Business

Asian markets were rattled on Friday after Israel launched a military strike on Iran, triggering a sharp selloff in US futures and global equities, while oil prices soared and investors rushed to safe havens like gold and the Swiss franc.Markets reacted sharply after the strike, with fears of a wider conflict rattling investors. US, S&P E-mini futures fell 1.5% and …

Boeing crash jolts stock ahead of Paris show (Photo: AP) The Boeing Dreamliner crash on Thursday rattled investors’ confidence in the company’s recovery narrative. Shares of the aviation major dropped by as much as 8% in pre-market trading before settling at a loss of 4.8% and closing at $203.6. The plunge comes just days before the Paris Air Show, where …

Priti Gupta Technology Reporter Getty Images Jammu and Kashmir is India’s biggest apple producing region “My neighbours thought I’d lost my mind,” says farmer Kakasaheb Sawant. In 2022 he had decided to plant some apple trees, not crazy for a farmer unless, like Mr Sawant, you live in subtropical southern India, where temperatures can hit 43C. He bought 100 saplings, …

NEW DELHI: DCM Shriram on Thursday said its board has approved a definitive agreement to acquire Hindusthan Specialty Chemicals for Rs 375 crore, marking its strategic entry into the advanced materials segment. The buyout of unlisted subsidiary of Hindusthan Urban Infrastructure is subject to regulatory approvals. Source link

NEW DELHI: State-owned Bank of Maharashtra on Thursday reduced interest rate by up to 50 basis points on retail loans, including home, car, education and other loans linked with Repo Linked Lending Rate. Interest rate reduction by the lender is in line with RBI’s rate moderation and new rates are effective from June 10. Source link

NEW DELHI: Procter & Gamble Hygiene and Health Care on Thursday said it is cautiously optimistic on growth as FMCG trends continue to evolve and consumption patterns are still shifting. It said rural demand is showing signs of healthy recovery, while urban India, on the contrary, continues to face financial challenges. Source link

NEW DELHI: Digital payments major PhonePe on Thursday trimmed its holding by selling a 5% stake in CE Info Systems, the parent company of MapmyIndia, for Rs 486 crore through an open market transaction. PhonePe is an arm of Walmart-controlled online retailer Flipkart.Following stake sale, shares of CE Info Systems plunged 9.4% to settle at Rs 1,769 apiece on BSE. …

BENGALURU: Orkla India, formerly known as MTR Foods, filed its draft red herring prospectus (DRHP) with Sebi for an initial public offer (IPO) consisting entirely of an offer for sale of up to 2.2 crore equity shares. There is no fresh issue component in the proposed IPO. Its heritage brand, MTR Foods, spans 100 years of serving authentic Indian cuisine. …

Representative image (Picture credit: ANI) NEW DELHI: Retail inflation plummeted to a 75-month low in May as food prices eased sharply. It is expected to moderate further in June, which may prompt the Reserve Bank of India (RBI) to hit a pause in its rate-cutting cycle after undertaking a “jumbo” cut earlier this month to support growth in the face …

The rupee ended nearly unchanged against the US dollar on Thursday, rising just 1 paisa to settle at 85.52, as weakness in the greenback against major currencies offset pressure from a sharp decline in domestic equities and a rise in crude oil prices.At the interbank foreign exchange market, the rupee opened at 85.43 and moved within a narrow range of …