On Tuesday, when the US dollar declined from its high levels, the rupee bounced back from its record low levels and ended the day 19 paise higher at 82.94 (provisional).In line with a weakening US dollar, according to forex traders, the rupee strengthened. Foreign investors’ push to sell their investments amid risk aversion on international…
On Tuesday, Patel Engineering said that it has secured a project for Rs 1,275.30 crore in a joint venture with Madhya Pradesh Jal Nigam, a government undertaking. The contract’s scope includes everything needed to complete the Narmada-Gambhir, District Ujjain, and Indore Multi-Village Drinking Water Supply Scheme in one package on a “Turn-key Job Basis,” including…
The price of natural gas yesterday increased by 3.02% to 218.6 due to predictions that the weather would continue to be hotter than usual until early September, which will keep air conditioning demand high, particularly in Texas. Even though it was anticipated that demand would decline over the following two weeks, that price rise still…
Cotton candy yesterday decreased -0.23% to settle at 59840 as economic worries over the natural fiber’s major consumer, China, cast a shadow over demand projections. The next season (October 2023–September 2024) will likely see a 3% reduction in global cotton production, but consumption may remain unchanged, and ending inventories may be lower. The Cotton Association…
Amidst a strong dollar, an increase in US Treasury yields, and risk aversion in the global markets, the rupee declined sharply in the previous week, breaking through the significant resistance level of 83.00. The US economy was shown to be resilient by a deluge of strong economic data, which gave the dollar and yields a…
According to a projection, a large increase in domestic travel and foreign arrivals will lead the Indian hotel industry’s direct contribution to the GDP to reach USD 1 trillion by 2047. The Hotel Association of India (HAI) and Benori Knowledge released a report titled “Vision 2047: Indian Hotel Industry” that estimates the direct GDP contribution…
The price of crude oil yesterday increased by 1.08% to settle at 6726 on signs of tightening global supply, but the increase was restrained by China’s slowing economy and worries about additional U.S. interest rate increases. Unexpected rate cuts by the central bank failed to calm the market as fears about the country’s struggling economy…
When compared to the current season (October 2023–September 2024), global cotton production is expected to decline by 3%, while consumption may remain flat and ending inventories may be lower. Cotton candy closed yesterday at 59980, up 0.1%. Concerns about a slowdown in China, the world’s biggest buyer, limit upside potential. According to the Cotton Association…
Early on Friday, as the US dollar fell from its high levels, the Indian rupee rebounded from record lows and strengthened by 7 paise to 83.02 against the greenback. However, a sluggish trend in domestic equities, outflows of foreign funds, and rising crude oil prices hurt the domestic unit, according to currency dealers. The local…
One of the top gainers on the Nifty Midcap 50 Index on August 17 was Bata India, which concluded Thursday’s trading up 6% at Rs 1,739. The company’s probable cooperation talks with Adidas, a different industry powerhouse, to strengthen its position in the Indian market, are the source of the market rumor. The formal confirmation…
