Market News
Stay updated with the latest market trends, earnings, and economic indicators.
India asks US for Russian waiver extension as Iran war drags on
India has requested the United States to extend its waiver on Russian oil imports. This comes as the ongoing conflict in the Persian Gulf impacts global energy supplies. India emphasises that securing energy supplies remains a top priority for its citizens. Indian refiners are increasing Russian oil imports before the current waiver expires.
Brace for higher gold prices and supply boom in grey markets after customs duty hike: SBI report
15% customs duty hike on gold imports is expected to raise domestic prices and potentially divert supplies through unofficial channels, according to SBI Research. This move could impact India's current account deficit, though gold's role as the sole driver is debated. Import volumes are projected to decline.
Rupee may slide to 96-98 by December-end amid oil shock: Mint poll
Most economists expect the rupee to depreciate 3-4% in the current financial year if crude oil prices remain elevated.
Drug regulator drafts guidelines on high-risk solvents after tainted syrup deaths in kids
India's drug regulator is creating new rules for dangerous solvents in children's medicines. This follows tragic deaths linked to contaminated cough syrups. Experts found these solvents can contain toxic impurities. The regulator is consulting with companies to assess current practices and explore safer alternatives. This action is vital after several children died from Indian-made cough syrups.
HPCL prepares for a challenging start to FY27; Here are key takeaways from its earnings call
HPCL said on the earnings call that it has ensured two months of secured crude supply at any given time, meaning that the current coverage extends till July.
Simca Advertising IPO allotment in focus today; latest GMP, 6 steps to check status
Simca Advertising IPO allotment will be finalised on 13 May. Investors can check the status on MUFG Intime India Pvt. Ltd. 's portal. The IPO opened on 8 May and closed on 12 May, with a current grey market premium indicating a listing price of ₹192.
Petrol, diesel price hike in India a matter of time if Middle East conflict persists: RBI Governor Sanjay Malhotra
India faces potential retail fuel price hikes if the Middle East conflict persists. RBI Governor Sanjay Malhotra indicated this possibility due to rising energy import costs and inflation risks. The government has already reduced duties and state refiners are absorbing losses. Prime Minister Modi urged citizens to conserve fuel. Oil companies are struggling to maintain current prices.
‘Time for alpha’: Motilal Oswal AMC CEO sees these sectors leading next market cycle
Motilal Oswal AMC MD & CEO Prateek Agrawal said the current market environment favours active investing and emerging growth sectors over traditional index-heavy plays. Agrawal also said gold duty hikes were less severe than expected and added that mutual fund inflows remain stable despite market volatility.
L&T wins 'significant' orders in West Asia for extra high voltage substations
L&T reported its fourth quarter results a week ago. It guided for 10-12% revenue growth for the current fiscal, similar margins to FY26 at 8.3% and 10-12% growth in order inflow. It expects the first and second quarters to witness disruptions due to delayed shipments.
Sensex to hit 89,000? Why Morgan Stanley is betting big on India Inc after 6-quarter slowdown
Morgan Stanley has turned more bullish on India, forecasting the BSE Sensex could rise to 89,000 by June 2027, implying around 15% upside from current levels. Strategist Ridham Desai said India is emerging from a six-quarter earnings slowdown into a stronger growth phase after a “mid-cycle” pause.
India prioritises forex for crude, defence imports as govt hikes gold, silver duty
India raises customs duty on gold, silver and platinum to curb non essential imports, conserve foreign exchange and protect the current account amid West Asia tensions.
‘How long can oil companies absorb losses?’: Hardeep Singh Puri on fuel prices
Speaking about the potential hike in fuel prices, India's Oil Minister Hardeep Puri reassured the public while acknowledging the pressure on oil companies. The minister highlighted the importance of proactively addressing the economic strain caused by current fuel pricing strategies.