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Ncdex launches furnace oil futures trading
Mumbai: The National Commodity and Derivatives Exchange (Ncdex) launched trading in furnace oil futures contract on Monday. The bourse has signed an agreement with Bharat Petroleum Corporation Limited (BPCL) for developing a delivery mechanism for the contract.

If contracts are not squared off, BPCL will step in and supply furnace oil from its Mumbai and Sewri warehouses. The initial target of the company is 5,000 tonnes.

The contract enables those companies, which use furnace oil as an alternative energy source for their plants to hedge the rising input costs.
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Indian Terrain holding company plans IPO
Chennai: Chennai-based Celebrity Fashions, the holding company of the men's wear brand, Indian Terrain, supplying garments to some of the world's top brands, is planning an IPO to finance its expansion plans, and has filed a draft Red Herring prospectus with SEBI.

The company is setting up new factories and is expanding its chain of exclusive stores for the brand.

The company plans to enter the capital market with a public issue of 45.5 lakh equity shares of Rs10 each on a book-building basis.

The issue will constitute 25.35 per cent of the fully diluted post-issue paid-up capital of the company.

The IL&FS Investsmart is the book running lead manager for the issue.
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