Business

Reliance Industries posts highest-ever Q2 revenue NEW DELHI: Reliance Industries Limited (RIL) reported its highest-ever quarterly consolidated gross revenue in the July-September quarter of FY27, with revenue rising 27.8% year-on-year to Rs 3,62,268 crore. The company’s profit increased 33.8% to Rs 29,550 crore, marking its highest quarterly profit on a recurring basis.The company’s consolidated earnings…

Nasdaq faces $2 trillion wipeout Over $2 trillion in market value is at risk for the tech-heavy Nasdaq 100 this month as investors question whether massive AI investments will pay off quickly enough.The possible loss would even be higher than SpaceX’s entire market value.The index has already fallen more than 5.8% in October as concerns…

Total income rose to Rs 41,966.05 crore, while net revenue, comprising NII and other income, stood at Rs 19,906.99 crore. Operating profit before provisions and contingencies surged 50.87% to Rs 11,430.11 crore from Rs 7,575.95 crore. MUMBAI: Bank of Baroda reported a 35.81% year-on-year increase in standalone net profit to Rs 6,531.54 crore for the…

India’s forex reserves fall $1.27 billion as gold holdings slide NEW DELHI: India’s foreign exchange reserves fell by $1.269 billion to $719.748 billion in the week ended October 23. The decline was primarily driven by a fall in the value of gold holdings, according to the latest data released by the Reserve Bank of India…

Jio Platforms Limited Q2 results Jio O2 results: Jio Platforms reported a 13.7% year-on-year increase in consolidated net profit to Rs 8,389 crore for the September quarter of FY27, while revenue from operations rose 11.4% to Rs 40,475 crore. The company also recorded growth across key operational parameters, with its customer base expanding to 542.4…

Sitharaman credited the government’s policies under Prime Minister Narendra Modi for the progress. NEW DELHI: Finance minister Nirmala Sitharaman on Friday cited the World Bank’s October 2026 Poverty and Equity Brief, saying India had recorded one of the fastest declines in poverty globally.She also credited the government’s policies under Prime Minister Narendra Modi for the…

Earning more, spending more: The budget squeeze facing common man Aamdani atthanni, kharcha rupaiya!It is a familiar refrain, and a financial loop the common man spends a lifetime trying to escape.For India’s middle class, much of working life revolves around one big aspiration: earning enough to afford not just the essentials, but also the little…

Rupee ends the week in green NEW DELHI: Rupee ended Friday’s trading session strong, up 33-paise gain against the US dollar, closing at 94.93. The momentum came as the greenback remained soft and upbeat Dalal Street lent support to the currency. However, elevated crude oil prices and weakness in broader markets restricted its gains.Rupee began…

Global LNG prices may stay elevated through winter Global energy markets continue to face supply disruptions, with higher LNG prices, rising crude transportation costs and narrowing discounts on Russian oil adding to cost pressures. LNG prices have climbed 6% week-on-week to an average of $32 per million British thermal units (mmBtu), while lower gas inventories…

India’s RBI tightens cyber checks on lenders after spate of hacks NEW DELHI: The Reserve Bank of India (RBI) has asked banks to step up their cybersecurity measures and demonstrate compliance with existing rules amid a rise in attacks on financial institutions. According to three people familiar with the matter cited by Reuters, the central…

Trent share price jumps 7% NEW DELHI: Trent shares jumped almost 7% on Friday after the Tata Group’s retail arm reported a strong 25% year-on-year increase in consolidated net profit for the September quarter.The stock climbed 6.73% to Rs 3,059 on the BSE, while its NSE-listed shares gained 6.92% to Rs 3,060. The rally added…

Amazon cloud business accelerates but shares drop on profit miss Amazon shares fell sharply in after-hours trading on Thursday (local time) as heavy artificial intelligence investments and a weaker-than-expected earnings performance overshadowed accelerating growth in its cloud computing business.The e-commerce and technology giant’s shares dropped as much as 7% after it reported third-quarter results that…