Business & Economy

New Delhi: Gold and silver prices in Delhi witnessed a sharp rally on Wednesday, touching new record levels. The surge was driven by a weaker US dollar and bullish trends in global markets. Silver, in particular, recorded its third consecutive day of gains, while gold also climbed to a new peak. Silver jumped ₹15,000 to reach ₹3,85,000 per kilogram on Wednesday. Earlier, it had risen by ₹40,500 on Tuesday. In just three sessions, silver has surged by a total of ₹65,000. Meanwhile, 99.9% pure gold rose ₹5,000 to hit a new record of ₹1,71,000 per 10 grams. Market experts attribute the rally to global uncertainties and growing tensions, prompting investors to seek safe-haven assets such as gold and silver. HDFC Securities Senior Analyst Somil Gandhi commented, “Gold and silver continue ...

New Delhi: Gold and silver prices continue to surge, breaking previous records. On Wednesday, gold rose nearly 4% while silver jumped about 6%, prompting jewelers to halt purchases as consumer demand drops sharply. Gold Hits New HeightsIn Mumbai’s spot market, 10 grams of 999-purity gold touched ₹1,59,027. This represents an increase of almost ₹5,000 in a single day, and prices have surged over 20% in January alone. Analysts attribute this rise to escalating geopolitical tensions worldwide and expectations of a U.S. Federal Reserve rate cut. Jewelers Stop BuyingVimal Goyal, President of the Delhi Bullion and Jewelers Welfare Association, said continuous price increases have forced jewelers to stop buying gold. Customers are also refraining from purchases, and jewelers are meeting dem...

New Delhi: The government may receive a massive ₹3 lakh crore cheque from the Reserve Bank of India (RBI) in the upcoming fiscal year. Most economists believe that RBI will once again make a large surplus transfer to the government for FY 2027, potentially exceeding last year’s ₹2.7 lakh crore transfer. In recent years, dividends from RBI have become a major source of non-tax revenue for the government. According to a report by Economic Times, Standard Chartered Bank has stated that the ratio of RBI’s dividend to GDP is likely to remain stable. However, if RBI reduces its Contingency Risk Buffer (CRB), the dividend could rise further. The CRB limit for FY 2026 was increased to 4.5–7.5% from the previous 5.5–6.5%. Standard Chartered noted, “If RBI lowers the CRB to 5.5% and increases dol...

New Delhi: Ahead of the Union Budget 2026-27 scheduled for 1 February, former RBI Governor Raghuram Rajan has offered strategic recommendations to Finance Minister Nirmala Sitharaman, urging that the budget adopt a long-term, integrated approach to make the Indian economy more resilient, independent, and growth-oriented. Rajan emphasized that in the current era of extreme global uncertainty, India should briefly distance itself from external pressures to assess and strengthen its domestic economic framework. He noted that while India previously had five-year plans, budgets were never fully integrated to achieve long-term goals. “Budget 2026-27 should focus on building a resilient and self-reliant economy capable of robust growth, ensuring that India remains an attractive partner glob...

New Delhi: Shares of Oil India soared to a 52-week high on Wednesday, closing at ₹492 on the BSE, up 9.6% in intraday trading. The stock has gained 13% over the past two sessions, driven by a sharp rise in global crude oil prices amid geopolitical tensions. Concerns over escalating conflicts between the U.S. and Iran, ongoing Russia-Ukraine tensions, and recent severe winter storms in the U.S. affecting oil production and exports have strengthened market sentiment. Brent crude futures rose 34 cents to $67.91 per barrel, hitting a four-month peak. The surge followed remarks by U.S. President Donald Trump, who announced that an additional U.S. naval fleet is moving toward Iran, raising speculation about potential military action. “Another beautiful fleet is heading toward Iran… I hope ...

Mumbai: Ahead of the presentation of the Union Budget for FY 2026–27 on February 1, India’s pharmaceutical and healthcare industry has called for higher tax incentives and stronger government support for research and development (R&D). The demand has been highlighted in a recent ET–PwC survey of senior industry leaders. R&D a Key Priority for Growth According to the survey, nearly three-fourths of CXOs believe that accelerating R&D is critical for sustaining growth and driving innovation in the pharmaceutical sector. Industry leaders have urged the government to offer enhanced tax deductions, targeted incentives, and greater support for drug discovery initiatives. The survey covered 40 CXOs from pharmaceutical companies with annual revenues ranging from ₹500 crore to o...

New Delhi: Billionaire entrepreneur Elon Musk is reportedly preparing to launch what could become the largest Initial Public Offering (IPO) in global history. According to a report by the Financial Times, Musk’s space exploration company SpaceX is planning to go public as early as June 2026, with an aim to raise nearly $50 billion. If the IPO materialises as expected, SpaceX’s valuation could soar to around $1.5 trillion, surpassing all previous records. The biggest IPO so far was that of Saudi Aramco, which raised $29 billion in 2019. At a valuation of $1.5 trillion, Elon Musk’s stake in SpaceX would be worth approximately $625 billion, potentially pushing his total net worth beyond $1 trillion—making him the world’s first trillionaire. According to the Bloomberg Billionaires Index,...

New Delhi: The Indian stock market witnessed a strong surge today following the historic trade agreement between India and the European Union (EU), described as India’s largest-ever trade deal. Investor sentiment soared, resulting in a significant boost to market wealth. The BSE Sensex jumped over 600 points in early trading, reaching 82,503, while the NSE Nifty 50 climbed past 25,350, gaining more than 150 points. This rally increased investor wealth by approximately ₹2.9 lakh crore, and the total market capitalization of BSE-listed companies rose to ₹456 lakh crore. By 11:00 AM, the Sensex was trading 406.53 points higher (0.50%) at 82,264.01, and Nifty was 115.20 points up (0.46%) at 25,290.60. Among Sensex stocks, Axis Bank, Eternal, and Adani Ports saw the highest gains, while A...

Maharashtra’s Deputy Chief Minister Ajit Pawar tragically lost his life this morning in a plane crash at Baramati. He was traveling on a Learjet 45 (LJ45), operated by an aviation charter company, which crashed during landing. Here’s a detailed look at the aircraft. Aircraft Ownership The plane belonged to VSR Aviation, also known as VSR Ventures, a Delhi-based air charter company that manages and operates business jets. Their fleet includes Bombardier Learjet 45 and 45XR aircraft. The registration number of the plane was VT-SSK. About VSR Aviation VSR Aviation provides charter services, aircraft management, and consultancy. Their fleet features multiple Learjet 45/45XR aircraft, with registration numbers including VT-DBL, VT-TRI, VT-VRV, and VT-CRA. Manufacturer and Models ...

The bullish momentum in gold and silver continued today, with both metals registering significant gains in early trading on MCX. Silver jumped over ₹21,000, while gold gained ₹5,000, reflecting strong investor demand amid ongoing global uncertainties. MCX Trading Highlights Silver: March delivery silver closed at ₹356,279 per kg in the previous session and opened today at ₹364,821 per kg. It reached an all-time high of ₹377,655 per kg, up ₹21,376 in early trading. By 10:00 AM, silver was trading at ₹376,163 per kg, a 5.58% gain. Gold: April delivery gold closed yesterday at ₹167,921 per 10 grams and opened today at ₹171,489, hitting an early high of ₹172,949 per 10 grams, up ₹5,028. At 10:10 AM, gold was trading at ₹171,415 per 10 grams, marking a 2.08% increase. Reasons Behi...