Three of India’s most industrialised States (Tamil Nadu, Maharashtra, Gujarat) plan to import 10.5 million tonnes (mt) of coal in the coming months as officials scramble to stop power cuts, a move that could force international coal prices to new highs. Maharashtra plans to import 8 mt for “merging purposes”, while Gujarat will place orders…
The National Commodity and Derivatives Exchange has reported a 47% increase in average daily turnover at ₹1,857 crore in the financial year ended March 2022 against ₹1,261 crore reported in the last year. This was mostly driven by hike in agriculture commodity prices last year due to supply chain disruptions. The growth was despite suspension…
The Indian rupee USD/INR opened slightly higher at 76.26 and moved towards 76.36 against the US dollar on Thursday morning, after that the rupee fallen towards 76.06. As the session started, the domestic currency down amid U.S. dollar strengthening in the international market on coming aggressive interest rate hike by the U.S. Fed in the upcoming months…
Hero electric declared that it has partnered with electric vehicle charging(EV) Infrastructure provider Bolt to set up 50,000 charging stations all over India in next 12 months. The electric two wheeler manufacturer saying that the move will benefit it’s more than 450,000 customers. Under the partnership Bolt charging points will also be installed at over…
The Central government begun purchasing onions from Maharashtra, Gujarat and Madhya Pradesh to create a barrier stock to tackle any rise in prices latest during the year through the National Agricultural Cooperative Marketing Federation(NAFED). NAFED has set a target of purchasing around 250,000 tonnes in this year, the bulk of which will be purchased from…
The Union Government has agreed to buy 40.20 lakh tonnes of rice from the rabi season, from Telangana. What the Centre is buying is the raw rice or fortified rice and not parboiled rice, which the State has been selling for over 40 years. Though it is less than about 46 lakh tonnes of parboiled…
Crude oil prices down by 5% in volatile trading on Tuesday as investors weighed demand concerns against tight international supplies after Libya halted some exports and as factories in Shanghai prepared to reopen following a Covid-19 shutdown. Growing fears of a U.S. recession as the Federal Reserve tries to beat inflation with some of the…
Inflation based on Wholesale Price Index (WPI) increased to a four month high of 14.55 % in March, mirroring a broad-based spike in global commodity prices, especially oil in the wake of the Russia-Ukraine crisis, showed official data released on Monday. There was some softening in food articles month-on-month led by vegetables and pulses, though…
Sugar mills across the country have produced 329.91 lakh tonnes of sugar till April 15, which is higher than 291.82 lakh tonnes produced in past year, said, the Indian Sugar Mills Association (ISMA). Compared with 170 mills that were crushing sugarcane in April last year, This year it was increased up to 305 mills for…
Hinduja group flagship Ashok Leyland has signed an agreement with Mahindra First Choice Wheels (MFCW), a leading player in the used vehicle segment, to launch an exclusive hybrid ecosystem for it’s used Commercial Vehicle (CV) business. This Phygital platform will facilitate exchange, proper disposal and purchase of old Commercial Vehicles. With an entry into this…
