Two more Indian-flagged LPG tankers have safely crossed the conflict-hit Strait of Hormuz and are headed towards Indian ports, even as 16 vessels remain stranded in the Persian Gulf, officials said on Monday, according to PTI.LPG vessel Green Sanvi, carrying 46,650 tonnes of cargo, is scheduled to reach an Indian port on April 7, while…
Finance Minister Nirmala Sitharaman on Monday said India stands out in debt management among major economies, with an overall debt-to-GDP ratio of about 81%, even as the global economy faces rising volatility and uncertainty, PTI reported.Speaking at an event organised by the National Institute of Public Finance and Policy (NIPFP), Sitharaman warned that the ongoing…
Hyderabad: Aurobindo Pharma’s board on Monday approved a Rs 800 crore share proposal to buy back up to 54.23 lakh fully paid-up equity shares of the company of face value Rs 1 each at Rs 1,475 a share.The proposed buyback, which is subject to regulatory and statutory approvals, represents up to 0.93% of the total…
The Supreme Court of India on Monday declined to stay proceedings in a plea filed by Vedanta Limited challenging the approval of AdGroup’s resolution plan for the takeover of insolvent Jaiprakash Associates Limited.A Bench led by Chief Justice of India Surya Kant observed that since the appeal is likely to be decided shortly by the…
Getting LPG cylinders is set to become easier for migrant workers, students and daily wage earners! The government, on Sunday, allowed 5-kg Free Trade LPG cylinders to be sold without address proof, making it simpler for migrant workers, students and daily-wage earners to access cooking fuel. All that is needed now is a valid ID…
Saudi Arabia has raised the price of its main crude grade for Asian buyers to a record high, as the Middle East conflict enters its sixth week and continues to disrupt global energy flows worldwide.The kingdom’s oil giant Saudi Aramco has set the cost of its Arab Light crude for May sales to Asia at…
Why are bond yields rising?Bond yields are climbing due to a combination of rising crude oil prices and a weakening rupee, both of which add to inflationary pressures. India’s 10-year benchmark yield has risen to around 7% from 6.68% a month ago. Crude oil prices have surged to $115–$120 per barrel, and with India importing…
Rupee stood firm on Monday, gaining 33 paise to reach 92.85 against the US dollar in early trade. This follows intervention by the Reserve Bank of India, as the bank stepped in to support the currency. The RBI tightened norms to curb speculative positions and capped banks’ net open positions at $100 million, even as…
Stock market began the week in red as tensions in the Middle East continue to intensify and benchmark indices tumble over 0.2%. While NSE Nifty50 opened below 22,800, BSE Sensex tumbled over 300 points. Around 9:25 am Nifty50 traded at 22,666.90, down 46 points or 0.2%. The 30 share pack Sensex also slipped 197 points…
NEW DELHI: Moody’s Ratings has slashed India’s economic growth estimates for the current fiscal to 6% from 6.8% earlier, saying the ongoing conflict in West Asia will moderate growth momentum and raise inflation risks.In its credit opinion report on India, Moody’s said prolonged disruptions, particularly LPG shipments due to the conflict, would lead to near-term…
