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Oil prices were headed for a weekly gain on Friday as attacks by Houthis on tankers in the Red Sea raised concerns over a possible shutdown of another key shipping route. At the same time, Kazakhstan temporarily reduced oil output after closing its main export route. Crude oil price on July 24 Brent futures fell…
Mumbai: Godrej Capital is making a decisive push into the gold loan business, aiming to build a Rs 5,000 crore book over the next five years following its acquisition of Kanakadurga Finance’s gold loan portfolio for Rs 135 crore, said managing director and chief executive Manish Shah. The deal, which brings Godrej Capital assets under…
Trading activity in India’s equity markets remained strong in June, with cash market turnover on the NSE rising to a 23-month high of ₹27.7 lakh crore from ₹26.9 lakh crore in May, according to the report. While proprietary traders account for the largest share of cash market turnover, their contribution slipped to a six-month low…
Stocks in Asia fell after a technology-led selloff on Wall Street as investors questioned whether the billions being poured into the artificial intelligence buildout will generate sufficient returns. Oil held its gains. The MSCI Asia Pacific Index declined 0.8% after gauges in Japan, South Korea and Australia slipped. That came after the S&P 500 fell…
ET Intelligence Group: Lohia Corp, a machinery manufacturer for technical textiles, plans to raise ₹1,102 crore through an offer for sale. The promoter group’s stake will fall to 75.2% after the IPO from 95.6%. Over 40% of the revenue comes from overseas. Imported raw materials accounted for about 16% of raw material costs in FY26…
Mumbai: India’s investor map is undergoing a significant shift, with the country’s traditionally dominant western region steadily losing share to the north, as retail participation broadened across states, even where stocks have not been a popular investment avenue. North India, which overtook the West to become the largest contributor to the country’s registered investor base…
Mumbai: Temasek-backed Manipal Health Enterprises is set to launch its billion-dollar initial public offering (IPO) later this month on the heels of SBI Funds Management‘s successful issue mid-July, said people familiar with the matter. The company will announce the price band on July 24, with the issue expected to be open for subscription between July…
ET Intelligence Group: The performance of Infosys in the June quarter was marginally below expectations on both revenue and profit fronts in terms of dollar as well as rupee terms. The company also lowered the upper end of the revenue guidance band for FY26 to 3% growth from the earlier expectation of 3.5% increase citing…
Ace investor Rekha Jhunjhunwala sharply reduced her promoter stake in Star Health and Allied Insurance Company during the June quarter of FY27. Her holding declined to 3.04% from 15.57% in the March quarter, according to the company’s latest shareholding pattern. The reduction implies she sold nearly 7.38 crore shares during the first quarter of FY27….
Brent crude rose more than 6% in late Thursday trading to above $100 a barrel, its highest level in eight weeks. US crude also climbed for a second straight session, rising more than 5% to nearly $92 a barrel, the highest since June 11. The latest jump came after Tehran-backed Houthi rebels claimed attacks on…