Hindustan Petroleum Corporation Ltd (HPCL) shares surged nearly 5% after the company posted a more than threefold increase in December quarter net profit. The profit for Q3 FY25 stood at Rs 2,543.65 crore, up from Rs 712.84 crore year-on-year. The boost came from a significant rise in earnings from downstream fuel retailing, while overall income from operations remained steady.
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Ajay Singh, founder-promoter of SpiceJet, will increase his stake in the airline from 29.1% to 33.5% with a Rs 294 crore investment through Spice Healthcare. The investment, via conversion of warrants into equity shares, is expected to strengthen the airline's financial position and support growth.
Bitcoin declined below $90,000 experiencing its lowest point since November 18. This drop occurred amid a broad crypto market selloff influenced by significant setbacks like the Bybit hack and memecoin scandal. These events have contributed to a bearish sentiment among crypto market participants.
BlueStone Jewellery and Lifestyle, a Bengaluru-based company, has filed for an initial public offering (IPO) to raise ₹1,000 crore ($118 million). The IPO includes a fresh issue of ₹750 crore for working capital and an offer-for-sale component where existing investors like Accel, Saama Capital, and Kalaari Capital will divest shares.
Retail credit growth in India decelerated in Q2FY25, significantly impacting affordable housing and low-cost two-wheeler loans. However, higher-value loans experienced an uptick. Personal loan originations and credit card usage saw growth, while overall credit demand hit a two-year low with mixed delinquency trends.
Prime Minister Narendra Modi made his podcast debut with Nikhil Kamath, co-founder of Zerodha, discussing topics like Modi's life, politics and entrepreneurship, and global governance. So who is Nikhil Kamath and what is his net worth? We take a look:
Adani Group stocks experienced a significant recovery on Tuesday, with Adani Power leading the surge by 19.29%. Other notable increases included Adani Green Energy, Adani Energy Solutions, and Adani Total Gas. Benchmark indices Sensex and Nifty also rebounded, with the BSE Sensex rising by 505.6 points.
Car companies like Tata Motors, Maruti Suzuki, Mahindra & Mahindra, and JSW MG are preparing extensive charging infrastructures to support their electric vehicles. These initiatives include home chargers and robust public networks, with Maruti targeting charging stations in 1,000 cities and Tata expanding collaborations with charge point operators to install over 10,000 public chargers.
Foreign investors have withdrawn Rs 22,194 crore from Indian equities in January amid expectations of a weak earnings season, rising US dollar, and concerns over a potential tariff war. Additionally, factors such as slowing GDP growth, high inflation, and the record low level of the Indian rupee have contributed to this exodus.
Interest rates for various small savings schemes remain unchanged from January 1 to March 31, 2025. Rates include Sukanya Samriddhi Scheme at 8.2%, PPF at 7.1%, and NSC at 7.7%. This is the fourth consecutive quarter without changes, confirmed by the finance ministry, helping maintain stability for investors.
The Indian rupee continued to strengthen for the seventh straight session, closing at 85.67 against the US dollar. Positive domestic equity trends, foreign capital inflows, and lower crude prices contributed to the gain, erasing all 2025 losses. The rupee has appreciated by 154 paise, with support from foreign banks and exporters. The BSE Sensex surged 1.40%, and Nifty advanced 1.32%.