Posts tagged Rediff
Why India’s oil cos are losing close to Rs 3/litre (07-02-2024)
State-owned fuel retailers are losing close to Rs 3 per litre on selling diesel while the profit on petrol has trimmed due to recent firming up in international oil prices, industry officials said detailing reasons for continuing to hold retail prices. Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), who control roughly 90 per cent of India's fuel market, 'voluntarily' have not changed petrol, diesel and cooking gas (LPG) prices for almost two years now, resulting in losses when input cost was higher and profits when raw material prices were lower.
Revealed: Swiggy, Ola, Flipkart’s IPO Plan (07-02-2024)
Layoffs, corporate restructuring, governance and most importantly profitability: The 14 Indian startups that plan IPOs this year are pulling out all the stops to ensure successful market debuts.
Why analysts are downgrading SBI Card (07-02-2024)
Most analysts have downgraded the stock of SBI Cards and Payments (SBI Card) as the credit card issuer posted weak results during the December quarter (Q3) of financial year 2023-24 (FY24). The sub-par show, analysts said, was for the eighth straight quarter. With this, they have slashed their earnings estimates by as much as 20 per cent over FY24-26 amid near-term pressure points in the company's growth outlook.
India to lease out space in strategic oil storage (06-02-2024)
After dropping a Rs 5,000 crore plan to fill parts of strategic oil storages, the government will lease out space in the underground rock caverns to domestic and international firms to store oil, a top executive said on Tuesday. India Strategic Petroleum Reserve Ltd has built underground storages at Visakhapatnam in Andhra Pradesh and Mangalore and Padur in Karnataka to store 5.33 million tonnes of oil that can be used in any emergency situation like supply disruption or war. UAE's Abu Dhabi National Oil Company (Adnoc) has already hired half of the 2.5 million tonnes storage capacity at Padur and 1.5 million tonnes facility at Mangalore.
TCS mcap crosses Rs 15 lakh crore as shares soar (06-02-2024)
Shares of Tata Consultancy Services (TCS) jumped 4 per cent on Tuesday, taking its market valuation to above Rs 15 lakh crore mark. The stock of the country's second most valued firm by market valuation jumped 4.05 per cent to settle at Rs 4,133.45 apiece on the BSE. During the day, shares of the company climbed 4.45 per cent to Rs 4,149.75 -- its all-time high.
Sensex ends 454 pts up on buying in IT stocks (06-02-2024)
Among the Sensex firms, HCL Technologies, Tata Consultancy Services, Maruti, Wipro, Larsen and Toubro, Infosys, Tata Steel, Bharti Airtel, State Bank of India, Tech Mahindra, UltraTech Cement and Mahindra and Mahindra were the major gainers.
SpiceJet told to pay Rs 50 crore to Kalanithi Maran (06-02-2024)
The Delhi high court on Monday told low-cost carrier SpiceJet Ltd to pay Rs 50 crore to former promoter Kalanithi Maran and KAL Airways within six weeks, as part of an arbitral award of 2018. The court said the payment shall be made subject to the outcome of SpiceJet's appeal challenging the interest amount awarded by the arbitral tribunal. The matter will now be heard on May 14.
RBI conducts 4-day VRRR auction; overnight rates fall (06-02-2024)
The Reserve Bank of India (RBI) on Monday did a four-day variable rate reverse repo (VRRR) auction to reduce liquidity in the banking system as the overnight money market rates fell below the repo rate, said market participants. The repo rate is 6.50 per cent. Banks parked Rs 18,750 crore at the auction against a notified amount of Rs 50,000 crore at a weighted average rate of 6.49 per cent.
Mid, smallcap indices stay afloat in choppy January (06-02-2024)
The S and P BSE Midcap and the S and P BSE Smallcap indices have managed to stay afloat in a volatile January that saw the frontline indices hit their respective 52-week high levels and then slip. While the S and P BSE Sensex has lost over 2 per cent thus far in January, the S and P BSE Midcap and the S and P BSE Smallcap indices have gained nearly 2.5 per cent and 4 per cent, respectively during this period.