The BSE Oil & Gas is one of the top gaining indices on Friday. It is up by 1.1% at 13343. ONGC is majorly contributing to the index gains and pulling it to higher level.ONGC is trading higher by 1.5% at Rs 160 per share.
Other stocks in the index viz. Indraprastha Gas is up 2.3% at Rs 1061 per share, Bharat Petroleum Corporation is up 1.9% at Rs 628 per share, GAIL is up 1.4% at Rs 361 per share, Hindustan Petroleum Corporation is up 1.0% at Rs 517 per share, Indian Oil Corporation is up 0.8% at Rs 391 per share and Petronet LNG is also up 0.6% at Rs 435 per share.
Eris Lifesciences made premium debut on the NSE clocking gains of 1.32% at Rs 611 per share as compared to its issue price of Rs 603 per share. It concluded its initial public offer (IPO) last week and was subscribed 3.29 times in its three-day bidding from June 16-20.
The portion set aside for retail investors was oversubscribed 3.51 times and qualified institutional buyers was oversubscribed 4.68 times. The portion reserved for non-institutional investors was subscribed only 45%.
SEBI has proposed an expansion of eligible jurisdictions for grant of FPI registration to category I foreign portfolio investors (FPIs) by including countries that have diplomatic tie-ups with India and are FEMA compliant. Besides, the regulator has suggested for rationalising ‘fit and proper’ criteria for FPIs as well as simplifying broad-based requirements for such investors.
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