Business

Oil prices hit their highest level in more than three months on Monday’s open, extending their rally on expectations that wider US sanctions will affect Russian crude supplies to the world’s top and third largest importers China and India. Brent crude futures climbed $1.35, or 1.69%, to $81.11 a barrel by 2339 GMT after hitting an intraday high of $81.44,...

Adani Group on Friday raised Rs 4,850 crore from the sale of 13.5 per cent of its stake in Fortune oil maker Adani Wilmar as part of a strategy to exit non-core activities to focus on main infrastructure business. The conglomerate, which last month announced its exit from Adani Wilmar by selling the bulk of its stake to a joint...

Tata Motors shares fell 3.2% to an intra-day low of Rs 769.45. The stock was among the major losers in the Nifty 50 on January 09. The drop in share price came after its subsidiary Jaguar and Land Rover (JLR) reported a fall of 3% in retail sales at 106,334 units in the October to December quarter of FY25. However,...

The government’s artificial intelligence programme unit IndiaAI and Microsoft have partnered to train 5 lakh individuals, including students, educators, developers, government officials, and women entrepreneurs on AI by 2026, a senior company official said on Wednesday. Microsoft India and South Asia President, Puneet Chandok told PTI that the USD 3 billion investment announced by the company’s Chairman and CEO Satya...

The benchmark equity indices closed in the positive on Tuesday. The 30-share Sensex rose by 234.12 points, or 0.30%, finishing at 78,199.11. The index traded between a high of 78,452.74 and a low of 77,925.09 during the session. The Nifty50 also closed higher at 23,707.90, up by 91.85 points, or 0.39%. The index reached a high of 23,795.20 and a...

Adani Wilmar Ltd (AWL), India’s largest edible oil company, is adopting a strategy similar to ITC’s by leveraging its core business and extensive distribution network to drive growth in its high-margin FMCG portfolio after the Adani group exit, according to sources. Just as ITC used its strong cigarette business to expand into FMCG, AWL is set to use its dominant...

The stock markets in India extended gains on January 2 with the benchmark indices surging nearly 2 percent each after consolidating within a range for almost two weeks amid heavy buying in financial, auto and IT shares. Sensex jumped 1,436.30 points or 1.83 percent — its best single-day gain in more than a month — to settle at 79,943.71. During the...

FSN E-Commerce Ventures, the operator of the Nykaa brand, on Tuesday reported a consolidated net profit of Rs 13.64 crore for the April-June quarter of the financial year 2024-25 (Q1FY25), marking a 152 per cent increase from Rs 5.42 crore in the same period last year (Q1FY24), the company said in a regulatory filing submitted to the stock exchanges.  Revenue...

Goldman Sachs, the New York-based investment bank, has outlined its strategic vision for Indian equities in 2025. The firm identifies major growth potential in sectors such as housing, agriculture, defense, tourism, and the rapidly growing segment of affluent consumers, which it believes will drive the next phase of economic expansion in India.  That said, analysts at Goldman Sachs believe the...

Atlanta-based fizzy drink maker Coca-Cola on Wednesday announced it had reached an agreement with Jubilant Bhartia Group to sell a 40 per cent stake in Hindustan Coca-Cola Holdings (HCCH).  HCCH is the parent company of Hindustan Coca-Cola Beverages (HCCB), Coca-Cola’s largest bottler in India.  According to sources, individuals familiar with the deal at Bhartia Group have signed non-disclosure agreements with...

Billionaire Mukesh Ambani-owned Reliance Industries is in talks with banks for a loan of as much as $3 billion to refinance debt due next year, according to people familiar with the matter.  About half a dozen banks are in discussions with the Indian conglomerate for the loan, which would be syndicated to wider market in the first quarter of 2025,...

IPOs this week: The primary market is set to remain active next week, with five mainboard companies and six SME companies preparing to launch their initial public offerings (IPOs). Ranging from fintechs to supermarket chains, these mainboard IPOs are expected to collectively raise over ₹19,000 crore, reflecting strong investor interest across diverse sectors. Vishal Mega Mart IPO will open for subscription...