Saturday, September 12
Indian exporters are scrambling for options to mitigate the fallout of US President Donald Trump's threatened tariff salvo against the world's most populous nation.Many warn of dire job losses after Trump said he would double new import tariffs from 25 percent to 50 percent if India continues to buy Russian oil, in a bid to strip Moscow of revenue for its military offensive in Ukraine."At 50 percent tariff, no product from India can stand any competitive edge," said economist Garima Kapoor from Elara Securities.India, one of the world's largest crude oil importers, has until August 27 to find alternatives to replace around a third of its current oil supply from abroad.While New Delhi is not an export powerhouse, it shipped goods worth about $87 billion to the United States in 2024.That 50
Indian Railway Catering and Tourism Corporation (IRCTC) on Tuesday reported a 8% year-on-year (YoY) rise in its consolidated net profit for the quarter ended June 30, 2025, at Rs 331 crore, compared to Rs 308 crore in the same quarter last year. Sequentially, net profit was down from Rs 358 crore in the March 2025 quarter.Revenue from operations for the quarter stood at Rs 1,160 crore, up 3% from Rs 1,117 crore in the corresponding quarter last year, but lower than Rs 1,268.53 crore in the March 2025 quarter. The growth was supported by higher contributions from the catering and internet ticketing segments.Segment-wise, catering revenue came in at Rs 546.78 crore versus Rs 558.89 crore a year ago, while internet ticketing revenue rose to Rs 358.75 crore from Rs 329.07 crore.The Rail Neer p
Indian gold loan financier Muthoot Finance reported a bigger-than-expected 90% surge in first-quarter profit on Wednesday, aided by higher loan demand as prices of the precious metal soared. Muthoot Finance reported a standalone profit of Rs 2,046 crore ($233.91 million) for the April-June quarter, above analysts' estimate of Rs 1,624 crore, per data compiled by LSEG. Gold prices hit multiple record highs during the quarter. This benefits gold financiers as higher prices increase the collateral value, allowing borrowers to secure larger loans for the same amount of gold. Additionally, tighter lending in the unsecured segment prompted people to shift to gold loans as an alternative source of funds, analysts said. Muthoot Finance's standalone loan assets under management rose 42% year-on-ye
