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August 27, 2024 New Delhi, India USDINR Analysis The Indian Rupee (INR) traded on a weaker note during Tuesday’s early European session. The local currency faced pressure from month-end demand for the US Dollar (USD) by local banks and corporations, as well as a surge in crude oil prices, which typically weigh on the INR….
August 16, 2024 New Delhi, India Crude Oil Import India’s crude oil imports from Russia have skyrocketed, with July 2024 witnessing a substantial $2.8 billion worth of purchases. This represents nearly 40% of India’s total oil imports, a sharp contrast to pre-war levels when Russian oil comprised less than 1% of the country’s imports. India,…
August 8, 2024 New Delhi, India WTI Price West Texas Intermediate (WTI) Oil has retraced its recent gains from the previous session, trading around $74.00 during the early European hours on Thursday. Despite the dip, crude oil prices might regain support from rising concerns about supply constraints due to ongoing geopolitical tensions in the Middle…
July 13, 2024 New Delhi, India India’s consumer price inflation (CPI) in June 2024 rose to 5.08%, reversing the declining trend of previous months. This increase was driven by a significant surge in food prices, especially vegetables and pulses, amidst an uncertain economic environment. This article delves into the factors influencing the inflation rate and…
June 14, 2024 New Delhi, India Daily Currency Market Update USDINR Trading Range: 83.51-83.67 The Indian Rupee closed flat, showing resilience despite the increased dollar demand from local oil companies and other importers. The Federal Reserve kept the funds rate unchanged, but its dot-plot projections indicated only a single 25 basis points rate cut this…
February 16, 2023 New Delhi, India India Adjusts Oil Taxes In response to the fluctuating global oil market, India’s Ministry of Finance has announced adjustments to oil taxes. Here’s a breakdown of the key changes: Marginally Raised Windfall Tax The windfall tax on the sale of domestic crude oil has been marginally increased to ₹3,300…
February 15, 2023 New Delhi, India US Stockpile Surge Pressures WTI Prices West Texas Intermediate (WTI) crude oil prices took a hit, dipping close to $75.0 per barrel, amidst a significant surge in US crude oil stockpiles. The Energy Information Administration reported an unexpected increase, with stocks rising by 12.018 million barrels to reach 439.5…
February 15, 2023 New Delhi, India Paytm’s share price Decline Attributed to ED Notices and RBI Action The share price of Paytm, India’s leading digital payments platform, plummeted to a fresh 52-week low today, continuing its downward trajectory amidst escalating regulatory challenges and revenue contractions. ED Notices Spark Investor Anxiety Investor confidence took a hit…
February 14, 2023 New Delhi, India Crude Oil Prices Rise Amid Middle East Tensions Crude oil prices saw a notable increase as tensions in the Middle East heightened, leaving markets on edge. The uncertainty surrounding conflicts in the region drove investors to seek refuge in commodities like oil, leading to a 1.87% gain in crude…
February 13, 2023 New Delhi, India Dividend Declarations Several prominent companies including Gulf Oil Lubricants India and Dr. Lal PathLabs have declared interim dividends for the financial year ending March 31, 2024. Dividend Details Gulf Oil Lubricants India announced an interim dividend of ₹16.00 per equity share, while Dr. Lal PathLabs approved ₹12.00 per equity…
