According to a CRISIL Ratings report, India’s cement manufacturers are anticipated to invest around Rs 1,25,000 crore in capital expenditure (capex) during the fiscal years 2025–2027. It also stated that the pursuit of market share and a positive prognosis for demand will be the driving forces behind this. The projected expenditure will be 1.8 times…
Cotton prices rose by 0.26% to ₹57,200 due to concerns over reduced acreage in the Kharif cropping season. The Cotton Association of India reported a 9% decrease in cotton acreage, which is expected to be around 113 lakh hectares this year. This decline is primarily due to lower yields and high production costs. India’s cotton…
Zinc prices rose by 0.89% at 266.95 due to improved demand in China and a weakening dollar, along with expectations of an imminent US interest rate cut. The decrease in zinc inventories in warehouses and higher energy costs, which account for a significant portion of zinc production expenses, also supported prices. Positive economic signals from…
In the context of the Navi Mumbai Airport Influence Notified Area (NAINA) Project in Maharashtra, Larsen and Toubro (L&T) stated on Wednesday that its Transportation Infrastructure company had obtained a sizable order for the Integrated Infrastructure Development project in Town Planning Schemes 2 to 7. The project was given the go-ahead by City and Industrial…
Data from the National Securities Depository (NSDL) shows that in the first half of August, foreign portfolio investors (FPIs) sold shares worth $1.76 billion of financial services businesses, marking the largest outflow from the industry since January. With $2.24 billion in total sales, the financial services industry accounted for over 78% of all net outflows…
As the prospect of lower U.S. interest rates hurt the dollar and encouraged more flows into the yellow metal, gold prices steadied in Asian trade on Wednesday after reaching record highs this week. Both spot and December-expiring gold futures saw 0.1% and 0.1% increases, respectively, to $2,515.44 and $2,553.35 an ounce. At $2,531.72 an ounce…
Oil prices fell on Wednesday following a trip by mediators to the Middle East, growing US crude supplies and hopes that tensions were easing. Brent crude futures were down 9 cents, or 0.1%, at $77.11 a barrel. U.S. West Texas Intermediate crude was down 12 cents, or 0.2%, a barrel. U.S. crude stocks were forecast…
Manufacturer of steel tubes and pipes Hi-Tech Pipes received an order for ERW steel pipes worth Rs 105 crores from clients in the renewable energy industry. The company claims that within the next three months, its newly constructed, state-of-the-art facility in Sanand, Gujarat, with its enhanced technology, would help meet this demand. Solar power plants,…
During the week ending August 16, the Indian rupee saw little change, finishing at 83.95 with little variation. There was modest support for the rupee due to the US recession fears abating, carry trade unwinding slowing down, and oil prices easing. Pressure was applied, though, in part because of a larger trade imbalance in July…
With Israel accepting a plan to address the issues preventing a ceasefire agreement in Gaza, concerns over a disruption in Middle Eastern oil supplies were allayed, and oil prices inched down on Tuesday. At $77.54, Brent crude dropped 12 cents, or $2.02, or 0.15%. Tuesday’s front-month U.S. West Texas Intermediate oil futures were down 14…
