MUMBAI: Bank of Maharashtra reported a net profit of Rs 2,023 crore in Q1FY27, up 27% from Rs 1,594 crore in the corresponding quarter a year earlier, driven by higher net interest income and non-interest income as loan growth lifted interest earnings while other income streams strengthened. The increase in net profit was driven by…
MUMBAI: India’s foreign exchange reserves rose by $7.3 billion to $674.2 billion in the week ended July 3, driven largely by an increase in foreign currency assets and a rise in the value of gold holdings. The gain reflects both valuation effects and accretion in underlying assets, with the two dominant components of reserves accounting…
ONGC said the proposed facility, along with related infrastructure, will be developed as the Phase-I expansion of the existing strategic petroleum reserve at Mangaluru. (Reuters photo) As the world faces turmoil with the ongoing Middle East situation, state-run Oil and Natural Gas Corporation (ONGC) on Friday announced that its board has granted in-principle approval for…
Next week marks the start of a busy earnings calendar. (AI image) Wall Street today: US stocks and oil prices were largely flat on Friday, heading toward a subdued end to the week after the sharp swings seen earlier as investors assessed the potential impact of the Iran conflict on global crude supplies.The S&P 500…
MUMBAI: Auto financiers are pushing for innovation in lending, with a shift towards embedded finance and partnerships instead of generic EMI products, even as global markets adopt integrated digital credit at the point of sale.Speaking at the Federation of Automobile Dealers Association (FADA) 5th Finance and Insurance Summit 2026 in Mumbai Rajan Pental, executive director…
MUMBAI: Equity benchmark indices pared more than half of their intraday gains on Thursday after profit booking in the final hours, even as sensex and Nifty had staged a sharp recovery earlier in the session on bottom fishing and positive cues from foreign institutional investors.After a 1,677-point fall on Wednesday, sensex opened higher at 76,576…
India’s imports of Russian crude reached a record high in June. (file PTI photo of Russian oil tanker) Russia is one of the few countries in the world that stands out for being one of the biggest exporters of crude oil and also among the largest refiners. But, four years after Moscow’s war with Ukraine…
Indian Railways has cleared the introduction of a 10-coach Hydrogen Fuel Cell-based trainset. India’s first hydrogen train has been notified by Indian Railways. The new hydrogen-powered train is expected to be flagged off by PM Narendra Modi on July 17. He will also unveil a series of other infrastructure projects across Haryana, state minister Krishan…
Petroleum ministry clarifies ethanol programme amid debate NEW DELHI: Petroleum and natural gas ministry on Friday said that E20 petrol is currently costlier to produce than pure petrol at prevailing global crude oil prices, but maintained that the ethanol blending programme has helped protect Indian consumers from volatile international oil prices while improving the country’s…
The latest capacity expansion also comes at a time when additions to global refining capacity remain limited. (AI image) India’s petroleum product exports could increase by around 25% from the FY25 level of $44.4 billion. India is one of the world’s leading exporters of refined petroleum products. The increase is expected to come over the…
