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Union Cabinet has approved revival package of over Rs 1.64 Lakh crore for Bharat Sanchar Nigam (BSNL). It has also approved the merger of Bharat Broadband Network and BSNL. Revival measures focus on infusing fresh capital for upgrading BSNL services, allocating spectrum, de-stressing its balance sheet, and augmenting its fiber network by merging Bharat Broadband Nigam Limited (BBNL) with BSNL. With these measures, BSNL will […]

According to the World Gold Council, the second quarter's worldwide gold demand was down 8% from the same time in 2021 due to a substantial decline in investor purchases.

The World Gold Council or WGC noted in latest Gold demand trends update that world Gold demand (excluding OTC) was 8% lower y-o-y at 948t. Demand for the first half of the year was up 12% to 2,189t. Gold ETFs gave back some of their strong Q1 gains. Global holdings fell by 39t during the quarter, following the 273t of Q1 inflows. &8202; Central banks […]

Tata Motors: The auto major reported consolidated net loss of Rs 5,006.60 crore in Q1 FY23 as against a net loss of Rs 4,450.92 crore in Q1 FY22. Revenue from operations increased 8.3% YoY to Rs 71,935 crore during the quarter ended 30 June 2022. EBITDA stood at Rs 5,307 crore in Q1 FY23. EBITDA margin in Q1 FY22 was 7.4%, down 90 bps. Biocon: […]

Union Cabinet on Wednesday (27 July 2022) approved a project for saturation of 4G mobile services in uncovered villages across the country at a total cost of Rs 26,316 crore. The project cost includes capex and five-year opex. The project will provide 4G mobile services in 24,680 uncovered villages in remote and difficult areas. The project has a provision to include 20% additional villages on […]

The Indian rupee is expected to see good recovery on the back of sharp weakness in the US dollar overseas. The dollar index is languishing near a week low at 106.08, tracking lower treasury yields following Fed rate decision. The Federal Reserve on Wednesday announced its decision to raise interest rates by 75 basis points. The Fed said it decided to raise the target range […]

Softening dollar overseas supported gains in copper to its best level in more than two weeks on Thursday. COMEX copper was up 0.75% at $3.49 per pound. US stocks showed a significant rebound and accelerated to the upside following the Federal Reserves monetary policy decision of another 75 bps rate hike. Equities showed a substantial move back to the upside on Wednesday with the Dow […]

The price of 10 grams of 22-carat gold has dropped by Rs130 to Rs46,450 today.

Ahead of the FOMC statement on 27th July, the debate was centred around whether the Fed would hike rates by 75 bps or 100 bps.

The US shares strongly rebounded on Wednesday, 27 July 2022, with major averages all finishing solidly higher, as the Federal Reserve raised its key interest rate by another 75 basis point interest rate, as widely expected, and as Jerome Powell hinted at a slowdown in the pace of rate hikes at future meetings. The market was also boosted on Wednesday by quarterly updates from Microsoft […]