MUMBAI: Extended supply chain disruptions from the West Asia conflict could shave around 200 bps (100 bps= 1%) off India Inc’s operating profitability this fiscal year, pulling margins down from a pre-conflict expectation of around 12%, according to a stress test by Crisil Ratings.The agency assessed 34 sectors accounting for 65% of its rated corporate…
MUMBAI: As quantum computing moves from theory towards application, the RBI has set up an expert committee for a quantum-secure and adaptive financial ecosystem to assess how a technology that can solve complex financial problems could also threaten existing cryptographic standards.Quantum technology is different from regular computing because it can handle multiple possibilities at the…
MUMBAI: The rupee gained paise to close at 95.23 against the dollar up 46 paise from its previous close of 95.69 following statements from the RBI governor in support of the currency combining with a softening of crude oil prices in the international market on hopes of an Iran-US truce.“The rupee has strengthened, and the…
Union finance minister Nirmala Sitharaman on Monday said the government is willing to listen to concerns raised by stock market investors regarding the taxation framework for Long-Term Capital Gains (LTCG) and Short-Term Capital Gains (STCG).Speaking to reporters on the sidelines of the TEXPROCIL Export Awards event, Sitharaman said the Centre remains open to suggestions from…
NEW DELHI: Petroleum ministry officials told a parliamentary panel on Monday that there is 78 days of crude stock and assured there is no shortage of LPG, in response to questions from several members over “long queues” at fuel stations in some parts of the country.The panel on transport, tourism and culture headed by JDU…
NEW DELHI: Petrol prices breached the Rs 100-a-litre-mark in the capital on Monday after state-owned oil companies effected the fourth hike in retail fuel rates in 11 days, raising petrol prices by another Rs 2.61 to Rs 102.12 a litre to cut losses from selling auto fuels below market cost. Petrol price was last past…
The rupee appreciated by 34 paise to close at 95.26 against the US dollar on Monday, marking its third consecutive session of gains, amid improving global sentiment over a possible peace agreement between the United States and Iran.According to news agency PTI, the rupee strengthened as optimism grew around easing tensions in West Asia and…
Stock markets are set for a shortened trading week, with the National Stock Exchange and BSE scheduled to remain closed on Thursday, May 28, on account of Bakri Eid.This will be the second trading holiday in May after markets remained shut earlier this month on May 1 for Maharashtra Day.The holiday means equity, equity derivatives…
The government on Monday said it is closely monitoring fuel supplies across the country and taking immediate corrective measures to prevent shortages, amid panic buying and dryouts reported at petrol pumps in parts of Gujarat, Maharashtra and Uttar Pradesh.Sujata Sharma, joint secretary in the ministry of petroleum and natural gas, said India has sufficient stocks…
Oil prices tumbled over 5% on Monday, falling below the $100 per barrel mark, buoyed by optimism over a potential agreement aimed at ending the US-Iran war. The market reaction came even as US President Donald Trump sought to cool expectations of an imminent breakthrough.At around 7:40 am, WTI Crude was trading at $92.41, down…