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New Delhi, Mar 11 (PTI) State-owned fuel retailers Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) absorbing the impact of elevated global energy prices will lead to heightened margin and cash-flow volatility, Moody's Ratings said on Wednesday. "Domestic retail prices of fuels have remained largely steady since April 2022, despite swings in global oil and gas prices and the country's high dependence on imports," Moody's said i ...Read More >
New Delhi, Mar 2 (PTI) Shares of oil marketing companies and paint manufacturers declined on Monday in-line with a weak trend in equities as deepening conflict in West Asia drove crude oil prices higher. The stock of Indian Oil Corporation tumbled 4.53 per cent, Hindustan Petroleum Corporation Ltd dropped 3.36 per cent, and Bharat Petroleum Corporation Ltd declined 2.81 per cent on the BSE. "A sustained rise in oil remains a key monitorable for India, given its implications on inflation, fisca ...Read More >
New Delhi, Mar 2 (PTI) Equity investors became poorer by Rs 6.59 lakh crore on Monday as markets faced a massive drubbing amid rising tensions in West Asia that weighed heavily on sentiments. The 30-share BSE Sensex tanked 2,743.46 points or 3.37 per cent to 78,543.73 in early trade. It later ended at 80,238.85, down 1,048.34 points or 1.29 per cent. The market capitalisation of BSE-listed companies eroded by Rs 6,59,978.08 crore to Rs 4,56,90,693.19 crore (USD 5 trillion). "Indian equities w ...Read More >
MUMBAI: The rupee saw a steep loss of 42 paise to settle at 91.50 (provisional) against the US dollar on Monday after US and Israeli attacks on Iran intensified worldwide risk aversion, setting crude oil prices on fire and demand for the American currency soaring. Massive selling in domestic equity markets and withdrawal of foreign funds further dragged the Indian currency down, forex traders said. At the interbank foreign exchange, the rupee opened at 91.23 and touched the intraday low of 91. ...Read More >
Mumbai, Feb 13 (PTI) The rupee depreciated 8 paise to 90.69 against the US dollar in early trade on Friday, pressured by the strengthening of the American currency and a negative trend in domestic equities. Forex traders said a firm dollar limited the upside for emerging-market currencies including the rupee. At the interbank foreign exchange market, the rupee opened at 90.69 against the US dollar, registering a fall of 8 paise over its previous close. On Thursday, the rupee appreciated 17 pa ...Read More >
Mumbai, Dec 17 (PTI) The rupee witnessed high volatility in early trade on Wednesday, as support from easing crude oil prices was offset by uncertainty over the India-US trade deal and persistent foreign fund outflows. Forex traders said the key driver of rupee weakness in December was continued FPI selling across both equity and debt markets, with foreign investors repeatedly selling several billion dollars' worth of Indian assets on a daily basis in the last few months, the selling intensifyi ...Read More >
MUMBAI, Dec 17 (Reuters) - The Indian rupee may pause its recent slide at Wednesday's open, with the quick fall expected to draw improved two-way interest, while the dip in the dollar index to a two-month low could offer support. The 1-month non-deliverable forward indicated the rupee will open in the 90.96-91.02 range versus the U.S. dollar, having settled at 91.0275 on Tuesday. The rupee fell 0.3% on Tuesday to a lifetime low of 91.0750, weighed by heavy dollar demand linked to NDF maturitie ...Read More >
Mumbai, Dec 16 (PTI) The rupee descended to a fresh record low, breaching the 91-a-dollar mark for the first time before ending 15 paise weaker at 90.93 against the greenback on Tuesday, even as the government in the Rajya Sabha attributed the sliding currency value to the widening trade gap and developments related to the India-US trade deal. During the session, the local unit lost 36 paise from its previous close to hit its lowest-ever level of 91.14 against the greenback, but strengthened sl ...Read More >
Mumbai, Dec 16 (PTI) The rupee fell 23 paise against the greenback to settle at a new all-time low of 91.01 (provisional) on Tuesday, weighed down by relentless foreign fund outflows, no breakthrough in India-US trade deal, and persistent US dollar buying. During the session, the local unit lost 36 paise from its previous close against the greenback to hit its lowest-ever level of 91.14, but regained some ground later in the day. Even a weaker greenback and a sharp decline in global crude oil p ...Read More >
New Delhi: India's inflation is likely to stay low in FY27, supported by well-stocked granaries, low oil prices, and other long-term factors that keep core inflation under control. According to a new report by HSBC Global Investment Research, these factors will help maintain price stability in the coming months. HSBC noted that while it does not expect the Reserve Bank of India (RBI) to cut the repo rate further, there is a possibility of easing if economic growth slows down. November inflatio ...Read More >
