Gold prices slipped on Wednesday as the dollar ticked up, while investors awaited a key U.S. inflation report due this week for more clarity on the size of a likely September rate cut. Spot gold fell 0.4% to $2,514.11 per ounce by 0313 GMT. Bullion hit a record high of $2,531.60 on Aug. 20. U.S. … Read more
The FIIs as per Thursday's data were net sellers in equity segment, while they were net buyers in debt segment, according to data released by the NSDL. In equity segment, the gross buying was of Rs 14905.02 crore against gross selling of Rs 15452.85 crore. Thus, FIIs stood as net sellers of Rs 547.83 crore … Read more
While India is already known as the 'pharmacy of the world', the country also has huge scope to enter the global value chain system to further boost exports of pharma products, said Sunil Barthwal, Secretary, Union Ministry of Commerce and Industry on Thursday. He said this during an interaction with pharma sector industry leaders at … Read more
India's equity benchmarks hit record highs on Thursday, boosted by heavyweight conglomerate Reliance Industries, which plans to step up the adoption of AI and issue bonus shares. The NSE Nifty 50 and the S&P BSE Sensex both rose about 0.6% to hit all-time highs, before trimming some gains to settle up 0.4% at record closing … Read more
Adroit Infotech is currently trading at Rs. 20.78, up by 0.42 points or 2.06% from its previous closing of Rs. 20.36 on the BSE. The scrip opened at Rs. 21.16 and has touched a high and low of Rs. 21.88 and Rs. 20.50 respectively. So far 54648 shares were traded on the counter. The BSE … Read more
Moody's raised India's growth projection for 2024 and 2025 citing signs of improving rural demand, while Fitch affirmed the country's sovereign credit rating, the agencies said in separate releases on Thursday. Moody's now expects India's economy to expand 7.2% in 2024 from 6.8% previously, while growth for 2025 is pegged at 6.6% versus 6.4%. "These … Read more
Indian rupee weakened against the US dollar on Wednesday, driven by a muted trend in domestic equities and firm American currency at overseas markets. Meanwhile, investors are remained cautious and await the release of key US inflation report later in the week, which might provide insights on size of a likely September rate cut. However, … Read more
Showing strong growth, the bilateral trade between India and the Gulf Cooperation Council (GCC) countries reached 162 billion dollars last year, the government has said. The GCC now contributes 15 per cent of India's total trade and sectors like energy, defence, security and health are growing in the region, according to Aseem P. Mahajan, Joint … Read more
Germany's conglomerate ZF Group is going to invest 2 billion euros (approximately Rs 18,750 crore) in the next six years to expand its business in India across various sectors including auto components, wind gearboxes, construction and agricultural machinery. With large investments, the company aims to increase its sales in India to 3 billion euros … Read more
The Union Government has enhanced its capital expenditure on infrastructure projects such as roads, railways and airports from Rs 1.97 lakh crore (1.6 per cent of GDP) in FY2014-15 to Rs 11.1 lakh crore (3.4 per cent of GDP) in FY2024-25, according to credit rating agency Moody's report. Consequently, India's infrastructure development has seen unprecedented … Read more
