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Moneycontrol Selects: Top stories this evening

Our specially curated package of the most interesting articles to help you stay at the top of your game.

August 10, 2022 / 06:55 PM IST

Here are the top stories this evening:

Taking Stock: Market ends flat ahead of US inflation data; metal stocks shine, IT drag

Indian shares were under pressure as market participants turned cautious ahead of the US inflation data. Gains in capital goods and metal stocks helped the market recover most of the losses to close flat on August 10.

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RBI releases first set of norms for digital lending

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The Reserve Bank of India on August 10 released norms to regulate digital lending to crack down on the growing number of frauds and unlawful activities. All loan disbursals and repayments have to be executed only between the bank accounts of the borrower and the regulated entity without any pass-through or pool account of the lending service provider (LSP) or any third party, the regulator said.

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Coal India Q1 Result | Net profit zooms 178% to Rs 8,834 crore

Coal India on August 10 reported a consolidated net profit of Rs 8,834.22 crore for the quarter ended June, up 178.31 percent compared to Rs 3,174.15 crore in the same quarter last year. Revenue from operations came in at Rs 35,092.17 crore, rising 38.79 percent from Rs 25,282.75 crore in the year-ago quarter, the world's largest coal miner said in an exchange filing.

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Price freeze on petrol, diesel, LPG to hit profitability of IOC, BPCL, HPCL: Fitch Ratings

The freeze on petrol, diesel and LPG price revision despite rising cost will hit profitability of state-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) this fiscal, Fitch Ratings said on Wednesday.

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Aluminium manufacturers brace for uncertainty as global majors cut supplies amid escalating fuel cost

Aluminium manufacturers in India may be staring at uncertain times going ahead as global prices continue to soften even as global manufacturers cut supplies amid escalating costs. While typically June quarter is weak for the sector, there are signs that the global weakness is weighing on the country’s aluminium manufacturers. The outlook of the aluminium players looks way grimmer given the global trend and local players being highly sensitive to the London Metal Exchange (LME) prices are not expected to be unscathed.

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Policybazaar Q1 result | Loss widens to Rs 204 crore but revenue jumps 112%

Policybazaar operator PB Fintech on August 10 reported a consolidated loss of Rs 204.33 crore for the quarter ended June FY23, widening from Rs 110.84 crore in the corresponding period of the last fiscal due to weak operating performance. The company, which also operates online lending platform Paisabazaar, in its BSE filing reported a significant increase in employee expenses (up 82 percent YoY), and advertising & promotion expenses (up 173 percent YoY) for the quarter.

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Airlines told to share international passengers' info with customs department

Air carriers are now required to share with the customs department information about international flyers to prevent violation of law and improved “risk assessment” of passengers entering or leaving the country.

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