In the context of the Navi Mumbai Airport Influence Notified Area (NAINA) Project in Maharashtra, Larsen and Toubro (L&T) stated on Wednesday that its Transportation Infrastructure company had obtained a sizable order for the Integrated Infrastructure Development project in Town Planning Schemes 2 to 7. The project was given the go-ahead by City and Industrial…
Data from the National Securities Depository (NSDL) shows that in the first half of August, foreign portfolio investors (FPIs) sold shares worth $1.76 billion of financial services businesses, marking the largest outflow from the industry since January. With $2.24 billion in total sales, the financial services industry accounted for over 78% of all net outflows…
As the prospect of lower U.S. interest rates hurt the dollar and encouraged more flows into the yellow metal, gold prices steadied in Asian trade on Wednesday after reaching record highs this week. Both spot and December-expiring gold futures saw 0.1% and 0.1% increases, respectively, to $2,515.44 and $2,553.35 an ounce. At $2,531.72 an ounce…
Oil prices fell on Wednesday following a trip by mediators to the Middle East, growing US crude supplies and hopes that tensions were easing. Brent crude futures were down 9 cents, or 0.1%, at $77.11 a barrel. U.S. West Texas Intermediate crude was down 12 cents, or 0.2%, a barrel. U.S. crude stocks were forecast…
Manufacturer of steel tubes and pipes Hi-Tech Pipes received an order for ERW steel pipes worth Rs 105 crores from clients in the renewable energy industry. The company claims that within the next three months, its newly constructed, state-of-the-art facility in Sanand, Gujarat, with its enhanced technology, would help meet this demand. Solar power plants,…
During the week ending August 16, the Indian rupee saw little change, finishing at 83.95 with little variation. There was modest support for the rupee due to the US recession fears abating, carry trade unwinding slowing down, and oil prices easing. Pressure was applied, though, in part because of a larger trade imbalance in July…
With Israel accepting a plan to address the issues preventing a ceasefire agreement in Gaza, concerns over a disruption in Middle Eastern oil supplies were allayed, and oil prices inched down on Tuesday. At $77.54, Brent crude dropped 12 cents, or $2.02, or 0.15%. Tuesday’s front-month U.S. West Texas Intermediate oil futures were down 14…
Tuesday’s opening price for the gold October futures contracts at MCX was Rs 71,513 per 10 grams, down 0.1% or Rs 71, while the silver September futures contracts were trading at Rs 84,426/kg, up 0.1% or Rs 88. Over the past three days, there has been a gain of roughly Rs 1,400/10 gram in gold…
The energy sector is expected to account for 35% of revenues for Tata Projects, the engineering, procurement, and construction (EPC) arm of the Tata Group, in the next two to three years, up from 25% at the moment. To this end, the company intends to expand internationally, boost business from group companies, and build its…
If Trent and Bharat Electronics (BEL) are included in the September review’s Nifty 50 index, they might draw inflows of approximately $900 million. The modifications will become effective on September 30 and will be made public on August 23. These two stocks will replace Divi’s Laboratories and LTIMindtree. The firm estimates that Trent might experience…
