The rupee ended flat at 87.58 against the US dollar on Friday, supported by foreign fund inflows and a weaker greenback, despite trade tensions with the US. The currency traded in a narrow range amid domestic equity weakness and concerns over President Trump’s tariffs, set to take effect later this month.
India’s foreign exchange reserves saw a significant decrease. The reserves dropped by $9.322 billion, reaching $688.871 billion. This decline occurred for the week ending on August 1. Foreign currency assets experienced a fall of $7.319 billion. Gold reserves also decreased by $1.706 billion. Special Drawing Rights and India’s reserve position with the IMF also witnessed…
Tata Motors’ Q1 FY26 net profit plummeted 62.2% to ₹4,003 crore, impacted by volume declines across segments and lower Jaguar Land Rover earnings. The absence of a one-time gain from the previous year also contributed to the drop. JLR revenue fell due to tariffs and model transitions. While PV sales declined, EVs remained a bright…
India’s vehicle retail sales experienced a 4.31% year-on-year decline in July, totaling 1.96 million units, attributed to weak consumer sentiment and a high base effect. While tractor sales surged by 11% due to favorable monsoon and farm subsidies, passenger vehicles and two-wheelers saw drops. Commercial vehicle sales remained nearly flat, influenced by heavy rainfall and…
New steel ministry regulations mandating BIS certification for imported raw materials like hot rolled steel and ingots are causing concerns among medical product manufacturers. Industry leaders fear potential supply disruptions due to the inability to comply with these rules, especially for specialized components like stainless steel capillary tubes.
Gold rate today: Gold futures soared to a record high of Rs 1,02,191/10 grams, while silver reached Rs 1,14,900/kg, driven by US trade tariff concerns and central banks’ safe-haven asset purchases. Experts attribute the surge to risk-averse strategies and global economic uncertainty.
India’s electronics sector anticipates potential losses of $20-30 billion due to impending US tariffs, particularly on semiconductors. While smartphone exports, dominated by Apple and Samsung, might receive exemptions, other electronics face significant tariffs. This shift could increase India’s reliance on smartphone exports, negatively impacting the broader electronics ecosystem and overall export diversification.
Despite increased US tariffs on crude oil trade with Russia, India is reassessing its market access offers to the US, aiming to finalize a trade deal this month. While committed to protecting its agricultural and dairy sectors, India is exploring improvements in other areas.
Nestle India has set August 8 as the record date for its first-ever 1:1 bonus share issue, a move aimed at boosting investor participation and market liquidity. Shareholders will receive one bonus share for each share held. While Q1FY26 profit dipped, revenue saw a 6% increase.
Gold price prediction today:Gold futures are experiencing an upward trend, driven by strong buying interest and a technical breakout. Analysts suggest a ‘buy on dips’ strategy, targeting entry points around ₹1,01,500 with a stop-loss at ₹1,00,800.
