The Indian rupee hits a fresh record low against the U.S. dollar on July 11 amid weakness in the domestic stock market and as concerns about global economic growth continued to support the safe-haven greenback. The partially convertible rupee was trading at 79.41 per dollar compared to its previous close of 79.25 on Friday. The unit had hit…
Gold prices remain unchanged on Saturday. 10 grams of 24-carat gold is currently trading at Rs 51,110, whereas, 10 grams of 22-carat gold is trading at Rs 46,850. Silver prices also remain unchanged with one kg of silver metal trading at Rs 57,000. A variety of factors, including manufacturing charges, state taxes, and excise duty, have…
Indian equity market regained the lost momentum and gains nearly 3 percent during the week ended July 8, tracking positive global cues, a good monsoon, reduced FIIs selling, and falling commodities prices. For the week gone by, BSE Sensex advanced 1,573.91 points (2.97%) closed at 54,481.84, while the Nifty 50 added 468.55 points (2.97%) settled at…
Tata Power, one of India’s largest power generation companies has lined up a capital expenditure of ₹75,000 crores for renewable energy over the next five years, Chairman, N Chandrasekaran said to shareholders at the company’s 103rd annual general meeting. The focus on the renewable energy sector has led to steady growth of India’s renewable energy…
Production of soyabean is in full swing in the key growing areas of central India with the monsoon picking up in the region. As per the latest production figures released by the Soyabean Processors Association of India (SOPA), the oilseed has been cultivated on over 70 lakh hectares (lh) across the country. With brisk production…
In the first quarter of FY23, as many as 72,474 EVs were registered in the country in June, according to the data available on the Vahan portal. This is a 547% jump, compared to the June 2021 figures. In fact, the first quarter of the current fiscal (Q1 FY23) saw the most number of Electrical…
Edible oil prices may decrease in the domestic market soon, helping to cool food inflation and lessen the pressure on household budgets. Following an order from the food ministry to cut prices by Rs 10-12/liter in view of the decline in global prices and the recent import tax cuts, major producers, including Adani Wilmar and…
India’s mobile imports decreased 33 percent year-on-year in FY22, according to a research report by credit rating company Crisil. Dependency on China reduced to 60 percent from 64 percent in FY21 and is expected to fall more in the medium-term. Crisil estimates that Indian consumption will reach ₹3.5 lakh crore to ₹4 lakh crore in…
Gold price fell on Tuesday pressured by rate hike expectations and a stronger dollar, but growing recession fears kept haven bullion above the key support level of $1,800 an ounce. Spot gold was down 0.4% to $1,801.20 per ounce, while U.S. gold futures were little changed at $1,800.80. The dollar is strong near two decade…
India’s coffee output for the new 2022-23 crop year, starting October is heading for a new record provided the weather supports the crop for the rest of the calendar year. The Coffee Board, in its early production estimates also known as post-blossom estimates, has pegged the 2022-23 crop at 3.93 lakh tonnes on favorable weather…
