Business & Economy

New Delhi: Gold and silver prices recovered sharply today after three consecutive days of decline. On the MCX, silver gained over ₹33,000, while gold rose by approximately ₹9,198. At 2:10 PM, March delivery silver was trading at ₹2,68,250 per kilogram, up ₹31,989 from the previous session. Silver had fallen by ₹1.75 lakh over the last three days. The metal opened at ₹2,45,711, hit a low of ₹2,45,711, and surged to a high of ₹2,69,654 during early trading. Silver had previously touched ₹4 lakh per kilogram but had seen a significant correction in recent sessions. Gold also saw strong gains. It closed at ₹1,43,991 in the previous session, opened at ₹1,48,000 today, and reached a high of ₹1,53,290. At 2:10 PM, gold was trading at ₹1,53,189, up ₹9,198. International Prices In the g...

New Delhi: Indian rice exporters are optimistic following the announcement of a landmark trade deal between India and the United States. The agreement reduces U.S. tariffs on Indian goods, including rice, from 50% to 18%, giving Indian exporters a significant competitive edge. Impact on Basmati and Non-Basmati Rice The Indian Rice Exporters Association (IREF) has welcomed the development, noting that it places Indian rice on par with exports from Thailand and Pakistan, where tariffs are approximately 19%. This reduction provides substantial relief to exporters who previously faced high import duties in the U.S. market. Record Production Strengthens Export Potential India has recorded a bumper rice production of 149 million tonnes this year, ensuring strong availability for both...

New Delhi: Shares of the Adani Group surged today after the announcement of a long-awaited trade deal between India and the United States. Global brokerage firm Jefferies noted that the deal could significantly benefit companies under India’s third-largest industrial conglomerate. Adani Green shares jumped up to 13%, while flagship Adani Enterprises saw a 10% rise. Stocks of Adani Energy Solutions, Adani Ports, and Adani Total Gas gained between 6% and 8%. Impact of the Trade Deal Under the deal, U.S. tariffs on Indian goods have been reduced from 50% to 18%. Jefferies believes that this tariff cut will provide maximum benefit to the Adani Group’s companies. Domestic brokerage Antique Securities also listed Adani Power and Adani Ports among the top beneficiaries of the India-US tr...

New Delhi: Indian travelers returning from abroad can now bring more goods without paying customs duty. The government has increased the duty-free allowance by ₹25,000, effective immediately. This change applies to Indian residents and tourists arriving via air or sea. What the Government Decided The Ministry of Finance announced on social media that the Baggage Rules, 2026 have been notified. Under the new rules, Indian residents returning from abroad can bring goods worth up to ₹75,000 duty-free. This means travelers will not have to pay any customs tax on foreign goods up to this value. Previous Allowance Earlier, under the Baggage Rules, 2016, the duty-free limit was ₹50,000. The new rules, effective from 2 February 2026 midnight, supersede the old regulations and apply to ...

New Delhi: The Indian stock market witnessed a massive rally today following the announcement of the India-US trade deal. In early trading, the BSE Sensex surged by 3,500 points, while the Nifty 50 index jumped nearly 1,200 points. In just 15 minutes, the combined market capitalization of BSE-listed companies soared by ₹13 lakh crore, reaching ₹468.32 lakh crore. At 10:30 AM, the Sensex was trading at 83,983.70, up 2,317.24 points (2.84%), while the Nifty 50 rose 704.05 points (2.81%) to 25,792.45. Sector and Stock Performance Among Sensex constituents, significant gains were seen in Adani Ports, Bajaj Finserv, Reliance Industries, Infosys, Titan, Mahindra & Mahindra, Larsen & Toubro, Indigo, Sun Pharma, Trent, HCL Tech, and Maruti Suzuki, with prices rising between 3% and...

New Delhi: India, currently the second-largest steel producer in the world after China, is planning a significant increase in capital expenditure (Capex) in the steel sector for the financial year 2026-27. While the country produces around 205 million tonnes of steel annually, it still lags behind countries like Japan and South Korea in specialized steel production. Government-owned steel companies are set to play a key role in bridging this gap. According to Budget 2026 documents presented by Finance Minister Nirmala Sitharaman in Parliament, public sector steel companies are expected to significantly increase their investment in machinery, plants, and infrastructure. The total Capex for FY 2026-27 is projected to rise by approximately 44% to ₹25,125 crore, which is also expected to bo...

New Delhi: After a long wait, India and the United States have finalized a trade deal. U.S. President Donald Trump announced that tariffs on Indian goods will be reduced from 50% to 18%, providing much-needed relief to Indian exporters. The deal comes at a crucial time for sectors such as garments, leather, and footwear, which had been worried about the upcoming summer export season. While some smaller Indian companies had paused exports to the U.S., larger firms were offering heavy discounts to sustain their business. Key Highlights of the Deal The 25% additional tariff on Indian imports linked to Russia’s oil purchases will also be removed. President Trump confirmed that India has agreed to halt Russian oil imports. The deal takes into account India’s concerns while addressi...

Revathi Kamath’s Journey of Determination and Resilience New Delhi: The inspiring story of Revathi Kamath, mother of Zerodha co-founders Nikhil and Nitin Kamath, is a testament to perseverance and grit. Today, she leads a successful life, but her early journey was far from easy. Recently, she shared a story from her early days on social media that still brings tears to her eyes—a story not of wealth or status, but of struggle, courage, and life’s unexpected turns. Revathi Kamath began her career as a freelance florist, managing decor for banquet events. She recalls one incident that shook her deeply: after an event, her workers arrived late to remove the previous day’s decorations, and she was asked to pay a fine of ₹300. While this amount may seem small today, at the time, it was si...

Share Market Update: On Monday, the Indian stock market made a strong comeback after a slump on the Budget day. Both the Sensex and Nifty 50 closed with significant gains. The Sensex surged over 900 points, ending at 81,666.46, while the Nifty rose 262.95 points to close at 25,088.40. Market Drivers: The rally followed news of a trade deal between India and the United States. Under the deal, the U.S. reduced the reciprocal tariff on Indian goods from 25% to 18%, raising expectations of further market gains. Sector Performance: Infrastructure and auto stocks led the market gains. Key sector indices closed with the following increases: Nifty Infra: +2.26% Nifty Auto: +2.13% Nifty PSE: +2.04% Nifty Oil & Gas: +2.04% Nifty Metal: +1.88% Nifty Commodities: +1.87% ...

New Delhi: A stock that once turned investors into overnight millionaires is now inflicting heavy losses. Shares of Elcid Investments Ltd, which stunned the market in 2024 with an unprecedented price surge, have since been on a sustained decline, falling more than 25% over the past year. On Monday, the stock closed at ₹1,14,449.95, registering only a marginal recovery. A year ago, it was trading around ₹1,56,028. The stock has declined roughly 27% in 12 months, while slipping 9% over the past month and 17% in six months. From its all-time high of ₹3,32,399.95, the stock has plunged nearly 65%, erasing more than half of investor wealth. From ₹3 to Over ₹2.3 Lakh in a Day Elcid Investments had grabbed headlines in October 2024 after an extraordinary revaluation event. The stock pric...