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 […]
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
Unchanged Retail Fuel Prices Amid Oil Volatility To Support Returns For Industry: Report Read More »
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
Sensex, Nifty Tumble Over 1% On Weak Global Cues, Foreign Fund Exodus Read More »
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
Funding Momentum Bounces Back For Indian Startups With Over 300% Jump Read More »
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
IT Major Infosys Logs 4.7% Increase In Q2 Net Profit At Rs 6,506 Crore Read More »
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
PLI Scheme For White Goods: 38 Firms Commit Investments Worth Rs 4,121 Crore Read More »
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
FPIs Selling Did Not Impact Indian Stock Market Much As DIIs Come To Rescue Read More »
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
Ratan Tata In Critical Condition, Admitted At Mumbai Hospital: Report Read More »
New Delhi: The Central Board of Direct Taxes (CBDT) has formed an internal committee to comprehensively review Income-tax Act and invites suggestions from stakeholders/experts/public on the Income Tax e-filing portal. “In pursuance of the announcement in the Union Budget 2024-25 by Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman, the Central Board of
New Delhi: As the government focuses on GST 2.0 which further eases tax laws, enhance tax simplification and adoption of technology, the ministerial panel tasked to rationalise rates is deliberating on lowering GST on essential items like health insurance and tractors up to 5 per cent. As tractor segment volumes saw marginal growth (year-on-year) in
GST Panel Deliberates On Lowering Rate On Health Insurance, Tractors Read More »
