Business

The government has announced an extra four percent sale in LIC’s offering, responding to considerable interest revealed by a 3.3 times subscription on day one. This strong demand from institutional buyers led to the exercise of the green shoe option, anticipating a total raise of roughly Rs 31,400 crore from this share sale. Retail investors

In a groundbreaking announcement, the World Gold Council has introduced an extensive twenty-one-year roadmap for India’s gold industry. This plan focuses on ramping up local mining efforts while establishing India as a premier jewelry hub. It also envisions increased integration of gold in high-tech sectors and financial systems, encouraging households to leverage their gold assets,

Bharti Airtel reported a significant profit increase of 37.3% in the first quarter. This growth was fueled by higher mobile tariffs and strong customer additions across businesses. Revenue also saw a substantial rise of 18.4% during the same period. The company’s average revenue per user increased to Rs 264 from Rs 250 a year ago.

ONGC’s profit more than doubled in the April-June quarter. Higher crude oil prices and improved realisations significantly boosted earnings. Total income rose substantially compared to the previous year. Oil and gas production remained broadly stable with marginal declines. Strategic projects are expected to improve future production levels.

The Enforcement Directorate is investigating 32 bank fraud cases with 54 absconding accused. Proceedings under the Fugitive Economic Offenders Act have been launched against 27 individuals. Assets worth over Rs 840 crore have been confiscated after nine were declared offenders. Unclaimed bank deposits transferred to the RBI fund total Rs 62,683.19 crore. India’s foreign exchange

Despite persistent concerns over elevated inflation, the Iran conflict and the possibility of an AI-driven stock market bubble, Wall Street has continued to scale new highs, supported by robust corporate earnings.

Merchant Discount Rate (MDR) is the fee merchants pay to banks and payment service providers for processing digital transactions. In India, credit card payments generally attract an MDR of around 1.5%.

The Ministry of Petroleum has rolled out enhanced fuel quality measures, implementing water ingress testing that occurs multiple times a day at various fuel stations. In a comprehensive assessment, more than two thousand samples were analyzed for contaminants, revealing minimal problems. Sales were promptly halted at locations with verified contamination. The Ministry warns that stringent

Institutional investors subscribed nearly two-thirds of LIC shares offered by noon Tuesday. The government aims to divest up to 6.5% of its stake through this offer. This stake sale is expected to raise approximately Rs 31,000 crore for the government. The transaction also helps LIC meet Sebi’s minimum public shareholding requirements. This follows the government’s