Gold prices in the national capital soared to Rs 1,00,770 per 10 grams, driven by a weaker rupee and strong global trends. Silver also experienced a significant rally, reaching an all-time high of Rs 1,18,000 per kg. The surge was fueled by concerns over US Federal Reserve independence and potential tariffs on Indian goods, prompting…
India Ratings and Research (Ind-Ra) anticipates minimal credit profile impact on Indian pharma companies from potential US tariffs on pharmaceutical imports. While the US accounts for a significant portion of revenue for these companies, its contribution has been declining.
US consumer confidence dipped slightly in August, fueled by persistent worries about the labor market. The Conference Board’s index fell to 97.4, reflecting weakened short-term expectations for income, business conditions, and employment.
Global parcel flows to the US are disrupted as 25 countries halt shipments, driven by fears over President Trump’s impending tariffs. The Universal Postal Union confirmed the suspensions, triggered by uncertainties related to transit services after the US scrapped duty-free entry for low-value packages. Australia Post and Japan Post are among those affected, while FedEx…
India’s readymade garment industry faces a slowdown, with revenue growth projected to decrease due to tariffs impacting US exports. While domestic demand offers some cushion, profitability is expected to decline. Exporters are shifting focus to other markets like the EU and UK, hoping the FTA with the UK will provide relief.
HDFC Bank’s shares underwent a technical price adjustment after commencing trading ex-bonus on Tuesday, following a 1:1 bonus share distribution aimed at enhancing liquidity and broadening retail investor participation. Shares opened 62% lower, reflecting the increased share count, while the bank maintained its market capitalization and shareholder value. The record date for bonus share eligibility…
Indian refiners plan to slightly decrease Russian crude oil imports in the coming weeks. While maintaining energy ties with Moscow, projected purchases will fall from 1.8 million barrels per day to between 1.4 and 1.6 million. The US has criticized India’s increased reliance on Russian oil.
Ganesh Chaturthi leads to bank closures on August 27 in several states including Gujarat, Maharashtra, and Tamil Nadu, with online services remaining accessible. Further closures are scheduled for Nuakhai and Ganesh Chaturthi in Odisha and Goa, respectively. Customers should note upcoming nationwide holidays in October for Gandhi Jayanti and Diwali, impacting in-person banking services.
The US has imposed 50% tariffs on Indian exports, effective August 27, 2025, which may significantly impact MSMEs. Gems and jewellery, textiles, seafood, chemicals, and auto components sectors will be most affected.
Suzuki Motor Corporation is set to invest Rs 70,000 crore in India over the next five to six years to boost its operations. This announcement coincided with the launch of Maruti Suzuki India’s e VITARA export program to 100 countries and the inauguration of lithium-ion battery cell production for hybrid vehicles.
