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India’s renegotiated gas import deal with Russia's Gazprom will save between Rs 8,500 crore and Rs 9,500 crore over the contract period ending 2040, Oil Minister Dharmendra Pradhan said today. State-owned gas utility GAIL India Ltd had in January taken advantage of the Russian company's inability to deliver liquefied natural gas (LNG) from the previously agreed Schtokman project in the Barents Sea, to renegotiate price agreed in 2012.In a written reply in the Rajya Sabha, Pradhan said the first cargo of Russian natural gas under the long-term contract between GAIL India Ltd and Gazprom Marketing & Trading Singapore (GMTS) was received on June 4.

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UltraTech Cement started off the financial year 2018-19 on a weak note as standalone profit during the April-June quarter fell 32.9 percent to Rs 598.39 crore due to dismal margin performance.Bottom-line numbers for the quarter ended June 2017 stood at Rs 890.62 crore. The company had acquired cement plants from Jaiprakash Associates and Jaypee Cement Corporation on June 29, 2017. Hence the figures for the three months ended June 30, 2018 are not comparable with the previous corresponding periods.Revenue from operations grew by 30.6 percent to Rs 8,655 crore compared to Rs 6,626.45 crore in same period last fiscal.

The non-banking finance company is expected to report another robust set of numbers for the June quarter. Brokerages estimate the company's bottom line to rise 35-45 percent YoY and its net interest income to increase 30-40 percent. Assets under management (AUM) are seen increasing 35 percent. For Bajaj Finance, Q1 and Q3 are seasonally strong quarters in terms of asset growth.

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The Nifty 50 giving up 11,000-mark. The Sensex managed to close almost 150 points lower, a huge drop from the record high it achieved on Wednesday morning. The Sensex ended lower by 146.52 points or 0.40% at 36373.44, while the Nifty was down 26.00 points or 0.24% at 10982.00. The market breadth was negative as 878 shares advanced, against a decline of 1,689 shares, while 149 shares are unchanged. Investors looked to cash out of majority of sectoral indices, with major cuts visible among metals, auto and FMCG names. Weakness among midcaps too weighed on the market. The Nifty Midcap index ended over 1 percent lower. ONGC, Asian Paints, and India bulls Housing were the top gainers on both indices, while Vedanta and Hindalco were the top losers.

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