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27 Jun

Paracetamol fails quality tests, more than 50 drugs in the list

Banasree SarkarlatestParacetamol

Something is wrong with paracetamol. Have you gotten into the habit of taking antibiotics when there is a problem? So be careful. Turn it off now. The quality of at least 50 medicines, including paracetamol, has been questioned. The Central Drugs Standard Control Organization says most of these are substandard drugs. So they issued a warning. About 50 drug samples were tested recently, including paracetamol and several antibiotics. But they 'failed' that test. The country's highest drug regulatory body has said that the quality of these drugs is not good at all. According to sources, notices have been sent to…

26 Jun

Reliance Industries shares jump 4%; Market valuation rose by Rs 80,359.48 crore

Priyanka RoyBusiness, latest

The 30-share BSE Sensex closed at a new closing peak of 78,674.25, up 620.73 points or 0.80 percent.Shares of Reliance Industries surged 4 percent on Wednesday, taking its market valuation above Rs 20 lakh crore and helping benchmark indices close at record highs.The market bellwether stock closed 4.09 percent higher at Rs 3,027.40 on BSE. During the day, it rose 4.41 percent to hit a record high of Rs 3,037. It rose 3.87 percent to Rs 3,021.10 on NSE.The market valuation of the company increased by Rs 80,359.48 crore to Rs 20,48,282.28 crore. Reliance Industries is the most valuable company…

25 Jun

Oil upturn on strong dollar and strong fuel demand; Brent crude at $85.77/bbl

Priyanka RoyBusiness, latest

Oil prices rose slightly on Monday as strong summer fuel demand and rising geopolitical tensions helped offset the impact of a stronger dollar.Brent futures for August delivery rose 53 cents to $85.77 a barrel, representing a gain of 0.6% by 11:38 a.m. EST (1538 GMT). Meanwhile, US crude futures rose 65 cents to $81.38 a barrel, representing a gain of 0.8%. Last week, both benchmarks recorded a 3% rise, their second consecutive weekly rise.“Crude oil prices witnessed significant volatility and declined from recent highs due to dollar index strength and mixed global economic data. The dollar index hit its highest…

24 Jun

India’s CAD downfall to 0.7% of GDP, records surplus of 0.6% in Q4: RBI

Priyanka RoyBusiness, latest

India recorded a current account surplus in the last quarter of the last financial year due to higher service income. Additionally, the Reserve Bank of India (RBI) on Monday said the overall current account deficit for FY2024 has narrowed due to decline in goods trade deficit. India's current account deficit (CAD) declined to 0.7 per cent of GDP or $23.2 billion in FY2024 from 2 per cent of GDP or $67 billion last year. “Sequential decline in CAD in Q4:2022-23 mainly due to narrowing in trade deficit with stronger services trade from US$71.3 billion in Q4:2022-23 to US$52.6 billion in…

22 Jun

Death procession to Makkah, 98 Indian pilgrims died in Hajj

Banasree SarkarlatestSaudi Arabia

98 Indians have died in Saudi Arabia this year on Hajj, and all of them died 'naturally'. The Ministry of Foreign Affairs said so on Friday. It should be noted that the death rate of pilgrims in Saudi Arabia is increasing due to extreme heat and heat waves. So far, a total of 1081 residents of 10 countries have died while performing Hajj. Meanwhile, India said that 98 Indians died 'naturally' while performing Hajj. "Many Indians go for Hajj every year," the Ministry of External Affairs said in a statement. This year, 1 lakh 75 thousand Indians went to Saudi…

22 Jun

Manufacturing PMI grew up to 60.9 in June, job creation fastest in 18 years: Survey

Priyanka RoyBusiness, latest

According to the HSBC survey, the final manufacturing, services and composite purchasing managers' index (PMI) figure rose 0.4 percentage points to 60.9 in June, compared with a revised figure of 60.5 in May.According to a survey, business activity in the country became stronger in June due to growth in manufacturing and services sectors and the pace of job creation became the fastest in 18 years.“The composite output index expansion further in June, supported by an grow in new orders, which led companies to rise hiring in both sectors. Input prices softened slightly in June, resulting in margin improvement, especially for…

21 Jun

Vodafone Idea shares expansion more than 4%, up 26% in a month; What’s driving the rally here

Priyanka RoyBusiness, latest

Shares of Vodafone Idea rose 3.51 percent after the telecom service provider reported it met its 5G rollout obligations across all circles. The company has 5G spectrum in 17 circles and has met the rollout needs for both spectrum bands.According to CNBC Awaaz, Vodafone Idea has completed network testing in both spectrum bands conducted by the Department of Telecommunications and has fulfilled its rollout obligations, incurring a fine of around ₹1 crore.In particular, it is mandatory to meet rollout obligations as per the license terms. Failure to complete the rollout on time could have resulted in action against the company,…

20 Jun

SBI to raise ₹20,000 crore through long-term bonds in FY2025

Priyanka RoyBusiness, latest

State Bank of India (SBI) announced board approval to raise up to ₹20,000 crore through long-term bonds in FY 2024-25. The central board meeting on June 19, 2024, approved raising funds through public issue or private placement.At the time of writing, SBI shares are trading at ₹846.65 which is 0.70% lower than its previous close. The stock has seen a total rise of 49% in the past year and 32% since the beginning of the year.In January, SBI raised ₹5,000 crore through perpetual bonds at a coupon rate of 8.34%. In the last financial year, SBI had issued 15-year infrastructure…

20 Jun

4 people were killed in the earthquake in the northeast of Iran

Banasree SarkarlatestIran

Four people were killed in the earthquake in northeastern Iran. Besides, hundreds more people were injured. This was reported by the news agency AFP. It is said that the earthquake struck at noon local time on Tuesday. The magnitude of the earthquake was recorded at 4.9 on the Richter scale. The governor of Kashmar, Hazatullah Shariatmadari, reported the number of casualties in the earthquake and told national television that 35 of the injured have been admitted to the hospital. The governor said that most of the weak buildings in the city were damaged by the earthquake. According to the US…

19 Jun

Direct tax collections upturn 21% to Rs 4.62 lakh crore from higher corporate advance tax

Priyanka RoyBusiness, latest

The first installment of advance tax, which was due on June 15, saw accumulation inflation 27.34% to Rs 1.48 lakh crore. This includes Corporation Income Tax (CIT) of Rs 1.14 lakh crore and Personal Income Tax of Rs 34,470 crore.Net direct tax collections have jumped by 21 percent to over Rs 4.62 lakh crore so far this financial year due to higher advance tax payments by corporates.The first installment of advance tax, which was due on June 15, saw collections inflation 27.34% to Rs 1.48 lakh crore. This includes Corporation Income Tax (CIT) of Rs 1.14 lakh crore and Personal…