Maritime regulator steps in to check ‘opportunistic pricing’ by shipping companies

NEW DELHI: Amid complaints over “predatory and unnecessary charging” by shipping lines, the maritime regulator has invoked power on Monday to seek transparency in pricing as part of efforts to ensure that there is no profiteering.In a circular, DG Shipping has asked the shipping companies and agents to “refrain from predatory, non-transparent and opportunistic pricing…

Read More

Reliance buys beauty brand Pahadi Local

MUMBAI: Reliance Retail has acquired beauty and wellness brand Pahadi Local along with other business assets from Pahadi Goodness, it said Monday. Founded in 2018, Pahadi Local produces Himalayan-inspired personal care products and works with women-led self-help groups in Ladakh and Himachal Pradesh. Reliance Retail said it will support the brand’s expansion using its wide…

Read More

Runaway crude weighs on oil & gas, paint stocks

MUMBAI: Rising crude oil prices in the international markets took a heavy toll on most oil & gas, and paints stocks as these industries face the prospect of runaway raw material rates. At Monday’s close, among the leading stocks from these two sectors, BPCL was down 6.1%, HPCL 5.1%, GAIL 4.3% and Asian Paints 2.6%.On…

Read More

Sebi chief urges calm amid global turbulence

MUMBAI: Sebi chief Tuhin Kanta Pandey on Monday urged the investing community to not panic in the current volatile geopolitical situation even as markets have been sliding and said that it is important not to get too worried at this moment since India’s economic fundamentals are strong.The top markets regulator admitted that global markets are…

Read More

Rupee tumbles to new low of 92.35 against dollar

MUMBAI: The rupee fell to a record low on Monday and closed at 92.33, down 58 paise from Friday’s close of 91.75, as escalating conflict in West Asia pushed crude oil prices to around $119 a barrel and triggered foreign capital outflows from oil-importing markets seeking safer assets. The currency touched a record low of…

Read More