The government’s wheat acquirement in the current year may be less than half the level last year, as market prices stand above the Minimum Support Price (MSP) allotted by the government. Procurement of the grain by the Food Corporation of India (FCI) and other government agencies at the MSP stood at 17.59 million tonne (mt)…
Foreign Portfolio Investors (FPIs) cut out over ₹20,000 crore from financial services and information technology (IT) sectors in last month, as they continued their selling of Indian equity shares for the seventh straight month. According to latest data, the financial services sector saw a net out flow of ₹12,891 crore in April while the IT…
The Indian rupee fell to a fresh all-time low of 77.43 against the U.S. dollar on Monday as raised crude oil prices, inflation fears, interest rate hikes and weak domestic equities weighed on investor sentiments. Risk aversion in international markets, dollar strength reduced demand for riskier assets, pull the local unit lower. The rupee decreased as much…
With Russian aggression showing no signs of dropping, IT companies in Ukraine are focusing at India to set up Off shore Development Centres (ODCs). “In the last one month, we got nearly 70 inquiries from IT companies based in Ukraine to look at the possibility of setting up Off shore Development Centres in India,” said…
For the week, the Nifty fallen 691.25 points (4.04 percent) to closed at 16,411.3, while Bank Nifty fallen 1495 points (4.14 percent) closed at 34591. the BSE Sensex down 2,225.29 points (3.89 percent) to closed at 54,835.58. Indian market decreased 4 percent in the week ended May 6 after a surprise rate hike by the…
The rupee was down on Friday by the U.S dollar earning strength globally and the sustained greenback purchases by foreign investors, who continued to sell the shares in the Indian equity market in the wake of the U.S. Fed rate hike. The Indian unit decreased about 66 paise to close at 76.9150 per dollar against…
Tata Motors, India’s biggest commercial vehicle manufacturer, on Thursday launched a battery electric version of its popular mini truck Ace which it plan to launch commercially next quarter. The launch would mark Tata Motor’s charge into the electric cargo segment of commercial vehicles. The company also signed an MoU with various e-commerce and logistics companies…
Across the country the sugar mills have produced 342.37 lakh tonnes (lt) of sugar between October 1, 2021, and April 30, 2022. This is about 42 lt or 14% higher than 300.29 lt produced during the same period past season. The Indian Sugar Mills Association (ISMA) has estimated that during the this season, the industry…
Gold prices down on Friday in global markets and looked set to fall for a third straight week, weighed down by a robust dollar and rising yields, while investors await the U.S. jobs report to evaluate its impact on monetary policy. Spot gold fell 0.4% to $1,869.26 per ounce, while U.S. gold futures down by…
Burning heat wave conditions in many North Indian consuming markets has taken a charge on pepper demand with its prices remaining steady for the past 23 weeks with marginal changes. Prices of clean varieties are now ruling at ₹515-520 per kg, while that of distorted varieties at ₹535-540. Traders pointed out that the demand was…
