With almost two months of coronavirus lockdown restrictions, Indian share market has been impacted adversely due to economic fallout. The headline indices BSE Sensex and Nifty 50 have been witnessing a bumpy ride since the COVID-19 spread its wings. The 30-share Sensex hit a record high of 42, 274 during the start of the year …
The Securities and Exchange Board of India (Sebi) has initiated a forensic audit into the financial statements of beleaguered Future Retail (FRL) and Future Supply Chain Solutions (FSC) over concerns of improper disclosure of financial information. The markets regulator has also appointed Chokshi & Chokshi LLP, a chartered accountant firm, as the forensic auditor, two …
Supported by a healthy economic growth, India’s demand for oil products, including petrol and diesel, is expected to go up by 7.7% to 4.77 million barrels per day (mb/d) in 2022, the Organization of the Petroleum Exporting Countries (OPEC) has forecast. During the year, oil demand is likely to increase by 1.23% in China, 3.39% …
Samsung has finally launched its latest Apple AirTag rival and successor to its SmartTag, SmartTag 2, in India. The company says that the Galaxy SmartTag 2 is better than the old one because it has a faster brain, making it more useful for keeping an eye on your stuff. It’s small, compact and capable of …
Domestic equity market benchmarks BSE Sensex and NSE Nifty 50 were likely to start in red on Tuesday, as suggested by trends on SGX Nifty in early trade. SGX Nifty 50 Index Futures for August were trading in the red, down 0.44 per cent or 76.50 points down at 17,316.50 on Singaporean Exchange. In the …
Oil slipped before an OPEC+ meeting as traders wait to see whether the group will heed a US call to boost supply. West Texas Intermediate fell below $94 a barrel in early Asian trading after ending marginally higher on Tuesday. The Organization of Petroleum Exporting Countries and its allies convene virtually later Wednesday, and a …
Oil rose toward $91 a barrel after Saudi Arabia said OPEC+ may be forced to cut production to stabilize a volatile market. “Extreme” volatility and a lack of liquidity means the futures market is increasingly disconnected from fundamentals, Saudi Arabia’s Oil Minister Prince Abdulaziz bin Salman told Bloomberg. That spurred a choppy session on Monday …
Bharat Petroleum Corporation Ltd (BPCL) share price tumbled 4.75% on Monday, days after the company reported a net loss of Rs 6,291 crore in the first quarter of the current fiscal year. Analysts noted that the loss reported by the company was owing to retail fuel prices being kept frozen leading to marketing loss. The …
India’s retail inflation, as measured by the Consumer Price Index (CPI), will likely moderate to 4% by H1FY25 from 5.02% in September, external monetary policy committee (MPC) member of the Reserve Bank of India (RBI), Ashima Goyal told Piyush Shukla in an interview. Goyal says the moderation may happen even sooner than H1FY25 if there …
FSN E-Commerce Ventures (Nykaa) reported a good performance with sustained growth (Q1FY23 GMV up 47% y-o-y/20% q-o-q) being the highlight in the backdrop of uncertain consumer sentiment and physical retail surge. While flat unique visitor trends have reversed in BPC, they persist in Fashion (last four quarters)—though conversions are driving order growth and AOV/private label …