Oil prices fell slightly early Friday as concerns over oversupply and a stronger currency weighed on U.S. fuel stocks. Brent crude ended down 30 cents, or 0.41 percent, at $72.26 a barrel. U.S. West Texas Intermediate crude futures were down 25 cents, or 0.36 percent, at $68.45. WTI is expected to fall 2.7 percent for…
Tata Projects, the engineering, procurement, and construction (EPC) division of the Tata group, is predicting double-digit growth in the current fiscal year by placing bets on sustainability and electronics.With FY24 revenues of Rs 17,247 crore, the company made Rs 139 crore in profits last year. In FY25, its competitor L&T anticipates a 15% increase in…
According to data provided by the commerce ministry on Thursday, increases in the cost of essential foods and an unfavorable base caused India’s wholesale pricing index (WPI)–based inflation to reach a four-month high of 2.36% in October. WPI inflation in September 2023 was 1.84%, whereas in October 2023 it was (-)0.26%. October saw the biggest…
Due to healthy demand and lifting curbs on non-basmati rice, India’s agri exports are expected to reach USD 50 billion in 2024-25. Export curbs on rice, wheat, and sugar impacted agri exports by about USD 6-7 billion. However, removing rice curbs is expected to boost exports, with rice exports expected to reach 17-18 million tonnes…
Even as a rise in arrivals and muted demand put pressure on prices, short covering caused turmeric prices to rise by 0.65% to settle at 13,336. A considerable increase in production may result from the acreage being estimated to be 30–35% larger than the previous season. However, reports of crop damage from heavy rains limited…
By FY27, the IPO-bound NTPC Green Energy (NGEL) intends to invest Rs 1 lakh crore in new initiatives and capacity expansion in areas like green hydrogen and storage projects. Gurdeep Singh, chairman and managing director, stated on Wednesday that the company, which currently has an operating capacity of 3.3 gigawatts (GW), aims to quadruple that…
The Solvent Extractors’ Association (SEA) said that October saw a 60% month-over-month increase in India’s palm oil imports, reaching 845,682 metric tonnes, driven by festive demand and refilled supplies. This increase may put a strain on Malaysian and Indonesian palm oil supplies worldwide. Imports of sunflower oil increased 56.5%, while imports of soy oil decreased…
Kalpataru Projects Overseas Limited (KPIL) declared on Wednesday that it had obtained new orders of awards totaling Rs 2,273 crore, in conjunction with its overseas subsidiaries and joint ventures (JVs). The orders are for residential construction projects in India as well as the Transmission & Distribution (T&D) sector in India and international markets. Manish Mohnot,…
Silver rose 0.16% to 89,327 amid short covering after losses as the dollar index rose above 105.8, its highest level in more than four months. This forecast of high inflation could be contained by the Federal Reserve to cut interest rates and promote safe-haven assets like silver. The global structural deficit in the silver market…
The rupee’s ongoing depreciation is mainly due to a strengthening dollar and selling by foreign investors. As the currency continued to decline, it reached a fresh closing low of 84.40 against the US dollar. The rupee settled at 84.40 after ranging from a high of 84.38 to a low of 84.41 during the day. According…
