Vedanta shares plunged 7% to Rs 410 as the US dollar hit a record high, weakening the Indian rupee and hurting metal stocks. Trump tariffs fueled market concerns, impacting Nifty Metal stocks. Vedanta’s Q3 earnings showed a 76% YoY profit jump, while analysts see a 22% upside with a Rs 513 target price.
RBI eases restrictions on cash credit accounts, eases current account norms
The Reserve Bank of India has lifted all restrictions on banks opening and maintaining cash credit accounts, offering greater flexibility for short-term working capital loans.