Business News Live: Indian market shows strength in pre-opening, Sensex opens with a gain of 122.67 points

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Saudi Arabia to continue oil production cuts until September

Saudi Arabia said that it will continue to cut crude oil production by one million barrels per day till September. In July, Saudi Arabia announced a cut of one million barrels per day in oil production to accelerate the sluggish crude oil prices. But now he has decided to continue this process till the end of September. Due to this, the prices of crude oil in the international market have increased by three percent.

You can now buy tickets at all stations of Delhi Metro by paying through UPI.

Delhi Metro has introduced UPI payment facility at ticket vending machines and counters at all its stations with the aim of making things easier for the commuters. Delhi Metro Rail Corporation (DMRC) said in a statement that the objective of this initiative is to make ticket service and travel digital and seamless. According to the statement, commuters will now be able to recharge their smart cards or buy QR tickets for Metro through the ‘Unified Payment Interface’ (UPI) app on their smartphones, just like they use it in their daily life at malls, shops. We do. DMRC introduced the UPI service at select ticket vending machines in Noida and Ghaziabad sections in 2018.

Indian market showed strength in pre opening, Sensex opened with a gain of 122.67 points

There is hope of some relief in the market on the last trading day of the week. The pre-opening of the market has been flat. The Sensex was trading at a level of 65,363.35 with a gain of 122.67 points, or 0.19 per cent. At the same time, the Nifty was trading at a level of 19,377.90 with a decline of 3.80 points i.e. 0.02 per cent.

lic housing net profit up 43 percent in first quarter

LIC Housing Finance’s net profit increased by 43 percent to Rs 1,324 crore in the first quarter of the current financial year. The company said on Thursday that LIC’s subsidiary housing finance company had earned a net profit of Rs 925 crore in the same quarter of the previous financial year. LIC Housing Finance told the stock market that the company’s total income increased to Rs 6,747 crore in the first quarter, from Rs 5,291 crore in the same quarter of the previous financial year. In terms of asset quality, the company’s gross non-performing assets (NPAs) stood at 4.98 per cent of total loans in the quarter under review, as against 4.96 per cent in the same quarter last fiscal. Net NPAs declined marginally to 2.99 per cent as against 3.01 per cent in the corresponding quarter of the previous financial year.

Bharti Airtel’s net profit stable at Rs 1,612 crore in Q1

Telecom company Bharti Airtel’s net profit remained almost stable at Rs 1,612 crore on an annual basis in the first quarter of the current financial year. Bharti Airtel said in a statement on Thursday that the company’s revenue grew 14 percent year-on-year to Rs 37,440 crore in the June quarter due to strong performance across segments. Gopal Vittal, Managing Director, Bharti Airtel said, “We delivered strong and competitive growth across all our segments. During this period, 56 lakh new 4G customers were added and this time maximum number of postpaid customers were added, which is the highest in any quarter. Revenue from mobile service in India increased by 12.4 percent on an annual basis. Good growth of 4G customers and increase in Average Revenue Per User (ARPU) are the major contributors to this. The company told the stock market that the integrated net profit (excluding exceptional items) increased by 0.3 per cent year-on-year to Rs 1,612 crore. The company said that the average revenue per user (ARPU) increased to 200 in the first quarter, while it was 183 in the quarter ending June 2022. It is considered a key parameter for telecom operators.

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