Benchmark equity indices Sensex and Nifty declined nearly 1 per cent on Wednesday, falling for the fourth day running amid profit-taking by cautious investors ahead of the results of the Lok Sabha polls. The 30-share BSE Sensex declined 667.55 points or 0.89 per cent to settle at 74,502.90. It went below the 75,000 mark to hit the day's low of 74,454.55, plunging 715.9 points or 0.95 per cent.
The market responded positively to the Q1 results of oil marketing companies (OMCs), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) despite numbers being weaker than consensus. BPCL's reported gross refining margin (GRM) was in line at $7.9 per barrel (bbl) in Q1FY25, which implies marketing margin stood at Rs 4.8 per litre. Standalone profit after tax or PAT at Rs 3,000 crore was down versus consensus due to under-recoveries in LPG business.
Neeraj Chopra will have a special supporter at the Paris Olympics: a Kerala cyclist who has travelled all the way from Calicut, riding more than 22000 kilometers over two years.
The upgrade, said Icra, takes into account the "robust internal accrual generation, leading to low reliance on debt, as well as gearing levels, and strong debt protection metrics".
Consumers are unlikely to disconnect their mobile connections and will most likely absorb the up to 22 per cent tariff hike imposed last week by Jio, Airtel, and Vodafone Idea (Vi), according to analysts. The last major tariff hike in 2021 was followed by a 4-5 per cent SIM consolidation, with people leaving mobile operators with more expensive plans for their peers offering comparatively affordable options.
Bengaluru-based United Breweries (UBL), makers of Kingfisher beer, is eying strong growth in the premium beer segment, driven by changing consumer preferences towards premiumisation. "Across categories, premiumisation is taking place as people are looking for better choices and beer is no different. "People are upgrading to better beer and newer brands. We have a good offering of premium brands - Kingfisher's premium variants are Ultra and Ultra Max," Vikram Bahl, chief marketing officer (CMO), UBL, said in an interview.
Kavach 3.2 version is being installed on approved high-density routes, the railway officials said, adding that upgrading and installation of the latest version on new routes will go on simultaneously to cover a wider railway network in a shorter period.
Prime Minister Narendra Modi on Friday said the Agnipath scheme is an example of necessary reforms undertaken by the Army and accused the opposition of playing politics over the recruitment process aimed at keeping the average age in armed forces young.
Moody's Investors Service has changed the outlook for the long-term foreign currency deposit ratings of a number of Indian banks -- currently rated Ba2 -- from 'negative' to 'stable' for India.
The Union government has decided to upgrade 500 Industrial Training Institutes in the country in the next five years in the light of new skills required by industries.
DoT is even considering measures to urge private telecom operators to bring down their dependence on Chinese-made telecom equipment.
Babar remains the linchpin of Pakistan's batting, says captain Shan Masood
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'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