New Delhi: For the past few weeks, everyone-from common people to investors-has been asking one question: why has the Indian rupee fallen so sharply? The rupee has slipped close 90 against the US dollar, and because of this sharp fall, the issue was raised in Parliament. The government clearly explained in the Lok Sabha that the rupee's weakness is not sudden and has happened due to several domestic and global reasons. How fast did the rupee slide? The government said that in the third week of ...Read More >
Mumbai: The rupee plunged 9 paise to a record low of 90.87 against the US dollar in early trade on Tuesday, weighed down by sustained FII outflows and no breakthrough in the India-US trade deal. However, a weaker greenback and a decline in global crude oil prices capped further losses in the domestic unit, according to forex traders. At the interbank foreign exchange, the rupee opened at its all-time low of 90.87 against the US dollar, down 9 paise from its previous close, and traded in a narro ...Read More >
Mumbai: The rupee plunged 9 paise to a record low of 90.87 against the US dollar in early trade on Tuesday, weighed down by sustained FII outflows and no breakthrough in the India-US trade deal. However, a weaker greenback and a decline in global crude oil prices capped further losses in the domestic unit, according to forex traders. At the interbank foreign exchange, the rupee opened at its all-time low of 90.87 against the US dollar, down 9 paise from its previous close, and traded in a narro ...Read More >
Mumbai (PTI): The rupee plunged 9 paise to a record low of 90.87 against the US dollar in early trade on Tuesday, weighed down by sustained FII outflows and no breakthrough in the India-US trade deal. However, a weaker greenback and a decline in global crude oil prices capped further losses in the domestic unit, according to forex traders. At the interbank foreign exchange, the rupee opened at its all-time low of 90.87 against the US dollar, down 9 paise from its previous close, and traded in ...Read More >
New Delhi [India], December 15 (ANI): The Indian economy is poised to grow at 7.0 per cent in the current fiscal 2025-26, Crisil said as it raised projections by 50 basis points soon after the country registered robust growth in the first half. Crisil has revised its GDP forecast for this fiscal with the first-half growth printing at a street-beating 8 per cent. "We expect GDP to grow at 7 per cent in fiscal 2026, compared with 6.5 per cent in fiscal 2025," Crisil, a global, insights-driven an ...Read More >
Mumbai, Nov 19 (PTI) The rupee closed 2 paise higher at 88.58 (provisional) against the US dollar on Wednesday, aided by buying momentum in domestic equity markets and lower crude oil prices overseas. Forex traders said a strong American currency and outflow of foreign capital prevented a sharp gain in the rupee even as investors were concerned about the progress on the proposed India-US trade deal. At the interbank foreign exchange market, the rupee opened at 88.57 and hit an intra-day high o ...Read More >
Mumbai, Nov 13 (PTI) The rupee consolidated in a narrow range and settled for the day lower by 6 paise at 88.68 (provisional) against the US dollar on Thursday, as foreign fund outflows and continuous dollar demand from local importers, including oil companies, exerted pressure on the local currency. Forex traders said rupee is trading in a tight range, as overnight decline in crude oil prices and renewed optimism over US-India trade talks providing a steady anchor and restricted the downfall. ...Read More >
The Indian rupee faced depreciation against the US dollar on Friday, with foreign investors exiting the Indian capital markets. The domestic stock exchange experienced significant sell-offs. Concurrently, crude oil prices were on the rise in global markets. Notably, October saw a deceleration in growth within India's services sector, leading to the rupee's final settlement at 88.66 against the dollar. The rupee declined 3 paise to 88.66 against the US dollar in early trade on Friday as the Amer ...Read More >
Mumbai, Nov 10 (PTI) The rupee depreciated 6 paise to settle at 88.71 (provisional) against the US dollar in a muted session on Monday, weighed down by elevated crude oil prices. However, positive domestic equity markets and a soft US dollar cushioned the rupee's downside, forex traders said. At the interbank foreign exchange market, the rupee opened at 88.64 against the American currency, and touched an intraday high of 88.64 and a low of 88.71 against the greenback during the day. The domes ...Read More >
Mumbai, Nov 4 (PTI) The rupee recovered from the record low level and settled with a gain of 11 paise at 88.66 (provisional) against the US dollar on Tuesday boosted by falling crude oil prices overseas. Forex traders said a firm dollar, outflow of foreign funds and subdued domestic equity markets prevented a sharp gain in the Indian currency. At the interbank foreign exchange, the rupee opened at 88.55 and hit the intra-day high of 88.28 against the greenback. The unit also touched a low of 8 ...Read More >
