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Kolkata: ITC Ltd has reported a 5% year-on-year rise in standalone net profit from continuing operations for the fourth quarter of the last fiscal, at Rs 5,113.3 crore. The growth came despite a higher GST rate and a steep increase in excise duties, while West Asia conflict weighed on profitability.The Kolkata-headquartered company had seen a…
New Delhi : Quick commerce platform Zepto plans to launch its Rs 11,000-crore IPO in July, people familiar with the matter said on Thursday. If the listing goes through, Zepto will join rivals Zomato and Swiggy, which are already listed on stock exchanges. The startup secured approval for its maiden public issue from Sebi earlier…
Oil prices climbed on Friday as investors remained uncertain about the prospects of a breakthrough in ongoing US-Iran peace negotiations, while concerns over supply disruptions through the Strait of Hormuz continued to support the market.Brent crude futures rose $2.38, or 2.3 per cent, to $104.96 a barrel by 0034 GMT, while US West Texas Intermediate…
MUMBAI: Tata Sons chairman N Chandrasekaran is set to present a detailed roadmap of the company’s loss-making new businesses at a crucial board meeting on May 26, as he moves to defuse tensions with principal shareholder Tata Trusts chairman Noel Tata.His presentation will cover Tata Digital and Air India, ventures that have absorbed significant investment…
NEW DELHI: LG Electronics India reported an 8.2% decline in its net profit to Rs 692.7 crore for the March quarter from a net profit of Rs 754.5 crore during the Jan-March period a year ago. Its revenue from operations rose 8.1% to Rs 8,053.6 crore in the March quarter of FY26. It was Rs…
MUMBAI: Banks have made a host of suggestions on how govt could attract $30–$50bn foreign exchange, most of them involving the central bank subsidising the hedging cost of the foreign exchange.While the interest rate differential between India and the US is far less than the 4–5% in 2013, bankers say that the macroeconomic fundamentals are…
NEW DELHI: India’s largest carmaker Maruti Suzuki will raise prices across its vehicle line up by up to Rs 30,000 from next month, citing elevated inflationary pressures and a persistently adverse cost environment. Some of the other car makers indicated that they are also reviewing prices, while some have already raised it.In a regulatory filing…
NEW DELHI/MUMBAI: Amid a depreciating rupee, commerce and industry minister Piyush Goyal on Thursday said govt is considering several measures to contain the widening current account deficit (CAD). “We are monitoring the situation. All the various arms of the govt are working as a team. Several steps are under consideration. The situation globally is quite…
US stock markets moved lower on Thursday extending recent losses as a rebound in oil prices and rising Treasury yields renewed pressure on equities despite another strong earnings performance from Nvidia, AP reported.The S&P 500 slipped 0.4 per cent and was on course for a fourth decline in five sessions after recently touching a record…