Russian McDonald's, Starbucks, Coke, and Pepsi sales suspended

LIVE UPDATES ON THE WAR BETWEEN RUSSIA AND UKRAINE: The United States has imposed a restriction on Russian oil imports, and the United Kingdom has agreed to cooperate with the embargo. According to AFP, US Vice President Joe Biden announced a ban on US imports of Russian oil on Tuesday, the administration's most far-reaching move yet to punish Moscow for invading Ukraine.

Source : IPOINFO

Despite the anticipated impact on already-soaring petrol costs, Democrats threatened legislation to force Biden's hand. "All Russian oil, gas, and energy imports are prohibited." Meaning Russian oil will not be accepted at US ports, and the American people will give (President Vladimir) Putin another powerful blow," Biden said in a White House address, adding that the decision was made "in close collaboration" with partners. Joe Biden, the Vice President of the United States Meanwhile, Britain declared on Tuesday that it would halt Russian oil imports by the end of the year, in accordance with new sanctions imposed by the United States in response to the invasion of Ukraine.

"This transition will provide enough time for the market, businesses, and supply chains to exchange Russian imports, which account for 8.0 percent of UK demand," said Business Secretary Kwasi Kwarteng in a tweet. The oil embargo does not apply to Russian fuel, which makes up about 4% of UK supply. Kwarteng, on the other hand, claimed he was "exploring options to finish this totally." The announcement coincided with US President Joe Biden's proclamation of a Russian oil embargo. Nickel prices have risen by over 100% in the last few days as a result of the Russia-Ukraine conflict, which has caused a shortage of the metal. Threatening to halt battery manufacture for electric vehicles. Russia provides around 10% of the world's nickel requirements.

The EV industry's margins may also be dragged by higher prices. On March 8, nickel prices jumped by as much as 111 percent, briefly reaching $100,000 per tonne. The London Metal Exchange (LME) paused trading due to the spike, with three-month nickel trading at $80,000 per tonne, up 66 percent. To avoid this, US President Joe Biden supports a quick transition to electric vehicles. "Tyrants like Putin" are waging a war on fossil energy. "Relaxing environmental regulations will not result in lower prices. However, we must alter our economy to rely on electric automobiles that are powered by renewable energy. This means that no one will have to be concerned about rising petrol prices. "Tyrants like Putin will no longer be able to use fossil fuels as a weapon," Biden stated.

Source: IPOINFO

Bikaji Foods International Limited IPO

Bikaji Foods International Limited is one of India's largest fast-moving consumer goods ("FMCG") brands . The company's product range includes six principal categories: bhujia, namkeen, packaged sweets, papad, western snacks as well as other snacks which primarily include gift packs (assortment), frozen food, mathri range and cookies. In the six months that ended June 30, 2022, the company sold more than 300 products under the Bikaji brand. The company was the largest manufacturer of Bikaneri bhujia with an annual production of 29,380 tonnes, and we were the second largest manufacturer of handmade papad with an annual production capacity of 9,000 tonnes in Fiscal 2022. The company has an international footprint, selling Indian snacks and sweets, and is among the fastest-growing companies in the Indian organized snacks market. The company has over the years established market leadership in the core states of Rajasthan, Assam and Bihar with an extensive reach. It ha...

PNB Housing Finance gains as its board of directors accepts a financing plan.

PNB Housing Finance stock rose 4% in morning trading on March 10; a day after the company’s board of directors approved fundraising. Source: IPOINFO “The board of directors of PNB Housing Finance accepted the proposal of fund-raising up to; an amount not exceeding Rs 2,500 crore at its meeting held on March 09, 2022,” the business said in a press release. The fundraise is subject to regulatory approvals and will be done by issuing equity shares on a right-issue basis to the company’s eligible equally shareholders as of the record date (to be notified subsequently) The exact terms in respect to the rights issue, including but not limited to the issue price; rights entitlement ratio, record date, time, and payment terms, will be determined in due course, according to the statement. PNB Housing Finance was trading at Rs 423.80 on the BSE at 10:06 a.m., up Rs 3.45, or 0.82 percent. On June 8, 2021, the stock hit a 52-week high of Rs 924; on April 19, 2021, it hit a 52-week low of Rs 350. I...

MF investors load up on equity mutual funds in March, dump bond funds

Equity mutual funds have closed the financial year 2022-2023 on a mixed note. Equity schemes of Indian mutual funds saw net inflows of Rs 28,463 crore in March 2022 compared to net inflows of Rs 19,705 crore in the previous month. The overall assets under management remained almost flat at Rs 37.56 lakh crore as on March 31, 2022, due to outflows from bond funds. Systematic investment plan (SIP) has been a preferred means for investing in mutual funds especially in equity funds for most individual investors. SIP contribution for the month of March 2022 was recorded at Rs 12,327 crore compared to Rs 11,438 crore in the previous month. The number of SIP accounts has gone up to 5.27 crore in March 2022 compared to 5.17 crore in February 2022. Index funds have seen net inflows of Rs 12,313 crore in March 2022 compared to net inflows of Rs 5,747 crore in the previous month. All open-ended equity scheme categories have seen net inflows in March 2022. A large chunk of money however c...

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