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Vodafone Idea Q1 loss narrows to Rs 3,754 crore post dues relaxation
The company posted a 10.2% rise in the customer ARPU. NEW DELHI: Debt-ridden telecom firm Vodafone Idea on Monday reported a narrowing of loss to Rs 3,754 crore in the first quarter of the current fiscal mainly on account of relaxation given by govt on dues. The company had posted a net loss of Rs…
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West Asia war fallout: Oil product exports find many new markets
Propelled by oil, Singapore has emerged as the third largest goods export destination for India NEW DELHI: The West Asia crisis has opened several new markets for India’s oil product exports, with Italy and Spain among those at the top of growth charts, while Singapore and Tanzania have zoomed past traditional destinations.Propelled by oil, Singapore…
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Oil price today: Brent crude jumps over 1% as traders await Hormuz reopening
Crude prices jump over 1% as Hormuz reopening Oil prices rose over 1% on Monday as prospects of reopening Hormuz remained stuck in limbo. Brent crude gained 1.32% to $84.65 a barrel, around 7:30 am IST while WTI crude rose 1.04% to $78.99 a barrel.The rise came after both benchmarks fell more than 7% last…
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US stock market today: Wall Street drifts near all-time high; crude oil prices rise
Earnings per share for S&P 500 companies are on course to be 50% higher than a year ago US stock market today: Wall Street benchmarks traded in a narrow range on Monday, with the market remaining close to record levels, while crude oil prices rose amid continued uncertainty over when the Strait of Hormuz would…
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India’s power demand hits new peak, evening supply gap widens to 3,045 MW
India’s electricity system faced a sharp rise in peak demand during the April-June period, with demand increasing around 12% from the same period last year and reaching a record 270.8 GW in May, the Rajya Sabha was informed on Monday.The pressure was particularly visible during non-solar hours in June, when peak electricity demand stood at…
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SpaceX retail investors turn net sellers for first time since IPO; offload $4.5 million worth of shares
The SpaceX share is trading slightly below its market debut price NEW DELHI: Retail investors turned net sellers of SpaceX shares on August 7, marking the first such instance since the company’s blockbuster public debut in June, according to Vanda Research.Individual investors sold a net $4.5 million worth of SpaceX shares on the day, reported…
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‘Broken overnight’: How stock market’s new closing auction is making traders jittery
The revised closing-price mechanism applies to more than 200 stocks with listed derivatives. India’s newly introduced closing price auction system has left traders jittery as they adjust to the new system. During the first week of trading under the new system, some traders said that one of the country’s most significant market structure reforms in…
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Ethanol or EVs? India needs both for cleaner mobility, says IFGE
India’s shift towards cleaner mobility will require multiple technologies rather than a choice between ethanol and electric vehicles, the Indian Federation of Green Energy (IFGE) said, pointing to the continued presence of nearly 300 million internal combustion engine (ICE) vehicles on the country’s roads.The federation said that ethanol, electric vehicles, hybrids, CNG and hydrogen should…
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BSE enters Nifty50, Wipro exits: What changes from September 30
BSE to enter Nifty 50, Wipro to exit in NSE’s September index rejig BSE Ltd will replace Wipro Ltd in the benchmark Nifty 50 index later this year, as part of the semi-annual review of the index by NSE Indices.The Index Maintenance Sub-Committee (Equity) of NSE Indices Ltd has decided to make the replacement, with…
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Beijing’s billion-barrel weapon: Why India must prepare for China-driven oil prices
Beijing increasingly controls the marginal barrel of demand – whether it is purchased, stored, released or withheld. For half a century, the global oil market has revolved around two centres of power. The Gulf, led by Saudi Arabia, controlled spare production capacity. The US supplied military protection and financial muscle to Gulf oil. Together, Washington…