Business

Aluminium Prices Rise for Fifth Consecutive Session Aluminium Futures Surge to Rs 338.10 per Kilogram New Delhi – Aluminium prices continued their upward trajectory on Friday, marking a fifth consecutive session of gains. The price rose by Rs 1.95 to Rs 338.10 per kilogram in futures trading on the Multi Commodity Exchange (MCX). The aluminium for April delivery contract on the MCX increased by Rs 1.95, representing a 0.58 percent rise, to Rs 338.10 per kilogram. Trading volume for the session reached 2,722 lots. Analysts attributed the price increase to fresh positions taken by traders, supported by a positive trend in global markets. Globally, aluminium prices rose by USD 21.05, or nearly 1 percent, to USD 3,270 per tonne on the...

Zinc Prices Surge Past 1 Percent in Futures Trading Zinc Futures Rise Driven by Overseas Demand New Delhi, March 27 – Zinc prices saw a significant increase on Friday, climbing by more than 1 percent to Rs 313.65 per kilogram in futures trading. The rise was primarily attributed to strong performance in overseas markets.On the Multi Commodity Exchange (MCX), zinc for April delivery increased by Rs 3.80, or 1.23 percent, to Rs 313.65 per kg. Trading volume reached 2,165 lots.Analysts cited fresh buying activity from traders, bolstered by firm global trends, as the catalyst for the upward price movement.Overseas, zinc futures on the London Metal Exchange (LME) rose by USD 11.40, or 0.37 percent, to USD 3,098.65 per metric tonne...

Rupee Hits Fresh Record Low of 94.70 Against US Dollar Amid Oil Price Surge, Weak MarketsMumbai, March 27: The Indian rupee plunged to a fresh all-time low of 94.70 against the US dollar during intra-day trading on Friday, pressured by rising global oil prices, a stronger dollar, and ongoing geopolitical tensions in West Asia.The sharp depreciation was further exacerbated by a steep decline in domestic equity markets and continued outflows by foreign institutional investors, according to forex traders.At the interbank foreign exchange market, the rupee opened at 94.18 and extended losses throughout the session. It breached the key 94.50 level before sliding 74 paise to hit 94.70 against the US dollar.Earlier this week, the rupee...

Jefferies Exits HDFC Bank, Cuts India Exposure After Chairman ResignationNew Delhi, March 27: Global brokerage Jefferies has exited its holdings in HDFC Bank and trimmed its exposure to India across key portfolios following the resignation of the bank’s part-time chairman, Atanu Chakraborty.In its latest “Greed & Fear” report, Jefferies strategist Chris Woods said the firm has removed HDFC Bank from its Asia ex-Japan long-only equity portfolio, global long-only equity portfolio, and international long-only equity portfolio (excluding the US). No specific reason was cited for the move.The brokerage has replaced HDFC Bank with HSBC, assigning it a 4% weighting across these portfolios. This shift has also led to a slight reduction in...

Gold Prices Rebound Nearly ₹2,000 on MCX Amid Global Gains and Bargain BuyingNew Delhi, March 27: Gold prices rebounded sharply in futures trading on Friday, rising by ₹1,997 to ₹1.41 lakh per 10 grams on the Multi Commodity Exchange (MCX), supported by strong global cues and bargain buying after the previous session’s steep decline.Gold futures for April delivery climbed ₹1,997, or 1.43%, to ₹1,41,490 per 10 grams. In the previous session, the yellow metal had plunged ₹4,604, or 3.2%, to settle at ₹1,39,493 per 10 grams.Similarly, the June contract gained ₹1,811, or 1.27%, to ₹1,44,325 per 10 grams, recovering from a fall of ₹4,926, or 3.34%, recorded on Thursday.Commodity markets had remained closed during the morning session...

BJP MP Laxmikant Bajpai Seeks RERA, Insolvency Law Reforms to Protect HomebuyersNew Delhi, March 27: BJP MP Laxmikant Bajpai on Friday called for comprehensive amendments to the Real Estate Regulatory Authority (RERA) framework and insolvency laws, highlighting the plight of thousands of homebuyers who are yet to receive possession of their flats despite investing their life savings.Raising the issue during Zero Hour in the Rajya Sabha, Bajpai said that while the government had established regulatory bodies such as RERA, the Insolvency and Bankruptcy Board, and the National Company Law Appellate Tribunal (NCLAT), their implementation has fallen short—especially in Uttar Pradesh.“The implementation of RERA in Uttar Pradesh is...

