Market News
Stay updated with the latest market trends, earnings, and economic indicators.
Government raises import duty on gold and precious metals
The government on Wednesday hiked import duties on gold and silver to 15 per cent from 6 per cent as part of measures to curb inbound shipments of precious metals amid a rising import bill due to the West Asia crisis, the finance ministry notified. The revised rates came into effect on 13 May. Days after Prime Minister Narendra Modi's clarion call for curbs on gold purchases, along with other austerity measures to save on foreign exchange, the Finance Ministry, in a notification, hiked the social welfare surcharge (SWS) and the agriculture infrastructure and development cess (AIDC), effective May 13. The duty hikes will raise the overall customs duty on gold to 15 per cent. Separately, the Finance Ministry also revised customs duty rates for precious metal findings and recyclable precious metal waste. Under the revised structure, gold and silver findings will attract a 5% customs duty, while platinum findings will face a 5.4% duty. Imports of spent catalysts or ash containing ...
Gold rate today: MCX gold rate jumps above ₹1.62 lakh per 10 grams, silver price rallies 6% after import duty hike
Gold rate today: The central government has raised import tariffs on gold and silver to 15% from 6% in an effort to reduce overseas purchases of precious metals and ease pressure on foreign exchange reserves.
Don't buy gold for 1 year? These Nifty500 stocks outperformed bullion
India raised gold import duties to 15% as Modi recommended postponing purchases amid foreign exchange concerns. Despite gold's recent surge, equities outperformed in returns, emphasizing the potential for better long-term gains in sectors like power and manufacturing.
India’s gold import duty hike to 15% may remain for a year, says Senco MD Suvankar Sen
India's higher import duty on gold and silver could impact jewelry demand for a year, Senco MD Suvankar Sen said. Senco Gold predicts volumes may drop 10-15 percent and consumers may opt for lighter jewelry. This move aims to conserve foreign exchange reserves and protect economic stability amid global uncertainty.
India raises gold import duty back to 15%: What’s behind the move
India has significantly raised import duties on gold, silver, and platinum. This move aims to safeguard the nation's economy and foreign exchange reserves. The government prioritises essential imports like crude oil and fertilisers. This decision reflects a proactive approach to manage external risks.
GoI raises customs duty on gold and silver. What does it mean for MCX gold, silver rates
The Indian government has increased import duties on gold and silver to 15% to curb foreign purchases and protect foreign exchange reserves. This may dampen demand and support the rupee, but experts warn it could also lead to increased smuggling.
India raises gold and silver tariffs to 15% to curb imports, support rupee
India has raised import duties on gold and silver to 15% from 6% to curb imports and reduce pressure on foreign exchange reserves. The new structure includes a 10% basic customs duty and a 5% Agriculture Infrastructure and Development Cess.
Jewellery Retailers Recommend Exchange, Recycling Of Gold In Lieu Of Reducing Purchases
PNG Jewellers' Chairman and Managing Director said that currently most purchases involve recycling.
Unique Picks: 6 stocks held by only one MF scheme in April, falling up to 40% in CY26
An analysis of mutual fund portfolios revealed 29 stocks held exclusively by single schemes, with most underperforming in CY26. However, Satin Creditcare Network, Rossell Techsys, and Amanta Healthcare bucked the trend, delivering strong returns. Brooks Laboratories and EFC (I) were among those experiencing significant declines.
Amid PM Modi's 'no gold buy' appeal, a scheme that planned mobilisation of idle gold at homes gets spotlight
The gems and jewellery sector is urging the government to strengthen the Gold Monetisation Scheme. Industry bodies believe domestic gold mobilisation and recycling offer a better solution to foreign exchange issues. They suggest this approach over deferring gold purchases, which could impact millions of livelihoods.
Lockdown in India? Oil Minister Hardeep Singh Puri reacts amid PM Modi's 'save petrol, diesel' appeal
Amidst West Asia conflict and Prime Minister Modi's appeal for fuel conservation, Oil Minister Hardeep Singh Puri stated there are no plans for a lockdown. LPG production has been significantly increased, and the government is urging citizens to adopt measures like work from home and reduce consumption of gold and foreign travel to save foreign exchange and foster self-reliance.
Fuel prices likely to increase in a phased manner, says Invesco's Taher Badshah
Taher Badshah, CIO at Invesco Mutual Fund, said fears around AI disrupting Indian IT companies may be overstated, noting that enterprise AI adoption remains costly and could eventually create service opportunities for Indian IT firms. Badshah added that valuations in the technology sector have corrected sharply, making select IT stocks attractive from a value-investing perspective.