Business

NEW DELHI: The Supreme Court on Friday cleared Reliance Industries (RIL) of the charge of making an illegal and undue gain of Rs 447 crore in 2007 while trading in Reliance Petroleum (RPL) shares by allegedly manipulating prices and set aside Securities Appellate Tribunal’s order allowing disgorgement of the profit.RIL had earned Rs 5,013 crore,…

MUMBAI: The India heads of AI world’s arch-rivals Anthropic and OpenAI took to the stage at the annual Tech Week here, pitching their suite of products to a room full of developers and founders.“What makes India really important in OpenAI’s journey is the opportunity centred around access, adoption and agency,” said Pragya Misra, OpenAI’s head…

MUMBAI: RBI’s record surplus transfer of nearly Rs 2.9 lakh crore reflects a year in which gains from dollar investments, forex market intervention and robust domestic bond income combined to lift RBI’s total income by 26% to about Rs 4.3 lakh crore in FY26, up from Rs 3.4 lakh crore a year earlier.A large share…

MUMBAI: Reports that India is expected to see its driest monsoon in a decade spooked investors on Dalal Street on Friday. In late trades, sensex fell sharply to close nearly 1,100 points (1.4%) lower at 74,776 points. HDFC Bank, ICICI Bank and Reliance Industries contributed the most to the day’s fall in the index, exchange…

New Delhi: The hike in jet fuel prices will be passed on to both domestic and international consumers as increased airfares, IndiGo said Friday after flying into the red with a loss of Rs 2,537 crore in the fourth quarter of the 2026 fiscal, compared to a profit of Rs 3,067 crore in the same…

Indian equity benchmarks witnessed sharp selling pressure on Friday, with the Sensex plunging more than 1,000 points and investors losing nearly Rs 5 lakh crore in market value, as concerns over a weak monsoon, uncertainty around a US-Iran peace deal and continued foreign investor selling weighed on sentiment. The Sensex closed 1,092 points lower at…

NEW DELHI: Drawing lessons from the disruption in energy supplies because of the West Asia conflict, govt has asked oil marketing companies to work on creating a 30-day strategic reserve of LPG.Petroleum ministry joint secretary Sujata Sharma said the reserve would be over and above the 45-day rolling stock maintained by oil retailers to meet…

NEW DELHI: US ambassador Sergio Gor said Friday no partnership is better placed than India and the US to work together on critical and emerging technologies that are reshaping the global balance of power.Speaking days after secretary of state Marco Rubio’s visit, which was aimed at addressing the rupture in ties although Rubio maintained the…

US stocks opened higher on Friday, extending their record-setting rally as strong earnings and growing optimism around artificial intelligence outweighed concerns about inflation and the economic impact of the conflict involving Iran.The S&P 500 rose 0.4 per cent in morning trade, building on six consecutive gains and putting the benchmark index on track for a…

India’s largest airline IndiGo reported a consolidated net loss of Rs 2,536.9 crore for the March quarter compared with a profit of Rs 3,067.5 crore a year earlier, as sharp rupee depreciation and a challenging operating environment weighed on its performance, PTI reported.The airline’s total income rose more than 3 per cent to Rs 23,830.7…