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SpiceJet Ltd reported its highest ever quarterly profit in the June quarter

The company’s stand-alone net profit rose to ₹261.7 crore in June quarter from a loss of ₹38.1 crore in the corresponding period of the previous fiscal year, the airline said. The result beat the estimates compiled by six brokers polled by Bloomberg who expected it to report ₹137.50 crore in profit.Stand-alone revenue rose 39.59% to ₹3,145.26 crore during the quarter, beating the estimates of ₹2,991.70 crore by seven brokers polled by Bloomberg.SpiceJet’s profit in Q1…

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Gold prices jump to record highs again, silver rates surge

Gold prices in India are surging to new highs. On MCX, October gold futures were up 0.65% to a new high of ₹37,830 amid a rally in global bullion prices. Tracking gold, silver prices also shot up. On MCX, September silver contracts surged 1.5% to ₹43,260. In global markets, gold futures surged above the important level of $1,500 an ounce on the Comex, rising as much as 1.2% to a six-year high of $1,502.30. Gold…

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RBI cuts repo rate by 35 basis points

The Reserve Bank of India’s (RBI) monetary policy committee (MPC) on Wednesday lowered its repo rate by an unconventional 35 basis points to 5.4%. This is the fourth reduction in a row of its key policy rate since Shaktikanta Das took over as the governor of the central bank in December last year. All members of the MPC unanimously voted to reduce the policy repo rate and to maintain the accommodative stance of monetary policy.…

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