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No revision in petrol, diesel prices for 2nd consecutive day




The oil marketing companies (OMCs) have kept pump prices of auto fuels — petrol and diesel — unchanged on Tuesday, the second consecutive day of no revision, and decided to wait and watch the global oil situation before making further changes.

Accordingly, the price of petrol and diesel remains unchanged at Rs 101.19 and Rs 88.62 per litre in Delhi, as per Indian Oil Corporation, the country’s largest fuel retailer.

In Mumbai, the petrol price was stable at Rs 107.26 per litre on Tuesday while diesel rates also remained unchanged at Rs 96.19 a litre.

Across the country as well the petrol and diesel prices remained static on Tuesday, but their retail rates varied depending on the level of local taxes in a particular state.

Under the pricing formula adopted by oil companies, rates of petrol and diesel are to be reviewed and revised by them on a daily basis. The new prices become effective from morning at 6 a.m.

The daily review and revision of prices is based on the average price of benchmark fuel in the international market in the preceding 15-days, and foreign exchange rates.

Fuel consumers can expect fuel prices to remain unchanged or get some relief by way of a cut in days ahead as global oil is expected to remain soft. Oil cartel OPEC and its allies have agreed to gradually raise production levels that should prevent upward price movement. The concerns on demand due to the pandemic is also affecting oil prices.

After touching $ 74 a barrel-mark last week, benchmark Brent crude is marginally lower now at around $ 72 a barrel.


Bank Of Maharashtra Q1 Earnings: Total Business Rises To ₹4,700,000,000,000




The Bank of Maharashtra’s Q1 earnings were reported on the exchange on July 15.

The bank reported their revenue at Rs 6768.76 crore in Q1 FY25, a 24.9 per cent jump from same quarter previous year, which was reported at Rs 5,417.87 crore. The net profit stood at Rs 1,293.68 in Q1 FY25, which saw a 46.5 per cent jump quarter-on-quarter. The same quarter of the previous year saw a net profit of Rs 882,49 crore.

Between Q1FY24 and Q1FY25, the bank’s total business increased by 13.43 per cent YoY to Rs 4.76 trillion. However, compared to the same quarter previous year, the bank’s total deposits increased by 9.43 per cent YoY to Rs 2.67 trillion.

Gross and net NPA

Gross non-performing assets (NPAs) decreased marginally during the quarter, from 1.88 percent to 1.85 percent, demonstrating the resilience of asset quality (QoQ). At Rs 3,873 crore, gross non-performing assets (NPAs) were as of the last quarter, down from Rs 3,833 crore.

The bank’s meager 0.20 percent net non-performing assets (NPAs) did not alter. Net non-performing assets (NPAs) came in at Rs 415 crore, which is the same as the Rs 409 crore collected in the previous quarter.

Net NPAs for the bank held steady at a pitiful 0.20 percent. Net NPAs were reported at Rs 415 crore, which is the same as the Rs 409 crore figure from the previous quarter.

Net interest margin

The bank recorded net interest income (NII) of Rs 2,799 crore for Q1 FY25, up 20 per cent YoY from Rs 2,340 crore in the corresponding quarter of the previous year.

Share performance

The Bank of maharashtra’s share was trading around Rs 68.95 per share on Indian bourses, 5.95 per cent jump from the opening of The counter which opened at Rs 65.94 per share today.

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Gold Price Jumps ₹400 To ₹75,050 Per 10 Grams On Jewellers’ Buying




Gold price on Wednesday jumped by Rs 400 to Rs 75,050 per 10 grams in the national capital on the back of fresh buying from jewellers, according to the All India Sarafa Association.

The precious metal had closed at Rs 74,650 per 10 grams in the previous session.

However, silver prices remained flat at Rs 94,400 per kg.

In sarafa markets, the yellow metal was trading at Rs 75,050 per 10 grams, up by Rs 400 against the previous close, the association said.

Traders said gold prices saw an uptrend due to rise in domestic demand.

In the international markets, spot gold was trading higher at USD 2,380.50 per ounce, up USD 12.60 per ounce.

“Gold prices traded positively. The buying was driven by expectations of weak inflation numbers to be release on Thursday evening in US, which could prompt rate cuts by US Federal Reserve in the September meeting,” Jateen Trivedi, VP Research Analyst, Commodity and Currency at LKP Securities, said.

Additionally, silver prices was also up at USD 31.25 per ounce globally.

“Spot gold closed with a gain of around 0.20 per cent at USD 2,363 per ounce on Tuesday, as the Fed Chair Powell, in his testimony to the US Senate Banking Committee, offered largely a balanced view on the US economy and the Fed’s monetary policy,” Praveen Singh, Associate VP, Fundamental Currencies and Commodities at Sharekhan by BNP Paribas, said.

In his testimony, Fed Chair Powell said that the inflation trend is encouraging; however, the US central bank will need more data to gain confidence in cutting rates.

He (Powell) cautioned that lowering interest rates too little or too late could put the economy and the labour market at risk as inflation is not the only risk the US economy faces now.

“The US Consumer Price Index (June) data will be released on Thursday, which is crucial as traders look for possibility of rate cuts in September,” Singh added.

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Mumbai: Red Fox IT Infra LLP Purchases 22 Office Units For ₹267.5 Crore In Andheri




Red Fox IT Infra LLP, a subsidiary of Redbrick Offices, purchased 22 office spaces at Andheri (East) for Rs 267.5 Crore. The office units are situated on the sixth, seventh, and eighth floors in the E Wing of Times Square Building.

About The Purchase

According to transaction details accessed by CRE Matrix, a real estate data analytics firm, the company paid stamp duty of Rs 8.02 Crore for the office units that collectively measure to 87,618 sq ft. While the deal for 18 office units was registered on May 3, 2024, the remaining four office units were registered on May 8, 2024.

Red Fox also purchased 88 parking spaces as part of the deal from NTPL Developers LLP and others. Recently, ICICI Prudential Asset Management Company purchased properties worth Rs 315 Crore in Santacruz (East).

ICICI Prudential Asset Management Company Ltd purchased 12 floors along with land, three basements, and a ground floor situated at Kalpataru Infinia from Ixora Properties Pvt Ltd.

According to the documents accessed by, the marketplace for commercial properties, ICICI Prudential paid stamp duty of Rs 18.90 Crore to seal the deal that was registered on June 27, 2024. The total area of property is 63,733 sq ft and comes along with 114 parking spaces, the documents stated.

The Colliers India Research Report about India Office Market Snapshot in Q2 of 2024 stated that Mumbai recorded a significant 3.5 mn sq ft of leasing during the quarter ending June 2024, double the levels seen in Q2 2023, the city also had the highest incremental quarterly supply in the past 3-4 years.

It also stated that the vacancy levels remained rangebound amidst balanced demand-supply dynamics while a strong H1 performance has set the stage for office space demand to comfortably exceed 50 mn sq ft for the third consecutive year in 2024.

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