Month: August 2024

Gold prices are rising today i.e. on 14th August. According to India Bullion and Jewelers Association (IBJA), on Wednesday, 10 grams of 24 carat gold rose by Rs 13 to Rs 70,457. Yesterday its price was Rs 70,444 per ten grams. However, one kg silver has increased by Rs 38 to Rs 80,740 per kg. Earlier yesterday, silver was at…

The Financial Services Commission (FSC) of Mauritius has responded to the allegations of Hindenburg Research. The FSC said in the statement that Mauritius does not allow the creation of shell companies. Not only this, it should not be labeled as a 'tax haven'. As a regulator created for the non-banking financial services sector and global business in Mauritius, the FSC…

Giving a blow to edtech company Byju's, the Supreme Court on August 14 stayed the NCLAT order allowing the settlement between the firm and BCCI. A bench headed by CJI DY Chandrachud said that the Rs 158 crore paid by Byju's to BCCI will be kept in a separate escrow account. The next hearing in the case is scheduled for…

Wholesale inflation has come down to 2.04% in July. In June, it had increased to 3.36%, which was the highest level of inflation in 16 months. Whereas, wholesale inflation was at 2.61% in May. Wholesale inflation figures for the month of July were released on 14 August. Earlier, retail inflation figures were released on 12 August. Retail inflation has come…

The profit of Mazagon Dock Shipbuilders Limited, a government shipbuilding company, has doubled on a year-on-year (YoY) basis to Rs 696 crore in the first quarter (April-June) of FY 2025. The net profit was Rs 314 crore in the same quarter a year ago. After the result, the company's stock rose by more than 3%. It closed at Rs 4,984.…

Aerospace and defense company Hindustan Aeronautics Limited (HAL)'s profit in the first quarter (April-June) of FY 2025 has increased by 77% year-on-year (YoY) to Rs 1,437 crore. Net profit was Rs 814 crore in the same quarter a year ago. After the result, the company's stock fell by about 0.90% to close at Rs 4,658. HAL's stock has given a…

India's largest electric two-wheeler manufacturer Ola Electric Mobility has suffered a net loss (consolidated net loss) of Rs 347 crore in the first quarter of FY 2024-25. The company had suffered a loss of Rs 267 crore in the same quarter a year ago. The company's loss has increased by 30% on an annual basis. Talking about the consolidated revenue…

There is a big change in the leadership of global coffee chain Starbucks. Brian Niccol will now replace Indian-origin Laxman Narasimhan as the CEO of the company. Nicol is currently leading Chipotle Mexican Grill. He will take over as CEO on September 9. Until then, CFO, Rachel Ruggeri, will serve as interim CEO. Laxman Narasimhan does not work after 6…

Debt-ridden airline SpiceJet has reported a consolidated net profit of Rs 158 crore in the first quarter of FY 2024-25. It has declined by 20% on a year-on-year basis (YoY). In the same quarter a year ago, the company had a profit of Rs 198 crore. Consolidated revenue from SpiceJet's operations stood at Rs 1,708 crore. It has declined by…