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 …
By Ashley Coutinho The Securities and Exchange Board of India (Sebi) has shot down requests by foreign portfolio investors to exempt them from paying the GST. In a mail sent last week, Sebi has clarified that services provided to FPIs will not be considered under export of services. The export of goods or services is …
Bhavan’s S P Jain Institute of Management and Research (SPJIMR) launches the Graduate Certificate Programme in Entrepreneurship (GCPE). The programme offered by SPJIMR’s Centre for Family Business and Entrepreneurship (CFBE), aims to promote the entrepreneurial spirit among young graduates and undergraduates, according to the press release. GCPE aims to focus on nurturing a diverse skill …
Domestic stock markets return to action today after a day’s hiatus. So far this week, bulls have been in control on Dalal Street pushing benchmark indices higher. S&P BSE Sensex is currently placed at 58,853 points adding 465 points or 0.80% on Monday while NSE Nifty 50 is at 17,525, up 127 points or 0.73%. …
IT major Tech Mahindra on Wednesday posted profit for the quarter ended September 2023 at Rs 493.90 crore, down 61.6 per cent in comparison to Rs 1285.40 during the corresponding quarter of FY23, missing estimates. It posted revenue from operations at Rs 12,863.90 crore, down 2 per cent as against Rs 13,129.50 crore during the …
The rupee has come under intense selling pressure in recent weeks due to a perfect storm of global headwinds, which analysts believe will continue to pummel the Indian currency in the months ahead as well. Earlier in July, rupee tested record lows and breached the Rs 80 per US dollar level at least twice, recovering …