Business

11

Jun

By The Press Editor

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Business

Indian Overseas Bank increases non-callable FD interest rates by 10 basis points on these tenures: Details | Personal-finance

New Delhi: Even as the Reserve Bank of India (RBI) has kept the repo rate unchanged at 5.25 per cent amid the West Asia conflict, public sector bank Indian Overseas Bank (IOB) has announced an upward revision in interest rates for its domestic non-callable fixed deposits (FDs). According to the information shared, the decision was finalised during the bank's recent Asset-Liability Committee (ALCO) meeting to align with changing market conditions. The new rates will take effect immediately, from today, June 11, 2026, and will apply to select medium-term tenures, including the popular 444-day period. What is a non-callable fixed deposit?…

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11

Jun

By The Press Editor

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Business

Beyond shopping cart: From AI workshops to summer camps, what’s driving modern consumers to malls | Business

New Delhi: The new mall consumer no longer sees malls as places meant solely for shopping. Increasingly, families are choosing destinations that offer a combination of retail, entertainment, learning and shared experiences, reflecting a broader shift in consumption patterns across urban India. As consumer expectations evolve, experts believe the definition of a successful mall visit is also changing. Parents are actively seeking engaging environments where children can learn new skills, participate in interactive activities and spend quality time away from screens, while adults look for dining, leisure and shopping options within the same destination. This shift is encouraging malls to…

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11

Jun

By The Press Editor

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Business

Jammu-Srinagar Vande Bharat Express train gets one more stoppage: Details | Business

Srinagar: Union Railway Minister Ashwini Vaishnaw on Wednesday announced the introduction of a commercial stoppage for the Jammu-Srinagar Vande Bharat Express train at Anantnag. The Vande Bharat Express, running between Jammu Tawi and Srinagar, currently stops at Shaheed Captain Tushar Mahajan (Udhampur), Shri Mata Vaishno Devi Katra, Reasi, and Banihal railway stations. This premium train will now depart from Banihal and reach Srinagar via Anantnag railway station. The Jammu-Srinagar Vande Bharat Express passes over the world's highest rail bridge, the Chenab Bridge. Decision was taken in a meeting with Chief Minister Omar Abdullah In an effort to strengthen regional connectivity,…

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11

Jun

By The Press Editor

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Business

Sensex, Nifty end lower amid renewed military exchanges between US and Iran, IT stocks drag | Markets

Mumbai: Benchmark indices Sensex and Nifty ended the trading session lower on June 11 as renewed military exchanges between the United States and Iran reignited concerns over the durability of the fragile ceasefire, keeping investor sentiment cautious. Heavy outflow by foreign institutional investors (FIIs) and a spike in US inflation further dented investors' sentiment. The 30-share BSE Sensex fell 150.63 points or 0.20 per cent at 73,832.55. During the day, it hit a high of 74,394.34 and a low of 73,518.75, gyrating 875.59 points. The 50-share NSE Nifty fell 53.35 points or 0.23 per cent to settle at 23,161.60. Broader…

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11

Jun

By The Press Editor

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Business

FMCG stock opens gap up despite weakness in benchmark indices, surges 11% amid heavy volume | Markets

Mumbai: Shares of diversified FMCG company Elitecon International opened with a gap today, even as stock market benchmark indices Sensex and Nifty declined in early deals, tracking weak trends in global equities and rising crude oil prices amid escalating tensions between the US and Iran. While the 30-share BSE Sensex declined 358.54 points to 73,624.64, the 50-share NSE Nifty dropped 117 points to 23,098.30. Despite this weakness, shares of the company started the trading session at Rs 33.06, a gain of 2.32 per cent from the previous close of Rs 32.31 on the BSE. Amid heavy trading volume, the scrip…

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11

Jun

By The Press Editor

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Business

Stock under Rs 50 in focus as company declares board meeting date to discuss raising Rs 1,000 crore | Markets

Mumbai: Shares of Indiabulls Ltd, which is into real estate and financial services, are in focus as the company has announced the date for Extra-ordinary General Meeting (EGM) to get approval from shareholders to raise Rs 1000.07 crore via a preferential issue of convertible warrants. According to the information shared, the meeting is scheduled for July 2, 2026. The company has stated that the board of directors has proposed to issue up to 51,55,00,000 unlisted warrants on a private placement basis. The issue price has been fixed at Rs 19.40 per warrant, including a premium of Rs 117.40. The company…

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11

Jun

By The Press Editor

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Business

Gold continues to drop on MCX, falls by Rs 1.5k per 10 grams, silver too slides | Check city-wise rates | Markets

Mumbai: Rates of precious metals in futures continued to slide amid fresh US strikes on Iran. The gold August 5 contract on the Multi Commodity Exchange (MCX) opened with a fall of Rs 1,499 or 1.01 per cent at Rs 1,46,518 per 10 grams against the previous close of Rs 1,48,017. It fell further to an intraday low of Rs 1,46,444, down Rs 1,573 or 1.06 per cent. However, it saw some buying at lower levels and rose to an intraday high of Rs 1,48,089. Last seen, it was trading at Rs 1,47,650 with a fall of Rs 367 or…

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11

Jun

By The Press Editor

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Business

This speciality chemicals stock in focus on expanding US footprint with wholly-owned subsidiary: Details | Markets

Mumbai: Shares of speciality chemicals Sudarshan Pharma will be in focus today as the company has informed exchanges that it has expanded its global footprint with the incorporation of a wholly-owned subsidiary in the United States. The stock had ended the last volatile trading session flat. It opened with a minor dip at Rs 34.99 but bounced back to touch the intraday high of Rs 35.40, representing a gain of Rs 0.4 or 1.14 from the previous close of Rs 35. However, it faced pressure at those levels and closed the trading session at Rs 35. The market cap of…

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11

Jun

By The Press Editor

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Business

Government removes excise duty on ethanol-blended petrol ranging up to 30%, will your fuel expenses drop? | Business

New Delhi: In a major push to promote clean energy and reduce dependence on imported crude oil, the government has eliminated central excise duties on petrol blended with higher ethanol levels, extending tax support beyond the current E20 standard. As a result, there will be a nil excise duty rate for fuel blended with ethanol at 22 per cent, 25 per cent, 27 per cent, and 30 per cent. According to a notification issued by the Ministry of Finance, Department of Revenue, the government has amended the primary excise notification dated June 2017 to completely waive excise duty on four…

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11

Jun

By The Press Editor

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Business

Market Opening Bell: Sensex slides 367 points, Nifty near 23,100 amid rise in geopolitical tensions | Markets

Mumbai: Sensex, Nifty Today: Indian equity benchmark indices, the Sensex and Nifty, started the trading session on a weak note on June 11, 2206 amid rising geopolitical tensions and a sharp overnight sell-off in global equities. While the 30-share BSE Sensex tumbled 367.19 points or 0.49 per cent to start the session at 73,615.99, the Nifty dropped 110.55 points to open at 23,104.40. In the last trading session, the Sensex closed at 73,983.18 and the Nifty 50 at 23,214.95. Similarly, the broader indices traded in the red in the opening session. While the BSE Midcap Select Index was down by…

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