According to a new report, the majority of multinational corporations (MNCs) view India as an alluring investment destination for their global expansion, which will lead to foreign direct investment (FDI) of $475 billion in the next five years as a result of India’s focus on reforms and economic growth. The optimism is driven by both…
Amidst weaker-than-expected economic statistics from India, the rupee fell last week to a new record low and reached 82.85. While factory output fell for the first time in 18 months, higher food costs caused retail inflation to reach a five-month high of 7.4%. The U.S. core consumer price index jumped 6.6% from a year ago,…
As diesel inventories decreased and oil prices reversed previous losses, they gradually increased in Asian trade on Friday. Saudi Arabia and Washington, however, continued to disagree over OPEC+’s intentions to reduce output. By 0242 GMT, Brent crude futures had increased by 29 cents, or 0.3%, to $94.86 per barrel, while U.S. West Texas Intermediate (WTI)…
Retail food inflation increased significantly in September from 7.6% to 8.6%, primarily due to increases in the cost of vegetables and cereals. As a result, overall inflation as measured by the consumer price index increased to 7.4% on an annual basis in September from 7% in August. Due to a surge in the price of…
Infosys exceeded market expectations by reporting a net profit increase of 11.1% year over year for the quarter that ended September 30 at Rs. 6,021 crores. Sequentially, profits increased 12.3% over the previous quarter’s Rs.5,360 crores. The large IT company disclosed a share buyback for Rs.9,300 crore. Operations’ revenue reached Rs.36,538 crores, up 23.4% year…
As a result of strong manufacturing activity and rising consumer confidence, India’s crude oil demand is anticipated to increase by 8% sequentially to 5.35 million barrels per day (mb/d) from October through December 2022. The demand for oil in India is predicted to increase by 1.1% quarterly to 5.41 mb/d between January and March of…
Balrampur Chini Mills plans to increase cane throughput to increase sugar, ethanol, and cogeneration revenues, as well as expand distillery operations to increase the share of ethanol in the overall revenue mix. A change in the cane variety mix is also planned. According to Vivek Saraogi, Chairman and Managing Director of Balrampur Chini, the company’s…
Coal Minister Pralhad Joshi announced on Wednesday that preparations are in the works to boost coal reserves at thermal power plants from 24 million tonnes (mt) to 40 mt by March 2023. As of Tuesday, coal reserves at coal-fired power plants stood at 24.6 mt, according to the National Power Portal. “Our coal inventories are…
Due to its increased availability at reduced pricing in consumer marketplaces, imported pepper from other producing nations is purportedly hurting the prospects of domestically produced goods. Traders said that prices for pepper in the countries that produce it have started to drop and are currently averaging between $2,500 and $2,600 per tonne in Brazil, $3,000…
As a result of a projected production shortage in the State, tobacco auctions in Karnataka are off to a strong start for the 2022–2023 marketing season, with prices opening nine percent higher than the prior year. The start of the auctions on all 10 platforms on Monday has given growers hope for a more prosperous…
