Stay Connected. Stay Informed.
Business
Representational image only. The government has hiked the windfall profit tax on crude oil produced in the country and on export of diesel, while bringing back the levy on overseas shipments of ATF. The tax, levied in the form of special additional excise duty, on domestically produced crude oil has been raised to ₹7,100 per…
SpiceJet aircrafts prepare for landing and take-off at the airport in Mumbai. File | Photo Credit: Reuters Budget airline SpiceJet on Monday reported a net profit of ₹197 crore for the quarter ended June 2023 as compared with a loss of ₹783 crore during the same period the earlier year. For the same comparative period,…
Read More “SpiceJet reports net profit of ₹197 crore in Q1” »
A scene at wholesale vegetable market Azadpur Mandi, in New Delhi. File | Photo Credit: Sushil Kumar Verma Retail inflation resurged in July to hit 7.44% from 4.87% in June, with consumers facing a sharp 11.5% spike in food prices. This is the highest pace of retail inflation since April 2022 and the first time…
File. | Photo Credit: C. Venkatachalapathy The rupee depreciated 29 paise to settle at an all-time low of 83.11 (provisional) against the U.S. dollar on August 14, weighed down by a strong greenback overseas and firm crude oil prices in the international markets. Foreign fund outflows also weighed on the local unit, analysts said. At…
Read More “Rupee falls 29 paise to close at all-time low of 83.11 against U.S. dollar” »
Image used for representational purpose only. | Photo Credit: The Hindu India’s domestic air passenger traffic volume surged 25% year-on-year to 1.21 crore passengers in July, according to DGCA data released on Monday (August 14). The data from the Directorate General of Civil Aviation (DGCA) showed that domestic carriers flew 97.05 lakh passengers in July…
Read More “Domestic air passenger traffic jumps 25% in July” »
File. | Photo Credit: Paul Noronha Benchmark equity indices bounced back sharply and ended in the positive territory on August 14, helped by fag-end buying in index heavyweights Reliance Industries and Infosys along with a firm beginning in European markets. The 30-share The BSE Sensex climbed 79.27 points or 0.12% to settle at 65,401.92. During…
Image used for representational purpose only. | Photo Credit: Reuters The wholesale price based inflation remained in the negative territory for the fourth straight month in July at (-)1.36% on easing prices of fuel, even though food articles turned costlier. The wholesale price index (WPI) based inflation rate has been in the negative since April…
Read More “Wholesale inflation stays in negative for fourth month at (-) 1.36% in July” »
Benchmark equity indices declined in early trade on Monday, August 14, 2023 falling for the third day running, amid weak global market trends and fresh foreign fund outflows. Caution also prevailed in the market ahead of announcement of wholesale and retail inflation numbers for July later in the day. The 30-share BSE Sensex fell 461.48…
Read More “Sensex, Nifty fall in early trade on weak global trends” »
The Deloitte company logo. | Photo Credit: Reuters Deloitte has resigned as auditor of the Adani Group’s port company, with the firm run by billionaire Gautam Adani saying the auditor wanted a wider remit over other firms in the conglomerate following the report of a U.S.-based short seller. The resignation comes weeks after Deloitte raised…
Foxconn logo is seen in this illustration. File | Photo Credit: REUTERS Leading contract manufacturer of electronics globally Foxconn, which operates through multiple entities, has announced board approval for a $400 million investment in Telangana, the southern State where in May it broke ground for a $500 million manufacturing facility. Telangana IT and Industries Minister…
Read More “Foxconn gets board nod for $400 million investment in Telangana ” »
