SP Chandel - Stock Market News & Updates

2020 Russia–Saudi Arabia oil price war According to : -  wikipedia.org On 8 March 2020,  Saudi Arabia  initiated a  price war  with  Russia , triggering a major fall in the  price of oil , with US oil prices falling by 34%,  crude oil  falling by 26%, and  brent oil  falling by 24%.  The price war was triggered by a breakup in dialogue between the  Organization of the Petroleum Exporting Countries  and Russia over proposed oil production cuts in the midst of the  2019–20 coronavirus pandemic . Oil prices had already fallen 30% since the start of the year due to a drop in demand.  The price war is one of the major causes of the currently ongoing  global stock market crash . Beginning in 2014, U.S.  shale oil  production increased its market share; as other producers continued producing oil, prices crashed from above $114 per barrel in 2014 to about $27 in 2016. In September 2016, Saudi Arabia and Russia agreed to cooperate in managing the price of oil, creating an infor

HDFC’s profit up 4 times at 8,372 crore HDFC’s profit grew nearly 4 times to Rs 8,372 crore in the December quarter. The company had made a profit of Rs 2,113.80 crore in the same period a year ago.  HDFC is the country’s largest provider of home loan. In an IT Now poll, analysts had expected HDFC’s profit to be Rs 6,300 crore. The profit of the company was contributed by Fair Value Gain of Rs 9,019.81 crore due to the merger of Gruh Finance with Bandhan Bank. HDFC has said, “Gruh Finance was a subsidiary of HDFC. It has merged with Bandhan Bank. The merger took effect on October 17. The investment in Griha has earned HDFC a fair value of Rs. 9,019.81 crore.” HDFC’s board approved a proposal to raise Rs 45,000 crore from non-convertible debentures from a private placement basis. HDFC’s provision increased to Rs 2,995 crore from Rs 116 crore in the same period a year ago. The country’s largest home loan company said that its thinking about p