Stock market update: Stocks that hit 52-week lows on NSE

Banks have conveyed their concerns about persistently high overnight rates and liquidity conditions to the Reserve Bank of India (RBI) to ensure a more equitable access to funding and shrink the widening gap between the benchmark policy and overnight rates.

Russia’s Rosneft has expressed interest in building a greenfield refinery in India in a joint venture with domestic state-owned refiners, according to people familiar with the matter. India’s public sector refiners are separately seeking foreign partners in their pursuit of a scaled-down alternative to the proposed $44-billion west coast refinery that hasn’t taken off for years, they said.