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19 Sep

Copper futures increase on spot demand

Business CorrespondentBusiness, News

New Delhi, (News) - Copper futures rose 0.35 percent to Rs 912 per kilogram on Friday due to increased spot demand. At the Multi Commodity Exchange, copper contracts for October delivery rose by Rs 3.20, or 0.35 percent, to Rs 912 per kilogram, with a turnover of 4,653 lots. Analysts attributed the rise in copper prices to increased trading by participants.

18 Sep

Zinc futures prices downgrade due to weak demand | Price Analysis

Business CorrespondentBusiness, News

New Delhi: Zinc prices fell by 0.48 percent to Rs 281.25 per kg in futures trade on Thursday as speculators reduced their positions following negative cues from the spot market. At the Multi Commodity Exchange, zinc contracts for October delivery fell by Rs 1.35, or 0.48 percent, to Rs 281.25 per kg with a turnover of 1,739 lots. Analysts said that zinc prices were pressured by participants cutting their positions due to weak demand from consuming industries in the spot market.

17 Sep

Cottonseed oil cake futures prices increase on demand

Business CorrespondentBusiness, News

New Delhi: Cottonseed oil cake prices rose by Rs 2 to Rs 2,914 per quintal in futures trade on Wednesday as speculators created fresh positions amid strong demand. On the National Commodity Exchange (NCDEX), cottonseed oil cake contracts for December delivery rose by Rs 2, or 0.07 percent, to Rs 2,914 per quintal with a turnover of 12,560 lots. Market sources said the rise in cottonseed oil cake prices was mainly driven by participants increasing their bet sizes amid rising demand for animal feed.

16 Sep

Tyre industry revenue to increase 12 times by 2047

Business CorrespondentBusiness, News

New Delhi: Domestic tyre industry revenue is expected to grow 12 times to Rs 13 lakh crore by 2047, driven by premiumisation and increased exports, a report released on Tuesday said. Indian tyre industry production is expected to grow nearly four times by 2047, driven by a strong domestic original equipment manufacturer (OEM) sector, demand for replacement tyres and rapid growth in vehicle exports, according to a joint report by ATMA and PwC India. "During this period, revenue is expected to grow 12 times to Rs 1,300 thousand crore by 2047," the report said. The sharp rise in revenue growth…

15 Sep

India’s vegetable oil imports rose, palmolein declines

Business CorrespondentBusiness, News

New Delhi, India's vegetable oil imports in August rose 7 per cent to 16.77 lakh tonnes compared to the same month last year, despite a sharp drop in refined palmolein shipments following changes in import duty, industry body SEA said on Monday. Total vegetable oil imports stood at 15.63 lakh tonnes in August 2024. The country imported 16.21 lakh tonnes of edible oil and 55,821 tonnes of non-edible oils in August, the Solvent Extractors Association of India (SEA) said. Among edible oils, crude oil imports rose to 16.13 lakh tonnes in August, while refined palmolein shipments declined to 8,000 tonnes…

13 Sep

Myntra’s profit increase Rs 548.3 crore in FY25

Business CorrespondentBusiness, News

New Delhi, Fashion and lifestyle e-commerce platform Myntra Designs Pvt Ltd has reported a multi-fold jump in consolidated profit to Rs 548.3 crore for the financial year ended March 2025. According to data received from Toffler, the Bengaluru-based company had reported a profit of Rs 30.9 crore in the previous financial year. The company's operating revenue grew 18 percent from Rs 5,121.8 crore in FY24 to Rs 6,042.7 crore in FY25.

12 Sep

India’s foreign exchange reserves increase US$ 698.27 billion

Business CorrespondentBusiness, News

Mumbai, India's foreign exchange reserves rose by US$ 4.038 billion to US$ 698.268 billion during the week ended September 5, according to data from the Reserve Bank of India (RBI) on Friday. The increase was due to a significant increase in the value of gold reserves. In the previous reporting week, the total reserves had risen by US$ 3.51 billion to US$ 694.23 billion. According to the data, foreign currency assets, a major component of the foreign exchange reserves, rose by US$ 540 million to US$ 584.477 billion during the week ended September 5. Expressed in dollars, foreign currency assets…

11 Sep

GST cut: Cement prices to downgrade by Rs 30-35 per bag

Business CorrespondentBusiness, News

New Delhi: Rationalisation of GST will reduce cement prices by Rs 30-35 per 50 kg bag and also reduce construction costs, a report by India Ratings and Research (Ind-Ra) said. Last week, the GST Council decided to introduce two slabs - 5 percent and 18 percent - in the existing GST regime. From September 22, cement will be taxed at 18 percent instead of 28 per cent. The report said the change is "structurally positive" for the cement sector and could boost demand in the affordable category, which has been weak in recent times. Ind-Ra believes companies will pass on…

10 Sep

Cottonseed oil futures prices downgrade on weak demand

Business CorrespondentBusiness, News

New Delhi, Cottonseed oil cake prices on Tuesday fell by Rs 38 to Rs 2,954 per quintal in futures trade as traders reduced their positions following a weak trend in the spot market. At the NCDEX, cottonseed oil cake contracts for December delivery fell by Rs 38, or 1.29 per cent, to Rs 2,954 per quintal in a business turnover of 7,890 lots. Analysts said selling by traders at current levels amid sluggish market sentiment mainly led to the fall in cottonseed oil cake prices.

09 Sep

Infosys shares increase after buyback proposal

Business CorrespondentBusiness, News

New Delhi: Infosys shares jumped nearly 5 percent on Tuesday after the company said its board will consider a proposal for buyback of equity shares on September 11. The stock rose 4.70 percent to Rs 1,500 on the BSE. It rose 4.68 percent to Rs 1,502.80 on the NSE. No other details were given in the notice filed by Infosys to the BSE about the buyback. "The board of directors of Infosys Limited will, at its meeting scheduled to be held on September 11, 2025, consider a proposal for buyback of fully paid-up equity shares of the company, in accordance…