Business

Mumbai | February 3: Indian stock markets witnessed a sharp rally on Tuesday as benchmark indices ended significantly higher following the announcement of a trade deal between India and the United States. Under the agreement, the US will reduce reciprocal tariffs on Indian goods to 18 per cent, boosting investor sentiment. The 30-share BSE Sensex opened on a positive note and surged to an intraday high of 85,871.73, climbing 4,205.27 points or 5.14 per cent. It later settled at 83,739.13, up 2,072.67 points, marking a 2.54 per cent gain. Meanwhile, the 50-share NSE Nifty mirrored the uptrend, rising 639.15 points or 2.55 per cent to close at 25,727.55. During the session, it hit a peak of 26,341.20, registering a 4.99 per cent intraday gain of 1,252.8 points. The surge reflects re...

Shares of Ola Electric Mobility Limited continued to slide on Tuesday, closing at ₹31.04, down over 2.5% on the BSE. Over the past month, the stock has lost nearly 29%, raising concerns among investors about further declines. Analysts’ ViewsMarket experts suggest that the stock may continue to face downward pressure. According to Osho Krishnan, Senior Analyst – Technical and Derivative Research at Angel One, “The stock has seen a significant fall, and indicators suggest it could drop further to ₹26–25. On the upside, resistance levels are observed at ₹35–38, with a strong resistance zone at ₹40–42.” Technical Trends Point to Further WeaknessDrumil Withlani, Technical Analyst at Bonanza, notes that Ola Electric shares are in a consistent downtrend on the weekly chart. “Whenever the st...

Elon Musk has added another company to the trillioneaire club. The billionaire recently merged his AI startup XAI with his rocket company SpaceX, boosting SpaceX’s valuation to $1.25 trillion. This makes it the 11th most valuable company in the world, joining Tesla in Musk’s growing empire. Merger Details and ValuationThe merger combines Musk’s space exploration and AI ventures under a single umbrella. Reports indicate that SpaceX is preparing for an IPO in the coming months, which could value the company at $1.75 trillion, potentially making it the largest IPO in history. For comparison, the previous record was held by Saudi Aramco, which raised $29 billion in 2019. Global Rankings of Most Valuable CompaniesCurrently, the world’s most valuable publicly listed companies are: NVID...

New Delhi: Shares of Reliance Industries, led by India and Asia’s wealthiest businessman Mukesh Ambani, witnessed a significant jump today after a long lull. During trading, the stock surged by up to 7% on the BSE, reaching ₹1,489, driven by optimism following the India-US trade deal announcement. US President Donald Trump hinted at renewed oil purchases from Venezuela, signaling potential benefits for Reliance, whose refining infrastructure is well-suited for processing heavy Venezuelan crude. India had not imported oil from Venezuela since May last year, but market expectations are now shifting toward resuming these imports. Why Reliance Is Poised to Benefit According to Kpler, Indian firms purchased an average of 70,000 barrels of Venezuelan crude daily in 2024. Venezuelan oil,...

New Delhi: Adani Group, led by Gautam Adani, is making significant strides in India’s defence manufacturing sector. Its subsidiary, Adani Defence & Aerospace, has signed a landmark agreement with Italy’s aerospace giant Leonardo to establish a comprehensive ecosystem for manufacturing advanced helicopters in India. This follows the company’s earlier plans to produce airplanes domestically. Boosting ‘Make in India’ in Aerospace The partnership aims to strengthen India’s self-reliance in defence aviation under the government’s Make in India initiative. The collaboration will set up an end-to-end ecosystem in India for the production, maintenance, and training related to advanced helicopters. This initiative is expected to meet the Indian Armed Forces’ helicopter requirements while ...

New Delhi: After months of negotiations, India and the United States have finalized a highly anticipated trade deal, being hailed as the “Father of All Deals.” The agreement sets a target of $500 billion in bilateral trade by 2030 and includes a detailed “wish list” from the U.S. regarding products India may purchase. Key Highlights of the Deal U.S. President Donald Trump personally announced the agreement, stating that U.S. tariffs on Indian goods have been reduced from 25% to 18%. Trump further expressed hope that India could purchase up to $500 billion worth of U.S. products, including agricultural items. The opposition raised strong objections in Parliament over the deal. According to a Reuters report citing a government official, India has agreed to buy petroleum, defense equ...

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 ...