PRE-MARKET INDIAN STOCK NEWS: Oil and Natural Gas Corp. (ONGC IS) is to buy Indian government’s over 51% holdings in Hindustan Petroleum (HPCL IS)

Bharat Heavy Electricals (BHEL IS)
- Co. received shareholders’ approval to issue bonus shares and make a dividend payout. (ET)

Hindustan Petroleum (HPCL IS)
- Oil and Natural Gas Corp. (ONGC IS) is to buy Indian government’s over 51% holdings in the Co. (Moneycontrol)

State Bank of India (SBIN IS)
- Co. charges for non-maintenance of monthly average balance were lowered. (Moneycontrol)

Power related
- Indian PM Modi unveiled a INR 163bln scheme to supply electricity to poor households. (ET)

Financials
- RBI revised investment and trading rules for banks, in which it restricted banks from investments in category III alternative investment funds, specified guidelines for commodity derivatives participation and tweaked regulations for investment in financial services firms. (Livemint)

Other News
- Indian Chief Economic Adviser Subramanian said that the RBI has been intervening to stem INR appreciation after the currency strengthened significantly between January-April this year. (Moneycontrol)

26 Sep 2017 - 04:20- EnergyResearch Sheet- Source: Newswires

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