Despite signs of a big gain in US stocks, oil prices were steady in Asian trade on Wednesday as traders awaited any escalation in the crisis between Russia and Ukraine. Oil prices have seen a modest increase this week as the conflict between Russia and Ukraine has escalated, particularly after Moscow threatened to use nuclear…
As the US President stoked expectations of a corporate tax rate cut and the ensuing rise in corporations’ discretionary spending and IT budget, Indian IT majors are expected to see mid-to high-single-digit growth over the coming quarters, indicating a slower-than-expected recovery, according to brokerage firm CLSA. The brokerage adopted a cautiously optimistic outlook due to…
India’s installed renewable energy capacity is expected to reach 250 GW by March 2026, up from 201 GW as of September 2021, according to credit ratings ICRA. The increase is driven by a large project pipeline of over 80 GW, which improved tendering activity in FY24. The current fiscal has high tendering activity, in line…
Because the Reserve Bank of India (RBI) is expected to intervene, market participants anticipate a slight devaluation of the rupee, which will prevent the FX market from experiencing extreme volatility. By the end of December, the rupee should be trading around 84.50 to the US dollar. Tuesday saw it fall to a new low of…
Research by CRISIL Ratings predicted that tire manufacturers will report revenue growth of 7-8 percent this fiscal year, driven by a 3-4 percent increase in both volume and realizations. For the second consecutive year, sales will grow in the single digits (albeit it will be nearly double that of the previous fiscal year), following a…
Gold prices fell from a one-week high above $2,620 as global concerns fueled safe-haven demand, but expectations for a faster Fed rate cut and limited gains in US Treasuries eased. Also, be very cautious about broader risk-on sentiment, strong US dollar performance, optimistic wages. Technical indicators point to hard resistance near $2,634-$2,635, with downside risks…
The Nifty 50 firms’ earnings have been cut down by 7% over the last six months after a poor showing in the September quarter. As a result, the predicted earnings growth for FY25 has been reduced to just 5%, the lowest level since FY20. India Inc.’s operational earnings grew at the slowest rate in at…
India’s rice procurement deficit has decreased to 11% from 20% in November, thanks to a 5.44% increase in purchases. The total procurement reached 148.93 lakh tonnes, with Punjab and Haryana being the largest contributors. Uttar Pradesh saw a 32% rise in rice purchases, while Tamil Nadu and Telangana experienced declines. The government has raised its…
The largest lender in the nation, State Bank of India Ltd. (SBI), said that it issued its eighth infrastructure bond on November 18th, raising Rs 10,000 crore at a coupon rate of 7.23%. “The issue attracted an overwhelming response from investors with bids above Rs 11,500 crore and was oversubscribed more than 2 times as…
The Reserve Bank of India (RBI) reported on Friday that India’s foreign exchange reserves fell by $6.78 billion to $675.65 billion for the week ending November 8. Following its peak of $704.89 billion at the end of September, the foreign exchange basket has declined for several weeks. Over the last six weeks, their total decline…
