Oil prices edged higher in Asian trade on Friday and headed for a positive week as lingering concerns over worsening Middle East conflicts largely kept the risk premium in play. Brent oil futures for December delivery rose 0.4% to $74.70 a barrel, while West Texas Intermediate crude futures rose 0.5% to $70.55 a barrel. Brent…
Adani Wilmar declared a profit of Rs 311.02 crore for the fiscal second quarter on Thursday, compared to a loss of Rs 130.73 crore for the same period in FY24. It reported operating income of Rs 14,460.45 crore, a 17.9% increase over Rs 12,267.15 crore in the same period of the previous fiscal year. EBITDA…
Cotton candy prices fell by 0.61% to 56,920 due to weak yarn market demand and payment constraints. The USDA reduced India’s cotton production forecast for the 2024-25 season to 30.72 million bales, with ending stocks lowered to 12.38 million bales due to crop damage. Global cotton production estimates have been raised by over 200,000 bales,…
With 82 firms raising an astounding Rs 1.08 trillion, Samvat 2080 has become a huge year for the Indian primary market. Given that several initial public offerings (IPOs) are still available for subscription before the year ends, this number is expected to rise. Leading the surge was Hyundai Motors, a South Korean manufacturer that made…
Oil prices rose sharply in Asian trade on Thursday, after Israel toughened its rhetoric against Iran, with attention focused on business activity data from several major economies in the coming days. Crude suffered two weeks of heavy losses amid concerns over falling demand. Prices also fell on Wednesday after US inventory data showed a larger-than-expected…
Following the release of steady Q2 earnings data, Bajaj Finance shares increased 6.1% to an intraday high of Rs 7,088. Bajaj Finance was also the biggest gainer in the Nifty 50. As of right now, the stock is 10% below its 52-week peak of Rs 7,884.90, which it simultaneously reached on October 23, 2023. The…
Aluminium prices rose by 0.91% to 239.55, driven by higher production costs and record-high alumina prices. China, the world’s largest aluminium producer, cut its benchmark lending rates as part of stimulus measures to revive its slowing economy. Global primary aluminium output rose 1.3% year-on-year in September to 6.007 million tonnes, while China’s aluminium production increased…
India’s cotton production is expected to decline by 7% to 302 lakh bales in 2024-25. The Cotton Association of India (CAI) attributed the decline to a change in crop preferences in key regions such as Gujarat and Maharashtra. The decline is due to a significant reduction in cultivated area as farmers in key cotton-growing regions…
On October 22, the Nifty fell below 24,500 due to a combination of dismal sectoral performance, extended selling in the wider markets, and unfavorable global indications. In closing, the Nifty was down 309.00 points, or 1.25 percent, at 24,472.10, while the Sensex was down 930.55 points, or 1.15 percent, at 80,220.72. The BSE Smallcap index…
On Tuesday, Ambuja Cements, which Adani controls, declared that it has finalized a deal to buy Orient Cement Ltd (OCL) for an equity worth Rs 8,100 crore. According to the company, Ambuja will purchase 46.8% of OCL’s shares from its present proprietors and some public shareholders. Internal accruals will entirely finance the transaction. For Rs…
