Taking advantage of a Russian offer to sell its crude oil cheap and bear the cost of insurance and transportation, India may import as much as 2 million tonnes (mt), or roughly 15 million barrels of crude, from the sanctioned nation in 2022, Business Standard has learnt. This comes after reports that Indian Oil Corporation (IOC) bought 3 million barrels of Russian Urals from trader Vitol for May delivery. This will be on cost, insurance and freight (CIF) model, where the seller incurs the costs and pays the freight, including insurance charges.
Sensex hit a record high of 27,225.85 and Nifty hit a record high of 8,141.90 in the intra-day trades today.
The notice stated that the actor said in her tweet that the "same Dadi" who featured in Time Magazine was "available in 100 rupees".
With capacity for 110,000 spectators, the Motera Stadium will dislodge the Melbourne Cricket Ground as the world's largest cricket stadium.
The sweeping economic sanctions on Russia - the second largest producer of crude oil - following its invasion of Ukraine late last month can cull global and domestic growth along with the added pains of higher inflation and currency depreciation, RBI Deputy Governor Michael Patra has said. And if the war lingers on, it can even lead to deglobalisation and even a recession, he added. The ongoing war has only added a whole new dimension to the outlook, and in fact, a weighty downside, Patra said in a lecture at the industry lobby IMC on Friday evening.
Tata Steel was the top loser in the Sensex pack, sinking over 5 per cent, followed by SBI, IndusInd Bank, Bajaj Finance, HDFC Bank and NTPC. NSE Nifty tanked 371 points to 16,614.20.
'Overtightening of monetary policy by central banks and the spread of new Covid variants, which may force governments to restart lockdowns or restrict mobility.'
Five people in the know narrate the sordid story that is fast exploding into a pornography scandal, allegedly involving businessman Raj Kundra.
However, it may still not change its stance on the policy rate as inflationary pressures are coming from high commodity prices.
Government-controlled oil-marketing companies (OMCs) have held back petrol and diesel price revisions for a week and are expected to continue doing so, ostensibly owing to political reasons. It appears that the Centre has informally conveyed to the three major OMCs to not revise fuel prices for the time being, two people in the government said. This informal directive follows the talks between the Centre and states on cutting taxes and bringing the auto fuels under the good service tax regime not fetching the desired results, so far.
Can you help this Indian achieve aviation history?
That such a deal can be greeted with celebration in the camps of both buyer and seller speaks volumes about the airline and its recent history, explains T N Ninan.
The oil crisis could not have come at a worse time for the Modi government as its tax collection has fallen short of its 2020-2021 target by Rs 5.2 lakh crore.
Digital canvassing is expected to benefit from political money looking for alternative blow horns.
IT major nears $100 bn m-cap, accounts for 61% of the group's combined valuation.
IndusInd Bank was the top laggard in the Sensex pack, falling over 5 per cent, followed by HDFC, Axis Bank, PowerGrid, SBI, Bajaj Finserv and Bharti Airtel.
Investing in the US market provides Indian investors a hedge against the rupee's long-term tendency to depreciate against the dollar.
To put its Reebok business in order, the German footwear major hand-picked the soft-spoken Erick Haskell, who has vast experience of working in China.
The uptick in prices ranging from steel to wheat could benefit lots of commodity-based companies -- from State-owned SAIL to the agro exporters.
India imports 1.2 billion barrels of oil, and oil prices are falling, falling...
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Currently, the ATM withdrawal limit from savings bank accounts stands at Rs 2,500 a day, but most ATMs are dispensing only Rs 2,000 notes or Rs 100
The central drug regulator has issued show cause notices to these two importers and asked to stop the import of rapid test kits based on the observation by the apex health research body Indian Council of Medical Research (ICMR).
Gold prices recovered by Rs 100 to trade at Rs 27,200 per 10 gm at the bullion market.
Bank of America (BofA) Securities expects India to be the third-largest economy in the world by 2031. The economic rise could become a reality by 2028, but the Covid pandemic delayed the pace, BofA Securities economists Indranil Sen Gupta and Aastha Gudwani wrote in a report.
Sensex gained nearly 0.4% or 96 points at 26087 level while Nifty ended up by 42 points or 0.5% at 7,791.40 level.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
Reliance was the top gainer in the Sensex pack, surging over 3 per cent, followed by ICICI Bank, Bharti Airtel, Dr Reddy, Maruti and ITC.
'This is a good time to restructure your portfolio because the sectors and stocks that performed in the last bull market may not perform as much now.'
Pune-based entrepreneur's unlisted company is already the largest vaccine manufacturer in the world and the networth has been helped by vaccine distribution and manufacturing potential of his business, it added. Recentrly, Serum struck an agreement with AstraZeneca to manufacture 1 billion doses of coronavirus vaccine being developed by Oxford University.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Game streaming is becoming a serious professional choice for youth, as it allows them to make good money.
A surge in foreign inflows is seen as the major reason behind the latest market surge.
'One evening, my mother announced during dinner that we would open a Cumulative Time Deposit account in the post office. 'My father froze. 'The handful of curd rice that he had just put into his mouth remained there for a few extra seconds.' Colonel K Thammayya Udupa (retd) recalls an important decision that changed his family's life forever.
There is no direct impact of the Russia-Ukraine crisis on India in terms of bilateral trade but a surge in oil prices poses considerable risk to the economy, an analyst report said on Friday. International oil prices which have surged past $100 per barrel "pose risks to external stability and currency movement," a Bank of Baroda Economics Research report said. Russia has launched military operations against Ukraine, stoking fears of significant disruption in the region, including loss of life. The West is ramping up financial sanctions against Russia and support for Ukraine.
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
69-year-old Milon Sanyal writes about the books his Baba gifted him.
Waqar said a group of fast bowlers including young ones in domestic cricket would also be sent for training and work to the high-performance centre in Lahore to keep them ready for national duty.
M&M was the top gainer in the Sensex pack, soaring around 7 per cent, followed by Bajaj Finserv, Bharti Airtel, PowerGrid, Infosys and ICICI Bank. On the other hand, HUL, Kotak Bank, Bajaj Finance and ITC were among the laggards.
The SCA Stadium has seen largely empty stands on the first three days of the opening match of a five-Test series between India and England and local organisers blame it on the cash crunch.
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