Category: Business

Business

Oil India net profit increases 12.5% YoY fuelled by better crude price realisation

May 13, 2026 admin

State-owned explorer Oil India’s net profits in the March-end quarter increased 12.5% on a year-over-year basis fuelled by a 5% improvement in average crude price realisation and 6% increase in crude oil production. OIL’s standalone profit after tax in the reported quarter stood at ₹1,790 crore, against ₹1,591 crore in the comparable period last year….

Business

Cabinet approves ₹37,500 crore package to boost coal gasification

May 13, 2026 admin

Union Minister Ashwini Vaishnaw addresses the Cabinet press conference and briefs the media on Coal Gasification Scheme worth ₹37,500 crore at the National Media Centre (NMC), in New Delhi on May 13, 2026. | Photo Credit: ANI Providing a fillip to the country’s pursuit of coal gasification, the Union Cabinet Wednesday approved a ₹37,500 crore…

Business

Government hikes paddy MSP by ₹72 to ₹2,441/qtl; sunflower seed sees steepest rise at ₹622

May 13, 2026 admin

The government announces an MSP hike for paddy followed by other pulses, oilseeds and cotton. File | Photo Credit: ANI The Government on Wednesday (May 13, 2026) announced a hike in the Minimum Support Price (MSP) for paddy by ₹72 to ₹2,441 per quintal for the 2026-27 kharif marketing season, while steeper increases for pulses,…

Business

Hindustan Petroleum Q4 net profit accelerates 46% on improved refining margins before conflict impact

May 13, 2026 admin

HPCL Headquarters, Mumbai. File photo State-owned refiner Hindustan Petroleum’s net profit in the March-end quarter zoomed more than 46% from the comparable period last year, aided by a 69% improvement in gross-refining margins (GRM) during the reported period that did not entirely observe the impact of escalating tensions in West Asia, and their impact on…

Business

Rupee hits lowest-ever intraday level of 95.80 against U.S. dollar

May 13, 2026 admin

Image used for representational purposes. | Photo Credit: Getty Images/iStockphoto The rupee touched its lowest-ever intraday level of 95.80 against the U.S. dollar, weakening for the fourth consecutive session on Wednesday (May 13, 2026) due to elevated crude oil prices and fear of a prolonged global trade disruption amid the West Asia crisis. According to…

Business

Baltimore bridge collapse: Highest-ever marine damages payout of $2.5 billion for Indian-managed ship Dali, according to reports

May 13, 2026 admin

Baltimore bridge collapse: Highest-ever marine damages payout of .5 billion for Indian-managed ship Dali, according to reports

File picture of the cargo ship Dali stuck under part of the structure of the Francis Scott Key Bridge after the cargo ship hit the bridge, on March 26, 2024, in Baltimore | Photo Credit: AP The State of Maryland has reached a settlement with Grace Ocean Private Limited and Synergy Marine, the owner and…

Business

Air India cuts international flights; suspends services on 6 overseas routes

May 13, 2026 admin

The proposed cut on International flights could impact more than 100 flights out of the over 1,100 daily services operated by the Air India Group. File | Photo Credit: B. Velankanni Raj Air India on Wednesday (May 13, 2026) announced reduction of international flights and temporary suspension of services on six routes, including Delhi-Chicago, amid…

Business

Stock markets snap four days of losses; end marginally higher

May 13, 2026 admin

Bombay Stock Exchange (BSE). | Photo Credit: Reuters Benchmark equity indices Sensex and Nifty ended marginally higher on Wednesday (May 13, 2026), snapping their four-day losing streak, as elevated crude oil prices and persistent geopolitical uncertainties restricted the upside. The 30-share BSE Sensex rose 49.74 points, or 0.07%, to settle at 74,608.98. During the day,…

Business

Cipla misses Q4 profit estimates on weak U.S. sales

May 13, 2026 admin

Cipla misses analysts’ average estimate of ₹7.05 billion reporting a poorer Q4 profit. File | Photo Credit: AP Cipla, third-largest drugmaker by revenue, reported a weaker-than-expected fourth quarter profit on ‌Wednesday (May 13, 2026), as sharp weakness in its U.S. business and higher costs outweighed strong domestic ⁠demand. The drugmaker’s consolidated net profit fell 54.6%…

Business

Dr. Reddy’s Q4 dips 86% on lower sales, multiple one offs to ₹221 crore

May 13, 2026 admin

On the SSA, the company said it recorded ₹453 crore as a reduction of revenue from sale of goods in its Global Generics Segment. | Photo Credit: The Hindu Pharma major Dr. Reddy’s Laboratories reported consolidated net profit slumped to ₹221.3 crore for the March quarter compared to ₹1,586.7 crore a year earlier on the…

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