Gold whizzes past Rs 31,000 level on heavy buying

Gold whizzes past Rs 31,000 level on heavy buying

Gold continued its ascent and today reclaimed the psychologically important Rs 31,000 per 10 gram mark at the domestic bullion hub on steady wave of speculative and stockists’ buying frenzy amid strong global sentiment.Significant increase in jewellery and investment demand against the backdrop of sliding rupee value also helped prices surge.The precious metal has been […]

Gold price surges to Rs 23,040 per sovereign

Gold price surges to Rs 23,040 per sovereign

Kochi: The gold price on Saturday surged to Rs 23,040, up by Rs 400, for a sovereign. A gram of gold is now at Rs 2,880. The hike in the price of gold in the global economy and the practice of merchants hoarding gold as an investment has caused the rise.

India Cements cuts capex to Rs 250 crore

India Cements cuts capex to Rs 250 crore

Mumbai:India Cements has cut its capital expenditure plan of Rs 300 crore by Rs 50 crore, company officials said on a recent earnings call. “The company’s current gross debt stands at Rs 3,230 crore and the company doesn’t intend to spend on capacity expansion in fiscal 2014. However, it may look at expansion over the […]

Sensex gains by 148 points in noon trade

Sensex gains by 148 points in noon trade

The BSE benchmark Sensex rose by 148 points to 18,937 points, a short while ago. Earlier, it gained 162 points to trade at 18,952 points in morning deals on buying by funds and retailers. The wide-based National Stock Exchange index Nifty moved up by 31 points to 5,597.

India’s foreign exchange reserves falls

India’s foreign exchange reserves falls

India’s foreign exchange reserves have fallen by 2.995 billion US dollars to 277.167 billion in the week ended 2nd August. RBI data released on Friday said that foreign currency assets, a major component of the forex reserves, have dropped by 2.155 billion US Dollars to 249.895 billion US dollars during last week, while gold reserves […]

Morgan Stanley says 35% chance of Sensex hitting 16,000

Morgan Stanley says 35% chance of Sensex hitting 16,000

Mumbai:Morgan Stanley says RBI’s cash tightening measures last month have made Indian shares much more vulnerable to global cues, especially the expected tapering of U.S. monetary stimulus.”As RBI’s moves echo into the economy, we believe that share prices in India are likely to fall led by banks,” Morgan Stanley said in a note dated Wednesday.Morgan […]

Rupee slips to 61.45, support measures awaited

Rupee slips to 61.45, support measures awaited

Mumbai:The rupee resumed its descent on Wednesday to move within sight of a record low hit a day earlier, with policymakers set to discuss fresh measures to defend the worst performing Asian currency of the year so far.Financial sector regulators, including Raghuram Rajan, who was on Tuesday appointed to take over next month as governor […]

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