[ad_1] MUMBAI: The price of silver in India reached a new all-time high of Rs 1.05 lakh per kg on the MCX on Thursday, as prices in the international market hit a 13-year high. The rally was fuelled by strong investor demand, soft US economic data, a weakening dollar, heightened geopolitical tensions, and firm industrial demand. [ad_2] Source link
[ad_1] Tesla shares plunged over 8% on Thursday as tensions between US President Donald Trump and Tesla CEO Elon Musk escalated, leaving investors concerned about the future of Musk’s vast business empire. The sharp decline was triggered instead by a bitter public spat between the two high-profile figures. Musk criticised the president’s recent tax bill, describing it on his social media platform X as a “disgusting abomination” that undermines cost-cutting efforts led by the department of government efficiency (DOGE), a team Musk has been closely involved with. Trump retaliated by suggesting Musk’s anger stemmed from the bill’s removal of tax incentives for electric vehicle (EV) purchases, accusing Musk of souring their previously friendly relationship. “Look, Elon and I had a great relationship. I don’t know if we will anymore,” Trump said, quoted by Reuters. “He said the most beautiful things […]
[ad_1] Flipkart has received a lending licence from the Reserve Bank of India, paving the way for direct financing to customers, though the ecommerce firm is yet to disclose operational details.The Walmart-backed company confirmed on Thursday that it had secured a Non-Banking Financial Company (NBFC) licence from the RBI, with sources indicating the approval came in March, PTI reported.While Flipkart acknowledged the development, it did not offer details on how or when the NBFC arm would be operationalised. According to sources, the licence could enable the company to offer credit services such as EMIs or instalment-based financing directly to consumers on its platform. However, specifics of product rollout remain unconfirmed.Walmart currently owns over 80% of Flipkart, having acquired a majority stake in the company in 2018.The development comes shortly after Flipkart, which is preparing for a public listing, announced in […]
[ad_1] ECB President Christine Lagarde (AP) The European Central Bank lowered its key interest rate by 25 basis points on Thursday, citing growing uncertainty from US trade threats and slowing eurozone momentum.In its eighth consecutive rate cut, the ECB reduced its benchmark rate to 2%, down from a recent high of 4%, as policymakers attempt to cushion the eurozone economy from the fallout of renewed trade tensions and sluggish domestic demand.The rate-setting council’s decision, announced at the ECB’s Frankfurt headquarters, comes after US President Donald Trump imposed fresh tariffs on European goods and threatened to raise them sharply in the absence of trade progress. Analysts had widely expected a rate cut, but uncertainty remains over how far the central bank will go in future meetings.According to the Associated Press, ECB President Christine Lagarde told reporters that upcoming monetary policy moves […]
[ad_1] US stocks traded slightly higher Thursday as investors awaited key employment data, while fresh signals of labour market softness stoked expectations of a rate cut later this year.The S&P 500 rose 0.2% in early trading, while the Dow Jones Industrial Average was up 48 points, or 0.1%. The Nasdaq composite also gained 0.2%. Investors are focused on the US Labour Department’s monthly jobs report due Friday, which is expected to show that employers added 130,000 jobs in May — down from 177,000 in April.According to the Associated Press, markets were responding to early signs of weakening momentum in the labour market, along with uncertainty tied to President Donald Trump’s on-and-off tariff policy. Analysts say concerns over hiring slowdowns may prompt the Federal Reserve to cut interest rates later this year.Earlier this week, a report by payroll provider ADP showed […]
[ad_1] AI image means for representation only Silver prices surged past $35 per an ounce on Thursday, buoyed by currency weakness, industrial appetite and safe-haven flows, with analysts suggesting the rally may not be over yet.Silver prices crossed the $35 mark per ounce and hit their highest level since March 2012, lifted by a mix of factors including a weaker US dollar, geopolitical tensions and robust industrial demand, according to experts quoted by ANI."With the trust in dollar decreasing, silver appears to be a good avenue for money to move to, and the gold-silver ratio was recently above 1.10, so the only way forward was either silver prices rise or gold prices fall. And that’s what has happened — silver has risen far more than gold," said Mrinesh Jain, Director, Bombay Bullion Metal Hub LLP.The gold-silver ratio, which shows how […]
[ad_1] Indian equities are trading at undervalued levels and offer a promising opportunity for patient, long-term investors, Morgan Stanley said in its latest report “India Equity Strategy Playbook.”It highlighted that the stock market has continued to be resilient since September 2024, despite global headwinds. Investors have faced a series of challenges, including overvaluations in small and mid-cap stocks, a broad market correction, volatility from US tariffs, and ongoing geopolitical tensions. Yet, India’s large-cap indices remained within 5% of record highs."It will require patience, given the potential for bad news from outside India, but we believe rewards will come in time," the report said, signalling cautious optimism.It attributed this positive outlook to India’s strong macro stability: improving terms of trade, a declining primary deficit, and low inflation volatility.Morgan Stanley also projected a mid-to-high teens earnings growth annually over the next three […]
[ad_1] Omnivore India Capital Trust and its advisor paid a settlement fee after missing the winding-up deadline by eight months, Sebi order showed.Omnivore India Capital Trust and Omnivore Capital Management Advisors have settled a regulatory case with Sebi by paying Rs 14.62 lakh over delays in winding up a venture capital fund, according to a settlement order passed on Wednesday, PTI reported.The matter pertains to a breach of Venture Capital Fund norms and Alternative Investment Fund rules, following an eight-month delay in liquidating the fund’s investments after its maximum permitted tenure expired.Sebi noted that the fund’s final close was on January 16, 2014, and its maximum allowed duration — after two extensions — ended on January 16, 2024. Regulations required the fund to complete its winding-up process within three months, by April 15, 2024.However, the actual winding-up happened on December […]
[ad_1] NEW DELHI: India's coal-fired electricity generation in May saw its steepest decline in five years, driven by a drop in overall power demand and a surge in renewable energy output, according to a Reuters analysis of government data. This marked the first fall in power demand since August and coincided with record-high generation from clean energy sources.The output from natural gas-powered stations also dropped significantly, marking the most substantial reduction in nearly three years, as revealed by Grid India data. This decline occurred alongside increased production from cleaner sources, including hydroelectric and nuclear facilities.This reduced requirement for fossil fuels in India's electricity sector, as the world's second-largest coal importer and fourth-biggest LNG purchaser, occurs during a period of market pressure on these fuel prices."Demand from the power sector - typically strong during peak season - remained limited. Additionally, economic […]
[ad_1] NEW DELHI: Shares of Eternal Ltd, the parent company of food delivery platform Zomato, surged nearly 6% on Thursday, extending its two-day rally to over 8%. The upward momentum followed Morgan Stanley reaffirming the company as its top sector pick. The brokerage firm kept its target price at Rs 320, suggesting a possible 33% upside from current levels. It also set a lower range of Rs 200-220, calling the stock a "compelling risk-reward profile" for long-term investors.At 12:30 PM, Eternal was trading at Rs 258.93, a 5.39% gain from its previous close of Rs 245.68. By 11:40 AM, it was trading at Rs 259.10 on BSE, up Rs 13.60 or 5.54%, while on NSE, it stood at Rs 259.49, rising Rs 13.81 or 5.62%.The shares opened at Rs 247.30 on the BSE and hit a high of Rs 260.15. […]
