PremiumPrice increases moderated in the US last month in the latest sign that the inflation pressures might be easing. Consumer inflation reached 7.7% in October. The figures dimmed expectations of more aggressive Federal Reserve rate hikes.
Indian Oil Corp, the country's top refiner, has purchased a cargo of Russia's Sokol oil for November delivery through a spot deal with a trading firm, a source familiar with the matter said.
The trader won the Sokol cargo at near parity with the Dubai benchmark in a recent tender floated by Russian oil giant Rosneft, the source said. IOC did not respond to Reuters email seeking comment.
Rosneft last month offered six cargoes of Sokol crude for loading in November to early December, signaling that output from the Sakhalin-1 project may be recovering following the departure of former operator Exxon Mobil Corp. (Reuters)
The Twitter Blue paid subscription has started rolling out in India and would likely cost ₹719 per month. Some users in India have started sharing images of the prompts received for Twitter Blue subscription.
Elon Musk had said that users who subscribe to Twitter Blue will get priority in replies, mentions & search, which is essential to defeat spam/scam; ability to post long video & audio; half as many ads and paywall bypass for publishers willing to work with Twitter which will also give the social media platform a revenue stream to reward content creators. (Read More)
Prosecutors in Liechtenstein, Switzerland and Austria raided multiple properties linked to Florian Fritsch, one of the investors trying to revive India’s Jet Airways, as part of a broader investigation into suspected fraud and money laundering.
Investigators in the small Alpine principality are evaluating the confiscated evidence from the raids conducted on 26 October, Liechtenstein’s prosecutor general Robert Wallner said in an emailed response to questions, without naming Fritsch.
Authorities raided the properties and froze other assets tied to Fritsch, said a person with knowledge of the raids, who didn’t want to be identified discussing an ongoing probe. (Read More)
Apollo Hospitals on Thursday said its consolidated net profit declined 20 per cent to ₹213 crore in the second quarter ended September.
The healthcare major had reported a net profit of ₹267 crore in the July-September period of previous fiscal.
Total income increased to ₹4,274 crore in the second quarter of the current fiscal as against ₹3,723 crore in the year-ago period, Apollo Hospitals said in a regulatory filing. (PTI)
The crisis engulfing Sam Bankman-Fried’s FTX.com is rapidly worsening, with the onetime crypto wunderkind warning of bankruptcy if his firm can’t secure funds to cover a shortfall of as much as $8 billion.
Bankman-Fried informed investors of the gap on Wednesday, shortly before rival exchange Binance abruptly scrapped a takeover offer. He said FTX.com needed $4 billion to remain solvent and is attempting to raise rescue financing in the form of debt, equity, or a combination of the two, according to a person with direct knowledge of the matter. (Read More)
Bikaji Foods IPO allotment status may become public any time today as tentative Bikaji Foods International IPO allotment date is 11th November 2022. Those who have bid for the public issue are advised to check their application status online by logging in at the BSE website — bseindia.com or at the website of its official registrar — Link Intime India Private Ltd. The official website of Link Intime India Private Ltd is linkintime.co.in. Meanwhile, grey market has gone positive on the public issue ahead of finalisation of share allocation. According to market observers, Bikaji Foods IPO GMP (grey market premium) today is ₹38 per equity share. (Read More)
If Korea's outstanding manufacturing foundations such as electronics, automobiles, steel, are combined with India's world-class information and communications technology (ICT) capabilities, this will contribute to the development of future industries, including EVs and batteries, as well as strengthen the resilience of regional supply chains, Republic of Korea Deputy Trade Minister Jeong Dae-jin said on Thursday.
The Deputy Minister for Trade, Ministry of Trade, Industry and Energy (MOTIE), Republic of Korea, was addressing virtually during the India Korea Business Partnership Forum, which was organised by Confederation of Indian Industry (CII) in partnership with Korea International Trade Association. (ANI)
The rupee clawed back intra-day losses to close 7 paise higher at 81.40 against the US dollar on Thursday amid persistent foreign fund inflows and softer crude oil prices.
At the interbank foreign exchange market, the local unit opened at 81.61 and witnessed a high of 81.38 and a low of 81.92.
It finally settled at 81.40 against the American currency, up 7 paise over its last close of 81.47. This was the fourth straight session of gains for the local unit.
"Rupee came under pressure in the first half of the session ahead of the US inflation number...," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services. (PTI)
Finance Minister Nirmala Sitharaman and visiting US Treasury Secretary Janet Yellen will discuss a host of issues of mutual interest, including climate finance on Friday here.
Both leaders will lead the 9th meeting of the India-US Economic Financial Partnership. Yellen is on a day-long visit to India on November 11.
"During the 9th India-US EFP meeting, both sides will discuss issues of mutual interest including Climate Finance, multilateral issues, India-US cooperation at G20 under India's Presidency, taxation, supply chain resilience, global economy and macroeconomic outlook," the Finance Ministry said in a tweet.
