Category: Business

The S&P BSE Sensex has come off the all-time high level of 38,989.65 registered on August 29, 2018, and has since declined nearly 6 per cent. Global brokerage Morgan Stanley expects the Sensex to hit 42,000 by December this year. The stock markets witnessed a selloff from all-time high levels in the aftermath of the […]

The phenomenal growth of Reliance Jio, backed by its ultra-cheap data plans that has transformed the telecom scenario in India, has helped Reliance Industries Chairman Mukesh Ambani move six places up to 13th rank in US magazine Forbes’ “World’s Billionaire list 2019”. Mukesh Ambani is now worth $50 billion — up from $40.1 billion in […]

Coal India Ltd, the world’s biggest coal miner, reported a 50.1 per cent jump in third-quarter profit on Tuesday as it benefited from higher coal production. Its profit for the three months to December reached Rs. 4,567 crore ($646.5 million), compared with Rs. 3,043 crore a year earlier, the company said. The figure beat analysts’ […]

Domestic stock markets started Tuesday’s session on a mixed note, see-sawing between gains and losses ahead of release of key macroeconomic data. The 30-scrip benchmark index, Sensex, moved in a range of 36,465-36,331 in early trade, while the Nifty moved between 10,910 and 10,870. Weakness in IT stocks offset the advances in energy stocks. At […]

NEW DELHI/MUMBAI: The government on Sunday launched the third bidding round under its open acreage licensing policy (OALP), according to a statement. Twenty three blocks covering an area of 32,000 square kilometers were offered for bidding, out of which 5 are for extraction of coal bed methane. Total exploration acreage is expected to more than […]

The Reserve Bank of India unexpectedly cut its benchmark interest rate in Governor Shaktikanta Das’s debut policy meeting, becoming the first in Asia to ease borrowing costs this year as inflation remains benign. The repurchase rate was reduced by 25 basis points to 6.25 per cent, a decision predicted by just 11 of 43 economists […]

Steel firms are putting pressure on the government to impose higher duties on imports as trade disputes and a global economic slowdown divert surplus Asian steel stocks to India, industry executives and government sources said. Local producers are suffering from the double whammy of a rise in cheap imports and low domestic steel prices, which […]

Stock markets started Wednesday’s session on a strong note, with the Sensex rising more than 250 points and the Nifty hitting 11,000 for the first time in more than four months. The 30-scrip index rose as much as 277 points to touch 36,894 in early trade, while the Nifty climbed 84 points to 11,018. Gains […]