While the proposed Jio IPO drew significant attention, Ambani used the company’s annual shareholder meeting to lay out Reliance’s future growth strategy, identifying artificial intelligence as one of the most important pillars of the group’s next chapter.
Market regulator Sebi has greenlit several key reforms, including the return of open market share buybacks via stock exchanges, offering companies a faster execution route. Mutual funds will see relaxed intra-day borrowing norms, and alternative investment funds can now raise capital quicker through a new ‘GARUDA’ mechanism. Additionally, Sebi has simplified securities transfer after an
India’s foreign exchange reserves saw a significant dip of nearly $10 billion, reaching $671.625 billion in the week ending June 12. This sharp decline was primarily driven by a substantial drop in gold reserves, despite a modest increase in foreign currency assets. Other components like Special Drawing Rights and the IMF reserve position also registered
Indian markets snapped a five-day winning streak on Friday, with the Sensex and Nifty closing lower. A sharp selloff in IT stocks, sparked by Accenture’s reduced growth forecast, and renewed geopolitical concerns weighed on investor sentiment. The postponement of US-Iran peace talks added to the caution, prompting profit-booking after a recent rally.
India has initiated an anti-dumping investigation into Resorcinol imports from China and Japan. This key chemical is vital for tyre and rubber manufacturing. The probe follows allegations that low-priced shipments are harming domestic producers. The Directorate General of Trade Remedies is conducting the investigation. If dumping is confirmed, anti-dumping duties may be recommended to ensure
The BSE Sensex, comprising 30 stocks, ended the session 607.08 points, or 0.78%, lower at 76,802.90. During intraday trade, the index had fallen as much as 940.26 points, or 1.21%, touching 76,469.72.The NSE Nifty closed down 154.90 points, or 0.64%, at 24,013.10.
India and the UK will enter into a Comprehensive Economic and Trade Agreement on July 15, deepening ties beyond trade and technology to foster new opportunities for businesses and people. This pact aims to significantly boost annual bilateral trade from its current £48 billion.
Andhra Pradesh is set to become India’s leading gold supplier, with significant reserves identified in Kurnool district. Jonnagiri village alone is estimated to hold 50 tonnes of gold. Commercial production has commenced, and further exploration is expected to boost reserves. The state aims to leverage private investment for this substantial mining endeavor.
Gold price prediction today: Gold prices are showing some signs of recovery, and Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities recommends a buy on dips strategy:
