Oil prices were mixed on Monday after renewed military strikes between the U.S. and Iran over the weekend reignited concerns over crude supplies from the Middle East. U.S. West Texas Intermediate futures rose 0.4% to $69.52 per barrel, paring some gains after briefly rising above $70. WTI settled below $70 on Friday for the first time since Feb. 27...
Adani Power is targeting thermal power capacity addition of 23,720 MW by FY32 with an estimated capital expenditure of ₹2 trillion. This will include 22,400 MW through 12×800 MW ultra-supercritical projects and 1,320 MW through 2×660 MW supercritical projects. In its presentation to stakeholders at the annual general meeting on Thursday, the company said that,...
Oil prices continued to decline on Thursday, 25 June, moving closer to levels seen before the conflict, as tankers stranded near the Strait of Hormuz resumed transit following an initial agreement to end the US-Israeli conflict with Iran, reducing fears of supply disruptions. Brent crude futures for August delivery were down 40 cents, or 0.54%, at...
Banks raised more than Rs 1 trillion through certificates of deposit (CDs) in the fortnightended June 15, the highest since the March 31 fortnight, when mobilisation usually risesdue to year-end funding requirements.
CRED founder Kunal Shah is all set to join Meta to lead WhatsApp at the global level. According to the reports, Meta is investing USD 900 million (approximately Rs 8,550 crore) in CRED. Shah announced on Monday that he is stepping down from his operational role as CEO of the fintech company. The announcement comes alongside Meta’s...
Reliance Industries’ 49th Annual General Meeting has begun. Chairman Mukesh Ambani highlighted that “Jio Platforms has approved its DRHP, and it will be filed with SEBI today.” This is a deeply emotional moment for me, for the entire Reliance Family, and millions of its shareholders. The relationship Reliance shares with its shareholders is a deep and sacred relationship...
The rupee appreciated for the third straight session on Tuesday to close 5 paise higher at 94.53 (provisional) against the US dollar, supported by easing West Asia tensions and extended fall in crude oil prices. Forex traders said that with the reported de-escalation of the US-Iran conflict and diplomatic agreements regarding the Strait of Hormuz,...
Reliance Jio Infocomm could file draft papers for its expected $4 billion initial public offering (IPO) within days and just before Reliance Industries Ltd (RIL) chairman Mukesh Ambani’s annual speech to shareholders on Friday, the Financial Times (FT) reported on Wednesday, citing sources. The FT said Ambani had told shareholders last year that the telecom...
The Indian rupee rose against the U.S. dollar for a second straight session on Monday, as oil prices plunged following the U.S.-Iran preliminary agreement to end their conflict and reopen the crucial Strait of Hormuz. The announcement added to the strength that the currency built after the Reserve Bank of India’s measures to attract dollars into the...
The long-awaited listing of the Vedanta Group’s four demerged companies will finally take place on Monday, marking the completion of billionaire Anil Agarwal-led Vedanta’s ambitious restructuring exercise. The demerger, which became effective on May 1 after receiving approval from the National Company Law Tribunal (NCLT), will see shareholders of Vedanta receive shares in four newly...