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Thursday, July 7, 2022

Business

Oil Stocks Under Pressure; Slip Up To 8%

New Delhi(PTI): Shares of oil companies tumbled up to 8 per cent today on worries that the government may ask them to share the burden of higher petrol and diesel prices. Hindustan Petroleum Corporation plunged 8.06 per cent, Bharat Petroleum Corporation 6 per cent and Indian Oil Corporation slipped 4.89 per cent on BSE. Shares of Oil & Natural Gas...

Oil Price Hike May Force RBI To Up Rates In August: Analysts

Mumbai(PTI): Rise in oil prices may lead to inflationary trends in the country, forcing the Reserve Bank of India (RBI) to hike rates by 0.25 per cent in the August policy review, foreign brokerages said today. The apex bank, however, may opt for a status quo in rates at the forthcoming review in June, they said. "We now expect the RBI...

SBI Posts Q4 Net Loss Of Rs 7,718 Crore On Higher Bad Loans

New Delhi(PTI): The country's largest lender SBI today posted a standalone net loss of Rs 7,718.17 crore for the March quarter due to higher Non-Performing Assets (NPAs). The bank had reported a net profit of Rs 2,814.82 crore in the corresponding period of 2016-17. Sequentially, the loss widened from Rs 2,416.37 crore in the third quarter ended December 2017. Total income during...

Petrol, Diesel Touch All Time Highs As Oil Companies Hike Rates

New Delhi(PTI): Petrol price on Sunday touched a record high of INR 76.24 per litre and diesel climbed to its highest ever level of INR 67.57 as the oil PSUs passed on four weeks of relentless rise in international oil prices to consumers Petrol price on Sunday increased by 33 paisa a litre in India's capital city Delhi -- the...

Form Special Team To Probe Emails Sent To Tata Firm: Bombay High Court

Mumbai(PTI): The Bombay High Court has directed the Mumbai Police to constitute a "special team" of officials, who are experienced in dealing with cyber crimes, to probe into allegations of defamatory emails received by a subsidiary company of the Tata Motors. A vacation bench, presided by Justice SJ Kathawalla, also directed the Mumbai Police Commissioner to file a report by...

Petrol, Diesel Prices Shoot Up After Karnataka Assembly Elections

After 2-day spike, Petrol & diesel prices remain unchanged
New Delhi: Government-run oil companies today raised petrol and diesel prices by 17 paise and 21 paise per litre respectively, after retail automobile fuel prices remained unchanged since April 24. This comes in the backdrop of the elections for the Krnataka srate assembly which ended on May 12. Indian Oil Corporation Limited (IOCL) Chairman Sanjiv Singh had earlier said...

Rupee Cracks 67 Mark Vs USD In Late Morning Deals

Mumbai(PTI): The rupee dropped 20 paise to hit 15-month lows of 67.07 against the American currency in late morning deals today on sustained dollar demand from importers and banks amid sharp rise in the greenback overseas. The rupee opened higher at 66.82 as against last Friday's closing level of 66.87 per dollar at the inter-bank foreign exchange here. The domestic unit...

Sensex Soars 180 Points As May F & O Series Opens Strong

Mumbai(PTI): The Sensex rallied about 180 points to 34,893.20 in early session today, maintaining its positive form for the second straight day as the May derivatives series took off on a strong footing amid encouraging earnings and positive Asian cues. Unabated buying by domestic institutional fulled the uptrend, brokers said. The 30-share Sensex, which gained 212.33 points in the previous session,...

Rupee Depreciates 8 Paise Vs US Dollar In Early Trade

Mumbai(PTI): The rupee weakened by 8 paise to 66.83 against the dollar in opening trade today at the Interbank Foreign Exchange market largely on month-end demand for the US currency from importers amid sustained foreign capital outflows. Forex dealers said month-end demand from banks and importers weighed on the rupee but domestic equity markets opening with gains and the US...

Rupee Rebounds 8 Paise In Opening Trade

Mumbai(PTI): The rupee strengthened by 8 paise to 66.40 against the US dollar in opening trade at the interbank foreign exchange market today on some selling of the greenback by exporters and banks. A higher opening of domestic equities too lifted the domestic currency, dealers said. Yesterday, the rupee had lost 36 paise to hit a fresh 13-month low of 66.48...

Air India Calls Pilot Unions’ Meet On Privatization

Mumbai(PTI): Air India has called a meeting of its pilot unions in New Delhi next week to discuss about the proposed strategic disinvestment amid opposition from other employee unions. On April 5, Air India chairman and managing director Pradeep Singh Kharola had held a meeting with representatives of four employee unions on the proposed privatisation and their concerns. "Indian Pilots Guild...

Comparisons Between India, China Not Fair: Raghuram Rajan

New York(PTI): Comparisons between India and China are "unfair" as India "pales" before the Communist giant, which is about five times India's size, former RBI Governor Raghuram Rajan has said as he emphasised on improving infrastructure for the country's growth. "I think the comparison is often made between India and China. That is a comparison which to some extent is...

Rupee Drops 5 Paise Against US Dollar

Mumbai(PTI): The rupee dropped by 5 paise to close at 65.02/03 against the US dollar at the interbank foreign exchange market today. The pound sterling also finished higher at 91.76/78 per pound against 90.96/98 earlier. Following are the interbank forex and RBI rates (in Rs per unit): Unit Interbank RBI Reference US Dollar 65.02/03 64.9287 Pound Sterling 91.76/78 Euro 79.6870 79.81/83 Japanese...

S K Mohanty Appointed Whole-Time Member SEBI

New Delhi(PTI): Santosh Kumar Mohanty was today appointed a whole-time member of market regulator SEBI. Mohanty, at present Executive Director in the Securities and Exchange Board of India (SEBI), has been appointed a whole-time member for a period of three years, according to an order issued by the personnel ministry. Mohanty took charge as Executive Director in SEBI from September 29,...