Economy - The Purbottar

01 May

Indian Oil’s quarterly profit Downfall 52% due to inventory losses, low fuel prices

Priyanka Roy0 CommentsBusiness, Economy, India

Indian Oil Corporation (IOC) on Tuesday reported a 52 percent decline in fourth quarter profit as the company sold fuel below market prices due to inventory losses. While India is the world's third-largest oil importer and consumer, Indian Oil controls about a third of India's five million barrel-per-day refining capacity with its unit Chennai Petroleum. However, India has been buying increasingly cheaper Russian oil as discounts have fallen from $30 a barrel in 2022 to less than $10 this year, while refiners also cut fuel prices at the pumps ahead of this year's general elections. IOC reported a 52% decline…

30 Apr

UltraTech Cement Q4 net profit gain 35% to Rs 2,260 Crore

Priyanka Roy0 CommentsBusiness, Economy

UltraTech Cement Ltd on Monday reported 35.24% rise in consolidated net profit at Rs 2,258.58 Crore for the fourth quarter (Q 4) ended March 31, 2024. The foremost cement maker had posted a consolidated net profit of Rs 1,670.10 Crore in the January to March quarter. In the last financial year, according to a regulatory filing by UltraTech. Its revenue from operations increased by 9.41% to Rs 20,418.94 Crore during the period under review. It was Rs 18,662.38 Crore in the same period a year back. UltraTech's total expenses in the March quarter increased by 6.67% to Rs 17,381.09 Crore. The…

28 Mar

Disturbed areas of Nagaland issued AFSPA

editor0 CommentsEconomy

The Armed Forces (Special Powers) Act, 1958 (AFSPA) has been extended in eight districts and five Police stations as disturbed areas of Nagaland. According to the sources, the Ministry of Home Affairs has announced through a notification that the force will be continued for six months or more. Details about the extended AFSPA districts are Dimapur, Niuland, Chumoukedima, Mon, Kiphire, Noklak, Phek, and Peren in Nagaland. Police stations included as disturbed areas are Khuzama, Kohima North, Kohima South, Zubza, and Kezocha in Kohima district; Mangkolemba, Mokokchung-I, Longtho, Tuli, Longchem, and Anaki 'C' in Mokokchung district; Yanglok in Longleng district; Bhandari,…

29 Feb

Concerns about Russian crude oil

editor0 CommentsEconomy, India, International

India is shocked by America's new sanctions on Russia. According to sources, as a result, oil import from Moscow to this country may suffer. Because there is doubt about getting a ship to carry it. This may increase the cost of transportation. Russian companies can also reduce the price discount. All in all, the advantage that India was getting to buy oil at a low price, there is a fear of disappearing. On top of that, crude oil prices are rising again in the world market. A barrel crossed 82 dollars. In February 2022, the month following the start of…

16 May

PM Modi distributes 71,000 appointment letters to new recruits

Business Correspondent0 CommentsBusiness, Economy

Prime Minister Narendra Modi directed Rozgar Mela conference which was conducted at 45 locations in India today With the help of video conferencing Modi distributed 71,000 appointment letters to newly inducted recruits in various govt. departments through video conferencing. The prime minister said that the Rozgar Mela will boost the employment level in a country and further it will create opportunities for youth to achieve something greater in their life. "Earlier it was difficult to apply for a government job, one had to stand in line for hours to get the form. Today the whole process from applying to results…

11 May

Smriti Irani launches “Poshan Bhi Padhai Bhi” campaign

Business Correspondent0 CommentsEconomy, Education

Smriti Irani (Minister of Women and Child Development) has launched a new scheme 'Poshan Bhi, Padhai Bhi' to lay focus on the development of Child and to strengthen Early Childhood Care and Education (ECCE). According to a statement from the Ministry, “The main objective of the event is to highlight the criticality of focusing on early childhood care and education. The Ministry of Women and Child Development is launching “Poshan Bhi Padhai Bhi, a pathbreaking ECCE program to ensure that India has the world’s largest, universal, high-quality preschool network, as suggested by the National Education Policy."

08 May

Before filling the tank check the new rate of petrol-diesel

editor0 CommentsEconomy, India

The prices of petrol and diesel are broadcast by the oil companies every day at 6 am. In New Delhi, one liter of petrol is available for Rs 96.72 and diesel for Rs 89.62. On Monday, the government oil companies released the prices of petrol and diesel, which remain stable. Prices remain unchanged in Mumbai, Delhi, Kolkata and Chennai. The last time there was a change in prices was in May 2022. Crude oil prices remain around $75 per barrel, with Brent crude at $ 75.26 and WTI crude at $ 71.33. Petrol and diesel prices in Kolkata, Delhi, Mumbai…

05 May

CEO Tim Cook said Apple iPhone sales increased significantly

editor0 CommentsBusiness, Economy, India

Releasing the results of the quarter on April 1, Apple has achieved better growth in its revenue than expected. The shares of the company have also increased by 2 percent. The company told that the sale of the iPhone has increased to Rs 419100 crore. American tech giant Apple on Thursday gave information about revenue and profit for the April 1 quarter. The company said that these figures have come better than expected. According to the market value, the share prices of Apple, America's largest company, have increased by 2 percent. The gross profit margin will be better Apple officials…

27 Apr

Indefinite Shutdown Called In Shirdi From May 1 Over CISF Security Deployment in

Business Correspondent0 CommentsEconomy, India

Shirdi, a major pilgrimage site in Maharashtra also known as the home of revered spiritual leader Sai Baba, will remain shut from 1st of May over CISF deployment at the Sai Baba temple, there is no fix date of it's opening until the matter is resolved. The shutdown of the temple has been decided by the administration of the respective temple. There has been protest against the government decision of deploying CISF to maintain the security of the temple. As per the reports of DNA, the temple authority claims that the CISF are not trained for the security of the…

25 Apr

PM Modi to flag off India’s first Water Metro in Kochi

Business Correspondent0 CommentsBusiness, Economy

PM Modi on a 2 day visit to Kerala, inaugurated India's first ever Water Metro on Tuesday (25th of April,2023) which will bring connectivity between 10 islands. This innovation will reduce traffic jam and will run on battery means it doesn't require fuel. The development will help in boosting the tourism industry in the state. Hence, will result into a good economic growth. The minimum cost to avail the facility of water metro will be rupees 20.