Spot rubber steadies; latex slips

Location rubber continued to remain neutral on Wednesday. RSS-4 shut unchanged at ₹133 a kg, according to traders and the Rubber Board. The quality was continuous at ₹129 a kg by dealers.

In the meantime, ISNR-twenty and Latex misplaced more amidst dull volumes but the losses had been restricted on source concerns.

The expansion of the vehicle field and the need for organic rubber are really carefully related, as virtually seventy five per cent of rubber manufactured in the environment is utilized for the manufacturing of tyres. In accordance to the Affiliation of All-natural Rubber Creating Nations around the world (ANRPC), product sales of new passenger vehicles in India elevated twenty per cent y-o-y in August 2020, the maximum expansion in the previous 26 months.

RSS-3 (location) enhanced to ₹141.eleven (139.86) per kg at Bangkok. The most lively January 2021 delivery was up by one hundred Yuan (₹1,088.sixteen) to shut

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ONGC slips up to 4% after reporting a first-ever loss in March quarter

Shares of Oil and All-natural Gasoline Corporation (ONGC) slipped as a lot as 3.93 for every cent to Rs seventy eight.20 apiece on the BSE on Wednesday, a day soon after the condition-run oil and gas business posted a pre-tax loss of Rs 10,529 crore in the fourth quarter of the economical year 2019-20 (Q4FY20). The loss was because of to a fall in crude oil costs, the impact of the Covid-19-induced lockdown, and trade losses. It was ONGC’s 1st-ever quarterly loss.

At 09:29 am, the stock was investing 1.six for every cent decreased at Rs eighty.10 on the BSE. In comparison, the S&P BSE Sensex was quoting .5 for every cent higher at 35,099 degrees.

ONGC experienced logged a financial gain before tax (PBT) of Rs 11,691 crore in the corresponding period of time of FY19. The company’s income from functions declined by seven for every cent to Rs

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