Posts tagged Rediff
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.
HDFC Bank gets RBI nod to buy stake in ICICI Bank (06-02-2024)
HDFC Bank on Tuesday said RBI has given approval to the group to acquire up to 9.5 per cent stake each in six lenders, including ICICI Bank and Axis Bank.
The Mystery of ZEE and DIIs (06-02-2024)
Why are DIIs holding such a high stake in Zee, which is beset with alleged governance issues? Perhaps they think Zee is a deep-value stock, observes Debashis Basu.
‘We are almost at peak of interest rates cycles’ (06-02-2024)
'The stabilisation of interest rates followed by reduction is going to happen over the next year.'