Business news live – The Hindu
Table of Contents
10:06 A.M.
Oil prices rise
Oil prices rose, extending a rebound from last week’s plunge on growing expectations major producers would put on hold plans to add 4,00,000 barrels per day of supply in January.
Brent crude futures gained 0.6%, to $73.91 a barrel, while U.S. WTI crude futures jumped 1%, to $70.68 per barrel. Oil dipped around 12% on Friday along with other markets on fears the Omicron would spark fresh lockdowns and dent global growth.
9:46 A.M.
Star Health raises ₹3,217 crore ahead of IPO
Star Health and Allied Insurance Company raised around ₹3,217 crore from anchor investors ahead of its initial public offering (IPO).
The IPO comprises fresh issue of equity shares worth ₹2,000 crore and an offer for sale of up to 58,324,225 equity shares by promoters and existing shareholders. At the upper end of the price band, the initial share-sale is expected to fetch ₹7,249.18 crore.
9:39 A.M.
