Jio IPO gets Sebi approval MUMBAI: Jio Platforms, the digital arm of Mukesh Ambani’s Reliance Industries, has secured Sebi clearance for an initial public offering (IPO) expected to raise up to $4 billion, setting the stage for what could be India’s largest-ever stock market debut.In a stock exchange filing on Friday, RIL said Jio Platforms…
Corporate sales growth accelerated to 19.4% in Q1FY27 but net profit growth slowed to 14.1% as input costs and taxes rose. MUMBAI: The private corporate sector began FY27 with a marked acceleration in sales, but the improvement was less impressive at the bottom line as rising input costs and tax provisions absorbed much of the…
Reliance Industries has denied allegations made by Essel Group chairman Subhash Chandra. Chandra claimed Ambani’s media group conducted a witch hunt against him. He also alleged associates manipulated Zee’s share price and used shell entities. Chandra further stated Ambani sought to acquire Zee in collusion with an investor. Lenders are now challenging a tribunal-approved settlement…
Industrial production grows 6.7% in July, driven by manufacturing and electricity, cooling from June’s 8.8%. NEW DELHI: Industrial production grew 6.7% in July as compared to 5.4% expansion a year ago as the manufacturing and electricity sector saw robust growth, the index of industrial production (IIP) data released Friday showed.Sequentially, the industrial production cooled from…
US Fed chairman Kevin Warsh Federal Reserve Chair Kevin Warsh has indicated that the US central bank may need to raise interest rates in the coming months if inflation does not make enough progress towards its 2% target.Speaking at the Fed’s annual conference in Jackson Hole, Wyoming, on Friday, Warsh acknowledged that recent US data…
India Inc sales growth accelerates to 19.4 per cent in Q1 FY27, manufacturing leads recovery: RBI MUMBAI: The country’s foreign exchange reserves rose by $12.4 billion in the week ended Aug 21, to an all-time high of $729.3 billion, driven largely by non-resident deposits drawn through a special scheme under which RBI took over the…
Sensex, Nifty rebound on IT stock rally; Sensex climbs 331 points to 77,265, Nifty gains 85 points to 24,176. MUMBAI: Benchmark equity indices sensex and Nifty rebounded on Friday after two days of losses and ended higher, tracking buying in blue-chip IT stocks and a rally in global markets. The 30-share BSE sensex climbed 331…
IGL has raised CNG prices in Delhi-NCR by Rs 3.89 per kg Compressed natural gas (CNG) consumers in Delhi and several other cities will have to pay more from Saturday, with Indraprastha Gas Ltd (IGL) announcing a Rs 3.89 per kg increase in prices amid a sharp rise in the cost of imported liquefied natural…
Tata Group in talks with Shapoorji Pallonji for potential share swap or buyout of its 18.4% stake in Tata Sons. The Tata Group is in talks with its biggest minority shareholder on proposals to unlock liquidity, including a potential swap of shares of its listed entities, as the Shapoorji Pallonji Group seeks funds to repay…
Federal Reserve Board Chairman Kevin Warsh speaks on inflation Federal Reserve chairman Kevin Warsh warned inflation isn’t meaningfully slowing and said policymakers must be confident that it is, otherwise the central bank has “work to do.” In a sweeping speech, his first since becoming chairman of the central bank in May, Warsh reiterated that policymakers…
