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14 Jun

Rupee downturn 56 paise to 86.08 against US dollar

Business CorrespondentBusiness, News

Mumbai, June 14 The rupee fell 56 paise to 86.08 against the US dollar in early trade on Friday as global oil prices rose and the dollar strengthened amid escalating tensions in the Middle East following Israel's fresh attack on Iran's nuclear sites. Forex traders said a weak start in domestic equity markets and heavy FII outflows contributed to the fall in the local unit. At the interbank foreign exchange market, the local unit opened at 86.25 against the dollar and then eased to 86.08, down 56 paise from its previous close. The rupee had closed at 85.52 on Thursday.…

13 Jun

Paytm shares fall 10% amid massive sell-off; know why the stock plunged

Business CorrespondentBusiness, News

Shares of One97 Communications, the parent company of payment solutions provider Paytm, fell 10% on the National Stock Exchange and hit an intraday low of Rs 864.40. Shares of Paytm fell 9.97% on the BSE and hit an intraday low of Rs 864.20. This sharp fall in Paytm shares came after the Finance Ministry dismissed speculations of the implementation of Merchant Discount Rate (MDR) on Unified Payments Interface (UPI) transactions. The Finance Ministry said in a post on social media on Wednesday, "Speculations and claims of imposition of MDR on UPI transactions are completely false, baseless and misleading. Such baseless…

12 Jun

Aluminium futures prices increase marginally

Business CorrespondentBusiness, News

New Delhi, June 12: Aluminium prices on Thursday rose marginally by 45 paise to Rs 243.45 per kg in futures trade as speculators created fresh positions amid positive trend in the spot market. Aluminium contracts for July delivery rose by 45 paise, or 0.19 percent, to Rs 243.45 per kg on the Multi Commodity Exchange in a business turnover of 1,166 lots. Analysts said fresh positions created by traders amid demand from consumer industries supported aluminium prices in the futures market.

11 Jun

Gold futures prices inflation due to spot demand

Business CorrespondentBusiness, News

New Delhi, June 11: Gold prices rose by Rs 154 to Rs 97,056 per 10 grams in futures trade on Wednesday as speculators created fresh deals due to strong spot demand. On the Multi Commodity Exchange, the price of gold contracts for August delivery rose by Rs 154, or 0.16 percent, to Rs 97,056 per 10 grams in a business turnover of 13,323 lots. Analysts said fresh buying by participants led to the rise in gold prices. Globally, gold futures rose 0.49 percent to $3,359.90 an ounce in New York.

10 Jun

Two-wheeler sales to upsurge 8-9% in FY26

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Mumbai, June 10 Domestic two-wheeler sales are expected to grow 8-9 percent this fiscal, surpassing pre-Covid-19 levels, a report said on Monday. This includes several other factors including moderating inflation and the possibility of a favourable monsoon.The CareEdge Ratings report also mentioned that the domestic two-wheeler industry has maintained a healthy growth of 8 percent, 10 percent and 11 percent in FY23, FY24 and FY25, respectively.Sales growth in FY25 was supported by a 21 percent export recovery and a 9 percent growth in domestic sales. It said the improvement in exports was led by stability in key markets impacted by…

09 Jun

Maharashtra and Karnataka drive FDI jump with 51% share in FY25

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Maharashtra and Karnataka have emerged as the top destinations for foreign direct investment (FDI) in India during FY2024-25, accounting for more than half of the country's total inflows, according to data released by the Department for Promotion of Industry and Internal Trade (DPIIT).Maharashtra topped the FDI table with foreign inflows of USD 19.6 billion, accounting for 31% of India's total FDI during April-March FY2025.Karnataka stood second with foreign investments of USD 6.62 billion, helping the two states collectively grab 51% of the total inflows. DPIIT data shows Delhi ranked third with USD 6 billion, followed by Gujarat (USD 5.71 billion),…

07 Jun

Silver futures price gain: Prices rise in India

Business CorrespondentBusiness, News

New Delhi, June 6: Silver prices rose by Rs 80 to Rs 1,01,460 per kg in futures trade on Thursday as participants increased their bets. At the Multi Commodity Exchange, the price of silver contracts for July delivery rose by Rs 80, or 0.08 percent, to Rs 1,01,460 per kg in a business turnover of 17,560 lots. Analysts said fresh deals by participants led to the rise in silver prices. Globally, silver was trading 0.10 percent lower at $34.46 per ounce in New York.

06 Jun

Coforge shares increase 2% on record date for 1:5 stock split

Business CorrespondentBusiness, News

Coforge stock split: Coforge shares rose nearly 2% on the National Stock Exchange (NSE) on Wednesday to hit an intra-day high of ₹1,730. However, on some platforms, the stock price saw a drop of nearly 80%. This is due to Wednesday, June 4, being the pre-split date for the company's stock split proposal. In early May, the IT company fixed June 4, 2025, as the record date to determine the "rights of equity shareholders for the purpose of subdivision or division of the existing equity shares of the company". The board of directors of Coforge had given the green signal…

05 Jun

Coal transportation growth: 34% increases in FY25

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New Delhi, June 5 State-owned CIL on Thursday said eco-friendly coal transportation grew 34 percent year-on-year to 102.5 million tonnes in FY25. This was made possible through 20 First Mile Connectivity (FMC) projects connected to the Indian Railways network. In comparison, it was 76.5 MT through 17 such projects in FY24, Coal India Ltd (CIL) said in a statement. A total of 19 FMC projects with a capacity of about 150 million tonnes per annum are planned to be commissioned during FY26. The FMC initiative is an automated coal evacuation process that ensures eco-friendly coal transportation from the mine to…

04 Jun

Aluminium futures prices increase on speculators’ bets

Business CorrespondentBusiness, News

New Delhi, June 4 Aluminium prices rose by Rs 2.05 to Rs 242.55 per kg in the futures market on Wednesday as speculators created fresh deals amid a positive trend in the spot market. The price of aluminium contract for July delivery rose by Rs 2.05, or 0.85 per cent, to Rs 242.55 per kg on the Multi Commodity Exchange in a business turnover of 415 lots. Analysts said fresh bets by traders amid demand from consumer industries supported aluminium prices in the futures market.