"On the sidelines of the 9th India-US EFP meeting, @nsitharaman and @SecYellen will also participate in a Roundtable interaction on India-US Business and Economic Opportunities with top Business Leaders and eminent economists," another tweet said. (PTI)
The finalisation of Share allocation for the initial public offer (IPO) of Medanta operator Global Health Ltd is most likely today. As per the tentative schedule of this popularly known Medanta IPO, the allotment date is most likely on 11th November 2022 i.e. today. After the announcement of share allotment, bidders are advised to check Medanta IPO allotment status online by logging in at the BSE website or at the website of its official registrar. KFin Technologies Limited have been appointed as the official registrar of the IPO. Meanwhile, the grey market premium (GMP) of Global Health IPO has surged ahead of the share allocation date. According to market observers, shares of Global Health Ltd are available at a premium of ₹23 in the grey market today.
As per the market observers, Medanta IPO or Global Health IPO GMP today is ₹23, which is ₹3 higher than its yesterday's GMP of ₹20. They expected further improvement in Medanta operator Global Health IPO GMP as overall sentiment on Dalal Street is still positive. (Read More)
State-owned NHPC on Thursday posted a 21.56 per cent rise in its consolidated net profit at ₹1,685.81 crore in the September quarter of FY23, mainly on the back of higher revenues.
The consolidated net profit of the company was ₹1,386.81 crore in the quarter ended on September 30, 2021, a BSE filing showed.
Total income of the company rose to ₹3,529.31 crore in the reporting quarter from ₹3,165.59 crore in the same period a year ago. (PTI)
Companies led by Asia's richest man, Gautam Adani, and billionaire Mukesh Ambani, the owner of Reliance Industries have entered the fray to acquire India's debt-laden Future Retail Ltd, a document seen by Reuters shows.
April Moon Retail Private Ltd, a joint venture between Adani Airport holdings and Flemingo group, Reliance Retail ventures as well as 13 other firms have submitted expressions of interest (EOIs) for Future Retail.
Future Retail's court-appointed resolution professional (RP), Reliance Industries and Adani group did not immediately respond to emails seeking comment. (Read More)
Zomato Ltd said its fiscal second-quarter loss narrowed from a year ago on a sharp rise in its income from food delivery and its wholesale Hyperpure unit.
The company consolidated revenue from operations rose by 62.2 per cent to ₹ ₹1,661 crore as against ₹1,024 crore in the year ago period.
Zomato completed the acquisition of Blinkit in August. Hence, the earnings include about 50 days of Blinkit’s financials in the consolidated numbers, it said. Adjusted for Blinkit, the revenue grew 48 per cent year-on-year, which translates to annualized revenue of $ 1.05 billion.
"This is the first quarter where we have crossed the billion dollar annualized revenue mark," said Zomato in its filing. (Read More)
Adani Green Energy on Thursday posted a 49 per cent rise in its consolidated net profit at ₹149 crore in September quarter of FY23 compared to a year ago, mainly due to higher revenues.
The consolidated net profit of the company was ₹100 crore in the quarter ended on September 30, 2021, a BSE filing showed.
Total income of the company rose to ₹1,686 crore in the reporting quarter from ₹1,411 crore in the same period a year ago.
"With our focus on delivering the cheapest green electron, we have continued to deploy the latest and most innovative technologies to maximise electricity generation at a lower cost," said Vneet S Jaain, MD & CEO, Adani Green Energy, in a statement. (PTI)
Shares of DCX Systems Ltd is going to hit Dalal Street today. As per the information available on BSE website, DCX Systems IPO listing date has been fixed on 11th November 2022, this means DCX shares are going to make its debut in secondary markets today. Confirming about the DCX systems share listing date, BSE website informs, "The equity shares of DCX Systems Limited shall be listed and admitted to dealings on the Exchange in the list of 'B' Group of Securities in a Special Pre-open Session (SPOS) on Friday, November 11, 2022."
According to stock market experts, DCX Systems shares may have a strong debut today and DCX Systems share price may open in the range of ₹275 to ₹300 apiece levels. They said that in bear case DCX Systems shares may open around ₹275 levels whereas in bulls case, it may open around or above ₹300 levels. Experts went on to add that allottees may expect 35 per cent to 40 per cent listing gain from the public issue. (Read More)
U.S. stocks jumped, the dollar slid and Treasury yields dropped on Thursday as cooler-than-expected inflation data suggested the Federal Reserve's barrage of interest rate hikes are beginning to have their intended effect.
All three major U.S. stock indexes took off from the starting gate, with the S&P 500 charting a course for its biggest one-day jump since April 2020.
The Dow Jones Industrial Average rose 1,078.58 points, or 3.32%, to 33,592.52, the S&P 500 gained 181.11 points, or 4.83%, to 3,929.68 and the Nasdaq Composite added 657.34 points, or 6.35%, to 11,010.52.
The consumer price index (CPI) showed the prices paid by urban U.S. consumers for a basket of items cooled down in October, a welcome indication that the buckets of cold water the Federal Reserve has been dumping on the economy with its hawkish monetary policy are reining in decades-high inflation at last. (Reuters)
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