EDC is a basic building block for the manufacture of polyvinyl chloride (PVC), a polymer product that plays a critical role in the housing and agriculture sectors.
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"India is a growing nation and has a vast contribution to the renewable energy sector with as much as 107.22 billion units in 2019.'' said Henrik Johansson, CEO of SPOWDI.
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Brent futures were down 21 cents, or 0.3%, at $64.18 per barrel by 0220 GMT, after gaining about 3% last week on the news that OPEC and its allies would deepen output cuts.
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The loan facility has been extended at an interest rate linked to 3-month MCLR of the bank and has a door-to-door tenure of 15 years.
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The fall in crude oil futures was mostly due to trimming of positions by traders, in line with weak global cues, analysts said.
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"The upsurge demonstrates the growing preference for the exchange platform enabling power-on-demand at the most competitive pricing and flexible procurement for market participants," said IEX
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On the Multi Commodity Exchange, crude for delivery in December traded higher by Rs 18, 0.45 per cent, to Rs 4,026 per barrel.
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Govt owns 63.75 per cent of Shipping Corp and a stake of 53.29 per cent in India’s second-biggest state refiner BPCL.
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