The Indian rupee (INR) decreased further on Tuesday against the U.S. dollar and hit a new low of 79.66 before closing the day at 79.60. The Indian rupee has lost a little over 7% for the year. On the one hand, the rising dollar is weighing on the rupee, and on the other, the continuous…
Maize (corn) exports from India have dropped to a trickle as high domestic prices have made its shipments uncompetitive in the global market. “Brazil is shipping to stations, such as Vietnam, at a very competitive price of $320 a tonne cost and shipment. But, over here, domestic prices are ruling higher, making exports unfeasible,” said…
Coal India Ltd (CIL) registered a 65% growth in capital expenditure at ₹3,034 crores during the first quarter (April-June) of the current financial year compared with ₹1,841 crores same period last year. The Stateowned miner, which had scaled up its capital expenditure to ₹14,834 crores for the year ended March 31, 2022, is likely to…
Cotton imports by a few spinning mills in Tamil Nadu are likely to result in trade discussions with the buyers yet to get delivery of consignments over the last few months. Some of the mills which had to receive these imported cargoes in March and April have not got any response from the sellers over…
The central government is likely to cut or abolish the recently-imposed export taxes on key steel products soon, while also raising the impost on iron ore dispatches. The move comes amid concerns expressed by steel makers that while domestic demand has remained dulled in recent months, companies are losing out to overseas customers due to…
The Indian rupee hits a fresh record low against the U.S. dollar on July 11 amid weakness in the domestic stock market and as concerns about global economic growth continued to support the safe-haven greenback. The partially convertible rupee was trading at 79.41 per dollar compared to its previous close of 79.25 on Friday. The unit had hit…
Gold prices remain unchanged on Saturday. 10 grams of 24-carat gold is currently trading at Rs 51,110, whereas, 10 grams of 22-carat gold is trading at Rs 46,850. Silver prices also remain unchanged with one kg of silver metal trading at Rs 57,000. A variety of factors, including manufacturing charges, state taxes, and excise duty, have…
Indian equity market regained the lost momentum and gains nearly 3 percent during the week ended July 8, tracking positive global cues, a good monsoon, reduced FIIs selling, and falling commodities prices. For the week gone by, BSE Sensex advanced 1,573.91 points (2.97%) closed at 54,481.84, while the Nifty 50 added 468.55 points (2.97%) settled at…
Tata Power, one of India’s largest power generation companies has lined up a capital expenditure of ₹75,000 crores for renewable energy over the next five years, Chairman, N Chandrasekaran said to shareholders at the company’s 103rd annual general meeting. The focus on the renewable energy sector has led to steady growth of India’s renewable energy…
Production of soyabean is in full swing in the key growing areas of central India with the monsoon picking up in the region. As per the latest production figures released by the Soyabean Processors Association of India (SOPA), the oilseed has been cultivated on over 70 lakh hectares (lh) across the country. With brisk production…
