Business
Inflationary Blow: Petrol, diesel prices raised after over 4 months

State-owned oil marketing companies (OMC) on Tuesday raised petrol and diesel prices after more than four months of stable rates.
Accordingly, the increase in selling price, which includes state levies, central excise and cess amongst other factors, came days after an astronomical rise in crude oil prices due to the Russia-Ukraine war.
In New Delhi, the price of petrol and diesel increased by 80 paise per litre.
As per pump prices, petrol now costs Rs 87.47 per litre and diesel Rs 96.21 per litre in the national capital.
The prices had remained unchanged since November 2021 at Rs 86.67 per litre for diesel and Rs 95.41 per litre for petrol.
In the financial capital Mumbai, prices were hiked to Rs 95 per litre for petrol from Rs 94.14 and Rs 110.82 per litre from Rs 109.98.
Besides, prices of both the transport fuels were raised in Kolkata. The petrol prices rose to Rs 105.51 and diesel to Rs 90.62 per litre.
In Chennai too, they were increased. Petrol there now costs Rs 102.16 and Rs 92.19 per litre.
Till now, fuel prices have been steady since early November when the Centre reduced excise duty on petrol and diesel by Rs 5 and Rs 10 per litre, respectively.
The OMCs revise the transportation fuel cost based on various factors such as rupee to US Dollar exchange rate, cost of crude oil and demand of fuel amongst others.A
Resultantly, the final price includes excise duty, value added tax and dealer’s commission.
It was widely expected that the OMCs will revise the current prices due to high crude oil cost.
Lately, crude oil prices have been volatile surging by nearly 35-40 per cent on fear of tight supplies.
Furthermore, it is feared that current sanctions against Russia will curtail more global supplies and stifle growth.
In case of India, the crude oil price range is a cause of concern as it may ultimately add Rs 15-Rs 25 in petrol and diesel selling prices.
At present, India imports nearly 85 per cent of its crude oil requirements.
“On signals that the European Union is coming closer to a ban on Russian crude imports to punish Moscow for its invasion of Ukraine, oil rose for a fourth day, set for its greatest run in a month,” said Kshitij Purohit, Lead of Commodities and Currencies CapitalVia Global Research.
“The oil market will continue to benefit from a lack of supply in the system, and of course, Russia’s invasion of Ukraine hasn’t helped matters.”
According to Dilip Parmar, Retail Research Analyst, HDFC Securities: “Currently, Brent crude oil prices are quoting at $119 per barrel rose more than $10 per barrel in two days as Indian basket of $108.25 per barrel on 18 March. Looking at the geopolitical uncertainties’ prices of crude oil likely to head higher in coming days.
“We believe the retail petrol and diesel prices could rise in near term looking at current price movement in crude oil.”
Business
SEBI confirms ban on LS Industries and key individuals amid fraud probe

Mumbai, May 31: The Securities and Exchange Board of India (SEBI) has confirmed the suspension of LS Industries, its promoter Profound Finance, and four other individuals from participating in the securities markets.
The action comes as part of an ongoing investigation into allegations of fraudulent activities and manipulation of the company’s share price.
The individuals barred include Jahangir Panikkaveettil Perumbarambathu, the promoter of Profound Finance, as well as Suresh Goyal, Alka Sahni, and Shashi Kant Sahni HUF, a Dubai-based NRI shareholder of LS Industries.
SEBI has extended the deadline for completing the investigation until November 15 and has directed all involved parties to cooperate fully with the inquiry.
Back in February 2025, SEBI had issued an interim order banning LS Industries and its associates from trading in the stock market due to suspicious activities.
The regulator also ordered Perumbarambathu to return illegal gains of Rs 1.14 crore that he allegedly earned through the sale of shares under the suspected scheme.
SEBI ‘s probe centres on LS Industries and its associates being involved in a scheme to artificially boost the company’s share price.
Despite having reported almost no revenue for three consecutive financial years (FY22 to FY24) and the first three quarters of FY25, the company’s stock surged dramatically.
Between July 23 and September 27, 2024, the share price skyrocketed from Rs 22.50 to Rs 267.50 — raising the company’s market valuation to an eye-popping Rs 22,700 crore.
This sharp rise in share price occurred without any improvement in the company’s financial performance, raising red flags.
SEBI’s interim findings noted dubious transfers of shares to Perumbarambathu and unusual trading patterns by some individuals.
The regulator stated that these factors strongly suggested a deliberate plan to mislead investors and manipulate the stock.
SEBI emphasised that it appeared, on the surface, that LS Industries and the other parties were involved in a coordinated effort to deceive the market.
“The investigation is ongoing, and the parties will remain barred from market activities until its conclusion,” the market regulator stated.
Crime
Woman drug supplier arrested in Delhi’s Mangolpuri; ganja seized

