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Indian Oil Q4 profit rises 40% to Rs5,218 crore

State-run Indian Oil Corp. Ltd (IOC) on Tuesday said its fiscal fourth-quarter profit surged 40% to Rs5,218 crore, driven by higher refinery margins and inventory gains. IOC had reported a profit of Rs3,721 crore in the corresponding year-ago period. Chairman…

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Gold halts slide on jewellers' buying, global cues

Gold prices inched up by Rs 5 to Rs 31,880 per 10 grams at the bullion market today, halting its two-day slide on buying by local jewellers amid a firm trend overseas. Silver also reclaimed the Rs 41,000-mark by surging…

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Dr Reddy's Labs Q4 net falls 3% to Rs 302 cr

Drug firm Dr Reddy’s Laboratories today reported a 3.29 per cent fall in its consolidated net profit to Rs 302.2 crore for the fourth quarter ended March 31, 2018, mainly on account of continuing headwinds in the US. The company…

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India's steel output grows 4% to 8.59 MT in April

India’s crude steel production grew 4.4 per cent to 8.59 million tonne (MT) during April 2018, according to official data. The country had produced 8.22 MT during the same month a year ago, the Joint Plant Committee (JPC) said in…

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Tax department sends notices to GST non-filers

After months of large scale non-compliance in filing of the summary return (GSTR-3B) by taxpayers under Goods and Services Tax (GST), the tax department has started sending reminder notices to such assessees. Some of the notices issued for the first…

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Spot power rates hit record high on coal supply woes

Spot prices of electricity reached a new high with power being traded at Rs 11.4/unit for a 15-minute slot for Tuesday, as generation plants across the country grapple with severe coal shortage amid rising demand. Independent power producers could offer…

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Emirates NBD to Buy Sberbank?s Turkey Unit for $3.2bn

Dubai?s biggest bank agreed to buy a Sberbank PJSC unit in Turkey?s biggest takeover deal since 2012. Emirates NBD PJSC shares climbed in Dubai. Emirates NBD will buy 99.9 percent of Denizbank AS for 14.6 billion lira ($3.2 billion) and…

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