Vodafone Idea shares jump over 3% after KM Birla returns as non-executive chairman
Vodafone Idea shares rose as Kumar Mangalam Birla returned as non-executive chairman, succeeding Ravinder Takkar. This move comes as the company navigates significant financial challenges, including government equity stakes and revised AGR dues. The company has seen its AGR dues reduced and a moratorium on payments, providing some financial relief.
Dollar eases as US-Iran deal hopes grow, yen drifts
The US dollar weakened against major currencies on Wednesday. This happened after the United States indicated it is close to an agreement with Iran. Meanwhile, the Japanese yen continued to fall. US oil futures also dropped following these remarks. Markets are now awaiting US non-farm payrolls data. This will help determine the Federal Reserve’s next […]
Gold jumps on weaker dollar, Middle East peace hopes
Gold prices surged over 1% as a weaker dollar and easing oil prices reduced inflation concerns, fueled by hopes of a U.S.-Iran peace deal. President Trump’s decision to pause a Strait of Hormuz operation contributed to the dollar’s decline and eased geopolitical tensions, impacting various precious metals.
Oil Price Today (May 6): Crude oil falls below $110, down 6% in just two sessions. What’s behind the dip?
Oil prices dipped for a second day as U.S. President Trump hinted at a potential peace agreement with Iran, leading to hopes of restored Middle East supply routes. Trump announced a temporary pause on escorting ships through the Strait of Hormuz, a key oil transit point.
M&M profit surges 42%, but auto margins remain flat
Mahindra & Mahindra reported a strong 42% jump in net profit for the fiscal fourth quarter. Growth was seen across its automotive, farm equipment, and services sectors. Revenue also climbed significantly. Despite challenges like supply chain disruptions, the company’s diversified portfolio helped achieve this breakthrough performance. The company’s EV arm leads the eSUV market by […]
Falling rupee triggers curbs on FX positions; more steps likely to attract dollar inflows
The Indian rupee fell to 95.28 against the US dollar on Tuesday, breaching the 95/$ mark. This decline has led to speculation that the central bank may introduce new measures, potentially targeting Non-Resident Indians, to attract dollar deposits and bolster foreign exchange reserves.
Global Market Today: Asian stocks rise, oil falls as US cites Iran progress
Global stocks surged to record highs as President Trump indicated progress in Iran negotiations, easing geopolitical tensions. This development boosted tech shares, particularly in South Korea, while Brent crude oil prices declined. The positive sentiment also lifted U.S. stock futures, anticipating lower inflation and robust economic growth.
NCLAT sets aside CCI’s Rs 301.6-cr penalty on Grasim Industries, directs fresh hearing
The appellate tribunal NCLAT has overturned a Rs 301.6-crore penalty against Grasim Industries. The fair trade regulator CCI must now hear the Aditya Birla Group firm again. NCLAT found Grasim was not given a chance to present arguments after the CCI differed from its probe unit’s findings. The case concerns alleged dominance in the viscose […]
Rupee goes low & lower on oil fears, risk aversion
The Indian rupee hit fresh record lows, breaching 95 to a dollar, as firm oil prices above $110 a barrel fueled concerns about inflation and the balance of payments. The Reserve Bank of India intervened to support the currency, but limited inflows and increased risk aversion continue to pressure the rupee.
IIFL Finance plans to raise $400 million in ECBs
IIFL Finance is aiming to raise up to $400 million through external commercial borrowings, with Standard Chartered, JPMorgan, and HSBC arranging the deal. This move follows an earlier unsuccessful attempt in March, but improved investor sentiment and strong growth in its gold loan segment have bolstered the company’s outlook.