Gaurav Bansal

[ad_1] Jewellers are expecting consumer demand to be driven by light weighing ornaments on this Akshaya Tritiya, as gold prices are soaring to the historic highs of Rs 1 lakh.Akshay Tritiya, set to be celebrated on April 30, is considered an auspicious day to buy gold, hence often bringing a surge in the yellow metal’s purchases across India. However, with current rates testing consumer patience, the industry is adapting to the mood with smaller, more affordable designs and a wider range of products."As we approach the auspicious occasion of Akshaya Tritiya, the gold market is buzzing with anticipation," said Rajesh Rokde, chairman of the All India Gem and Jewellery Domestic Council (GJC). "Akshaya Tritiya holds immense cultural significance in India, traditionally marking a surge in gold purchases."Despite the skyrocketing prices, this year could still provide a healthy demand driven by […]

[ad_1] NEW DELHI: Mukesh Ambani-led Reliance Industries on Friday reported a 2.4% rise in its net profit to Rs 19,407 crore for the quarter ending in March, driven by strong performance in retail operations and resilient oil sector results despite global market challenges.The company's consolidated net profit reached Rs 19,407 crore, equivalent to Rs 14.34 per share, during January-March, the fourth quarter of FY25 (April 2024 to March 2025). This shows growth from Rs 18,951 crore, or Rs 14 per share, compared to the same period last year, as reported in their stock exchange filing.Meanwhile, the Indian multinational conglomerate also declared a dividend of Rs 5.5 for the FY25.Operational revenue increased to Rs 2.6 lakh crore, showing growth from Rs 2.4 lakh crore recorded in the January-March 2024 period. [ad_2] Source link

[ad_1] US stock markets opened lower on Thursday, with the major indices showing modest declines following a brief rebound earlier in the week. Investors are weighing corporate earnings results against global economic concerns, keeping market sentiment cautious.At the opening bell, the Dow Jones Industrial Average stood at 40,031.61, down by 61.79 points, or 0.15%. The Nasdaq followed with a slight dip of 4.46 points, or 0.03%, bringing it to 17,161.58. The S&P 500 was also down 1.6 points, or 0.03%, settling at 5,483.17.Gold and oil prices also faced declines, with gold dropping by 1.85% to $3,286.50, reflecting investor caution. Oil futures slid by 0.89%, with a barrel of crude trading at $62.23.The US 10-year Treasury yield fell to 4.274%, marking a 0.72% decline, signalling a pullback in investor confidence. Meanwhile, the euro slipped against the dollar, trading at 1.134, down […]

[ad_1] Image used for representative purposes South Korea-based Samsung Electronics will invest Rs 1,000 crore in its facility in southern India, Tamil Nadu’s industries minister announced on Friday. The move follows recent worker protests at the plant near Chennai, where employees demonstrated against suspensions, according to a Reuters report.The facility had previously faced labour unrest, with workers staging a five-week strike in September demanding better wages and union recognition. Samsung later agreed to address some of their concerns.Tamil Nadu’s Minister for Industries, Investment Promotion and Commerce, TRB Rajaa, said in a post on X that the new investment "reinforces their faith in the labour force of Tamil Nadu." The expansion is expected to create 100 new jobs. While the facility currently employs over 2,000 people, the union and Samsung remain at odds over allegations of union-busting—claims the company denies, stating […]

[ad_1] NEW DELHI: India’s foreign exchange reserves increased by $8.31 billion to $686.145 billion for the week ended April 18, the Reserve Bank of India said on Friday.The forex kitty have shown positive growth for seven straight weeks, with the previous week ended April 11 recording an increase of $1.567 billion to $677.835 billion.The overall forex kitty witnessed all-time high of $704.885 billion in September 2024.For the period ending April 18, the data released indicated that foreign currency assets, which constitute a significant portion of the reserves, grew by $3.516 billion to $578.495 billion.The foreign currency assets, when expressed in dollar terms, reflect the impact of value changes in non-US currencies such as the euro, pound and yen that are part of the foreign exchange reserves, reported news agency PTI.The RBI reported that gold reserves saw an increase of $4.575 […]

