Business

Hyderabad: Aurobindo Pharma’s board on Monday approved a Rs 800 crore share proposal to buy back up to 54.23 lakh fully paid-up equity shares of the company of face value Rs 1 each at Rs 1,475 a share.The proposed buyback, which is subject to regulatory and statutory approvals, represents up to 0.93% of the total…

The Supreme Court of India on Monday declined to stay proceedings in a plea filed by Vedanta Limited challenging the approval of AdGroup’s resolution plan for the takeover of insolvent Jaiprakash Associates Limited.A Bench led by Chief Justice of India Surya Kant observed that since the appeal is likely to be decided shortly by the…

India is stepping up efforts to secure fertiliser supplies, with plans to import 2.5 million metric tonnes of urea as it works to stabilise availability in the domestic market amid tightening conditions linked to the US-Israeli war with Iran.This comes as ongoing tensions in the Middle East have been disrupting global energy flows and shipping…

Saudi Arabia has raised the price of its main crude grade for Asian buyers to a record high, as the Middle East conflict enters its sixth week and continues to disrupt global energy flows worldwide.The kingdom’s oil giant Saudi Aramco has set the cost of its Arab Light crude for May sales to Asia at…

Why are bond yields rising?Bond yields are climbing due to a combination of rising crude oil prices and a weakening rupee, both of which add to inflationary pressures. India’s 10-year benchmark yield has risen to around 7% from 6.68% a month ago. Crude oil prices have surged to $115–$120 per barrel, and with India importing…

Rupee stood firm on Monday, gaining 33 paise to reach 92.85 against the US dollar in early trade. This follows intervention by the Reserve Bank of India, as the bank stepped in to support the currency. The RBI tightened norms to curb speculative positions and capped banks’ net open positions at $100 million, even as…

Stock market began the week in red as tensions in the Middle East continue to intensify and benchmark indices tumble over 0.2%. While NSE Nifty50 opened below 22,800, BSE Sensex tumbled over 300 points. Around 9:25 am Nifty50 traded at 22,666.90, down 46 points or 0.2%. The 30 share pack Sensex also slipped 197 points…

NEW DELHI: Moody’s Ratings has slashed India’s economic growth estimates for the current fiscal to 6% from 6.8% earlier, saying the ongoing conflict in West Asia will moderate growth momentum and raise inflation risks.In its credit opinion report on India, Moody’s said prolonged disruptions, particularly LPG shipments due to the conflict, would lead to near-term…

Oil prices began the week on a strong note, maintaining above the $100 per barrel mark on Monday, as the ongoing Middle East conflict continues to disrupt energy supply routes and unsettle global markets.In early trade, US benchmark West Texas Intermediate (WTI) climbed 1.86% to $113.62 per barrel. North Sea Brent crude also edged higher,…

What once felt like stepping into a weekend dream: buzzing food courts, lively movie halls, bags in hand after a shopping spree, now feels strangely hollow. Walk in today, and the lights are still on, the escalators still moving… but where is everyone?Welcome to India’s ghost malls, where you will find shops still open, food…