Reliance Industries Ltd (RIL) on Friday reported a 9.6 per cent year-on-year rise in net profit for the September quarter, driven by strong performance in its consumer-facing retail and telecom businesses and a recovery in its core oil-to-chemicals segment.
The Congress party has accused Union Minister Nitin Gadkari of conflict of interest, alleging his sons' companies have benefited from the government's ethanol blending policy. The BJP has rejected the allegations.
'The steel industry has a multiplier effect on direct and indirect employment, national security on the supply chain, technology access etc.'
'Some buyers get carried away by festival offers and purchase higher variants or larger vehicles than they truly need, which impacts running cost and long-term affordability.'
After four failed reform drives, a new plan aims to rescue India's debt-laden power discoms through privatisation, accountability and long-term financial fixes.
According to reports, the price of petrol is expected to go up by Rs 5 and diesel by Rs 6.
In five monthly reduction, non-domestic LPG rates have been slashed by Rs 170.5 per cylinder, bringing the price at three-year lows.
Indian rupee slipping below the record 88 level against the US dollar will enhance price competitiveness of Indian products in global markets and help exporters diversify beyond the US market, say exporters. However, import-dependent sectors such as gems and jewellery, petroleum and electronics may see lower benefits due to a rise in input costs, they stated.
High energy costs, long a drag on India's manufacturing competitiveness, are finally easing. Power and fuel expenses accounted for 1.98 per cent of net sales in 2024-25, the lowest level in data compiled by the Centre for Monitoring Indian Economy (CMIE) over the past two decades.
The cumulative increase since the oil companies started the cycle on June 7 now totals to Rs 9.17 for petrol and Rs 11.14 for diesel.
Dominic Xavier offers his take on the latest blow to personal finances.
How the UN's flagship climate summit lost its direction and what's at stake.
The government on Monday ruled out any immediate increase in petrol and diesel prices despite a spurt in international crude oil prices.
Minister of State for Food and Public Distribution Kantilal Bhuria told the Lok Sabha in a written reply that there was no immediate impact of the hike in petrol and diesel prices on essential commodities. Impact of some of the factors, including hike in prices of petrol and diesel could be felt only with a time-lag. While price of rice went up, prices of wheat, atta, chana dal, tur dal, sugar, mustard oil, vanaspati, milk & onion did not rise during the period under review.
India's crude oil imports from Russia saw a marginal decline in September, but continued to account for over one-third of the country's total oil purchases, despite US pressure to curb the trade over concerns that it supports Moscow's war effort in Ukraine. India's crude imports in September were around 4.7 million barrels per day, up 220,000 bpd month-on-month and flat year-on-year.
Essar Oil has decided to cut petrol and diesel prices in the range 50 paise to Rs 2.50 per litre effective from July 16.
Gold prices on Tuesday surged Rs 723 to touch an all-time high of Rs 110,312 per 10 grams in the domestic futures market, tracking strong global cues amid growing expectations of a US Federal Reserve interest rate cut next week. Traders said weak US labour market data has strengthened the case for monetary policy easing, putting pressure on the dollar and boosting demand for the safe-haven asset.
If sources in the Congress party are to be believed, a hike in the price of petrol, diesel and cooking gas seems "inevitable".
Do home prices really never fall? Ramalingam Kalirajan begs to differ.
The Congress core group, which includes UPA Chairperson Sonia Gandhi, will meet to vet the proposal before it goes to the Cabinet.
As the government announced a Rs 7.50 per litre hike in petrol price from midnight, anger was written on the faces of many people.
A graphic showing how the average prices for petrol and diesel have moved over the last ten years.
'This festival season, advance airfares for major metros are up 20 to 25 per cent from last year.'
The government's decision to raise fuel prices in June has scuttled the oil companies' plans to reduce their losses from retail fuel sales as consumers are buying less of premium fuels, which is more expensive than normal fuels.
In terms of safety, the Victoris has scored 5 stars in both GNCAP and BNCAP tests and that's a first for Maruti, observes Somnath Chatterjee.
Most of the participants in our poll believed that the hike in petroleum product prices is a positive trigger for companies.
State-owned Indian Oil, Bharat Petroleum and Hindustan Petroleum currently lose Rs 180 crore per day.
The government on Tuesday ruled out any rollback of last month's increase in prices of petrol, diesel and LPG, and said a policy for pricing of major petroleum products was under review.
Govt unlikely to cut excise duties to compensate for higher global prices, say analysts.
Taming the animal called AI in its many avatars will clearly remain a work in progress.
In a clear move to protect consumers from hardening global oil prices, the government will announce by June 15 a new pricing policy for petrol, diesel and LPG that may include lower duties and targeted subsidies.
The quantum of hike had not yet been worked out, but it was likely to be Rs 2 a litre for petrol and Re 1 a litre for diesel.
The Indian benchmark remained static in its last closing on May 28, while Brent prices dropped further to $75.71 a barrel. Less Brent crude in Indian basket makes prices sticky.
Oil marketing companies (OMCs), paint manufacturers, tyre producers, and aviation stocks witnessed significant gains as Brent crude oil prices slipped below $70 per barrel. The price drop came after a double blow: The US imposed tariffs on Canada and Mexico, including energy imports, and OPEC+ - the group of major oil-producing nations including Russia - announced an output increase of 138,000 barrels per day, the first such hike since 2022.
The Congress core group is meeting later in the evening where the implementation of Kirit Parikh Committee report on fuel pricing reforms may be discussed.
The ministerial panel is now likely to meet on June 24 or 25.
Close on the heels of steep increase in diesel price and cap on supply of subsidised LPG, President Pranab Mukherjee on Monday said greater alignment of domestic rates with global prices was in the interest of both consumers and investors.
Finance Minister Pranab Mukherjee on Friday ruled out rollback of petrol and diesel price hike saying the nation's fiscal condition did not permit him to do so.
Wholesale price inflation rose to 2.37 per cent in December 2024, led by spike in manufactured products even though prices of food items eased, government data released on Tuesday showed.
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