Brokerage firm Citi has cut down its rating on Indian equities to ‘neutral’ from ‘overweight’, pointing to expensive valuations and weaker earnings growth forecasts.“India remains most expensive market (23 times) vs both its peers and its own average valuation,” the firm said in a note, even as it acknowledged that India’s macroeconomic story is stronger…
India, whilst potentially benefiting from reduced prices, faces uncertainty regarding continued imports due to possible US intervention. (AI image) Russia oil sanctions by European Union: The EU implemented sanctions on Friday which also target a Rosneft-owned Indian oil refinery and reduced the oil price ceiling as part of heightened measures against Russia regarding the Ukraine…
US President Donald Trump has sharply intensified his criticism of Federal Reserve Chair Jerome Powell, accusing him of stalling the US housing market with high interest rates and hinting at possible dismissal over a controversial $2.5 billion renovation at the Fed’s headquarters.In a pair of fiery Truth Social posts on Friday, Trump branded Powell a…
Tata Group on Friday announced the formation of a dedicated Rs 500 crore welfare trust to support victims of the Air India Flight AI-171 crash in Ahmedabad that claimed 260 lives, including 19 on the ground.In an official statement, Tata Sons and Tata Trusts said “The Trust will provide both immediate and continuing support to…
A report of the Comptroller and Auditor General of India has slammed the Maharashtra government for irregular revenue waiver of Rs 71.07 crore given to the Mumbai Pune Expressway toll operator amid the COVID-19 lockdown.The Report of the Comptroller and Auditor General of India on Compliance Audit was tabled in the Maharashtra legislature on Friday.The…
Wall Street edged higher on Friday as the S&P 500 and Nasdaq hovered near record highs, putting US stocks on track for a third winning week in the past four. Strong corporate earnings, easing Treasury yields, and growing speculation of a Federal Reserve rate cut fuelled investor optimism.The S&P 500 rose 0.2% in early trade…
RIL Q1 results FY 2025-26: Mukesh Ambani-led Reliance Industries posted a Profit After Tax (PAT) of Rs 26,994 crore beating Street estimates. The net profit rose 78% from Rs 15,138 crore a year ago.The organisation’s operational income increased by 5.3%, reaching Rs 2,48,660 crore compared to Rs 2,36,217 crore during the corresponding period in the…
BP has announced it will sell its entire onshore wind energy business in the United States to American firm LS Power, marking a major step in its shift away from renewables and back toward oil and gas. The sale includes 10 operational wind assets, though the deal value was not disclosed.“The onshore US wind business…
Reliance Retail Ventures Ltd (RRVL), the retail arm of Reliance Industries, on Friday reported a 28.3% year-on-year rise in its profit after tax at Rs 3,271 crore for the quarter ended June 30, 2025, buoyed by robust performance across segments and continued network expansion.Gross revenue for the first quarter rose 11.3% to Rs 84,171 crore,…
Digital and telecom arm of Reliance Industries, Jio Platforms Ltd, reported a 25% year-on-year (YoY) rise in net profit at Rs 7,110 crore for the quarter ended June 30, 2025. The company’s gross revenue for the first quarter of FY26 climbed 19% YoY to Rs 41,054 crore, according to the consolidated earnings release issued by…
