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…
India’s foreign exchange reserves fell by $3.064 billion to $696.672 billion in the week ended July 11, according to the latest data released by the Reserve Bank of India on Friday. This marks a second consecutive weekly decline, following a $3.049 billion drop in the previous week when reserves stood at $699.736 billion, PTI reported….
JSW Steel on Friday reported a more than two-fold rise in its consolidated net profit at Rs 2,209 crore for the April–June quarter, driven by lower expenses and higher volumes. The company had posted a net profit of Rs 867 crore in the corresponding quarter of FY25, it said in a regulatory filing.Total income rose…
Consumers will soon be able to verify star rating claims on electronic appliances such as air-conditioners, refrigerators, televisions, and washing machines, as they will carry detailed energy efficiency labels aimed to help people make informed choices.According to people familiar with the development,the updated labels are a part of the upcoming ‘Bureau of Energy Efficiency (Appliance…
State-owned Indian Overseas Bank (IOB) on Friday reported a 76% year-on-year (YoY) rise in net profit to Rs 1,111 crore for the quarter ended June 2025, aided by improved income and asset quality.The Chennai-headquartered bank had posted a net profit of Rs 633 crore in the same quarter last fiscal, it said in a regulatory…
Taiwanese semiconductor giant TSMC is accelerating its US expansion, stepping up the construction of its second and third chip fabrication plants in Arizona as part of plans to build a massive “gigafab” cluster in the state, as per a report by Focus Taiwan.Taiwan Semiconductor Manufacturing Co. (TSMC) is advancing its strategy to meet increasing global…
MUMBAI: State Bank of India’s Rs 25,000 crore qualified institutional placement (QIP) has been oversubscribed by over three times, with investment bankers expecting bids to touch Rs 1 lakh crore.The Life Insurance Corporation of India and domestic mutual funds such as HDFC Life and ICICI Prudential Life were among the top investors who bid for…
The US commerce department on Thursday announced that it will be imposing a 93.5% anti dumping duty on anode-grade graphite imported from China. The move comes after revelations that the material, which is a major component used in manufacuring electric vehicle batteries, is sold in the US at prices less than fair market value. According…
Asian markets traded mostly higher on Friday, tracking Wall Street’s surge to fresh record highs after upbeat economic indicators and a mixed bag of quarterly earnings from major US companies.Hong Kong’s Hang Seng index advanced 0.58% to 24,640, and the Shanghai Composite edged up 0.17% to 3,522.74. Taiwan’s benchmark index soared 1.09% lifted by TSMC’s…
US solar manufacturers said they have filed new trade petitions against India, Indonesia and Laos alleging illegal practices by largely Chinese-owned companies operating in those countries.The new anti-dumping and countervailing duty petitions were filed by the Alliance for American Solar Manufacturing and Trade, which includes First Solar, Mission Solar Energy and Qcells. The trade group…