COST Financial News

Hindustan Petroleum Corp Ltd (HPCL) posted a combined net profit of ₹69,000 crore in the current financial year till the October-December quarter (Q3FY24). The OMCs have recouped losses registered in 2022 over frozen retail prices of petrol, diesel rates after international crude oil prices soared to a 14-year mark with Brent hitting $140 per barrel in March 2022 due to the Russia-Ukraine war-led spike.

(Updated — March 15, 2024 11:35 AM EDT)

finance ministry on Friday notified the lower 15 per cent duty rate on the import of electronic vehicles (EV) of a minimum value of USD 35,000, subject to certain conditions, announced under the EV policy. Currently, EV imports attract 100 per cent Customs duty. Earlier in the day, the Heavy Industries Ministry had notified a 'Scheme to promote manufacturing of electric passenger cars in India', under which import duty concessions would be given to companies setting up manufacturing units with a minimum investment of USD 500 million. Following that, the finance ministry notified that EVs of a minimum value of USD 35000 can be imported at 15 per cent duty up to year 2031 by companies that set up manufacturing facilities under the scheme.

Cocoa prices have climbed past a record set nearly a half-century ago, costing chocolate makers, bakers and aficionados alike. The sharp climb in price for chocolate’s main ingredient started with bad weather in West Africa, where much of the world’s cocoa is grown. Speculators piling into one of the hottest trades outside of artificial intelligence have added fuel to the rally.

₹45.6 crore in FY23 from ₹248.6 crore in FY22. Its losses reduced to ₹385 crore from ₹513 crore during the same period, according to company filings with the Registrar of Companies (RoC). The company’s diminished scale is attributable to the challenges being faced by the industry.

risen considerably against Indian rupee in the past few weeks, Indian students travelling to the UK for overseas education later this year stare at a tougher (er.. expensive) times ahead. With pound going upward from ₹100 per unit to ₹105 per unit in the recent past, the cost of foreign education of UK-bound students has undoubtedly seen a considerable jump.

«This maturity wall is massive, we have not seen anything like it before. Granted, it is quite sizable and there is a lot of refinancing that needs to happen,» he told delegates at the firm's International Media Summit on Thursday (14 March) attended by Investment Week. During the pandemic, companies took advantage of low interest rates to secure favourable funding for an extended period. This resulted in longer maturity profiles and limited new issuance, raising concerns about the credit markets' ability to handle costly refinancing. Deep Dive: 'No clear maturity wall' as companies n...

Ministry of Defence (MoD) on Friday greenlighted the upgrade of 25 Dornier aircraft. The Ministry of Defence on Friday signed a contract with Hindustan Aeronautics Limited (HAL) on March 15, for Mid Life Upgrade (MLU) of 25 Dornier Aircraft along with associated equipment for the Indian Navy at a cost of Rs 2,890 crore. The MLU for Dornier Aircraft includes an upgrade to incorporate state-of-the-art avionics systems and primary role sensors, the Defence Ministry said.

Frequently Asked Questions (FAQs) Initiate contact with your insurance company to initiate the personal loan insurance claim process. While the specifics may differ, the following are typical steps: If your claim is approved, your insurer will provide the benefits outlined in your policy. This might involve clearing your personal loan balance, issuing a lump sum payment, or offering ongoing income assistance.

Zee Entertainment Enterprises Ltd on Friday said its president and group chief technology officer Nitin Mittal has quit the company after a three-year stint. This announcement comes amid strategic changes in the technology and data vertical, implemented by managing director and CEO Punit Goenka.

₹130, marking a significant 57 percent premium over the issue price of ₹83 on the BSE SME platform. The IPO of Pune E-Stock Broking attracted considerable investor attention, demonstrating a subscription rate exceeding 300 times by the conclusion of the subscription period. Also read: Pune E-Stock Broking IPO allotment finalised today; latest GMP, 4 steps to check status Pune E-Stock Broking stock closed 3.18 percent higher at ₹133.18 per share on BSE on its debut day.

Wholesale prices in the United States accelerated again in February, the latest sign that inflation pressures in the economy remain elevated and might not cool in the coming months as fast as the Federal Reserve or the Biden administration would like

Home loan borrowing costs fell for the second week in a row, pulling the average long-term U.S. mortgage rate to its lowest level since early February — good news for prospective home shoppers as the spring homebuying season gets underway

American shoppers picked up their spending a bit in February after pulling back the previous month

Going into this election year, the United States is slogging through a housing affordability crisis

Trinamool Congress (TMC) has filed a complaint with the Election Commission, objecting to the BJP-led Centre's advertisements boasting about funding allocation to the West Bengal government for different central schemes, which have been a focal point of the BJP's campaign efforts. In a letter to the Chief Electoral Officer (CEO) of West Bengal on Thursday, the TMC pointed out that the central government had inserted advertisements in some papers at the cost of public exchequer saying how much money had been given to the state and also cited certain points pertaining to central schemes like PMAY, MGNREGA and some others. The advertisement said the Centre had released Rs 5.36 lakh crore to West Bengal in the last five years and also committed to the development of the state, while also mentioning «non-adherence» of the state government to follow guidelines which are meant to reduce corruption and ensure benefits reach the right beneficiaries. The letter also pointed out to a campaign launched by the TMC which highlighted non-release of funds by the Centre under various central schemes and thus depriving West Bengal of its rightful dues only because it does not have a BJP-ruled government in the state.

Sandeep Tandon, CIO, Quant MF, says “if we start looking at risk-adjusted returns, it will be far better. Just looking at PE in isolation without looking at ROC or ROE does not make sense. Similarly, just looking at a few risk measures in isolation does not make sense and that is the reason in our disclosure we have added additional data points also which are risk-adjusted measures and more meaningful rather than just looking at unidirectional risk numbers.” Tandon further says Quant takes concentrated bets because he believes that extraordinary diversification from a mathematical perspective means there is no control on risk. First, let us talk about the stress test. What has been the conclusion at Quant and what has been your finding? Sandeep Tandon: Let me explain the larger thesis. What the regulator wants from us is that we should disclose our liquidity position, our risk-related data points, our concentration in the large, mid, or even concentration from a client perspective. I think it is a good exercise from a larger perspective, more from a transparency point of view.

₹22,000 per tonne to ₹26,500 per tonne over the past three months. This is attributed to the government's push on ethanol production to achieve the E20 target by 2025-26, amid declining sugar production. Consequently, chicken prices rose from ₹100-110 a month ago to ₹106-130 per kg across key farm gates in tier-1 cities, including Delhi, Bengaluru and Kolkata, according to spot traders.

A panel headed by former president Ram Nath Kovind has submitted an over-18,000-page report on simultaneous national and state elections to President Droupadi Murmu. It is, in brief, an endorsement of the idea and lays down how it may be implemented.

₹2 per litre each, effective from 6 am today (March 15). This is the first time since May 2022 that petrol and diesel prices have been reduced in the country and come days ahead of the 2024 Lok Sabha Elections.

Indian stock market can utilise several income tax planning strategies to increase their returns. Long-Term Capital Gains (LTCG) TaxIn India, long-term capital gains tax applies to gains from the sale of listed equity shares and equity-oriented mutual funds held for more than one year. Mumbai-based tax and investment expert Balwant Jain suggested holding equity investments for at least one year to benefit from the favourable LTCG tax rate of 10%.