Nomura has also trimmed its year end forecast for the Nifty 50, lowering the target to 24,900 from 29,300. (AI image) US-Iran war shock for stock markets: Brokerages Citi Research and Nomura have lowered their year end forecasts for the key benchmark index Nifty50, pointing to growing risks to economic growth and corporate earnings as…
The Port of Fujairah in the UAE was once again hit by a drone strike, triggering a fire at a petroleum facility. Specialised emergency teams responded promptly and brought the blaze under control, and no injuries were reported. The attack comes amid rising tensions in the Middle East, as the conflict involving Iran, the United…
The Middle East conflict continues to boil, sending ripples through global oil supplies. As concerns rise over liquified petroleum gas (LPG) shortages, Indian households are increasingly relying on ready-to-cook meals, frozen snacks, and no-cook foods. Retailers report a sharp rise in demand, with sales climbing up to 20% month-on-month as consumers seek alternatives to traditional…
Vedanta Ltd on Monday said its committee of directors has approved raising up to Rs 2,575 crore through the issuance of non-convertible debentures (NCDs), as the company looks to diversify funding sources and strengthen its balance sheet. Poll Should Vedanta Ltd focus more on sustainable practices in its operations? According to a filing with the…
The government on Monday said India’s fuel supply situation remains stable, with adequate crude oil availability and refineries operating at peak capacity even as geopolitical tensions in Middle East continue to disrupt regional energy flows. Poll What is your primary source of information regarding fuel supply news? Addressing concerns over possible shortages, Sujata Sharma, Joint…
The Department for Promotion of Industry and Internal Trade (DPIIT) on Monday notified changes in the foreign direct investment (FDI) policy to permit overseas companies with Chinese shareholding of up to 10 per cent to invest in India through the automatic route, subject to sectoral limits and conditions, PTI reported.However, the relaxation will not apply…
Mumbai: Walmart-backed PhonePe has paused its IPO amid volatility in the markets which have fallen by about 7% since the start of the West Asia conflict. In a statement on Monday, the fintech firm said that it will resume the listing process once there is some stability in global capital markets. “We sincerely hope for…
India’s exports to the US declined 12.88 per cent year-on-year to $6.88 billion in February, weighed down by high tariffs, while the country’s trade deficit with China widened past $100 billion during the April-February period of the current fiscal, according to commerce ministry data released on Monday.Exports had contracted in September, October, December and January,…
Benchmark equity indices rebounded strongly on Monday, rising over 1 per cent each after three consecutive sessions of steep losses, as investors returned to blue-chip banking and domestic-focused stocks amid bargain buying.The 30-share BSE Sensex surged 938.93 points, or 1.26 per cent, to close at 75,502.85. During the session, it touched an intra-day high of…
Wholesale price inflation accelerated to 2.13 per cent in February–the highest level in 11 months–as firming prices of food and non-food articles kept cost pressures elevated despite some easing in vegetable inflation, official data released on Monday showed.The WPI-based inflation rate has now risen for the fourth consecutive month. It stood at 1.81 per cent…