Adani Enterprises, managed by Gautam Adani, will join the Nifty 50 on Friday, September 30, as part of the NSE’s upcoming semi-annual index rejig. Shree Cement will be replaced in the 50-stock index by Adani Enterprises. After Adani Ports and Special Economic Zone, this is the second Adani stock to be listed in the Nifty…
Gold prices rise slightly from two-year lows on Tuesday as a rally in the dollar paused, while a recovery in copper was cut short by data showing more weakness in Chinese industrial activity. Gold futures were unchanged at $1,637.25 per ounce, while spot gold increased 0.5% to $1,629.96. Due to what looked to be a…
S&P Global Ratings maintained its economic growth prediction for India at 7.3% in FY23 and 6.5% in FY24, with “risks weighted to the downside.” Retail inflation is expected to remain over the central bank’s medium-term objective of 2-6% through the end of 2022. According to the agency’s new Economic Outlook for the Asia Pacific, rising…
Oil and Natural Gas Corp sold oil through a three-month local tender for the first time, commanding $5-$8 per barrel more than existing rates under new rules that enable producers’ marketing freedom, according to industry sources. According to the report, ONGC, the country’s leading oil explorer, accepted bids at that level through an auction of…
Farmers in Punjab, Haryana, and western Uttar Pradesh sowed three new basmati rice varieties for the first time this Kharif season. These varieties have demonstrated potential since they are resistant to bacterial blight and blast diseases and require less pesticide application. According to a preliminary analysis by the Indian Agricultural Research Institute (IARI), Pusa, Delhi,…
The Monetary Policy Committee (MPC) is expected to unanimously decide to raise the policy repo rate by 50 basis points (bps) at its upcoming meeting in order to rein in above-target inflation and address currency concerns. If the MPC votes for a 50 basis point increase in the repo rate (the interest rate at which…
Crude oil futures were trading at about $85 per barrel on Monday, after falling by almost 6% over the previous week. November crude oil futures on WTI were at $78.30, down 0.56 percent, while November crude oil futures on Brent were at $85.61, down 0.63 percent, both as of 10:02 a.m. On the Multi Commodity…
The Indian rupee fell to a new record low on Monday, owing to risk aversion in equity markets and a strong U.S. dollar. Investors are apprehensive ahead of the RBI MPC meeting later this week. The native currency began at 81.52 per dollar, down from Friday’s finish of 80.99. Analysts predict that the rupee would…
Prices of natural gas are likely to rise to record levels at the rate review scheduled this week. On October 1, 2022, The central Government-mandated price for domestic natural gas will be altered. After accounting for the recent spike in energy costs, the price paid for gas generated from old fields, such as those held…
In a bid to drive efficiency and cut operational costs, Tata Steel has decided to merge seven subsidiaries, including four listed entities with itself. The Board of Directors of all the Tata Steel group companies have approved the schemes for the proposed amalgamation. Based on an independent valuer report, Tata Steel Long Products investors will get…
