SUNAINA

Oil and Natural Gas Corporation (ONGC) posted a 15% decline in its net profit for Q1 FY 2024-25, totaling Rs 8,938.10 crore, down from Rs 10,526.78 crore in the same quarter last year. Sequentially, profit fell from Rs 9,869.37 crore in Q4 FY 2023-24. The decrease is attributed to a higher exploration cost write-off of … Read more

Asia Index, a BSE subsidiary, introduced the Sensex Next 30 Index, tracking top companies from the BSE 100 not included in the Sensex. Covering sectors like Financial Services, Energy, and IT, the index includes 30 companies and is weighted by free-float market capitalization. It will be reconstituted semi-annually and rebalanced quarterly. Investors can use this … Read more

State-owned MTNL has defaulted on bank loan payments totaling Rs 422.05 crore, including Rs 328.75 crore in principal and Rs 93.3 crore in interest for June and July. Defaults include Rs 155.76 crore to Union Bank, Rs 140.37 crore to SBI, and others. MTNL, with a total debt of Rs 31,944.51 crore, has sought Rs … Read more

The government reported that Rs 3.86 lakh crore worth of assets were monetized between 2021-22 and 2023-24. The coal sector led with Rs 1.54 lakh crore, followed by roads (Rs 81,556 crore), power (Rs 33,512 crore), and other sectors. Notable amounts include Rs 12,979 crore in shipping and Rs 9,800 crore in urban infrastructure. This … Read more

Finance Minister Nirmala Sitharaman reported that non-performing assets (NPAs) on Mudra loans have fallen to 3.4% in FY 2023-24, down from previous highs of 4.77% in FY 2020-21 and 4.89% in FY 2019-20. Private sector banks saw NPAs decrease to 0.95%, while regional rural banks’ NPAs dropped to 2.47%. The Mudra loan scheme, aimed at … Read more

The Indian government has confirmed that there are no current proposals for the merger of public sector general insurance companies. In response to a Lok Sabha query, Minister of State for Finance Pankaj Chaudhary stated that Rs 17,450 crore was infused into Oriental Insurance, National Insurance, and United India Insurance from 2019-20 to 2021-22 to … Read more

The Ministry of Ports, Shipping and Waterways (MoPSW) is developing a new shipbuilding scheme to incentivize Indian shipyards until 2035, aiming to rank among the top 10 shipbuilding nations by 2030 and the top five by 2047. Global cruise operator MSC Cruises has shown interest in deploying ships domestically. MoPSW is also exploring a joint … Read more

Godrej Properties reported a 20% increase in net debt to Rs 7,432 crore for the June quarter, up from Rs 6,198 crore in March 2024. This rise is attributed to higher capital spending on land and construction. Despite the increased debt, the debt-equity ratio improved to 0.71:1 from 0.62:1. The company saw a significant boost … Read more

Indian stock markets fell sharply on Monday, mirroring global declines following weak U.S. jobs data that raised recession fears. The Sensex dropped 2,037 points to 78,944, while the Nifty lost 661 points to 24,056. The India VIX, which measures market volatility, surged 50.42% to 22.90. The market capitalization of BSE-listed firms fell by Rs 17.03 … Read more

US Secretary of State Tony Blinken informed G7 foreign ministers that Iran and Hezbollah might launch an attack on Israel as early as Monday. This follows recent retaliatory threats from Iran and Hezbollah after Israel’s assassinations of Hamas leader Ismail Haniyeh and Hezbollah commander Fuad Shukr. Blinken sought G7 support to apply diplomatic pressure to … Read more