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Gold prices have been on a downward trend since the US presidential election, with December future contracts opening lower on MCX. The price of gold fell by 0.37% to Rs 76,369 per 10 grams, while silver prices also dropped by 0.24% to Rs 90,601 per kg. In the last two days, gold prices have plummeted by Rs 2,100 per 10 grams and silver prices by Rs 4,050 per kg.
According to the India Bullion and Jewellers Association Ltd (IBJA), the current prices for different carats of gold are a
Gold prices have been on a downward trend since the US presidential election, with December future contracts opening lower on MCX. The price of gold fell by 0.37% to Rs 76,369 per 10 grams, while silver prices also dropped by 0.24% to Rs 90,601 per kg. In the last two days, gold prices have plummeted by Rs 2,100 per 10 grams and silver prices by Rs 4,050 per kg.
According to the India Bullion and Jewellers Association Ltd (IBJA), the current prices for different carats of gold are a
Solar Energy Corporation of India Ltd. (SECI) has debarred Reliance Power Ltd. and its subsidiary Reliance NU BESS Ltd. (formerly Maharashtra Energy Generation Ltd.) from bidding in any future SECI tenders for the next three years. This decision comes after SECI discovered that the company had submitted fake bank guarantees during the bidding process for a 1 gigawatt solar power and 2 gigawatt battery energy storage system project.
The Incident: Fake Bank Guarantees in SECI Tender
Solar Energy Corporation of India Ltd. (SECI) has debarred Reliance Power Ltd. and its subsidiary Reliance NU BESS Ltd. (formerly Maharashtra Energy Generation Ltd.) from bidding in any future SECI tenders for the next three years. This decision comes after SECI discovered that the company had submitted fake bank guarantees during the bidding process for a 1 gigawatt solar power and 2 gigawatt battery energy storage system project.
The Incident: Fake Bank Guarantees in SECI Tender
On Wednesday, the Indian stock markets showed a strong upward movement, with the Nifty 50 closing 1.12% higher at 24,484.05 and the BSE Sensex ending 1.13% up at 80,378.13. The rally was largely fueled by a significant surge in information technology (IT) stocks, including Infosys Ltd., Tata Consultancy Services Ltd. (TCS), and other major players in the sector. The rally was
On Wednesday, the Indian stock markets showed a strong upward movement, with the Nifty 50 closing 1.12% higher at 24,484.05 and the BSE Sensex ending 1.13% up at 80,378.13. The rally was largely fueled by a significant surge in information technology (IT) stocks, including Infosys Ltd., Tata Consultancy Services Ltd. (TCS), and other major players in the sector. The rally was
Ola, the ride-hailing giant, has seen its valuation slashed by 72%, falling to around $2 billion from its peak of $7.3 billion in late 2021, according to Vanguard’s recent regulatory filings. The US-based asset manager now values its shares in ANI Technologies, Ola’s parent company, at $14.3 million, a steep drop from its initial $51 million investment. This markdown is an internal adjustment by Vanguard, reflecting Ola’s recent challenges, including high-level departures an
Ola, the ride-hailing giant, has seen its valuation slashed by 72%, falling to around $2 billion from its peak of $7.3 billion in late 2021, according to Vanguard’s recent regulatory filings. The US-based asset manager now values its shares in ANI Technologies, Ola’s parent company, at $14.3 million, a steep drop from its initial $51 million investment. This markdown is an internal adjustment by Vanguard, reflecting Ola’s recent challenges, including high-level departures an
On Monday, the Indian rupee weakened by 3 paise, closing at a record low of 84.11 against the US dollar, following a downward trend that has persisted for several weeks. Earlier in the day, the rupee touched an all-time low of 84.12 before making a slight recovery. The local currency had closed at 84.08 on the previous Friday, but it has been under continuous pressure from foreign institutional investors.
In recent weeks, these global funds have offloaded over Rs 1.25 lakh crore fro
On Monday, the Indian rupee weakened by 3 paise, closing at a record low of 84.11 against the US dollar, following a downward trend that has persisted for several weeks. Earlier in the day, the rupee touched an all-time low of 84.12 before making a slight recovery. The local currency had closed at 84.08 on the previous Friday, but it has been under continuous pressure from foreign institutional investors.
