The Middle East crisis continues to boil and the ripples have triggered an operational stress for India’s food services sector. As LPG supply flows are disrupted amid the Strait of Hormuz transit issues, industry voices have warned of layoffs, salary cuts and widespread business impact if the situation drags on. Despite assurances from the government…
NEW DELHI: Exporters on Monday sought a moratorium on loan repayment for six months, along with higher credit limits and longer tenure, amid indications that govt and RBI are working on a package to help offset the impact of the West Asia conflict, which may take a toll on exports during March.During a meeting with…
MUMBAI: Short covering, especially during the closing hours of Monday’s session, led to a smart reversal in sensex, which closed 939 points up at 75,503 points. The development came despite strong selling by foreign funds that offloaded shares worth Rs 9,366 crore, the second-highest singlesession net outflow figure so far this year.After days of sharp…
Oil prices extended their gains as the Middle East conflict intensifies and Strait of Hormuz continues to see disruption, fueling fears of supply disruptions in global markets. On Tuesday, Brent crude futures rose by $2.48, or 2.5%, to $102.69 per barrel at 0058 GMT, while US West Texas Intermediate (WTI) crude advanced by $2.42, or…
Indian IT stocks had already experienced a notable drop earlier this year. (AI image) Indian IT shares tank! Shares of Indian IT companies dropped by as much as 6% on Tuesday after fresh artificial intelligence announcements from global chipmaker Nvidia, which reignited concerns about AI-driven disruption in the technology services sector. Investor caution also remained…
Gold price prediction today: Gold prices will continue to take cues from crude oil prices, says Praveen Singh, Head Currencies and Commodities, Mirae Asset ShareKhan. Source link
MUMBAI: Ahead of the onset of peak summers, a brisk business season for consumer durables companies, some air conditioner makers are feeling the heat of the West Asia conflict as restricted supplies of LPG and shortage of petrochemicals are beginning to hit production, industry executives said.LPG is used in processes such as brazing of copper…
MUMBAI: The rupee closed at 92.42/$, four paise firmer than 92.46, yet close to last week’s 92.48 record low. Losses stayed capped amid likely RBI support via state-run banks. Gulf tensions kept oil prices high, while US efforts to rally allies to secure Hormuz shipping lanes have made little headway. Brent crude rose over 1%…
MUMBAI: Shares of IDBI Bank fell as much as 16.5% on Monday to Rs 77. The decline wiped out over Rs 16,000 crore in market capitalisation after reports said govt may shelve bids for a majority stake in the lender because offers were below its minimum price expectations. Govt has been attempting to sell its…
NEW DELHI: Amid lobbying by car companies, govt may end up deferring the implementation of Corporate Average Fuel Efficiency norms (CAFE 3.0) beyond April 2027. The PM’s Office has held two meetings during the last three weeks and more deliberations on the issue are planned to work out a formula that is acceptable to industry…
