In major milestone for India’s offshore energy exploration, ONGC strikes gas in Mahanadi Basin, 43 km off Odisha coast; proximity could enable faster monetisation if commercially viable

The discovery was made on September 18 at the MN-DW18-1-H-D well in the Mahanadi Offshore Basin. In a big breakthrough, Oil and Natural Gas Corp (ONGC) has discovered gas in a deepwater well off India’s eastern coast. The find is located close enough to Odisha and may potentially enable quicker development if further appraisal establishes…

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Wife sold soft drink for Rs 26 instead of Rs 25, Re 1 overcharge led to husband facing case for 13 years; Bombay HC quashes prosecution because wife was shop owner

The high court described the prosecution as “misconceived and misdirected”. (Image for representative purpose only) A man working in his wife’s shop faced a thirteen year criminal case for the sale of a cold drink above the maximum retail price. The Bombay High Court has now brought an end to a criminal case that had…

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Stock market today: BSE Sensex jumps over 100 points in opening trade, Nifty 50 trades above 24,400

Indian benchmark indices ended the previous session in green, with Nifty 50 rising 67.90 points, or 0.29%, to 23,414.30, while BSE Sensex gained 564.03 points, or 0.76%, to close at 74,858.99. Easing crude oil prices, lower bond yields and hopes of diplomatic engagement supported investor sentiment. Geojit Investments’ head of research Vinod Nair said that…

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Small-city ecomm surges, order values trail big markets

BENGALURU: Online shopping is expanding beyond India’s biggest cities, but the value of those purchases remains concentrated in larger markets.Of more than 200 million orders processed in the last 12 months up to July this year, 57.2% originated outside the 96 largest cities, but these orders accounted for only 39.3% of total transaction value. Their…

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MS expands India capacity for cloud and AI services

NEW DELHI: Microsoft’s new India South Central cloud region in Hyderabad is among its largest infrastructure investments in Asia, the company’s India and South Asia president Puneet Chandok said, as it expands capacity for cloud and AI services.The facility is part of Microsoft’s $20.5 billion investment commitment across Asia. Chandok did not disclose how much…

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Starbucks to set up GCC in Chennai

Starbucks plans Chennai GCC with 800 new jobs CHENNAI: US-based coffee chain Starbucks will set up a global capability centre (GCC) in Chennai. It will likely create 800 high-value jobs in the first phase.The new centre will add to Chennai’s growing GCC ecosystem, with companies using the city to build technology, business and other global…

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GST rate rejig helps consumers upgrade

NEW DELHI/MUMBAI: A year after GST rates were cut, automobile dispatches have continued to climb. Several two-wheeler users moved to four-wheelers as price cuts improved affordability, TV buyers have shifted towards larger sets and consumer goods volumes picked up in the Oct-Dec quarter, although they are now under pressure due to the West Asia crisis.Passenger…

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