Government Cuts Excise Duty on Petrol, Diesel by ₹10/Litre to Cushion Consumers Amid Crude Oil SurgeNew Delhi, March 27: The government has slashed excise duty on petrol and diesel by ₹10 per litre each to shield consumers from soaring global crude oil prices triggered by escalating tensions in the Middle East. The move is expected to cost the exchequer around ₹1.75 lakh crore annually.In a parallel step, the government has reintroduced export duties on diesel and aviation turbine fuel (ATF) to ensure adequate domestic availability.According to an official notification, the special additional excise duty on petrol has been reduced from ₹13 per litre to ₹3, while on diesel it has been cut from ₹10 per litre to nil.At the same...

India Has Adequate Fertilizer Stocks, No Need to Panic Amid West Asia Tensions: J P NaddaNew Delhi, March 27: Union Chemicals and Fertilizers Minister J P Nadda on Friday assured that India has sufficient fertilizer reserves to meet farmers’ needs, stating there is no reason for concern despite ongoing geopolitical tensions in West Asia.Addressing the Lok Sabha, Nadda said the government has taken proactive measures to ensure uninterrupted fertilizer supply across the country. He added that he had already communicated with state agriculture ministers to update them on stock availability.“I want to assure citizens that the government has made adequate arrangements to ensure fertilizers are available whenever required. We have...

India Auto Sector Growth to Slow in FY27 After Strong GST-Driven Expansion: ICRA ReportNew Delhi, March 27: India’s automobile sector is expected to witness a moderation in growth in FY27 after a strong expansion in FY26, largely driven by policy support such as GST cuts, improved affordability, and resilient economic activity, according to a report by ICRA.The report noted that GST rate revisions played a crucial role in boosting demand across segments, particularly by making two-wheelers more affordable and improving fleet economics for commercial vehicles.The commercial vehicle (CV) segment emerged as the key growth driver during FY26, supported by lower GST rates, rising freight movement, and increased infrastructure activity...

Gold and Silver Prices Surge on Safe-Haven Demand Amid West Asia TensionsMumbai, March 27: Gold and silver prices witnessed a sharp rally on Friday as investors flocked to safe-haven assets amid ongoing geopolitical uncertainty and fading hopes of de-escalation in the West Asia conflict.Gold futures for April 2 delivery surged by up to 2.27%, gaining Rs 3,167 to hit an intraday high of Rs 1,42,660 per 10 grams on the Multi Commodity Exchange (MCX). The precious metal later traded at Rs 1,42,500, marking a rise of Rs 3,007 or 2%.Despite some volatility, gold remained in positive territory throughout the session, touching a low of Rs 1,40,287 — still up 0.56% or Rs 794.Silver prices also recorded strong gains. Silver futures for...

. Rupee Hits Record Low of 94.56 Against US Dollar Amid Rising Oil Prices and Weak Equity MarketsMumbai, March 27: The Indian rupee plunged to an all-time low of 94.56 against the US dollar during intra-day trading on Friday, breaching the crucial 94.50 level for the first time. The sharp depreciation was driven by surging global oil prices, a strengthening US dollar, and continued geopolitical tensions in West Asia with no signs of resolution.Forex traders attributed the rupee’s decline to sustained foreign fund outflows and a steep fall in domestic equity markets, which further weakened investor sentiment.At the interbank foreign exchange market, the rupee opened at 94.18 and continued its downward trajectory, falling 60 paise...

Air India Express Raises Borrowing Limit to ₹17,500 Crore Amid Financial Strain Air India Express has increased its borrowing limit to ₹17,500 crore to manage cash flows and operations, marking the third rise since merging AirAsia India in 2024. The move reflects deepening financial challenges at the Tata Group’s low-cost carrier, compounded by disruptions in West Asia.Financial Situation Deteriorates The budget airline has seen significant losses widen, despite revenue growth. As of March 2025, Air India Express carried a debt burden of ₹10,087.4 crore (excluding lease liabilities). The newly approved borrowing limit now allows the airline to potentially reach ₹17,500 crore, exceeding its revenue of ₹16,033 crore from the previous...

OMC Stocks Reversal: Excise Duty Cut Fails to Offset Crude Price Surge New Delhi – Shares of India’s leading oil marketing companies (OMCs) reversed morning gains on Friday, March 27, trading lower despite the government’s recent excise duty cut on petrol. The downturn reflects investor concerns that the measure offers only limited relief against the backdrop of persistently high global crude oil prices.PSU Stocks Down as Crude Prices Remain Elevated BPCL shares emerged as the top gainer, rising 5%, followed by HPCL, which gained almost 4%, and IOC, which was higher by 2%. However, all three PSU stocks erased gains and were down 1-2% by the time of writing this report.Excise Duty Cut: A Tactical Support, Not a Structural Shift The...

