Rs 17,000 cr – What state elections cost IOC, HPCL & BPCL

The three main state-owned oil refining and marketing companies have so far lost $2.25 bn (Rs 17,000 cr) due to the freeze on petrol and diesel price imposed by the government ahead of state elections in Uttar Pradesh, Punjab and Goa, according to a report by Moody’s. The rating agency pointed out that Indians are […]

FII selling in Indian stock markets will stop this month – analysts

The relentless selling of stocks by foreign institutional investors or FIIs is likely to ‘taper off’ by the end of the current month, according to an analysis of FII fund flows into India by Maximus Securities Research. “The FII selling is expected to taper off by end of March’22, After which we expect normal market […]

ICICI Bank closes in on credit card leader HDFC Bank

ICICI Bank is emerging as a strong challenger for long-time leader HDFC Bank in India’s credit card market, thanks to strong take-up for its co-branded card with Amazon, according to an analysis of RBI’s January numbers. ICICI Bank accounted for 2.41 lakh of the 13 lakh new credit cards added in January 2022. With this, […]

Auto Sales February: Tata Motors on for another record, Maruti Suzuki to again decline

Tata Motors, India’s second biggest automaker, is on track to set another monthly record in terms of passenger auto sales in February, even as market leader Maruti Suzuki will continue to see a year-on-year decline, according to Emkay Research. The third major listed automaker, Mahindra & Mahindra is also scheduled to report a strong February […]

AirAsia India allows passengers to switch flights at airport

AirAsia has launched its ‘FlyAhead’ service in India, allowing passengers to switch to an earlier flight by paying Rs 500-1,500 at the airport counter. “Guests who reach the airport six hours or more prior to their scheduled flight departure, can opt for the FlyAhead service at the AirAsia Airport Counter. Change fees, which are typically […]

Cryptocurrencies threaten India’s financial stability, invest at own risk – RBI governor

Reserve Bank of India governor Shaktikanta Das today warned investors to exercise caution when investing in crypto-currencies. “I have made our position very clear on this. Private crypto currency or whatever you call it, is a very big threat to our macro-economic and financial stability. “RBI’s position is that private crypto-currencies will interfere with RBI’s […]

Godrej Properties says evaluating investment in DB Realty

Godrej Properties, one of India’s fastest growing and most profitable real estate companies, said it has got the approval of its board of directors to explore the possibility of acquiring a stake in rival and listed real estate developer DB Realty. “..the Board of Directors of the Company has at its meeting held today, i.e. […]

January Auto Sales: Maruti Suzuki declines again, but less this time

Maruti Suzuki reported better numbers as part of its January Auto Sales performance compared to recent months, with India sales declining only 7% compared to the same month of last year. This is comparatively better than its performance in recent months. In November, for example, its domestic passenger vehicle sales fell by a whopping 19% […]

Airtel acquires 25% in Bangalore-based enterprise networking company

Bharti Airtel said it will acquire 25% in a Bengaluru based networking software company for an undisclosed amount. Lavelle Networks helps large corporations and organizations create their own virtual networks spread over several physical networks. “Software-defined Wide Area Network is the necessary arsenal for enterprises to transform and future-proof their network infrastructure in this digital […]

BEL to supply IoT devices worth Rs 550 cr to US consultant

Bharat Electronics Ltd, the government of India managed defence electronics manufacturer, said it has entered into a $73 million co-development and manufacturing deal with a US network consultant to manufacture and supply internet-of-things or IoT devices. The companies did not disclose the exact nature of the devices, but said the contract opens the door to […]