latest

12 Nov

Oil downgrade biggest in two weeks on demand concerns, dollar

Priyanka RoyBusiness, latest

(Bloomberg) -- Oil drop biggest in 2 weeks on a soft demand outlook in China, a strong U.S. dollar and fears of oversupply in the market. Brent crude was trading below $72 after falling nearly 3% on Monday, while West Texas Intermediate was around $68. China's latest measures to bolster its economy fell short of direct stimulus, and inflation remains weak. A gauge of the dollar rose to a one-year high as investors adjusted to Donald Trump's victory, making oil more expensive for most buyers. Crude has traded in a relatively tight range since the middle of last month, as…

11 Nov

India’s steel exports record double-digit inflation in October

Priyanka RoyBusiness, latest

According to data compiled by the Steel Ministry, India's steel exports in October recorded a double-digit rose of 11 percent over the previous month, indicating better prospects for the sector.Inflation in steel exportsThe country's steel exports rose to 4.4 million tonnes in October from 4 million tonnes in September while imports downgraded, which will help domestic steel companies get better prices for their products in the third quarter, a senior official report.Imports slowed during the month for the 1st time in the current fiscal year, as the government banned poor quality steel coming from countries like Vietnam.Reforms in the domestic…

09 Nov

Inflation in India will inflation to 5.81% due to rising food prices

Priyanka RoyBusiness, latest

BENGALURU, Nov 8 (Reuters) - A Reuters survey of economists estimated consumer price inflation in India rose to a 14-month high of 5.81% in October, mainly driven by a jump in vegetable and edible oil prices, slightly below the central bank’s tolerable threshold of 6.0%.Prices of food items, which make up nearly half of the inflation basket, likely rose more sharply last month. Tomatoes, a staple ingredient in every Indian kitchen, are expected to see double-digit price growth as uneven rains have disrupted production.The government's decision to hike import duty on edible oils by 20 per cent in mid-September also…

08 Nov

Assam to restore 271 wetlands for floodwater diversion: concept note due by December

SayanAssam, Climate & Environment, latest, Meghalaya, Mizoram, Nagalandnature, Restoration, Wetlands

The Central Government has instructed the Assam Government to draft a concept note for the restoration of 271 wetlands aimed at facilitating floodwater diversion, with a deadline set for December this year. The North East Space Application Centre (NESAC) has already identified these 271 wetlands, which are potential candidates for rejuvenation to manage floodwaters. The Water Resources Department has pinpointed nine specific wetlands across seven districts that could be revived for this purpose, and a budget of Rs. 380 crore has already been allocated for the project. However, the Centre believes that a feasibility study must be conducted for all…

08 Nov

HDFC Bank inflation MCLR rates for select periods

Priyanka RoyBusiness, latest

HDFC Bank has increased its marginal cost of funds-based lending rates (MCLR) for select short-term tenors, effective November 7, 2024. The revision, which sees an expansion of up to 5 basis points (bps), is applicable across overnight, 1-month, and 3-year tenors.After this inflation, the overnight MCLR has flourish from 9.10% to 9.15%, while the one-month MCLR has jump from 9.15% to 9.20%. At the same time, the 3-year MCLR has inflation from 9.45% to 9.50%.There is no change in rates for periods other than these three periods.The three-month MCLR remains at 9.30%, while the six-month and one-year MCLR are both…

05 Nov

Construction of the Kohima-Jessami 2-lane road affects landowners

Banasree Sarkarlatest, North East

After the deadline for the NHIDCL to release compensation expired, the office of the Regional Officer (RO) of the National Highways and Infrastructure Development Corporation Limited (NHIDCL) in Kohima was temporarily closed by irate landowners impacted by packages II, III, IV, and V of the Kohima-Jessami 2-lane road construction project. Kiiveliiyi Chuzho, the convenor for the construction of a two-lane road for irate landowners, stated in a press release that the NHIDCL executive director had not given the request a favorable response. The resentful landowners claim that despite their repeated requests and representations, NHIDCL has not demonstrated the urgency or…

05 Nov

Bajaj Auto’s total vehicle sales in October progress by 2% to 4,79,707 units

Priyanka RoyBusiness, latest

Mumbai: Bajaj Auto on Monday reported a 2 percent rise in total vehicle sales, including commercial vehicles and exports, at 4,79,707 units in October this year as against 4,71,188 units in the same month of 2023. Bajaj Auto Ltd said total domestic sales during the month under review declined 8 per cent to 3,03,831 units as against 3,29,618 units sold in the same month of 2023, while exports stood at 1,75,876 units as against 1,41,570 units a year ago.However, total two-wheeler sales increased by two percent to 4,14,372 units in the month under review, as against 4,08,144 two-wheelers sold in…

04 Nov

Oil prices expansion over 1% as OPEC+ delays production hike

Priyanka RoyBusiness, latest

BEIJING, Nov 4 (Reuters) - Oil prices rose more than $1 in early trade on Monday after OPEC+ said on Sunday it would postpone a planned increase in output in December by a month due to weak demand and rising supplies outside the group.Brent futures rose $1.18 a barrel, or 1.61%, to $74.28 a barrel by 0121 GMT. US West Texas Intermediate (WTI) crude rose $1.20 a barrel, or 1.73%, to $70.69.OPEC+, which includes the Organization of the Petroleum Exporting Countries, Russia and other allies, was to increase output by 180,000 barrels per day (bpd) from December.It means the group…

02 Nov

Tata Power shares jump 4%, brokerages retain ‘buy’ rating after Q2 results

Priyanka RoyBusiness, latest

Shares of Tata Power surged over 4 percent following the release of its Q2FY25 results, with several brokerages reaffirming their 'buy' ratings.Elara Securities said 'buy' while raising its target price on the stock from Rs 463 to Rs 518 and upgrading its rating from 'accumulate'.Other brokerages including Motilal Oswal Financial Services, JM Financial and Nomura also retained their 'buy' ratings.Morgan Stanley also expressed optimism and maintained an 'overweight' rating on Tata Power and set a higher target price of Rs 577.In contrast, Nuvama expressed a cautious outlook citing high valuations and retained its 'reduce' rating on the stock. Similarly, Jefferies…

30 Oct

Bandhan Bank shares up surge 9% on Q2 earnings; here are new price targets

Priyanka RoyBusiness, latest

The banking stock touched an intraday high of Rs 184.40, up 9.56 per cent on the BSE. A total of 13.65 lakh shares of the firm were traded, generating a turnover of Rs 24.70 crore. Bandhan Bank shares surged over 9 per cent today after the lender reported its Q2 earnings. The banking stock touched an intraday high of Rs 184.40, up 9.56 per cent on the BSE. A total of 13.65 lakh shares of the firm were traded, generating a turnover of Rs 24.70 crore. The market capitalisation of the bank rose to Rs 29,440 crore on the BSE.…