Mahindra & Mahindra (M&M) plans to introduce an electric version of XUV300 SUV in the January-March quarter of the current financial year. At 4.2 meters in length, the electric version will be longer than the current ICE powered XUV300. Also, the company will invest ₹1,900 crore till FY24 for creation of additional production capacity for…
Coconut oil manufacturers are doubtful about a rally in prices, at least in the short term, at a time when rival edible oils are moving high. The excess production in the growing regions for the fall, thanks to good climatic conditions in the last two harvest seasons. The industry people expect the current harvest also…
The rupee fall 13 paise to 77.67 against the U.S. dollar in early trade on Tuesday, weighed down by the rush in crude oil prices. At the inter-bank foreign exchange, the rupee opened at 77.65 against the U.S. dollar, then lost ground to price at 77.67, registering a fall of 13 paise from the last…
JSW Steel plans to invest ₹20,000 crore in capital expenditure this financial year and does not expect the new export duty to either impact its sales and output or bring down capacity utilization. The fresh capital expenditure includes ₹18,000 crore investment in JSW Steel and ₹2,000 crore in Bhushan Power and Steel. The company will…
Gold prices solid up in gusty trading on Monday in global markets, as a weakening dollar delighted greenback-priced bullion, although gains were controlled by some investors turning to riskier assets in Asia. At morning time, gold contracts were up 0.18% at Rs 51,005 for 10 gram on the Multi-Commodity Exchange (MCX) while silver gained 0.46% at…
The comments come on the heels of talks in the global market that after banning wheat exports and limiting sugar shipments, the Indian government could next target Non-Basmati rice. The Indian government has no plans to ban rice (Non-Basmati) exports or announce any curbs on its shipments, two officials involved in the decision making have…
Oil prices jumped around a two-month high on Friday, with Brent crude on track for its biggest weekly jump in one and a half months, supported by the prospect of an European Union ban on Russian oil and the upcoming summer driving season in the United States. Brent crude futures for July down 9 cents…
The Reserve Bank of India (RBI) on Wednesday cancelled the certificates of registration (CoRs) of five Non-Banking Financial Companies (NBFCs) who had been offering their services through app-based platforms. The regulator mentioned irregular lending practices of the companies as the reason for its action. “The CoR of the Five NBFCs have been cancelled on account…
According to the World Steel Association data, international steel production in April was decreased by 5.1% year-on-year to 162.7 million tonnes (mt). World production has been on the down swing since July last year as China, which makes up over 50% of the output among the 64 countries whose data are taken into credit, has…
Indian Rupee gains 3 paise to 77.52 against the U.S. dollar in the early trade on Thursday as a positive trend in domestic equities and weak American currency overseas supported the local unit. Although, increasing crude oil prices in the global markets and continued foreign fund outflows kept the pressure on the domestic currency, Forex…
