The reduction in petrol prices on account of excise duty cut by the Central government is expected to provide a much needed break for the two wheeler segment. While the rural economy is showing signs of improvement, petrol price reduction, along with the opening up of schools and colleges, should forecaster well for two wheeler…
The Solvent Extractors Association (SEA) of India expects that the soyabean crop is likely to be lower at 10 million tonnes (mt) against the government’s estimate of 13.83 mt during the current season to June. The Union Ministry of Agriculture and Farmers Welfare’s third advance estimate for major crops had estimated the oil seeds output…
Oil prices are up in early trade on Monday with U.S. fuel demand, tight supply and a slightly weaker U.S. dollar supporting the market, as Shanghai ready to reopen after a two-month lockdown fuelled worries about a sharp slowdown in growth. Brent crude futures raised 82 cents to $113.37 a barrel, while U.S. West Texas…
The rupee increased 4 paise to 77.66 against the U.S. dollar in the early trade on Monday as a positive trend in domestic equities and weak American currency overseas supported the local unit. However, unrestricted foreign fund outflows and increasing crude prices in the global markets restricted the rupee’s gain, forex dealers said. Moreover, U.S….
As per the new order, an export duty of 15% will be imposed on hot-rolled and cold-rolled alloy and non-alloy flat steel products (of 600 mm or more width). Also, a 15% duty will be imposed on exports of hot-rolled bars and rods, other bars and rods of iron or non-alloy steel, flat-rolled products of…
Retail inflation based on the Consumer Price Index (CPI) increased to near 8-year high in April to 7.79%. The previous high was noted in May 2014, when retail inflation rate touched 8.33%. The continuous fuel price hike likely had a climbing effect on the final price of various products. Also, increasing global prices of commodities…
The National Commodities and Derivatives Exchange (NCDEX), the country’s biggest agriculture commodity exchange, is contracting a major comeback with plans to launch futures trading in Coffee and PVC (polyvinyl chloride). This is part of its plan to launch new contracts in commodities that are not price sensitive. The exchange is also planning to initiate Liquidity…
Oil bounce back on Wednesday after jumping nearly 10% over the previous two sessions, encouraged by supply concerns as the European Union works on gaining support for a stop on Russian oil and as major manufacturers warned they may suffer to fill the gap when demand increases. Oil prices have slipped with commodities and share…
The rupee decreased 30 paise to 77.55 against the U.S. dollar in opening trade on Thursday as a dark trend in the domestic equity markets and a solid American currency weighed on investor sentiment. Apart from, persistent foreign fund outflows and raised crude oil prices impacted the domestic unit, Forex traders said. The dollar index,…
India’s imports from Russia witnessed a more than three times jump to $4.67 billion compared to last year since the Ukraine conflict began on February. The rush in shipments from Russia is thanks to New Delhi’s efforts to hit good deals with Russian suppliers to tide over a expanding shortfall of crude oil and other…
