While the India IT services sector’s fiscal first quarter profits showed a wide rebound across all verticals and locations, suggesting stronger fiscal growth than the previous year, the industry continued to enjoy robust deal signings in August. “After recovering in the previous months, the 3M rolling sum of deal signings—a strong lead indicator of deal…
Gold prices fell slightly in Asian trade on Tuesday, but remained close to record highs amid growing confidence that the Federal Reserve will cut interest rates by a wide margin this week. Spot gold fell 0.2% to $2,578.03 an ounce, while gold futures expiring in December fell 0.1% to $2,605.05 an ounce. The dollar fell…
28 lakh bales, or almost 80%, of the crop year 2023–24, or the season ending in September, is projected to be exported as cotton. There were 15.50 lakh bales of cotton exported in the preceding crop year. Higher than anticipated supplies from Maharashtra and Gujarat, the estimated pressing estimates for the 2023–24 season are 323.03…
With the potential to create 26,000 jobs, Torrent Power Limited said on Monday that it had committed an investment of Rs 64,000 crore during the fourth iteration of “RE-Invest 2024” in Gandhinagar. The company announced in a regulatory filing that it has sent two “Shapath Patra” to the Indian government’s Union Ministry of New and…
Because of the Indian market’s resiliency and expectations of a possible interest rate decrease by the US Federal Reserve, Foreign Portfolio Investors (FPIs) invested Rs 27,856 crore in Indian shares in the first half of September. Following a withdrawal of Rs 34,252 crore in April and May, FPIs have become aggressive buyers of Indian stocks…
Oil prices rose on Monday amid expectations of a US interest rate cut this week. Brent crude futures for November delivery were up 15 cents, or 0.2%, at $71.76 a barrel. U.S. for October Crude rose 23 cents, or 0.3%, to $68.88 a barrel. Concerns about supply disruptions and US rig count showed a weekly…
Jeera prices dropped by 0.8% to ₹25,490 due to increased production expectations. However, prices remain supported by strong domestic and export demand and tight global supplies. Farmers are holding onto their stocks for higher prices. The sowing area for jeera has increased this season, with Gujarat’s area rising by 104% and Rajasthan’s by 16%. This…
Oil prices rose on Friday due to production disruptions in the US Gulf of Mexico. Brent crude futures were up 32 cents, or 0.44%, at $72.29 a barrel. U.S. West Texas Intermediate crude futures were up 34 cents, or 0.49%, at $69.31 a barrel. While Brent crude fell below $70 a barrel on Tuesday for…
Due to a rise in grain prices and a little lower base than the one for July, India’s retail inflation, as measured by the Consumer Price Index (CPI), crept up to 3.65% in August from 3.6% in July. Retail inflation decreased to 6.83% in August 2023 from 7.44% in July 2023. Due to a large…
Turmeric prices fell by 2.96% to ₹13,626, driven by increased sowing and dry weather in Indonesia. However, tighter market supplies and stockist buying interest limited the downside. Farmers held back stocks in anticipation of price rises. Low export demand and rising sowing acreage could contribute to further price declines. Sowing reports show doubled turmeric sowing…
