Business

[ad_1] HYDERABAD: After days of flirting with the Rs 1 lakh/10gm mark (24K) on the back of the Donald Trump-Xi Jinping slugfest, gold finally breached this psychological barrier for the first time in the Indian markets on Monday evening after the yellow metal scaled the $3,400/Oz mark to hit yet another all-time high of $3,430 in the international spot market."On Monday evening gold was selling at Rs 1,00,250 with taxes (3% GST) in the Delhi market," confirmed Yogesh Singhal, chairman of the Delhi-based All Bullion & Jewellers Association. On MCX too, prices of the yellow metal hit an all-time high of Rs 97365 (June futures). With this, gold has gained by 30% since Jan 1, 2025, and 14.5% since the April 8, 2025 low of $2982, pointed out Avinash Gupta, vice-chairman, All India Gem & Jewellery Domestic Council.Gupta pointed out […]

[ad_1] Gensol Engineering promoters Anmol and Puneet Singh Jaggi The Enforcement Directorate (ED) is preparing to question Gensol Engineering promoters, Anmol and Puneet Singh Jaggi, in connection with the ongoing investigation into the Mahadev Book app illegal betting and money laundering case, according to sources cited by the Economic Times. While formal summons have not yet been issued, the ED has frozen over 500,000 shares of Gensol Engineering. These shares were previously held by Dubai-based Zenith Multi Trading DMCC, an entity linked to accused Hari Shankar Tibrewal, an accused in the Mahadev betting app case. Investigators suspect that the shares were part of a scheme involving artificial stock price manipulation using tainted funds routed through foreign portfolio investors (FPIs). A senior government official stated, "The probe has revealed stock manipulation using tainted funds in the Mahadev app case, which were […]

[ad_1] Buy or sell stocks (AI image) Jefferies maintained its ‘hold’ rating on Eternal with a target price of Rs 255. Analysts feel that the company’s recent decision to cap foreign holding at 49% which is perhaps to protect from potential regulatory risks even while quick commerce models confirm the current laws.They feel the move will result in a cut in weightage by MSCI. They are unsure about what will happen if foreign shareholding goes past the new cap in the interim period.UBS has a ‘buy’ rating on HDFC Bank with a target price of Rs 2,250. Analysts feel during the Jan-March quarter, there was a slight beat on net profit while net interest margin (NIM) expansion was positive, deposit traction was healthy. The bank also showed a modest loan growth. They are more confident on the growth outlook given […]

[ad_1] NEW DELHI: Google has opted for a settlement with the Competition Commission of India (CCI) and payment of a penalty of Rs 20.2 crore in the Android TV issue, where the fairplay regulator found a prima facie case of abuse of dominant position by the global tech giant.This follows the two penalties that CCI previously slapped on Google, regarding its Play Store policies and its dominance in the Android operating system.In the TV case, Google filed a settlement application under Section 48A of the Competition Act, giving consent for a 'New India Agreement', under which it will provide a standalone licence for the Play Store and Play Services for Android smart TVs in India. This will remove the requirement to bundle these services or impose default placement conditions, CCI said. Additionally, by waiving the need for a valid Android […]

[ad_1] New Delhi: Govt on Monday imposed a 12% provisional safeguard duty for 200 days on five steel product categories to protect domestic players from surge in imports. The decision follows a recommendation for the same by the commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR). Last month, the DGTR suggested to impose the duty. Govt has set the import prices between $675 per tonne to $964 per tonne for the five steel product categories. Any shipment imported below these prices would attract the safeguard duty. It shall not be imposed on the product categories when imported into India at or above the speficied import price on cost insurance freight basis, as per the notification. agencies [ad_2] Source link

[ad_1] BENGALURU: Infosys is expanding its capabilities with a full-fledged global capability centre (GCC) practice and has appointed Deval Shah, the former MD and country head of India for Danske IT and Support Services India, as its new GCC leader, sources told TOI.Shah is currently the VP and delivery head at Infosys. Two years ago, Infosys won a $454-million contract from Danske Bank. As part of this, Infosys acquired Danske Bank's IT centre in India, which employs 1,400 professionals. Headquartered in Denmark, Danske Bank provides banking services to personal and business customers, as well as large corporate and institutional customers. Infosys is accelerating the bank's technology transformation, optimising their access to talent and capabilities, and improving productivity.In an internal note to employees, Infosys stated that as part of Project Altius, one of its key growth priorities is to win more […]

[ad_1] Monday's session added about Rs 6.25 lakh crore to investors' wealth, with BSE's marketcapitalisation now at Rs 425.9 lakh crore. This, in effect, lifted BSE's market cap above the $5 trillion mark again. The last time BSE's market cap was at this level was on January 20 this year. [ad_2] Source link

[ad_1] MUMBAI: Led by a significant rally in bank stocks, Dalal Street experienced a strong upsurge on Monday. The sensex reclaimed the 79K level, while the Nifty rose above the 24K mark, both after more than four months. The BSE bankex rallied over 2% to a new all-time high during the day’s session.The rally was driven by investors’ perception that, with a relatively smaller export share in global trade and a large domestic market, India could emerge mostly unscathed from the current global trade war, market players said. Banking stocks gained due to several tailwinds, such as the RBI’s liquidity infusion measures, a falling inflation rate, and expectations of an above-normal monsoon, combined, analysts noted.However, the sustainability of the rally on Dalal Street was clouded by evening after US markets opened deep in the red, anticipating a clash between US […]

[ad_1] SAN FRANCISCO: Finance minister Nirmala Sitharaman said India is "actively engaging" with the new US administration and hopes to conclude the first tranche of the bilateral trade agreement "positively" by fall (Sept-Oct) this year. "We are one of the countries, which is actively engaged with the new administration of the United States of America to see how best we can get a bilateral trade agreement done," she said during an interaction with the Indian diaspora here. Earlier this year, US President Donald Trump and Prime Minister Narendra Modi agreed to launch talks for a bilateral trade deal, amid the lurking fear of reciprocal tariff being imposed by Washington."Equally, the priority that we gave to engage with the govt here is more than obviously seen with the Prime Minister himself visiting the United States in Feb. You had the commerce […]

[ad_1] Bitcoin rebounded, reaching its peak level since Trump's "Liberation Day" tariff declarations, whilst the dollar weakened due to growing concerns about the US president's attempts to dismiss Federal Reserve Chairman Jerome Powell.The premier cryptocurrency's value increased approximately 3 per cent to exceed $87,600 on Monday morning in Singapore, as Bloomberg's data indicated. This recovery nearly reversed the decline experienced following Trump's April 2 reciprocal tariff announcement, which had caused widespread market disruption.The upward movement occurred alongside declining dollar values and US stock-index futures on Monday, following presidential criticism of the Federal Reserve that sparked worries about its autonomy. The dollar index fell to its lowest since January 2024 after National Economic Council Director Kevin Hassett revealed Trump's investigation into his authority to dismiss Powell.Bitcoin's upward trend coincided with gold's advancement to a new record, demonstrating investors' preference for assets […]