IT giant Wipro, based in Bengaluru, announced on Tuesday that its Rs 12,000 crore share purchase plan will begin on June 22 and end on June 29. The board of the IT behemoth approved a plan in April of this year to purchase up to 26,96,62,921 equity shares from its owners, or 4.91% of its…
commodity exchange After ceasing to trade the commodity in 2009, the National Commodity and Derivatives Exchange (NCDEX) would resume offering groundnut futures contracts the following week. The trading of groundnut futures contracts will resume on June 20 and continue through the months of July through September 2023. The exchange will continue to introduce new contracts…
Along with the decline in Asian currencies, the rupee slightly declined versus the dollar. In the morning session, the local currency was trading at 82.03 per dollar, down 0.11 percent from its previous close of 81.94. The dollar index, which gauges how well the US dollar performs versus a basket of other currencies, was down…
The US Federal Reserve’s hawkish comments yesterday caused gold to decline by -0.33% to settle at 59157. In its most recent report to Congress, the Fed said that while inflation in important segments of the US services industry “remains elevated and has not shown signs of easing,” it decided to leave interest rates steady but…
The National Commodity and Derivatives Exchange’s (NCDEX) Jeera July contract prices just crossed the 52,000 mark, signalling a strong bullish trend in the market. This price increase is the result of a number of fundamental issues. The reduced production levels seen over the last two years are one of the main factors affecting the jeera…
The lowest commodity prices since March 3, improved economic indicators, foreign money inflows, and the Indian rupee all contributed to its best week since that date. The local rupee was helped by the broad-based decline in the value of the dollar following the Fed’s rate-pause announcement. According to the official data, there have been over…
According to its top management, industry heavyweight Tata Steel expects to spend a combined Rs 16,000 crore on capital projects for its domestic and international operations during the current fiscal year. According to the company’s CEO & MD T V Narendran and Executive Director & CFO Koushik Chatterjee, Tata Steel has allocated Rs 10,000 crore…
As the Kharif sowing acreage is anticipated to decline during the current season, turmeric prices yesterday increased by 2.01% to 8832. The expected drop in Maharashtra’s sowing area is between 10% and 20%. The acreage is anticipated to drop by 10% to 15% in Tamil Nadu (NS: TNNP). A reduction in acreage between 18% and…
In anticipation of increased crude demand from Chinese refineries, crude oil yesterday finished up 0.72% at 5877. According to data, China’s throughput at oil refineries increased by 15.4% in May compared to the same month last year, making it the country’s second-highest monthly total ever. According to the International Energy Agency’s (IEA) most recent Oil…
The price of gold yesterday increased by 0.1% to 59355 as traders analyzed the most recent changes to monetary policy. The Federal Reserve stopped it’s tightening drive but made a suggestion that interest rates might rise again this year. At the same time, the ECB announced a further 25 bps increase in borrowing costs and…
