In several cases, households that earlier booked LPG cylinders roughly once every 55 days had begun placing orders within just 15 days, raising concerns over possible stockpiling and diversion. The government has increased the minimum waiting period for booking domestic LPG cylinders from 21 days to 25 days in a bid to curb hoarding and…
Nifty IT index has plunged 21% in February so far, and is poised for its worst monthly performance in nearly 23 years. This has also weighed on the performance of the Indian stock market’s benchmark index, as the IT companies command over 10% weightage. IT stocks witnessed a breather on Wednesday, February 25, in an…
The ruling clears way for Vedanta’s vast operations to split into five separate units, of which four will focus on aluminum, power, oil & gas, and iron ore, respectively Vedanta Ltd on Tuesday secured approval from the National Company Law Tribunal (NCLT) bench in Mumbai to break up the oil-to-metals conglomerate into five separate units,…
IndusInd Bank and ICICI Bank shares jumped 2-3 percent each, and led the rally in the Bank Nifty today, taking the banking index to a record high. Bank Nifty hits new all-time high. The Bank Nifty scaled a new all-time high on Thursday, touching 58,609.2 in morning trade and rising 0.57 percent from the…
Strong demand and solid external finances support rating; high debt and fiscal gaps remain key constraints, Fitch says Fitch Ratings on Monday affirmed India rating at BBB- with a stable outlook on the back of robust growth and solid external finances. The credit rating agency mentioned that the fiscal metrics are a credit weakness, with…
Trump’s tariff shock: IT shares were the top Sensex and sectoral losers over fears of recession as experts see additional tariffs detrimental to the economic growth in the US. This would impact demand for services of Indian IT companies in that country. The Indian stock market recovered partially from the initial jitters of the…