Business

The government has asked state-run fuel retailers to expand liquefied petroleum gas (LPG) storage capacity to cover at least 30 days of demand, as supply disruptions linked to the West Asia conflict highlighted the need for larger reserves, PTI reported.“We are working on the strategic reserves. Oil marketing companies have been asked to work out…

Investor wealth shrank by Rs 5.77 lakh crore on Friday as a sharp bout of selling in the final hour of trade dragged benchmark indices deep into the red amid concerns over a weaker monsoon outlook and geopolitical uncertainty.The BSE Sensex plunged 1,092.06 points, or 1.44 per cent, to settle at 74,775.74. During the session,…

With a biofuel in the mix, E20 petrol aims at lowering emissions, at the same time reducing the requirement of petrol in the fuel mix. (AI image) For a country that imports over 85% of its crude needs, any savings in the oil imports bill is important. With the Middle East conflict and the US-Iran…

India’s largest airline IndiGo reported a consolidated net loss of Rs 2,536.9 crore for the March quarter compared with a profit of Rs 3,067.5 crore a year earlier, as sharp rupee depreciation and a challenging operating environment weighed on its performance, PTI reported.The airline’s total income rose more than 3 per cent to Rs 23,830.7…

US stocks opened higher on Friday, extending their record-setting rally as strong earnings and growing optimism around artificial intelligence outweighed concerns about inflation and the economic impact of the conflict involving Iran.The S&P 500 rose 0.4 per cent in morning trade, building on six consecutive gains and putting the benchmark index on track for a…

Capital markets regulator Sebi has imposed penalties totalling Rs 28.95 crore on Suzlon Energy, its chairman and managing director Vinod R Tanti, promoter Girish R Tanti and others for alleged misstatements in the company’s financial disclosures spanning several years, PTI reported.In a 96-page order issued on Friday, Sebi said Suzlon Energy Ltd’s financial statements did…

India’s foreign exchange reserves fell by $7.511 billion to $681.384 billion in the week ended May 22, extending their decline for a second consecutive week, according to data released by the Reserve Bank of India (RBI) on Friday, reported PTI. The reserves had dropped by $8.094 billion in the previous reporting week to $688.894 billion….

Indian equity markets witnessed a sharp selloff on Friday, with the Sensex plunging more than 1,000 points and nearly Rs 5 lakh crore being wiped off investor wealth, as worries over a weak monsoon forecast, continued foreign investor selling and uncertainty around a US-Iran peace deal rattled sentiment.The Sensex closed 1,092.26 points lower at 74,775.74,…

Mumbai: Reserve Bank of India has set for itself a packed agenda for 2026-27 with a review of the RBI Act and major technology upgrades, including the rollout of the next-generation core banking system e-Kuber 3.0, development of an alternate payment system, and creation of a unified enterprise platform. It also plans to build an…

The US expects to finalise an interim trade agreement with India in the coming weeks and months as both countries work to deepen economic and technology ties, US Ambassador to India Sergio Gor said on Thursday.“Our current interim trade agreement is on the table for us to finalise that will unlock prosperity for both of…