India’s foreign exchange reserves experienced a significant decline of $6.93 billion, falling to $695.35 billion in the week ending October 24. This drop was primarily driven by a decrease in foreign currency assets and a notable reduction in gold reserves. The overall reserves had previously seen an increase in the preceding week.
The Economic Advisory Council to the Prime Minister’s Chairman, S Mahendra Dev, urged India to accelerate free trade agreement negotiations and expand export markets beyond traditional partners. He emphasized maintaining dialogue with the US for a Bilateral Trade Agreement, despite recent trade friction.
The Centre’s fiscal deficit reached 36.5% of its full-year target by the end of the first half of FY26, a notable increase from 29% in the previous year. This gap, representing the difference between expenditure and receipts, amounted to Rs 5.73 lakh crore. Total receipts for the period stood at Rs 16.95 lakh crore, covering…
Lenskart’s Rs 7,278-crore IPO was fully subscribed on its first day, attracting significant interest from institutional and retail investors. The company has already raised Rs 3,268 crore from anchor investors and plans to utilize the IPO proceeds for store expansion, technology investments, and potential acquisitions. Lenskart is scheduled to list on stock exchanges on November…
Maruti Suzuki reported an 8% rise in consolidated net profit to Rs 3,349 crore for the September quarter, driven by record export growth. Despite a 5.1% dip in domestic sales, overall sales volume increased by 1.7%, with exports surging 42.2% to a new quarterly high. The company also achieved its highest-ever quarterly net sales.
Despite US pressure, Indian Oil Corporation has ordered five Russian crude oil shipments for December delivery from non-sanctioned entities. While some Indian refiners have suspended purchases due to sanctions, IOC plans to continue procuring Russian crude as long as it complies with regulations.
China has resumed shipments of heavy rare earth magnets to India, providing relief to key manufacturing sectors. However, these crucial supplies come with a strict condition: the cargo cannot be re-exported to the United States, amidst ongoing trade tensions between the two global powers.
Ford Motor Company is set to restart manufacturing in India. The automaker will invest Rs 3,250 crore in its Chennai facility. This move marks a significant return after exiting vehicle production in 2021. The plant will focus on engine manufacturing for export. Production is scheduled to begin in 2029. This project is expected to create…
Asian markets showed a mixed performance Friday, with Japan’s Nikkei surging while Chinese stocks dipped following Wall Street’s retreat from record highs. Despite positive remarks from President Trump on US-China trade talks, lingering disputes and disappointing Big Tech earnings weighed on investor sentiment. Oil prices also saw a slight decline.
Gold price prediction today: Gold prices are expected to trade within a defined range with a neutral outlook, according to LKP Securities. Analysts suggest a ‘buy on dips’ strategy for investors, targeting specific price levels. The market is currently consolidating, awaiting key economic data and US dollar movements for direction.