In recent weeks, these global funds have offloaded over Rs 1.25 lakh crore fro
Apple is planning to open four additional flagship stores in India, following a record-breaking quarter for iPhone sales. CEO Tim Cook highlighted the increasing enthusiasm for Apple products in the Indian market, which contributed to Apple's all-time high revenue from the country.
During Apple’s recent earnings call, Cook revealed that iPhone sales had grown across all regions, setting new records worldwide. India, however, stood out significantly, with Apple achieving re
Apple is planning to open four additional flagship stores in India, following a record-breaking quarter for iPhone sales. CEO Tim Cook highlighted the increasing enthusiasm for Apple products in the Indian market, which contributed to Apple's all-time high revenue from the country.
During Apple’s recent earnings call, Cook revealed that iPhone sales had grown across all regions, setting new records worldwide. India, however, stood out significantly, with Apple achieving re
Maruti Suzuki India Ltd. is actively addressing its inventory levels in response to slowing domestic sales, with Chairman RC Bhargava announcing plans to meet an internal target of maintaining a 30-day inventory by the end of November. This adjustment may lead to a shift in the company's production strategy, as Bhargava emphasized the importance of aligning production with dealer sales.
The company is now focusing on retail sales data rather than wholesale figures to better asse
Maruti Suzuki India Ltd. is actively addressing its inventory levels in response to slowing domestic sales, with Chairman RC Bhargava announcing plans to meet an internal target of maintaining a 30-day inventory by the end of November. This adjustment may lead to a shift in the company's production strategy, as Bhargava emphasized the importance of aligning production with dealer sales.
The company is now focusing on retail sales data rather than wholesale figures to better asse
Aegis Vopak Terminals Ltd. has announced that its board of directors has approved a proposal to raise ₹4,000 crore through an initial public offering (IPO) and an additional ₹800 crore via private placement. The IPO will consist of a fresh issue of equity shares, each with a face value of ₹10, as stated in the company's exchange filing.
The IPO is subject to regulatory approvals and market conditions, while the preferential issue will be conducted on a private placement ba
Aegis Vopak Terminals Ltd. has announced that its board of directors has approved a proposal to raise ₹4,000 crore through an initial public offering (IPO) and an additional ₹800 crore via private placement. The IPO will consist of a fresh issue of equity shares, each with a face value of ₹10, as stated in the company's exchange filing.
The IPO is subject to regulatory approvals and market conditions, while the preferential issue will be conducted on a private placement ba
At the NVIDIA AI Summit in Mumbai on October 24th, NVIDIA announced a strategic partnership with Reliance Industries to build India’s largest AI infrastructure. The collaboration will leverage NVIDIA’s powerful GB 200 supercomputer to establish scalable AI capabilities. With this move, Reliance aims to revolutionize the AI landscape in India, similar to how Jio transformed mobile data accessibility.
Following Jio’s data success, Mukesh Ambani is now focusing on AI
At the NVIDIA AI Summit in Mumbai on October 24th, NVIDIA announced a strategic partnership with Reliance Industries to build India’s largest AI infrastructure. The collaboration will leverage NVIDIA’s powerful GB 200 supercomputer to establish scalable AI capabilities. With this move, Reliance aims to revolutionize the AI landscape in India, similar to how Jio transformed mobile data accessibility.
Following Jio’s data success, Mukesh Ambani is now focusing on AI
With the festive season fast approaching, particularly the auspicious occasion of Dhanteras, gold and silver prices in India are showing notable fluctuations. As of Friday, gold is trading at ₹78,060 per 10 grams, according to the India Bullion and Jewellers Association Ltd (IBJA). This slight dip occurs as both metals hover near their all-time highs, spurred by traditional demand during this significant buying period.
Dhanteras and its Significance: Dhanteras mar
With the festive season fast approaching, particularly the auspicious occasion of Dhanteras, gold and silver prices in India are showing notable fluctuations. As of Friday, gold is trading at ₹78,060 per 10 grams, according to the India Bullion and Jewellers Association Ltd (IBJA). This slight dip occurs as both metals hover near their all-time highs, spurred by traditional demand during this significant buying period.
