India's largest oil and gas producer ONGC will this year reverse years of decline in production and gradually raise output thereafter, as it invests billions of dollars to produce from newer discoveries, a top company official said. Oil and Natural Gas Corporation (ONGC) in fiscal 2021-22 produced 21.707 million tonne of crude oil, which is [...]
Domestic equity market started on a positive note on Tuesday, with Sensex rising 109 points and Nifty trading with moderate gains amid positive cues from other Asian markets. Investors in Asia seemed to be more positive even as the US market declined on Monday after strong data on jobs last week renewed worries about Federal [...]
Steel major Tata Steel on Monday reported a consolidated net loss of Rs 2,501.95 crore in the quarter ended on December 31, 2022, on account of higher expenses. The company had posted a net profit of Rs 9,598.16 crore in the year-ago period, according to a regulatory filing. Total income on a consolidated basis fell [...]
The government has received various representations to merge RINL with SAIL or NMDC, Parliament was informed on Monday. At present, Rashtriya Ispat Nigam Ltd (RINL) has a strength of 4,875 executives and 10,005 non-executive employees, Minister of State (MoS) for Steel Faggan Singh Kulaste said in a written reply to Rajya Sabha. To a question [...]
Tata Sons chairman N Chandrasekharan will head the Maharashtra state Economic Advisory Council (EAC) which also includes Karan Adani and Anant Ambani, a government resolution said on Monday. Karan Adani, the CEO of Adani Ports and SEZ Ltd, is the son of Gautam Adani, who is battling allegations of stock manipulation and fraud in Adani [...]
Hitachi Energy India on Monday reported a more than 92 per cent decline in its net profit to Rs 4.6 crore in the December 2022 quarter due to lower revenues. The net profit of the company was Rs 61.7 crore in the quarter ended December 2021, a BSE filing showed. Its total income also dipped [...]
Bandhan Bank on Monday said it has hiked interest rates on fixed deposits by 25-50 basis points based on the maturity period. The revised FD rates are applicable for retail deposits of up to Rs 2 crore, and are effective from February 6, the Kolkata-based lender said in a release. This is the bank's second [...]
The enforcement directorate has attached Rs 936 crore proceeds of crime and arrested 5 five persons related to crypto currency fraud, Parliament was informed on Monday. Further, under the Foreign Exchange Management Act, 1999 (FEMA), assets amounting to Rs 289.28 crore have been seized and one show cause notice to cryptocurrency exchange Zanmai Labs Pvt [...]
Adani Transmission Ltd (ATL) on Monday posted a nearly 73 per cent jump in its consolidated net profit to Rs 478 crore in the December quarter of 2022-23 on the back of a one-time income gain and higher revenues. The consolidated net profit of the company was Rs 277 crore in the quarter ended on [...]
The growth momentum of Indian IT services industry is likely to slow down in the near to mid term as macroeconomic headwinds trigger lower discretionary IT spends, ICRA said on Monday. Ratings agency ICRA sees lower hiring by the IT service companies in the near term given that excess capacities were added in FY2022 and [...]
