New Delhi, March 12 (IANS) Indian oil marketing companies (OMCs) should be able to absorb average crude prices of up to around $90 per barrel over the medium term, supported in part by stronger refining margins, even as escalating tensions in West Asia raise concerns over global energy supply routes, a report said on Thursday.According to an analysis by CareEdge Ratings, the geopolitical situation notes that hostilities around the Strait of Hormuz have led to a sharp rise in crude prices since l…
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Mumbai, March 12 (IANS) Shares of InterGlobe Aviation Limited, the parent company of IndiGo airline, fell sharply on Thursday, after global brokerage firm Citi lowered its price target for the stock.The brokerage cut its target price by about 10.5 per cent to Rs 5,100 per share from the earlier Rs 5,700.Despite the reduction, Citi maintained its “buy” rating on the stock. The revised target still suggests a potential upside of around 17 per cent from the stock’s previous closing price.Acco…
Mumbai, March 12 (IANS) Gold prices in India traded slightly lower on Thursday, even as silver prices recovered from early losses and moved higher due to strong buying at lower levels.On the Multi Commodity Exchange (MCX), gold for April futures was trading at Rs 1,61,665 per 10 grams, down by Rs 124 or 0.08 percent.The precious metal had opened higher at Rs 1,62,799 per 10 grams compared with its previous close of Rs 1,61,789, but later pared its gains amid weak global cues.Experts said that st…
Mumbai, March 6 (IANS) The Indian equity markets saw sharp losses on Friday, amid the ongoing US–Israel and Iran war which entered seventh day.At the closing bell, Sensex declined 1,097 points, or 1.37 per cent to settle at 78,918. Nifty dipped 315 points, or 1.27 per cent, to close at 24,450. Nifty bank experienced tremendous pressure tanking 2.15 per cent to settle at 57,783.The broader markets performed in line with the benchmark indices, as Nifty Midcap 100 index lost 0.63 per cent, while …
New Delhi, March 4 (IANS) The governments of India and Sri Lanka should collaborate to transform Sri Lanka’s Northern Province into a high‑growth “Frontier Province” through introducing a specialised fast regulatory regime, a report said on Wednesday.A report from the Daily FT called for a ‘Northern Single‑Window Authority’ with powers to grant licences, work permits and environmental clearances within 30 days, along with 5-to-10-year preferential visas for Indian tech professionals.Fu…
New Delhi, March 4 (IANS) The Indian rupee breached a new record low on Wednesday, crossing Rs 92 per dollar as oil prices surged amid escalating geopolitical tensions in the Middle East.The domestic currency was trading at Rs 92.38 to the dollar, up 35 paise or 0.38 per cent from the previous session.Brent crude prices spiked to as much as $85 per barrel in recent days as military tensions between the United States, Israel and Iran intensified, the report further said.On Wednesday, WTI crude cl…
Patna, Feb 25 (IANS) Leader of the Opposition (LoP) Tejashwi Yadav on Wednesday launched a blistering attack on the Nitish Kumar government over the deteriorating law and order situation in Bihar. Speaking to reporters outside the Bihar Legislative Assembly premises, Tejashwi alleged that murders are taking place daily across the state and that the government has completely lost control over criminals.“Criminals have become completely unbridled. Whoever feels like shooting is shooting. The peo…
Mumbai, Feb 20 (IANS) The Indian equity benchmarks posted strong gains on Friday, led by gains in metals and PSU bank stocks.At the closing bell, Sensex gained 316 points, or 0.38 per cent to settle at 82,814. Nifty added 116 points, or 0.46 per cent, to close at 25,571.Nifty Midcap 100 index performed in line with the benchmark as it gained 0.48 per cent, while the NSE Smallcap 100 declined 0.11 per cent. Nifty Next50 surged 0.62 per cent.Sectoral indices traded mostly in the green except Nifty…
Mumbai, Feb 10 (IANS) The Indian equity markets posted moderate gains on Tuesday, rising for the third consecutive session, supported by strong Q3 earnings data from select companies.At the closing bell, the Sensex gained 208 points, or 0.25 per cent, to settle at 84,065. The Nifty surged 67 points, or 0.26 per cent, to close at 25,935.The broader markets posted stronger gains than benchmark indices, as the Nifty Midcap 100 index added 0.49 per cent, while the NSE Smallcap 100 surged 0.38 per ce…
Mumbai, Feb 9 (IANS) The Indian equity markets posted strong gains on Monday for the second consecutive session, buoyed by the announcement of an interim framework for the India–US trade deal.At the closing bell, the Sensex gained 485 points, or 0.58 per cent, to settle at 84,065. The Nifty surged 173 points, or 0.68 per cent, to close at 25,867.The broader markets posted stronger gains than benchmark indices, as Nifty Midcap 100 index added 1.58 per cent, while the NSE Smallcap 100 surged 2.6…