Dhanteras and its Significance: Dhanteras mar
BSNL, the state-owned telecommunications provider, has reported a significant increase in subscribers for the second consecutive month, defying industry trends as private telecom giants face user losses due to recent tariff hikes. According to the latest data from the Telecom Regulatory Authority of India (TRAI), India saw a net loss of 57.7 lakh mobile subscribers in August, a sharp increase from the 9.2 lakh lost in July.
BSNL added 25.3 lakh new users in August, building on a str
BSNL, the state-owned telecommunications provider, has reported a significant increase in subscribers for the second consecutive month, defying industry trends as private telecom giants face user losses due to recent tariff hikes. According to the latest data from the Telecom Regulatory Authority of India (TRAI), India saw a net loss of 57.7 lakh mobile subscribers in August, a sharp increase from the 9.2 lakh lost in July.
BSNL added 25.3 lakh new users in August, building on a str
MSTC Ltd. has officially signed a share purchase agreement with Konoike Transport Co. Ltd. for the strategic disinvestment of Ferro Scrap Nigam Ltd. (FSNL), marking a significant milestone in the privatization process. This agreement comes after the Indian government approved the sale to the Japanese corporation for Rs 320 crore, exceeding the reserve price of Rs 262 crore set by the government based on valuation assessments.
The announcement was made by the Secretary of the Departm
MSTC Ltd. has officially signed a share purchase agreement with Konoike Transport Co. Ltd. for the strategic disinvestment of Ferro Scrap Nigam Ltd. (FSNL), marking a significant milestone in the privatization process. This agreement comes after the Indian government approved the sale to the Japanese corporation for Rs 320 crore, exceeding the reserve price of Rs 262 crore set by the government based on valuation assessments.
The announcement was made by the Secretary of the Departm
In the latest quarterly earnings report, Hindustan Unilever has announced a 2% decrease in profit for the second quarter, raising concerns among investors and analysts about the company's performance amid challenging market conditions. This decline prompts a closer look at the underlying factors affecting the company's profitability and its future strategies to regain momentum.
On a brighter note, Thyrocare has reported a remarkable
In the latest quarterly earnings report, Hindustan Unilever has announced a 2% decrease in profit for the second quarter, raising concerns among investors and analysts about the company's performance amid challenging market conditions. This decline prompts a closer look at the underlying factors affecting the company's profitability and its future strategies to regain momentum.
On a brighter note, Thyrocare has reported a remarkable
Urban cities in India are grappling with significant challenges as muted demand and rising food inflation impact the market, according to Suresh Narayanan, CEO of Nestle India. Mega cities are particularly struggling, experiencing weak performance in key segments such as milk and nutrition, chocolate, and confectionery. Brands like Munch are facing heightened regional competition, which adds to the pressure on sales.
Narayanan revealed that Nestle India plans to implement further pr
Urban cities in India are grappling with significant challenges as muted demand and rising food inflation impact the market, according to Suresh Narayanan, CEO of Nestle India. Mega cities are particularly struggling, experiencing weak performance in key segments such as milk and nutrition, chocolate, and confectionery. Brands like Munch are facing heightened regional competition, which adds to the pressure on sales.
Narayanan revealed that Nestle India plans to implement further pr
World Summit 2024 in New Delhi, Prime Minister Narendra Modi asserted that India remains an appealing destination for global investors, even amid global trade and geopolitical tensions. He marked the first 125 days of his government’s third term as a period of accelerated growth, with positive indicators attracting investor attention.
During his keynote address, Modi pointed out that both the Nifty and Sensex indices have seen growth of 6-7% during this time. He also hig
World Summit 2024 in New Delhi, Prime Minister Narendra Modi asserted that India remains an appealing destination for global investors, even amid global trade and geopolitical tensions. He marked the first 125 days of his government’s third term as a period of accelerated growth, with positive indicators attracting investor attention.
