Hindustan Zinc Ltd. (HZL), which is owned by Vedanta, posted a consolidated net profit of Rs. 2,680 crores, up roughly 33% yoy. On account of increasing volumes of refined metal and silver, advantages from strategic hedging, higher zinc prices, and favorable exchange rates, operating revenue increased by Percent yoy to 8,336 crores. The CEO of…
Exports of textiles and apparel decreased by 8.5% in the first half of FY23 compared to the same period last year, significantly behind the 17.8% increase in merchandise exports as a whole. In H1FY23, textile and clothing exports totaled $18.3 billion, down from $20 billion in H1FY22, according to the most recent data from the…
Foreign exchange reserves decreased by $4.5 billion after barely increasing the week before. For the week ending October 14, according to information issued by the Reserve Bank of India, the reserves were $528.4 billion. Due to foreign currency assets and gold reserves, the reserves decreased. Since July 29, forex reserves have been falling, with the…
Considering that this asset class offers considerable diversification from conventional equities and debt investments, the custom of purchasing gold for Diwali appears to have been carefully considered. Gold is a haven in unstable economic times. Along with being a hedge against inflation, it can also provide some protection against rupee devaluation, which is particularly important…
Oil prices decreased on Wednesday as reports from the industry revealed that U.S. oil stockpiles increased more than anticipated, but losses were restrained by supply concerns. After closing 26 cents higher the day before, December Brent crude futures were down 72 cents, or 0.8%, at $92.80 a barrel. West Texas Intermediate (WTI) crude for the…
Under the strain of arrivals, soyabean and groundnut prices may decrease to the MSP (minimum support price) levels set by the Center by Diwali, according to Ajay Jhunjhunwala, President of Solvent Extractors’ Association of India (SEA).The circumstance, according to Jhunjhunwala in his letter to the SEA members, will have a negative effect on farmers and…
Due to the strong US dollar, high oil costs, and volatility in the financial markets, the Indian rupee is anticipated to open weak. It is anticipated that USDINR(Spot) will trade favorably and quote in the area of 82.50-83.20. In the previous session, despite the foreign dollar weakening, the rupee recovered from its all-time lows to…
As chickpea (chana) prices have mostly remained below the minimum support price (MSP) levels of 5,230 per quintal this year, farmers in central India are expected to migrate over to planting greater acreage under wheat. The most common price at which transactions are made for chana is currently between Rs. 4,000 and Rs. 4,500 per…
On Friday, the market began to weigh fears about high inflation as optimism about a potential increase in energy consumption in China faded. The price of Brent crude futures had dropped by 5 cents to $92.33 per barrel. The price of U.S. West Texas Intermediate futures increased by 7 cents to $84.58 per barrel. “With several…
As the Guatemalan crop floods the Gulf region at reduced rates, Indian cardamom is losing its flavour on the export market. This has made it easier for GCC nations to purchase more Guatemalan cardamom, which is now going for $5–12 a kg compared to $10–18 in India, depending on the grades. M. Dhanavandhan, a cardamom…