[ad_1] Indigo Aircraft (Photo: X/Indigo) India's aviation sector is grappling with a deepening crisis, as ongoing supply chain disruptions and engine-related challenges continue to ground operations, according to a report by the Investment Information and Credit Rating Agency (ICRA).The recent report said, “Supply-chain challenges and engine failure issues impact industry capacity; the industry has been facing supply-chain challenges and issues of engine failures for the Pratt and Whitney (P&W) engines supplied to various airlines.”The situation has been exacerbated by the global recall of Pratt & Whitney (P&W) engines and delays in testing by the manufacturer. As a result, airlines have been compelled to lease additional aircraft—largely through wet lease arrangements—to compensate for the grounded fleet. This move has driven up lease rentals and operating costs, while also reducing fuel efficiency, particularly because some of the replacement aircraft are older models […]

[ad_1] India’s economy is expected to grow at a slower pace in the current fiscal year, weighed down by subdued private sector investment and uncertainty surrounding American tariffs, according to a Reuters survey of economists.The fifth-largest economy in the world is projected to expand at an average rate of 6.3 per cent in FY2024 -25, based on a poll conducted from April 15-24 with participation from 54 economists. While this matches last year’s growth, it marks a slight downgrade from the 6.5 per cent forecast in a March survey. It still remains marginally above the International Monetary Fund’s (IMF) recent projection of 6.2 per cent.However, this represents a significant drop from the 9.2 per cent GDP growth recorded in fiscal year 2023–24, highlighting a slowdown in momentum.Economists say the headline figures mask deeper structural issues, including the economy’s inability to […]

[ad_1] The RBI's gold acquisitions align with the worldwide trend of central banks actively purchasing gold. (AI image) The Reserve Bank of India (RBI) acquired 57.5 tonnes of gold during FY25, expanding its holdings of safe haven assets whilst gold prices increased by over one-third during a period of instability in global financial markets. The RBI's gold acquisitions align with the worldwide trend of central banks actively purchasing gold, which serves as a natural inflation buffer and reliable asset, particularly during periods of dollar volatility.This acquisition represents the second-largest annual gold purchase by the central bank since it began building its reserves in December 2017.Multiple factors, including geopolitical uncertainties, fluctuations in the US Dollar, and concerns regarding US government bonds, have prompted many central banks around the world to increase their gold holdings to mitigate risks.According to the latest central […]

[ad_1] In a policy shift aimed at accelerating US leadership in autonomous vehicle technology, the Trump administration is easing federal safety regulations to help domestic automakers like Elon Musk’s Tesla stay ahead of Chinese rivals. The US department of transportation on Thursday unveiled a new framework that allows American companies to seek exemptions from certain safety rules when testing self-driving cars for non-commercial purposes—such as research and public demonstrations. "We’re in a race with China to out-innovate, and the stakes couldn’t be higher,” said Transportation Secretary Sean Duffy in a statement, justifying the move. “Our new framework will slash red tape and move us closer to a single national standard," he added.The move is intended to give US automakers greater flexibility as they push to develop fully autonomous vehicles. The administration is also revising crash reporting requirements for self-driving systems, […]

[ad_1] Air India is looking to procure around 10 narrowbody aircraft from Boeing. Air India has started discussions with the American aircraft manufacturer Boeing regarding the acquisition of approximately 10 737 MAX aircraft, following Chinese clients' refusal to accept deliveries due to ongoing trade tensions with the United States.Boeing CEO Kelly Ortberg had on Wednesday acknowledged, "due to the tariffs, many of our customers in China have indicated that they will not take delivery", explaining that the company might redirect these aircraft to other interested customers.The world's largest economies, the United States and China, have imposed reciprocal tariffs exceeding 100% on each other's goods.Two sources involved in the confidential discussions told Reuters, Air India is looking to procure around 10 narrowbody aircraft from Boeing for its low-cost carrier Air India Express, which currently operates a fleet of more than 100 […]