Business
Rapido valued at $3 billion with fresh $240 million funding
Investment part of broader $730 million round; valuation up 30% since last secondary transaction.
Business
Govt imposes Rs 3/litre windfall tax on petrol exports, cuts diesel and ATF export levies
The government has imposed a Rs 3 per litre windfall tax on petrol exports while reducing levies on diesel and aviation fuel. These revised rates, effective May 16, aim to ensure domestic fuel availability and prevent excessive profits from elevated global crude oil prices amid the West Asia conflict.
Business
PM Modi’s UAE visit: How India will benefit from agreements on strategic petroleum reserves, LPG – explained
Experts have hailed the MOUs, calling them game-changing for India’s energy security in the long-term. The importance of having strategic petroleum reserves has been brought to light with stark clarity due to the US-Iran war.
Business
Tata Steel Q4 results: Profit more than doubles to Rs 2,965 crore; India operations drive growth despite global headwinds
Tata Steel reported a more than two-fold jump in consolidated net profit to Rs 2,965 crore for the January-March quarter of FY26, driven by strong India operations and improved volumes. For the full fiscal year, net profit surged over three times to Rs 10,885.82 crore, with steel production and deliveries also seeing an increase.
