The World Gold Council wants gold classified as a strategic mineral MUMBAI: World Gold Council has come out with a 21-year plan to substantially improve the gold ecosystem in India. The plan, christened Swarnim Udaan and aligned with govt’s Viksit Bharat 2047 vision, aims to build on the strengths that have long distinguished India globally…
MUMBAI: Govt on Tuesday opted to sell an additional 4% in LIC in the ongoing offer for sale (OFS) for the life insurance major as the issue was subscribed 3.3 times on the opening day. Including the green shoe option that takes the total offer size to 82.2 crore shares, govt is expected to mop…
NEW DELHI: Global benchmark Brent crude fell to a three-week low on Tuesday, amid renewed optimism over reopening of Strait of Hormuz, after senior US officials indicated that a deal with Iran could be possible.Brent was trading below the $80-a-barrel mark (9.15 pm) on Tuesday, its lowest level since July 13, down almost 5% in…
BENGALURU: Diageo-owned United Spirits has moved Bombay high court against a Food Safety and Standards Authority of India (FSSAI) order concerning McDowell’s No. 1 Rum manufactured at its Baramati plant.The company disclosed the legal challenge on Tuesday, days after the food regulator barred the sale of certain rum and whisky products made by United Spirits…
Centre introduces Taxation and Other Laws (Amendment) Bill in Lok Sabha, proposes fresh tax exemptions, investment-friendly reforms NEW DELHI: FM Nirmala Sitharaman on Tuesday moved the Taxational and Other Laws (Amendment) Bill, proposing fresh steps to woo overseas investors and fund managers into the country, while offering predictability to electronics goods makers and component suppliers.The…
MUMBAI: India’s payment industry has long been calling for higher subsidies or a controlled introduction of merchant discount rate (MDR) to recover transaction costs. The decision to allow MDR or higher value business payments will help to turn many business models sustainable and thereby increase competition in an industry that is currently a near duopoly…
NEW DELHI: India’s second largest telecom operator Bharti Airtel saw its Q1 profit soar 37.3% to Rs Rs 8,167.4 crore this Q1, from Rs 5,947.4 crore in same period last fiscal thanks to higher mobile tariffs, strong customer additions and growth across its India and Africa businesses. Revenue in the same period rose 18.4% to…
State-owned Oil and Natural Gas Corporation (ONGC) reported a more than two-fold jump in its profit for the April-June quarter on Tuesday. The spike was fueled by higher crude oil prices and improved realisations, even as oil and gas production remained broadly stable.According to a stock exchange filing, the company posted a net profit of…
The Enforcement Directorate (ED) is investigating 32 bank fraud cases involving 54 accused who have left the country, minister of state for finance Pankaj Chaudhary told the Rajya Sabha on Tuesday. The cases are being probed under the Prevention of Money-laundering Act (PMLA), 2002.Sharing details in a written reply, Chaudhary said that the agency has…
What has been implemented as per SEBI directions is called a Closing Auction Session or CAS. At the start of the new month, confusion has ensued for stock market investors as a new mechanism for closing and revised timings has left traders scrambling to adapt. From August 3, 2026, the closing timings of different segments…