New Delhi, May 31: A woman drug supplier was arrested from Delhi’s Mangolpuri area and 427 grams of ganja was recovered from her possession, police said on Saturday.
The accused was identified as ‘M’. The arrest comes amid the Delhi Police’s ongoing crackdown on narcotics under its ‘Zero Tolerance’ policy and the broader objectives of the Nasha Mukt Bharat Abhiyan (NMBA).
Acting on a tip-off received by Constable Bajrang of Police Station Mangolpuri that a female was allegedly in possession of ganja, a raid was conducted at the specified location.
Constable Bajrang and a female staff member observed a suspicious female carrying a white polythene bag.
“On noticing the presence of police personnel, the suspect attempted to hide. However, the alert police team, with the assistance of a female staff namely W/HC Pooja, swiftly apprehended her,” said Sachin Sharma, Deputy Commissioner of Police, Outer District, New Delhi.
A polythene bag containing 427 grams of ‘ganja’ and Rs 1,470 in cash was recovered from the possession of the accused.
The accused was booked under Section 20(A) of the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985 at Police Station Mangolpuri.
Further investigation is underway to identify and apprehend other associates involved in the illegal drug trade, the police said.
In another case on May 29, the Anti-Narcotics Task Force (ANTF) of the Delhi Police Crime Branch arrested Jameel Ahmad, the alleged mastermind of a major drug trafficking syndicate. Ahmed has been absconding for six years.
The case dates back to June 2019, when the then Narcotics Cell (now ANTF) of the Crime Branch seized 500 kg of ganja from a truck at Metcalfe Bus Stand, Kashmere Gate.
Three persons — Aslam Khan and Mausam Khan, both from Nuh district in Haryana, and Jakam Khan from Alwar, Rajasthan — were arrested in connection with the consignment, who revealed that they had committed the crime at the behest of Ahmed.
National
Delhi records wettest May; IMD issues ‘Orange Alert’ for today

New Delhi, May 31: Delhi recorded a minimum temperature of 34.8 degrees Celsius on Saturday morning, marking one of the warmer days of the season. However, despite the high morning temperature, this May has been unusual in many ways, including below-normal daytime temperatures, unprecedented frequent rains, and the absence of any heatwave conditions.
In terms of rainfall, May 2025 has been historic for Delhi, with the capital receiving 188.9 mm of rainfall, the highest-ever rainfall recorded in the month of May. This is over 202 per cent more than the normal monthly average of 62.6 mm. In contrast, May 2024 saw just 0.4 mm of rain, which was 99 per cent below average, with not a single rainy day recorded.
According to the India Meteorological Department (IMD), this is only the third time in the last five years that Delhi has seen the mercury stay below 40 degrees Celsius throughout May. Not a single day this month recorded conditions severe enough to be classified as an intense heatwave, making it a rare exception in the typically scorching summer month.
The current spell of unusual weather is being attributed to the early arrival of the monsoon in Mumbai, which has had a ripple effect on weather systems in northern India, including Delhi. However, meteorologists have clarified that the monsoon has not yet arrived in the national Capital, even though conditions have turned significantly cooler and wetter.
The IMD has issued an ‘Orange Alert’ for Delhi-NCR tonight, warning residents to stay alert as thunderstorms and heavy rain are likely. An ‘Orange Alert’ signals potentially disruptive weather, and people are advised to prepare for sudden changes in conditions.
The forecast suggests rain accompanied by thunder and strong winds will continue across Delhi and surrounding areas till June 4. A ‘Yellow Alert’ is also in place for Saturday, with the possibility of rain showers at any time during the day.
Meanwhile, the Air Quality Index (AQI) stood at 167, placing it in the ‘moderate’ category, according to the Central Pollution Control Board (CPCB).
The AQI scale defines values between 101–200 as ‘moderate,’ while 201–300 is ‘poor,’ and 301–400 is considered ‘very poor’.
With unpredictable weather continuing, Delhi people are advised to remain cautious and plan accordingly as the city experiences one of its most unusual Mays in recent history.
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