Business

JSW Steel, the country's second-largest steel producer, on Friday, July 18 reported a consolidated net profit of ₹2,184 crore in the first quarter of the current financial year, up 158% from ₹845 crore in the same period last year. This sharp jump in profits was driven by good capital expenditure by the government in the June quarter and strong domestic steel demand. JSW Steel's operating revenue grew 0.5% to ₹43,147 crore in the June quarter as against ₹42,943 crore in the same period a year ago. The Mumbai-based company reported strong operating performance as its earnings before interest, tax, depreciation and amortization (EBITDA), also known as operating profit, grew 38% to Rs 7,576 crore from Rs 5,510 crore. Its operating profit margin expanded 470 basis points (bps) to 17.56%...

New Delhi, Zinc prices rose by 5 paise to Rs 256.55 per kg in futures trade on Thursday amid strong spot demand. At the Multi Commodity Exchange, the price of zinc contract for August delivery rose 5 paise or 0.02 percent to Rs 256.55 per kg in a business turnover of 1,531 lots. Zinc prices rose in futures trade as participants increased the size of their deals following a rise in demand from consumer industries, market sources said.

New Delhi, Crude oil prices rose by Rs 9 to Rs 5,653 per barrel in futures trade on Wednesday as traders increased the size of their deals following strong spot demand. At the Multi Commodity Exchange, the price of crude oil contract for August delivery rose by Rs 9 or 0.16 percent to Rs 5,653 per barrel in a business of 9,125 lots. Analysts said crude oil prices rose in futures trade as participants increased their deals. Globally, West Texas Intermediate crude was trading 0.50 percent higher at $66.85 per barrel in New York, while Brent crude rose 0.28 percent to $68.90 per barrel.

New Delhi, Silver prices on Tuesday fell by Rs 256 to Rs 1,12,680 per kg as participants reduced their deals. At the Multi Commodity Exchange, the price of silver contracts for September delivery fell by Rs 256, or 0.23 percent, to Rs 1,12,680 per kg in a business turnover of 21,003 lots. Analysts said selling by participants at current levels in the market mainly influenced silver prices. Globally, silver was trading 0.53 percent higher at $38.33 an ounce in New York.

New Delhi, Aluminium prices rose by 65 paise to Rs 249.95 per kg in futures trade on Monday as speculators created fresh positions amid positive trend in the spot market. At the Multi Commodity Exchange, aluminium contracts for August delivery rose by 65 paise, or 0.26 percent, to Rs 249.95 per kg in a business turnover of 1,290 lots. Analysts said fresh positions created by traders amid demand from consumer industries supported aluminium prices in the futures market.

Glenmark Pharma Share Price: Shares of Glenmark Pharmaceuticals Ltd surged 10 per cent on Friday after the company announced that it has signed an up to USD 2 billion deal with AbbVie to commercialise its under-development drug for treating cancer and autoimmune diseases, in one of the biggest transactions in the pharma sector. The stock rose 9.99 per cent to hit a fresh 52-week high and upper circuit limit of Rs 2,095.65 on the BSE. On the NSE, the stock rose 10 per cent to Rs 2,094.40 - its fresh 52-week high and upper circuit limit. Ichnos Glenmark Innovation, an arm of Glenmark Pharmaceuticals, has signed an agreement for its key investigational asset 'ISB 2001'. ISB 2001, intended for the treatment of cancer and autoimmune diseases, has been developed for oncology and aut...