New Delhi – A recent analysis from Bernstein has ignited a debate on Dalal Street regarding the true strength of India’s foreign exchange reserves, moving the conversation beyond simple size to a more nuanced assessment of their deployability. As global oil prices rise and external balances face strain, the question of how effectively India can utilize its reserves to defend the rupee is gaining increased attention. Structural Differences in Reserves Bernstein’s report highlights a critical distinction between gross and deployable reserves. A significant portion of India’s reserves is tied up in forwards and other less liquid forms, limiting immediate access to dollar liquidity. Market sentiment remains divided on the extent of this...

India Advocates Transparent WTO Reforms at MC14 Yaounde, Cameroon – Union Commerce and Industry Minister Piyush Goyal has emphasized the importance of transparent, inclusive, and member-driven reforms within the World Trade Organization (WTO) during the ongoing 14th Ministerial Conference (MC14) in Yaounde, Cameroon. The official statement released on Friday outlined the minister’s key priorities.WTO Reform Focus Goyal stated that reforms must prioritize development and uphold core principles such as non-discrimination, consensus-based decision-making, and equity. Discussions at the conference centered on foundational issues of the WTO framework.Bilateral and Multilateral Engagement During the conference, Minister Goyal met with...

SpaceX IPO: Musk May Offer 30% Stake to Retail Investors SpaceX is preparing for investor briefings in April as it moves closer to its initial public offering, according to reports. The company, led by Elon Musk, is planning to hold meetings designed to “test the waters” in the weeks following the Easter holiday.As part of the preparations, SpaceX is expected to hold briefings from its executives, with advisors working to file for the potentially largest listing in history. These briefings could provide more details on the SpaceX IPO and validate the company’s valuation target.The IPO, targeted for June, could raise the value of the company to $175 trillion, making it larger than Nvidia Corp., Apple Inc., Alphabet Inc., Microsoft...

Govt Cuts Excise Duty on Petrol, Diesel – But Pump Prices May Not Fall New Delhi – The Indian government has reduced excise duty on petrol to Rs 3 a litre and eliminated the levy on diesel, but consumers are unlikely to see a drop in fuel prices at the pump. The move, announced by the Finance Ministry on March 26, aims to provide relief to oil marketing companies, but rising global crude prices and strategic decisions by fuel retailers could negate the impact. India relies heavily on imports for its energy needs, with 88% of its crude oil requirements and roughly half of its natural gas needs sourced externally, primarily through the Strait of Hormuz. Recent geopolitical tensions, particularly following military strikes against Iran by...

Crude Oil Prices Plunge Amid Global Uncertainty, Rupee Weakens Crude Oil Price Volatility Brent crude futures fell as much as 2.29 per cent to $105.53 per barrel as of 9:40 am, while US WTI crude declined 2.54 per cent to $92.08. So far this week, Brent crude has dropped over 5 per cent, hovering near the $100 mark, while WTI crude has also fallen nearly 5 per cent to trade around $90.Currency Fluctuations The Indian rupee weakened by 28 paise to hit an all-time low of 94.24 against the US dollar in early trade.Precious Metals Rise Amid the uncertainty, demand for safe-haven assets pushed precious metals higher. Gold contracts for April 2 were trading at Rs 1,40,979, up Rs 1,486 or 1.07 per cent as of 10 am. Silver futures (May 5)...

#Petrol & Diesel Prices Rise Globally, India Shields Consumers International Crude Price Surge Drives Domestic Increases International crude prices have increased significantly over the past month, rising from approximately 70 dollars per barrel to around 122 dollars per barrel. This surge has resulted in corresponding increases in petrol and diesel prices for consumers worldwide.RegionPetrol Price IncreaseDiesel Price IncreaseSouth East Asian30%30%North America30%20%Europe20%50%Africa50%50%India’s Strategic Response to Protect Citizens The Modi Government faced a critical choice: to mirror the price increases seen in other nations or to absorb the financial impact to shield Indian citizens from international...

Bond Yields Jump as Crude Remains Above $100 The benchmark 10-year bond yield was trading at 6.93 percent on March 27 as Iran and crude worries weighed on sentiment.Bond Market Reaction The benchmark 10-year yield climbed to 6.93 percent, up from its previous close of 6.87 percent. Currency and fixed income markets were closed on March 26 for a public holiday.US President Donald Trump had said that he is delaying planned strikes on Iranian power plants, although Iran has rejected a proposal saying that the deal was ‘one-sided’. The pause in attacks did not do much to prop up investor sentiment.As a result, Brent crude prices have remained elevated above $100 per barrel. Higher oil prices will stoke inflationary pressures, which...