Gaurav Bansal

[ad_1] NEW DELHI: Adani Power secured a contract to supply 1,500 megawatts (MW) of electricity to Uttar Pradesh at a tariff of Rs 5.383 per unit (kWh) for a period of 25 years, announced UP's energy minister AK Sharma."We decided to purchase a total of 1500 MW (ex-bus) power from a 2x800 MW (1600 MW) thermal power project based on competitive bidding. Under this, seven companies came forward and participated in the bidding processes. Adani Power Ltd has won a contract to supply 1500 megawatts from a thermal power plant in the northern state of Uttar Pradesh at Rs. 5.383 per unit," AK Sharma told reporters in Lucknow, as quoted by news agency ANI.The deal, finalised through a competitive bidding process, involves power supply from a 2x800 MW (1,600 MW) thermal power project to be established within the state.The Uttar […]

[ad_1] Union telecom minister Jyotiraditya Scindia on Tuesday said that investing in India today is a smart economic move for all original equipment manufacturers (OEMs). Speaking at the Bharat Telecom event, he pointed to Apple as an example, highlighting the US tech giant’s decision to manufacture most of the iPhones sold in the US from India.The minister said, "Apple has decided to source and produce all its mobile phones in India in the years to come." Scindia also emphasised that such investments in India are not just driven by goodwill but is also economically sound for every OEM.He further added that while investing in India, “you are choosing affordability, you are choosing reliability, you are choosing originality."During Apple's recent earnings call, CEO Tim Cook announced that the majority of iPhones sold in the US in the June quarter will be […]

[ad_1] India’s services sector kicked off the new financial year with a positive note, with April’s PMI rising to 58.7 from 58.5 against the previous month, as per HSBC Services PMI data released by S&P GlobalBusiness growth in the sector was driven by stronger demand and a sharp rise in new orders in April, after a brief spell of slowdown in March.Highlights from the report:A strong rise in new business orders, the highest in eight months, fuelled the overall output growth. Companies credited this to supportive market conditions, successful marketing efforts, and improved efficiency, which enabled them to handle greater workloads. However, unfinished workloads also continued to climb at a rate surpassing the long-term average.To accommodate rising orders, hiring picked up speed from March, with firms expanding their workforce by adding both full-time and part-time positions to boost operational capacity.The […]

[ad_1] Japanese banking giant Sumitomo Mitsui Banking Corp (SMBC) is a step closer to acquiring a major state in Yes Bank, after months of negotiations according to sources quoted by ET. If the deal goes through, it will trigger an open offer to buy an additional 26% stake in Yes Bank, currently India’s sixth-largest private lender by assets. This move would also make SMBC the bank’s largest shareholder.Senior SMBC executives were in Mumbai last week to hold high-level talks with SBI and other key shareholders to finalise the terms. Yes Bank, once in crisis, was rescued in 2020 through a coordinated effort led by the Reserve Bank of India (RBI) and the State Bank of India (SBI), which currently holds a 24% stake. While SBI has been actively seeking a new owner, it is still unclear whether other key stakeholders […]

[ad_1] Moody’s has maintained its growth prediction for India at 6.5% for 2026, following a projected 6.7% growth in 2024. (AI image) Moody'sRatings has reduced India's GDP growth forecast for 2025 to 6.3% from 6.5%, attributing the revision to heightened global policy uncertainty and trade limitations. The agency has also highlighted that increasing geopolitical friction between India and Pakistan presents possible risks to this outlook.On April 22, a terror attack in Pahalgam, Jammu & Kashmir, resulted in 26 tourist killings.Moody’s has maintained its growth prediction for India at 6.5% for 2026, following a projected 6.7% growth in 2024.The Global Macro Outlook 2025-26 (May Update) by Moody's indicates a widespread global economic deceleration influenced by increased US policy uncertainty, trade conflicts and unstable financial markets. The organisation observed that international investors and corporations are adjusting their approaches due to evolving geopolitical […]

[ad_1] Gold has support at $3335-3310 while resistance at $3382-3398. (AI image) Gold rate today: Gold prices jumped on Tuesday, driven by heightened safe-haven demand following the U.S. President Donald Trump's tariff announcements, whilst traders awaited signals from the forthcoming Federal Reserve policy meeting.At 10:05 am, MCX June gold futures were valued at Rs 95,950 per 10 grams, showing an increase of Rs 1,301 from the previous close. Simultaneously, June silver futures reached Rs 96,650 per kg, advancing by Rs 2,125.In international markets, Spot gold increased by 1.4% to $3,380.92 an ounce at 0224 GMT, reaching its peak since April 22 earlier in the trading session, according to an ET report."Gold has support at $3335-3310 while resistance at $3382-3398. Silver has support at $32.65-32.40 while resistance is at $33.30-33.55. In INR gold has support at Rs 94,350-93,980 while resistance at […]

[ad_1] Gold price outlook: Market sentiment remains in favor of Gold despite US President Donald Trump having stated an intent to make a deal with China. (AI image) Gold price prediction: Gold is traditionally a safe haven investment and in times of global economic and political turmoil, focus on gold is but natural. Gold prices globally hit record highs recently but have since then corrected.What’s thegold rate outlook and what should you as an investor do? Maneesh Sharma, AVP - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations:Gold ended the last week in red witnessing back to back weekly losses for the first time this year as ease in trade tensions, a pullback in dollar from 3 year lows, and a liquidity drain from China's market holiday weighed on bullion markets. The April U.S. […]

[ad_1] Automobile giant Ford hit a huge bump in its first quarter profits, reporting a sharp fall of 65% on Monday. The company also withdrew its forecast for 2025 amid tariff uncertainty as auto sales fell due to the launch of new vehicles.The company posted $471 million in profits for the quarter, a figure that exceeded analyst expectations but was just a third of its earnings over the same period last year, while revenues fell by five percent to $40.7 billion.It reported a 7% drop in wholesale units, a decline it had flagged earlier, blaming slower production at its Kentucky and Michigan plants where new vehicle launches are underway.Ford is now estimating a $1.5 billion annual hit to adjusted operating earnings due to tariffs, which have hit a lot of companies and productions since Trump returned to the White House […]

[ad_1] Top stocks to buy today (AI image) Stock market recommendations: According to Somil Mehta, Head - Alternate Research, Capital Market Strategy, Mirae Asset Sharekhan, Aurobindo Pharma and IRCTC are the top stocks to buy today:Aurobindo Pharma – Buy in the range between Rs 1240 & Rs 1250; Stop Loss: Rs 1202; Target: Rs 1356Aurobindo Pharma has formed a flag pattern and expected to break out on the upside. The momentum indicator has also given a positive crossover above the zero line. The stock has been consolidating in a broad range since a few trading sessions and has closed above 20 hourly moving average i.e.1202, resuming the up trend today. The stock is expected to continue the up trend till the previous swing high i.e. 1356. Key resistance is 1279 & 1356 and support is at 1203 and 1191.IRCTC – […]