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21 Jul

LIC grow stake in State Bank of India to 9.49%

Business CorrespondentBusiness, News

Life Insurance Corporation of India (LIC) on Monday, July 21, said that the company has raised its stake in State Bank of India through a qualified institutional placement (QIP). The insurance giant has raised its stake to 9.49% from 9.21% earlier. LIC said in a regulatory filing on Monday, "...You are hereby informed that Life Insurance Corporation of India ("Corporation") has increased its shareholding in the equity shares of State Bank of India ("SBI") from 81,465,986.9 to 87,585,938.0 i.e. from 9.21% to 9.49% of the paid-up capital of SBI." On Monday, LIC shares closed marginally higher by 0.63% at ₹928.95…

19 Jul

Indian Overseas Bank Q1 results: Net profit gain 76% y-o-y to ₹1,111 crore; net profit (NII) up 13%

Business CorrespondentBusiness, News

Indian Overseas Bank (IOB) reported a 75.56% rise in its standalone net profit y-o-y to ₹1,111 crore in the June quarter of FY 2025-26 (Q1 FY26). Its profit stood at ₹632.8 crore in the same period a year ago. The bank's net interest income jumped 13% y-o-y to ₹2,747 crore in the quarter under review, as against ₹2,441 crore in Q1 FY25. Its net interest turnover grew to ₹2,746 crore in the June quarter of FY26, up 12.4% from ₹305 crore in the first quarter of FY25 to 10.8%. The asset quality of this publicly owned company has improved, with…

18 Jul

Aluminium futures prices increase on speculators’ bets

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New Delhi, Aluminium prices rose by 80 paise to Rs 250.25 per kg in futures trade on Friday as speculators created fresh positions amid positive trend in the spot market. At the Multi Commodity Exchange, the price of aluminium contract for August delivery rose by 80 paise or 0.32 percent to Rs 250.25 per kg in a business turnover of 1,889 lots. Analysts said fresh positions created by traders amid demand from consumer industries supported aluminium prices in the futures market.

17 Jul

Paytm shares increase for fifth consecutive session, trade above ₹1,000 for first time in 2025

Business CorrespondentBusiness, News

Shares of One97 Communications, the parent company of payment service provider Paytm, rose for the fifth consecutive session on Wednesday, July 16. According to BSE data, Paytm shares have gained nearly 12% in the last five trading sessions and are trading above its important psychological level of ₹1,000 for the first time this year. In intraday deals on Wednesday, Paytm shares rose as much as 2.5% to hit an intraday high of ₹1,013.75. Buying interest in Paytm shares increased after reports that the stock would be upgraded to the MSCI Standard Index. According to brokerage firm Motilal Oswal, Paytm is…

16 Jul

Aluminium futures downgrade on low demand

Business CorrespondentBusiness, News

New Delhi, Aluminium prices fell by 70 paise to Rs 248.80 per kg in futures trade on Wednesday as traders offloaded their positions following a weak trend in the spot market. At the Multi Commodity Exchange, aluminium contracts for August delivery fell by 70 paise, or 0.28 percent, to Rs 248.80 per kg in a business turnover of 1,525 lots. Analysts said aluminium prices fell mainly due to traders offloading their positions on account of weak demand from consuming industries.

15 Jul

Gold futures upsurge on spot demand

Business CorrespondentBusiness, News

New Delhi, Gold prices rose by Rs 180 to Rs 97,955 per 10 grams in futures trade on Tuesday as speculators created new deals due to strong spot demand. On the Multi Commodity Exchange, the price of gold contracts for August delivery rose by Rs 180, or 0.18 percent, to Rs 97,955 per 10 grams, with a turnover of 11,595 lots. Analysts said fresh buying by participants led to the rise in gold prices. Globally, gold futures in New York rose 0.52 percent to $3,360.93 an ounce.

14 Jul

Housing sales lapse 30% in MMR, Pune

Business CorrespondentBusiness, News

New Delhi: Housing sales in the Mumbai Metropolitan Region (MMR) and Pune overall declined 30 percent to 41,901 units in the April-June period this year, as consumer demand waned due to a surge in prices, according to PropTiger. Combined housing sales in MMR and Pune, two key property markets in Maharashtra, stood at 60,191 units in the same period a year ago. On Monday, housing brokerage firm PropTiger released data which showed that sales in India's eight major residential markets declined 14 percent to 97,674 units during April-June this year, as against 1,13,768 units in the same period last year.…

12 Jul

TCS stock downfalls 2.51% after Q1 results

Business CorrespondentBusiness, News

New Delhi, Tata Consultancy (TCS) stock fell 2.51 per cent in Friday morning trade after the stock failed to show enthusiasm over its June quarter results. The heavyweight stock on the list is trading 2.43 per cent lower at Rs 3,300. On the NOC, it was down 2.51 per cent at Rs 3,297. Other IT stocks also remained under selling pressure, with shares of Infosys, Tech Mahindra, HCL Tech and Wipro seeing negative word of mouth. In the stock market, the 30-stock index closed 352.91 per cent lower at 82,837.37 and the 50-stock index closed 91.45 per cent lower at…

11 Jul

Crude oil prices increase on spot demand

Business CorrespondentBusiness, News

New Delhi, Crude oil prices rose by Rs 26 to Rs 5,661 per barrel in futures trade on Friday as traders increased the size of their deals due to strong spot demand. At the Multi Commodity Exchange, the price of crude oil contract for August delivery rose by Rs 26, or 0.46 per cent, to Rs 5,661 per barrel in a business turnover of 6,252 lots. Analysts said crude oil prices rose in futures trade as participants increased the size of their deals. Globally, West Texas Intermediate crude was trading 0.38 per cent higher at $66.95 per barrel in New…

10 Jul

PC Jeweller to rose equity of Rs 500 crore

Business CorrespondentBusiness, News

New Delhi, PC Jeweller Ltd's board has approved a plan to raise equity of Rs 500 crore from promoters and Capital Ventures Pvt Ltd to prepay its debt, as part of its plan to become debt-free by the end of this fiscal. Delhi-based PC Jeweller has a total of 52 showrooms, of which 49 are company-owned. In a regulatory filing on Thursday, the company said the board has approved raising funds of up to Rs 500 crore through preferential allotment on a private placement basis. The board approved the issuance and allotment of up to 9.72 crore fully convertible warrants…