On Friday, the Indian rupee is anticipated to trade range-bound due to caution in the equities markets and the strength of the US dollar. The USDINR pair is predicted by analysts to trade sideways today and quote between 80.50 and 81.5. The US jobless claims, housing starts, construction permits, and Philadelphia Fed Manufacturing Index data…
By the end of September 2022, creditors, mainly banks and financial institutions, had received 2.43 billion rupees under resolution plans approved by the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code (IBC). This is in contrast to the total amount of claims made by creditors, which total $7.91 lakh crore and have…
India recorded a surge of almost 38% in total oil meal exports from April through October of FY23 thanks to a more than 100% increase in the export of rapeseed meals. The country exported 19.84 lakh tonnes (lt) of oil meals between April and October of 2022–23, compared to 14.33 lt during the same period…
Despite the fact that aluminium prices are currently close to three-month highs, economists predict that they will remain muted at least through the end of the first quarter of 2022 due to weak Chinese growth and global demand. The price of the metal is currently $2,425 per tonne for three-month contracts on the London Metal…
The government-run Coal India anticipates selling about 50 million tonnes through its online marketplace this fiscal year. During the first half, the coal miner had sold about 30 million tonnes via the e-auction site. “We have already completed 30 metres in two quarters. Another 50 mt ought to be there in the third and fourth…
The government decreased the windfall tax on diesel exports on Wednesday while raising it on domestically produced crude oil. According to a government statement, the tax on crude oil produced by local companies, such as the state-owned Oil and Natural Gas Corporation (ONGC), was increased from Rs 9,500 per tonne to Rs 10,200 per tonne…
Indian sugar mills will break their export promises, raw sugar prices in the international market reached a high of 20 US cents per pound on Tuesday night. On Wednesday, it fluctuated, falling below the 20 cent threshold before rising again. Contracts are the result of the worldwide market’s response to exporters’ guarantees that there won’t…
In the current oil year 2022–23, which begins in October, soybean crushing in the nation is anticipated to climb by roughly a fifth to 100 lakh tonnes (lt), compared to 84 lt in the previous season, due to greater availability of the oilseed due to higher output and carryover stockpiles. The Soyabean Oil Processors Association…
India’s export of goods dropped for the first time this fiscal year in October 2022, dropping 16.6% to $29.78 billion (year over year). Shipments of the most of major goods, including petroleum, gems and jewelry, engineering equipment, chemicals, textiles, and medicines, suffered. According to initial estimates issued by the commerce and industry ministry for October…
The Indian rupee lost 66 paise to 81.57 against the U.S. dollar in early trade, following the American dollar’s rise in the international market and a flat domestic equity market. On the strength of encouraging domestic macroeconomic data and falling crude oil prices, the rupee strengthened versus the U.S.dollar in the previous session. The local…
