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Aditya Birla Group to invest $500 million in Vodafone Idea as revival signal strengthens
Aditya Birla Group is injecting ₹4,730 crore into Vodafone Idea (Vi) through a preferential allotment, bolstering the telecom operator's financial standing. This capital infusion follows Kumar Mangalam Birla's return as chairman and aims to support Vi's efforts to compete with rivals Reliance Jio and Bharti Airtel.
Import tariff values for gold, silver raised
India's customs board has increased import tariff values for gold and silver. This move aims to manage import costs due to global commodity price changes. Edible oils like palm and soybean oil also see minor adjustments. These new valuations will be effective from May 16, 2026. Policymakers are also looking to control pressure on foreign exchange reserves.
India Amends Tariffs On Gold, Silver And Palm Oil
Gold, in any form, now has a tariff value of $1,508 per 10 grams and similarly, silver now has a tariff value of $2,810 per kilogram.
COMEX gold falls over 1%, silver tumbles nearly 4% amid inflation worries
Gold and silver prices slide as rising crude oil, a stronger US dollar and prolonged high interest rate fears weigh on investor sentiment and bullion demand.
INR stays pressured amid elevated international oil prices
The Indian rupee slipped back and is hovering around record low levels in opening trades on Thursday as international oil prices ticked higher. INR opened at 95.74 per dollar and hit a low of 95.79 so far during the day. Yesterday, the unit hit an all-time low of 95.80 against the US dollar, and settled at 95.67 near its record closing low level amid elevated crude prices and West Asia geopolitical concerns. The rupee has become the worst-performing currency in Asia for the year, registering a loss of over 6 per cent so far this year, as elevated crude oil prices, a strong dollar and concerns regarding the West Asia crisis weighed on investor sentiments. Govt action of hiking import duties on gold and silver to 15 per cent failed to give much respite to the local unit. Moreover, Indias consumer price inflation in April rose for the sixth straight month to 3.48% from 3.40% in March. Food inflation, a key constituent of the countrys consumer price index, hit 4.2%, up from 3.87% in ...
INR settles near record low level amid inflationary concerns
The rupee on Wednesday slipped to an all-time low of 95.80 against the US dollar, and settled at 95.67 near its record closing low level amid elevated crude prices and West Asia geopolitical concerns. The rupee has become the worst-performing currency in Asia for the year, registering a loss of over 6 per cent so far this year, as elevated crude oil prices, a strong dollar and concerns regarding the West Asia crisis weighed on investor sentiments. Govt action of hiking import duties on gold and silver to 15 per cent failed to give much respite to the local unit. Moreover, Indias consumer price inflation in April rose for the sixth straight month to 3.48% from 3.40% in March. Food inflation, a key constituent of the countrys consumer price index, hit 4.2%, up from 3.87% in March, Indias Ministry of Statistics and Program Implementation said in a release.
Rupee slips to all-time low of 95.80 against dollar amid oil, forex pressure
Rupee hits all-time low of 95.80 against US dollar, early gains fade despite higher gold and silver import duties, outlook tied to oil and dollar trends.
Rupee opens 2 paise higher at 95.61 against the US dollar
The rupee opened at 95.61 against the US dollar, aided by increased import duties on gold and silver. However, elevated oil prices and US inflation could limit gains. India raised tariffs to reduce demand and support the currency amid a trade deficit exacerbated by rising crude prices.
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.
Sensex Today | Stock Market LIVE Updates: GIFT Nifty hints at volatility and muted start to trade; Dixon in focus
Sensex Today | Stock Market LIVE Updates: There are news triggers to react to this morning. First, the increase on customs duty for gold, silver and other precious metal imports. Second, a 13-month high inflation print, and third, of course, being results. There is no let-off in oil prices, which remain near the $108 a barrel mark.
Gold, silver advance as Fed rate outlook supports safe-haven demand
Gold and silver rose in Asia on US-China summit and Iran tensions, oil eased, US inflation hit a three year high, Kevin Warsh joined the Fed, India hiked gold and silver import tariffs.
Gold, silver rates today: Comex gold drops $67/oz; silver tumbles $2.2/oz amid rising oil prices and higher inflation
Gold and silver prices fell on May 12 due to rising Middle East tensions, higher crude oil prices, and a stronger US dollar. Gold dropped to $4,660 per ounce, while silver fell to $83.67. US inflation reached 3.8%, complicating the Federal Reserve's policy decisions.