ONGC’s Q1 Profit Soars: Crude Price Surge Fuels Doubled Earnings Amid Production Stability
India's oil giant ONGC reported a spectacular Q1, with profits more than doubling to ₹17,034 crore. Driven by robust crude oil prices and enhanced realizations, the company showcased significant financial strength despite minor production dips, promising…
Ministry of Petroleum Dispels Fuel Adulteration Claims After Extensive Quality Checks
The Ministry of Petroleum announced that extensive testing of over 2,000 fuel samples revealed only two cases of adulteration, debunking widespread claims. New quality measures, including daily water ingress testing, have been implemented, with stringent…
India’s Forex Fortunes Surge: RBI’s Special Swap Facility Draws Over $40 Billion in Capital Inflows
India's foreign exchange reserves received a massive boost, with the RBI's special swap facility attracting over $40.8 billion in capital inflows by July end. FCNR(B) deposits were the primary driver, nearly doubling the total in just two weeks and…
Moody’s Assigns Inaugural Baa2 Rating to RBL Bank: A Landmark Achievement for the Indian Lender
RBL Bank has achieved a significant milestone, securing its inaugural Baa2 credit rating from Moody's Investors Service. This investment-grade designation marks a pivotal moment, enhancing the bank's financial standing and future growth prospects in the…
SEBI Imposes One-Year Market Ban on Zee’s Subhash Chandra and Punit Goenka Over Alleged Fund Diversion
SEBI has banned Zee's Subhash Chandra and Punit Goenka from the market for one year, citing fraudulent pledging of company land for personal loans. The regulator also imposed fines, emphasizing strict action against misuse of corporate assets and breach…
Zepto Postpones IPO Amidst Valuation Challenges, Seeks Pre-IPO Funding
Zepto has postponed its IPO for 2-3 quarters, seeking Rs 1,000 crore in pre-IPO funding at a revised $4-4.5 billion valuation. The quick commerce startup faced tepid investor response to its initial valuation expectations, reflecting a cautious market…
Zee Entertainment Secures Shareholder Approval for Promoter Warrants, Fuels Expansion Capital
Zee Entertainment shareholders have approved the issuance of convertible warrants to its promoter group, set to infuse over ₹3,000 crore into the company and significantly increase the promoters' stake. This decision reverses a prior rejection, signaling…
Zepto Postpones IPO, Seeks Rs 1,000 Crore Pre-Listing Funding at Revised Valuation
Quick commerce firm Zepto is delaying its IPO, seeking Rs 1,000 crore in pre-IPO funding at a revised $4-4.5 billion valuation, down over 30% from its previous $7 billion. This strategic move aims to secure capital amidst evolving market conditions and a…
Tata Steel Concludes Quarter-Century Martrade Venture, Unveils Major NINL Expansion
Tata Steel ends its 25-year joint venture with German firm Martrade, acquiring its stake for Rs 335 crore. Concurrently, the steel giant commits Rs 33,873 crore to expand Neelachal Ispat Nigam, boosting its long products and retail offerings amidst…
India’s Industrial Production Soars to 22-Month High with 7.3% Growth in June
India's industrial production surged by 7.3% in June, marking a 22-month high, fueled by robust growth in manufacturing and electricity sectors. This strong performance signals resilience amidst global economic headwinds, though future output faces…