Business News

Navi Mumbai Airport To Start Operations In First Half Of 2025: Adani Group CFO

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Navi Mumbai Airport Details: Group CFO of Adani Group, Jugeshinder ‘Robbie’ Singh on Tuesday said the Adani Group’s newly built airport at Navi Mumbai will start operations in the first half of 2025. Earlier this month, Adani Group successfully managed the landing of Indian Air Force aircraft at a Navi Mumbai runway. “With this, we […]

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OMCs Operating Profit To Drop By 30% In FY25 Amid Diesel Spread Softening: Crisil Reports

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New Delhi: Oil marketing companies (OMCs) are expected to see a drop in operating profit to USD 12-14 per barrel in fiscal 2025 from USD 20 per barrel last fiscal, Crisil Ratings reported. The decline is primarily due to discounts on Russian crude oil, a softening of diesel spreads, and inventory losses, according to the

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Unchanged Retail Fuel Prices Amid Oil Volatility To Support Returns For Industry: Report

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New Delhi: Amid the ongoing geo-political tensions, unchanged retail fuel prices amid the volatile oil prices will support overall returns for the industry, according to a report on Thursday. Operating profit will be higher than the $9-11 per barrel on average over the 10 years through fiscal 2025. This will partly support the continued substantial

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Sensex, Nifty Tumble Over 1% On Weak Global Cues, Foreign Fund Exodus

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Mumbai: Equity benchmark indices Sensex and Nifty plunged more than 1 per cent on Tuesday due to across-the-board selloff amid massive foreign fund exodus from the capital markets and sluggish global equities. Besides, a weak earnings growth trend also dented market sentiment, traders said. Extending its previous day’s decline, the BSE Sensex plummeted 930.55 points

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Funding Momentum Bounces Back For Indian Startups With Over 300% Jump

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New Delhi: The funding momentum bounced back for the Indian startup ecosystem this week, with 39 startups raising around $449 million across 29 deals — an over 300 per cent jump from the $135 million raised last week.  This week saw 12 growth-stage and 16 early-stage deals. The seed funding stood at $26.5 million, a

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IT Major Infosys Logs 4.7% Increase In Q2 Net Profit At Rs 6,506 Crore

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New Delhi: IT major Infosys on Thursday reported a 4.7 per cent increase in net profit (year-on-year) in the July-September period (Q2 FY25) to Rs 6,506 crore from Rs 6,212 crore in the year-ago quarter. The IT bellwether’s revenue clocked a growth of over 4 per cent (quarter-on-quarter) at Rs 40,986 crore from Rs 38,994

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PLI Scheme For White Goods: 38 Firms Commit Investments Worth Rs 4,121 Crore

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New Delhi: In a boost for local manufacturing, 38 companies have applied for the PLI scheme for white goods (air conditioners and LED lights) with a net committed investment of Rs 4,121 crore in the third round, the government informed on Monday.   The third round of the online application window ended on October 12 after

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FPIs Selling Did Not Impact Indian Stock Market Much As DIIs Come To Rescue

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Mumbai: Foreign portfolio investors (FPIs) sold equity worth Rs 58,710 crore (till October 11), but massive selling didn’t have a serious impact on the market, market experts said on Saturday.  According to them, the entire FPI selling has been absorbed by the domestic institutional investors (DIIs) who are receiving sustained fund inflows. The major trend

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Ratan Tata In Critical Condition, Admitted At Mumbai Hospital: Report

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New Delhi: Ratan Tata, chairman emeritus of Tata Sons is reportedly in critical condition and receiving intense care at a Mumbai hospital, according to a Reuters report on Wednesday. Initial reports of his hospitalization surfaced earlier in the week, but Tata had reassured the public, stating he was undergoing routine medical checkups due to his

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