TCS Share Price Drops 2% After Announcing 12,000 Job Cuts; Nifty IT Index Slips Over 1%
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15 minutes ago
- News18
Unifi Capital sells 1.6 pc stake in Marksans Pharma for nearly Rs 168 cr
Agency: New Delhi, Jul 28 (PTI) Investment management company Unifi Capital on Monday sold a 1.6 per cent stake in Marksans Pharma for nearly Rs 168 crore through an open market transaction. According to the bulk deal data on the BSE, Chennai-based Unifi Capital Pvt Ltd offloaded 72.41 lakh equity shares or 1.6 per cent stake in Marksans Pharma. The shares were disposed of at an average price of Rs 231.50 apiece, taking the transaction value to Rs 167.63 crore. Details of the buyers of Mumbai-based Marksans Pharma's shares could not be ascertained on the exchange. Shares of Marksans Pharma slipped 0.68 per cent to close at Rs 226.45 apiece on the BSE. PTI HG HG SHW First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
18 minutes ago
- News18
GAIL Q1 net profit falls 30pc on petchem losses, lower gas margins
New Delhi, Jul 28 (PTI) GAIL (India) Ltd, the nation's top natural gas sales and distribution firm, on Monday reported a 30 per cent drop in its June quarter net profit on widening losses on petrochemical business and a drop in gas marketing margins. Net profit was Rs 1,886.34 crore in April-June – the first quarter of 2025-26 fiscal year – compared with Rs 2,723.98 crore earning in the same period last year, according to a company stock exchange filing. While losses on petrochemical business widened to Rs 249 crore from Rs 42 crore in Q1 of last fiscal, earnings from natrual gas marketing nearly halved to Rs 1,071.6 crore. Income from operations rose to Rs 34,792.45 crore in April-June from Rs 33,961.63 crore last year. The company did not give operational highlights like volume of natural gas transported by the company as well as the volumes sold. A GAIL statement gave financial numbers and quoted its chairman and managing director Sandeep Kumar Gupta saying that the firm incurred a capital expenditure of Rs 3,176 crore during the current quarter, mainly on pipelines, petrochemicals, and equity contribution to JVs. Gupta also said GAIL has got oil regulator PNGRB's authorization for doubling of capacity of Jamnagar-Loni LPG pipeline to 6.5 million tonnes per annum at an investment of about Rs 5,000 crore. The project is expected to be completed within three years. The pipeline from Gujarat to Loni near Delhi is the longest pipeline for the transportation of LPG, which is used as cooking gas. 'This project will cut down on carbon-dioxide emissions significantly and reduce road mishaps and leaks," the statement added. PTI ANZ MR (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: July 28, 2025, 20:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
19 minutes ago
- News18
US-China Trade Talks In Sweden May Yield 90-Day Tariff Truce Extension: Report
Last Updated: Tensions in the US-China trade war has escalated sharply since Donald Trump began his second presidential term. A key meeting in Stockholm today between economic officials from the United States and China is expected to address the possibility of a truce extention from tariff war between the two countries, according to Reuters. China is currently facing a deadline of 12 August to reach a tariff agreement with the US, though it is widely anticipated that this deadline may be extended further by 90 days. The talks are being led by US Treasury Secretary Scott Bessent and China's Vice Premier He Lifeng, signalling high-level engagement on both sides. Tensions in the US-China trade war have escalated sharply since Donald Trump began his second presidential term in January this year. Over recent months, not only China but several other countries have faced increased tariffs imposed by the Trump administration. In response, Beijing retaliated by imposing its own tariffs, resulting in a tit-for-tat trade conflict that has seen tariff rates soar beyond 100% in some sectors. Previous meetings in Geneva and London during May and June aimed to halt the ongoing tariff escalation. Preliminary agreements were reached, raising hopes of a broader resolution. The current talks in Stockholm are expected to build on those earlier discussions. A 90-day extension would not only give both sides more time to negotiate a comprehensive deal but would also provide stability for global markets and the international supply chain, which has been significantly disrupted by the ongoing conflict. In a statement given on July 27, just hours before announcing a separate agreement with the European Union, President Trump told the press, 'We're very close to a deal with China. We really sort of made a deal with China, but we'll see how it goes." The EU, in a separate deal finalised on Sunday, agreed to a 15% tariff on exported goods and committed to purchasing $750 billion worth of energy from the US, alongside plans to invest $600 million over the coming years. While a similarly comprehensive package is not expected from the US-China negotiations, today's Stockholm meeting offers a promising sign of progress. Should the extension be granted, it would allow time to arrange a face-to-face meeting between President Trump and Chinese President Xi Jinping, likely to take place in late October or early November. In recent weeks, the Trump administration has also intensified trade talks with nations such as Japan, the United Kingdom, Indonesia, and Vietnam. Notably, Britain has successfully negotiated the lowest agreed tariff rate thus far, set at just 10%. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