During his keynote address, Modi pointed out that both the Nifty and Sensex indices have seen growth of 6-7% during this time. He also hig
The Reserve Bank of India (RBI) has taken a significant step by barring four non-banking financial companies (NBFCs) from sanctioning and disbursing loans starting October 21. The companies affected include Asirvad Micro Finance, Navi Finserv, Arohan Financial Services, and DMI Finance. This action comes in light of serious supervisory concerns related to high lending rates and non-compliance with regulatory standards.
In a press release, the RBI emphasized its ongoing commitment to
The Reserve Bank of India (RBI) has taken a significant step by barring four non-banking financial companies (NBFCs) from sanctioning and disbursing loans starting October 21. The companies affected include Asirvad Micro Finance, Navi Finserv, Arohan Financial Services, and DMI Finance. This action comes in light of serious supervisory concerns related to high lending rates and non-compliance with regulatory standards.
In a press release, the RBI emphasized its ongoing commitment to
Jamshyd Godrej, Chairman of the CII-Sorabji Green Business Centre, has expressed confidence that India can emulate the remarkable economic growth that China experienced in recent decades. Speaking exclusively on Wednesday, Godrej emphasized that achieving such growth rates, similar to China's average GDP growth of 9.91% from 1979 to 2010, is within India's reach. However, he stressed the need for enhanced coordination between Indian industries and the government in policymaking.
Jamshyd Godrej, Chairman of the CII-Sorabji Green Business Centre, has expressed confidence that India can emulate the remarkable economic growth that China experienced in recent decades. Speaking exclusively on Wednesday, Godrej emphasized that achieving such growth rates, similar to China's average GDP growth of 9.91% from 1979 to 2010, is within India's reach. However, he stressed the need for enhanced coordination between Indian industries and the government in policymaking.
The Indian government is reportedly unfazed by the escalating tensions with Canada, as indicated by sources within the Commerce Ministry. Officials emphasize that investments from Canada, particularly from public pension funds, are likely to persist, albeit through indirect channels. According to these sources, India remains an attractive market for investment, and funds will continue to flow, often routed via Singapore, Mauritius, or the Middle East.
In terms of trade, India and Ca
The Indian government is reportedly unfazed by the escalating tensions with Canada, as indicated by sources within the Commerce Ministry. Officials emphasize that investments from Canada, particularly from public pension funds, are likely to persist, albeit through indirect channels. According to these sources, India remains an attractive market for investment, and funds will continue to flow, often routed via Singapore, Mauritius, or the Middle East.
In terms of trade, India and Ca
India has formally raised its concerns regarding a significant increase in imports of silver products, platinum alloy, and dry dates from the United Arab Emirates (UAE). This plea was made during the second meeting of the joint committee under the India-UAE Comprehensive Economic Partnership Agreement (CEPA), held in the UAE on October 14. The Indian delegation, led by Additional Secretary in the Department of Commerce Ajay Bhadoo, urged the UAE to ensure that trade rules are not circumvented
India has formally raised its concerns regarding a significant increase in imports of silver products, platinum alloy, and dry dates from the United Arab Emirates (UAE). This plea was made during the second meeting of the joint committee under the India-UAE Comprehensive Economic Partnership Agreement (CEPA), held in the UAE on October 14. The Indian delegation, led by Additional Secretary in the Department of Commerce Ajay Bhadoo, urged the UAE to ensure that trade rules are not circumvented
India's wholesale inflation experienced a notable increase in September, driven largely by rising food prices, as reported by the Ministry of Commerce and Industry. The Wholesale Price Index (WPI) climbed by 1.84% compared to 1.31% in August on a year-on-year basis. This uptick in inflation comes amidst a broader context of economic fluctuations.
The inflation rate for manufactured products, which constitutes a significant portion of the index, saw a slower growth rate of 1% in
India's wholesale inflation experienced a notable increase in September, driven largely by rising food prices, as reported by the Ministry of Commerce and Industry. The Wholesale Price Index (WPI) climbed by 1.84% compared to 1.31% in August on a year-on-year basis. This uptick in inflation comes amidst a broader context of economic fluctuations.
The inflation rate for manufactured products, which constitutes a significant portion of the index, saw a slower growth rate of 1% in
