Due to a strong U.S. currency and a spike in Treasury yields, gold prices on the important London spot market fell to their lowest point in six months. Demand for U.S. assets grew as investors anticipated interest rates would rise for an extended period. In spite of the weaker Indian Rupee, domestic gold prices fell…
Vedanta, the metals and energy conglomerate, revealed plans on Friday to spin out its companies into six publicly traded subsidiaries in order to avoid a debt crisis. The Anil Agarwal-promoted company said in a stock exchange announcement that the board has approved the demerger of various companies to unleash “significant value.” According to the regulatory…
In a regulatory filing, L&T Construction said on Friday that the Mumbai Metropolitan Region Development Authority (MMRDA) has awarded its Heavy Civil Infrastructure business vertical a mega order worth more than Rs.7000 crore for the design and construction of an underground road tunnel project between Orange Gate, Eastern Free Way, and Marine Drive Coastal Road…
The rupee surged 9 paisa to 83.10 vs the US dollar in early trade on Friday, supported by a weakening dollar against major rivals and bullish signs from global markets. However, massive selling of shares by foreign investors and an increase in crude oil prices prevented the growth of domestic currency, according to FX dealers….
Prices of cotton candy increased by 0.3% to close at 61080. The increase was brought on by reports of a pink bollworm infestation in Haryana’s cotton growing region. The 2023–24 Cotton outlook shows that the global cotton sector is struggling with declines in both output and consumption. The U.S. cotton predictions for 2023–2024 are for…
Due to profit-taking, crude oil prices declined 2.17% to close at 7,623 after surging due to surprise declines in crude stocks. According to U.S. government data, oil stockpiles decreased by 2.2 million barrels more than expected, highlighting supply limits brought on both Saudi Arabia and Russia’s output curbs. Particularly, oil supplies dropped by 943,000 barrels…
When compared to the same month the previous year, India’s mineral output increased by 10.7% in July 2023. According to a Ministry of Mines announcement, the index of mineral production in the mining and quarrying industry was 111.9 in July 2023, which is 10.7 percent higher than the previous month. According to preliminary data from…
A pink bollworm infestation reportedly damaging the cotton belt in Haryana caused cotton prices to rise 0.63%, closing at 60900. The 2023–24 Cotton prognosis indicates that the global cotton industry is, nonetheless, struggling with decreased production and consumption. Forecasts for 2023–2024 in the United States show higher beginning stocks but decreased output, exports, and ending…
The price of U.S. oil increased by about $1 a barrel on Thursday, reaching its highest level in more than a year as concerns about OPEC+ cuts headed by Saudi Arabia adding to supply shortages throughout the world. The movement was spearheaded by U.S. West Texas Intermediate oil futures (WTI), which surpassed $95 for the…
The fortunes of the paints sector are inextricably linked to the country’s strong economy, which has displayed outstanding strength despite a hard global climate. With India’s growth story unfolding gradually, the paints sector is primed for progress. Positive outlook supported by increased urbanization, increasing building industry demand, infrastructure growth, automotive sector recovery, PMAY government initiatives,…
