BUSINESS
With global crude fluctuating, OMCs to wait & watch on fuel
Global crude prices have swung in all directions in July starting with a low of $70 a barrel to quickly rise to over $77 a barrel, only to fall soon below $70 a barrel and crossing $75 a barrel later in the month. The oil prices have softened again to $72.5 a barrel. With no price increase by OMCs, in the national capital, petrol continues to be sold for Rs 101.84 per litre, while diesel is also being sold at the unchanged price of Rs 89.87 a litre.
Sensex surges 400 points, hits 54,000 for first time
Both Sensex and the Nifty50 traded at record levels. Healthy buying was witnessed in metal, finance and banking stocks. Around 9.45 a.m., Sensex was trading at 54,233.97, higher by 410.61 or 0.76 per cent from its previous close of 53,823.36. It opened at 54,071.22 and has touched an intraday high of 54,274.40 and a low of 54,034.31 points.
Pulse production on the rise in India: Govt
The NFSM-Pulses programme is being implemented in 644 districts of 28 states and Union Territories (UTs) of Jammu & Kashmir and Ladakh to increase the production of pulses, Agriculture and Farmers Welfare Minister Narendra Singh Tomar told the Lok Sabha in a written reply.
Agriculture a bright spot in economy despite Covid-19: Govt data
The percentage share of GVA of agriculture and allied sectors to total economy for the year 2019-20 was 18.4 per cent, while the same for the year 2018-19 was 17.6 per cent, as per the provisional estimates released by the NSO, Union Agriculture Minister Narendra Singh Tomar told the Lok Sabha in a written reply on Tuesday.
CBDT extends due dates for electronic filing of various forms
The Income Tax Department had mandated electronic filing of certain forms under the provisions of the Income Tax Act, 1961, read with Income Tax Rules, 1962 by taxpayers. But with the electronic system still giving trouble and making it difficult to file returns, the extension has been granted till further improvements are made in the system.
Bharti Airtel reports Q1 net profit of Rs 284 crore
The company continues to garner a strong share of the 4G net adds in the market. 4G data customers increased by 33.4 per cent YoY to 184.4 million compared to the previous year. Over the last 4 quarters, the company has added 46 million 4G customers to its network. ARPU continues to be the best in industry, with average data usage per data customer at 18.5 GBs/month, while voice usage was at 1,044 mins per customer per month.
IL&FS realises Rs 33 cr by selling its vehicles, furniture
IL&FS Group had identified a total of 38 luxury vehicles within the group, which had a purchase price value of Rs 25 lakh and above. Out of the identified vehicles, 34 vehicles were sold and 2 others were surrendered to the leasing company. The sale was conducted via public auction and an amount of Rs 7.33 crore was realized, said a company spokesperson.
'Low natural gas prices key to India's 15% fuel share ambition'
If prices of natural gas remain high or increase further, the study projects that its fuel share would rise from the current 6.3 per cent to only 6.4 per cent by 2030, and to 12 per cent by 2050. The findings are significant given the recent rise in global gas prices, although long-term prices have been on the decline, due to the discovery of significant shale gas reserves and lower gas production technology costs for the US shale gas supply.
IOB closes Q1 with Rs 327 crore net profit
For the first quarter of the current fiscal, the IOB had posted a net profit of about Rs 327 crore as against about Rs 121 crore logged during the corresponding quarter the previous year, he told reporters. For the period under review, the IOB had posted a total income of about Rs 5,155 crore, down from about Rs 5,233 crore earned during the same quarter previous fiscal.
Hiring in India 42% above pre-Covid levels: LinkedIn
There was a deep hiring dip in April 2021, corresponding to a second wave of Covid-19 cases in India. Since then, it has been recovering steadily -- compared to the pre-Covid levels in 2019, it was 35 per cent higher at the end of May 2021, and 42 per cent higher at the end of June 2021. This is possibly due to a release of pent-up hiring (which accumulated in 2020 as companies took a more cautious stance towards hiring.
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