Indian cotton prices reached a seasonal low of ₹53,000 per candy due to weak demand and declining cottonseed prices. However, prices have shown signs of recovery, with support from the Cotton Corporation of India’s (CCI) MSP-based purchases. Raw cotton prices remain below the MSP, and cottonseed prices have dropped due to weaker demand. Daily cotton…
The Bank of India intends to issue infrastructure bonds for Rs 5,000 crore the following week. Sources claim that the 10-year infrastructure bonds will have a base amount of Rs 2,000 crore and a greenshoe option of Rs 3,000 crore. The bank board had approved raising Rs 10,000 crore for infrastructure projects in 2024–2025 through…
At the current climate conference (COP29) in Baku, Azerbaijan, Tata Power said Thursday that it has signed a memorandum of understanding (MoU) with the Asian Development Bank (ADB) to assess funding for its various projects. Almost $4.25 billion is the anticipated overall cost of the project. The MoU describes funding assessment for several significant ongoing…
Natural gas prices rose 3.81% to ₹278.2 in November, while US gas production averaged 100.7 billion cubic feet per day (bcfd), down from 101.3 bcfd in October and well below the record of 105.3 bcfd set in December 2023. In 2024, for the first time since 2020, demand is expected to reach a record high…
Copper prices rose by 0.81% to settle at ₹824.45, driven by supply concerns and stronger demand signals. Peru, the world’s second-largest copper producer, reported a 1.2% decline in September production and revised 2024 output expectations to 2.8 million tons. The global refined copper market showed a deficit of 131,000 metric tons in September, compared to…
Soybean procurement under the Price Support Scheme (PSS) has been significantly lower, accounting for only 2.6% of the sanctioned 32.24 lakh tonnes (LT) as on November 18. Market prices are lower than the Minimum Support Price (MSP), reducing farmers’ incomes. Soybean procurement, as mentioned above, has been marginally slower, reaching only 2.6% of the sanctioned…
Aluminium prices rose by 0.27% to ₹244.25, driven by supply constraints from major producers and changes in China’s export-related policies. China plans to end tax rebates on semi-manufactured aluminium exports from December, potentially removing five million tonnes from the global market. Bauxite prices surged to near-record highs, with Chinese smelters facing their lowest ore inventory…
According to data from the Petroleum Planning and Analysis Cell, due to increased consumption, especially by the city gas distribution companies and the power sector, India’s natural gas import bill increased by 17% to $8.9 billion during the first seven months of the current fiscal year from $7.6 billion during the same period last year….
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…
