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15 Sep

India’s vegetable oil imports rose, palmolein declines

Business CorrespondentBusiness, News

New Delhi, India's vegetable oil imports in August rose 7 per cent to 16.77 lakh tonnes compared to the same month last year, despite a sharp drop in refined palmolein shipments following changes in import duty, industry body SEA said on Monday. Total vegetable oil imports stood at 15.63 lakh tonnes in August 2024. The country imported 16.21 lakh tonnes of edible oil and 55,821 tonnes of non-edible oils in August, the Solvent Extractors Association of India (SEA) said. Among edible oils, crude oil imports rose to 16.13 lakh tonnes in August, while refined palmolein shipments declined to 8,000 tonnes…

13 Sep

Myntra’s profit increase Rs 548.3 crore in FY25

Business CorrespondentBusiness, News

New Delhi, Fashion and lifestyle e-commerce platform Myntra Designs Pvt Ltd has reported a multi-fold jump in consolidated profit to Rs 548.3 crore for the financial year ended March 2025. According to data received from Toffler, the Bengaluru-based company had reported a profit of Rs 30.9 crore in the previous financial year. The company's operating revenue grew 18 percent from Rs 5,121.8 crore in FY24 to Rs 6,042.7 crore in FY25.

12 Sep

India’s foreign exchange reserves increase US$ 698.27 billion

Business CorrespondentBusiness, News

Mumbai, India's foreign exchange reserves rose by US$ 4.038 billion to US$ 698.268 billion during the week ended September 5, according to data from the Reserve Bank of India (RBI) on Friday. The increase was due to a significant increase in the value of gold reserves. In the previous reporting week, the total reserves had risen by US$ 3.51 billion to US$ 694.23 billion. According to the data, foreign currency assets, a major component of the foreign exchange reserves, rose by US$ 540 million to US$ 584.477 billion during the week ended September 5. Expressed in dollars, foreign currency assets…

11 Sep

GST cut: Cement prices to downgrade by Rs 30-35 per bag

Business CorrespondentBusiness, News

New Delhi: Rationalisation of GST will reduce cement prices by Rs 30-35 per 50 kg bag and also reduce construction costs, a report by India Ratings and Research (Ind-Ra) said. Last week, the GST Council decided to introduce two slabs - 5 percent and 18 percent - in the existing GST regime. From September 22, cement will be taxed at 18 percent instead of 28 per cent. The report said the change is "structurally positive" for the cement sector and could boost demand in the affordable category, which has been weak in recent times. Ind-Ra believes companies will pass on…

10 Sep

Cottonseed oil futures prices downgrade on weak demand

Business CorrespondentBusiness, News

New Delhi, Cottonseed oil cake prices on Tuesday fell by Rs 38 to Rs 2,954 per quintal in futures trade as traders reduced their positions following a weak trend in the spot market. At the NCDEX, cottonseed oil cake contracts for December delivery fell by Rs 38, or 1.29 per cent, to Rs 2,954 per quintal in a business turnover of 7,890 lots. Analysts said selling by traders at current levels amid sluggish market sentiment mainly led to the fall in cottonseed oil cake prices.

09 Sep

Infosys shares increase after buyback proposal

Business CorrespondentBusiness, News

New Delhi: Infosys shares jumped nearly 5 percent on Tuesday after the company said its board will consider a proposal for buyback of equity shares on September 11. The stock rose 4.70 percent to Rs 1,500 on the BSE. It rose 4.68 percent to Rs 1,502.80 on the NSE. No other details were given in the notice filed by Infosys to the BSE about the buyback. "The board of directors of Infosys Limited will, at its meeting scheduled to be held on September 11, 2025, consider a proposal for buyback of fully paid-up equity shares of the company, in accordance…

08 Sep

Aluminium futures increase: New deals push fuel prices higher

Business CorrespondentBusiness, News

New Delhi: Aluminium prices rose by 75 paise to Rs 256.30 per kg in futures trade on Monday as speculators created new deals amid a positive trend in the spot market. At the Multi Commodity Exchange, the price of aluminium contract for October delivery rose by 75 paise, or 0.29 per cent, to Rs 256.30 per kg in a business turnover of 438 lots. Analysts said fresh buying by traders amid demand from consumer industries supported aluminium prices in the futures market.

06 Sep

Ola Electric Mobility shares downfall over 6%, Japan’s SoftBank sells 2.15% stake

Business CorrespondentBusiness, News

Shares of Ola Electric Mobility fell as much as 5.88% to hit a low of ₹60.71 per share on the National Stock Exchange (NSE) on Friday, September 5. The decline comes after Japan's SoftBank's investment arm, SVF II Ostrich (DE) LLC, sold its 2.15% stake in the electric vehicle (EV) company between July 15 and September 2, 2025. A regulatory filing released on Thursday said SoftBank's investment arm has sold a total of 94.9 million shares in Ola Electric Mobility. The filing said, "SVF II Ostrich (DE) LLC has disposed of an aggregate of 94,943,459 equity shares of Ola Electric…

04 Sep

M&M shares gain 7%, while other OEMs struggle to maintain gains

Business CorrespondentBusiness, News

After rationalisation of GST rates, investors' interest in auto stocks has increased with a significant reduction in GST rates in the new rate structure. The Nifty Auto index opened with a gain of over 3.5% on Thursday morning after the GST hike. Among all other stocks, M&M and Eicher Motors were the top two gainers on the index. M&M shares rose nearly 7% to hit a high of ₹3,550 per share on the NSE. The stock is currently trading 6.4% higher at ₹3,494 per share. While other carmakers are trading in the green with gains of up to 1%, trimming…

03 Sep

Bajaj Finance shares increase for fourth consecutive session

Business CorrespondentBusiness, News

Non-banking financial company Bajaj Finance Ltd continued its winning streak for the fourth consecutive trading session on Tuesday, September 2, 2025. On the National Stock Exchange (NSE), the stock opened at ₹895, higher than its previous close of ₹889.35. The stock then hit an intraday high of ₹899.55. As of 2:03 pm, shares of Bajaj Finance Ltd were trading 0.10% lower at ₹888.40. The company's market capitalisation as of September 2 was ₹5,52,774.18 crore. In the last four days, Bajaj Finance shares have gained 1.71%. On a monthly basis too, the stock has gained 0.34%. So far in 2025, it…