Business

Stock Market Today: Analysts say recent swings reflect technical adjustments, not weakening market fundamentals Market experts attributed the recent volatility primarily to the introduction of the Closing Auction Session rather than any deterioration in the broader economic outlook. According to Hariselvan Radhakrishnan, Founder and CEO of HST Wealth, benchmark indices experienced a phase of recalibration…

After two sessions of registering a fall, oil prices inched higher on Wednesday, as the crucial Strait of Hormuz continues to see disruption. Oil prices rose slightly on Wednesday after two days of steep losses, with markets closely watching efforts to end the US-Iran war and restore shipping through the Strait of Hormuz.Brent crude futures…

People walk past a store of Nykaa, an Indian beauty products retailer, at a mall in New Delhi BENGALURU: Beauty and fashion retailer Nykaa will acquire a 51% stake in premium skincare brand Aminu for up to Rs 32 crore. Meanwhile, its consolidated net profit more than tripled in the June quarter on the back…

MUMBAI: India’s payment industry has long been calling for higher subsidies or a controlled introduction of merchant discount rate (MDR) to recover transaction costs. The decision to allow MDR or higher value business payments will help to turn many business models sustainable and thereby increase competition in an industry that is currently a near duopoly…

US oil giants are “making too much money”, and Donald Trump is not happy about it.US President Donald Trump on Monday took aim at Exxon Mobil and Chevron, accusing the oil producers of profiting from supply shortages while motorists continue to pay elevated fuel prices. He further urged them to cut retail fuel prices instead…

Policymakers are evaluating two broad models for introducing a Merchant Discount Rate for UPI payments. India has taken a step towards allowing merchant charges on Unified Payments Interface (UPI) transactions after proposed amendments to the country’s payments law were introduced in Parliament on Tuesday.UPI, among the world’s largest real-time payment systems, handled 23.6 billion transactions…

NEW DELHI: India’s second largest telecom operator Bharti Airtel saw its Q1 profit soar 37.3% to Rs Rs 8,167.4 crore this Q1, from Rs 5,947.4 crore in same period last fiscal thanks to higher mobile tariffs, strong customer additions and growth across its India and Africa businesses. Revenue in the same period rose 18.4% to…

The Enforcement Directorate (ED) is investigating 32 bank fraud cases involving 54 accused who have left the country, minister of state for finance Pankaj Chaudhary told the Rajya Sabha on Tuesday. The cases are being probed under the Prevention of Money-laundering Act (PMLA), 2002.Sharing details in a written reply, Chaudhary said that the agency has…

State-owned Oil and Natural Gas Corporation (ONGC) reported a more than two-fold jump in its profit for the April-June quarter on Tuesday. The spike was fueled by higher crude oil prices and improved realisations, even as oil and gas production remained broadly stable.According to a stock exchange filing, the company posted a net profit of…

Such growth would be the strongest earnings expansion since the extraordinary rebound in the spring of 2021. US stock market today: Wall Street moved closer to fresh record highs on Tuesday as easing oil prices and another round of strong corporate earnings lifted investor sentiment.The S&P 500 gained 0.6% and was on course to surpass…