The Indian Rupee weakened against the US Dollar today. Month-end import demand and higher global crude oil prices are impacting the currency. Investors are awaiting the Federal Reserve's policy decision for further direction. Meanwhile, Indian equity markets showed gains in early trade. Crude oil imports from the United States have seen a significant increase. The rupee depreciated 21 paise to 88.40 against the US dollar in early trade on Tuesday, weighed down by month-end dollar demand from im ...Read More >
Mumbai, Oct 28 (PTI) The rupee depreciated 21 paise to 88.40 against the US dollar in early trade on Tuesday, weighed down by month-end dollar demand from importers and a surge in global crude oil prices. Forex traders said investors are keeping a watch on Federal Reserve's policy decision on Wednesday for further cues. Markets are assigning a 97.8 per cent probability to a 25-basis-point rate cut, with another one expected in December, they said. At the interbank foreign exchange market, the ...Read More >
In return, India may reduce imports of Russian oil and open its market to non-genetically modified American corn and soymeal products. The U.S. and India are close to a possible trade deal that would reduce tariffs on Indian exports to about 15% to 16% from the current 50%, according to the Mint. In return, India may reduce imports of Russian oil and open its market to non-genetically modified American corn and soymeal products. The bilateral trade agreement could be announced when President D ...Read More >
Indian rupee (left) and US dollar currency notes are held by a foreign exchange employee. File/AFP India will not accept limits on its trading choices or rush to sign agreements, Trade Minister Piyush Goyal said on Friday, even as a senior government official said a bilateral trade deal with Washington was "very near." "India will not sign any trade deal in a hurry," Goyal said during a speech at the Berlin Global Dialogue, referring to European Union and the US concerns over India's continued ...Read More >
NEW DELHI -- Indian oil refiners can shift away from Russian crude after United States President Donald Trump imposed sanctions on Moscow's two largest oil companies, but the move will come at a cost, analysts said on Friday. Trump has claimed that Indian Prime Minister Narendra Modi has agreed to cut its Russian oil imports as part of a prospective US trade deal -- something New Delhi has not confirmed. Relations between the two countries plummeted in August after Trump raised tariffs on Indi ...Read More >
NEW DELHI: Indian oil refiners can shift away from Russian crude after US President Donald Trump imposed sanctions on Moscow's two largest oil companies - but the move will come at a cost, analysts said Friday. Trump has claimed that Indian Prime Minister Narendra Modi has agreed to cut its Russian oil imports as part of a prospective US trade deal - something New Delhi has not confirmed. Relations between the countries plummeted in August after Trump raised tariffs on Indian exports to the US ...Read More >
Orkla India IPO: Orkla India, parent company of packaged foods manufacturer MTR Foods, has set the price band for its initial public offering (IPO) in the range of ₹695 to ₹730 per equity share. The mainline offering is entirely an offer for sale (OFS) of ₹22.8 million equity shares worth ₹1,667.54 crore. Orkla Asia Pacific is the promoter selling shareholder, while Navas Meeran and Feroz Meeran are other selling shareholders. According to the red herring prospectus (RHP), the company has reser ...Read More >
New Delhi: Reliance Industries Ltd, India's largest buyer of discounted Russian oil, plans to scale back imports following fresh US sanctions on Moscow-linked firms, dealing a significant blow to billionaire Mukesh Ambani's conglomerate. State-run refiners, however, may continue purchases through intermediary traders for now, industry officials said. Reliance, which operates the world's largest single-site oil refining complex at Jamnagar in Gujarat, purchased about half of the 1.7-1.8 million ...Read More >
New Delhi, Oct 23 (PTI) Billionaire Mukesh Ambani's Reliance Industries Ltd, India's biggest buyer of discounted Russian oil, plans to scale back imports of Russian crude oil following fresh US sanctions on Moscow-linked firms, sources said. State-run refiners, however, may continue purchases through intermediary traders for now, industry officials said. Reliance, which operates the world's largest single-site oil refining complex at Jamnagar in Gujarat, purchased about half of the 1.7-1.8 mil ...Read More >
New Delhi, Oct 23 (PTI) US sanctions against two of Russia's largest oil companies are expected to impact Reliance Industries' crude imports from Russia, while state-run refiners may continue purchases through intermediary traders for now. Industry sources said public-sector units are assessing compliance risks but are unlikely to halt Russian crude flows immediately as they buy almost all of their needs from traders, mostly European (who are out of the sanctions net). Billionaire Mukesh Amban ...Read More >
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