Friday, December 3

Month: May 2021

Fuel price hike | OMCs raise petrol prices by 28-29 paise, diesel by 26-28 paise on May 31
Commodity

Fuel price hike | OMCs raise petrol prices by 28-29 paise, diesel by 26-28 paise on May 31

By Administrator_India Capital Sands Oil Marketing Companies (OMCs) in India have raised petrol prices by 28-29 paise/litre and diesel prices by 26-28 paise/litre on May 31. Since May 3, fuel prices have cumulatively jumped by Rs 3.83/litre for petrol and Rs 4.42/litre for diesel after a series of consecutive price hikes over the month. Petrol is now priced at Rs 94.23/litre in Delhi, while diesel costs Rs 85.15/litre in the national capital. In Mumbai, petrol continued to cost more than Rs 100/litre at Rs 100.47/litre, while diesel is now at Rs 92.25/litre. Petrol price in the country's financial capital breached the Rs 100/litre milestone on May 29 after a Rs 0.25/litre hike. Fuel prices vary across states depending on local taxation like value-added tax (VAT). Rajasthan l...
Fuel price hike | OMCs raise petrol prices by 28-29 paise, diesel by 26-28 paise on May 31
Commodity

Fuel price hike | OMCs raise petrol prices by 28-29 paise, diesel by 26-28 paise on May 31

By Administrator_India Capital Sands Oil Marketing Companies (OMCs) in India have raised petrol prices by 28-29 paise/litre and diesel prices by 26-28 paise/litre on May 31. Since May 3, fuel prices have cumulatively jumped by Rs 3.83/litre for petrol and Rs 4.42/litre for diesel after a series of consecutive price hikes over the month. Petrol is now priced at Rs 94.23/litre in Delhi, while diesel costs Rs 85.15/litre in the national capital. In Mumbai, petrol continued to cost more than Rs 100/litre at Rs 100.47/litre, while diesel is now at Rs 92.25/litre. Petrol price in the country's financial capital breached the Rs 100/litre milestone on May 29 after a Rs 0.25/litre hike. Fuel prices vary across states depending on local taxation like value-added tax (VAT). Rajasthan l...
Brent nudges towards $70 a bbl on rosy US data, oil demand outlook
Commodity

Brent nudges towards $70 a bbl on rosy US data, oil demand outlook

By Administrator_India Capital Sands Oil prices pushed higher on Friday, supported by firm U.S. economic data and expectations of a strong rebound in global fuel demand in the third quarter, while concerns eased about the impact of any return of Iranian supplies. Brent crude futures for July gained 16 cents, 0.2%, to $69.62 a barrel by 0050 GMT while U.S. West Texas Intermediate crude for July was at $67.17 a barrel, up 32 cents, or 0.5%. "Oil headed higher on robust U.S. economic data and growing sentiment that if the Iran nuclear deal is revived, it will not include an immediate removal of sanctions and that the oil market will not get quickly flooded with excess supplies," OANDA analyst Edward Moya said in a note. Brent and WTI are both on track to post weekly gains of 5%...
Brent nudges towards $70 a bbl on rosy US data, oil demand outlook
Commodity

Brent nudges towards $70 a bbl on rosy US data, oil demand outlook

By Administrator_India Capital Sands Oil prices pushed higher on Friday, supported by firm U.S. economic data and expectations of a strong rebound in global fuel demand in the third quarter, while concerns eased about the impact of any return of Iranian supplies. Brent crude futures for July gained 16 cents, 0.2%, to $69.62 a barrel by 0050 GMT while U.S. West Texas Intermediate crude for July was at $67.17 a barrel, up 32 cents, or 0.5%. "Oil headed higher on robust U.S. economic data and growing sentiment that if the Iran nuclear deal is revived, it will not include an immediate removal of sanctions and that the oil market will not get quickly flooded with excess supplies," OANDA analyst Edward Moya said in a note. Brent and WTI are both on track to post weekly gains of 5%...
Vaccine Works On Strain Found In India, Says Pfizer, Insists On Indemnity
Coronavirus News

Vaccine Works On Strain Found In India, Says Pfizer, Insists On Indemnity

By Administrator_India Capital Sands New Delhi: Pfizer has told the government its Covid vaccine shows "high effectiveness" against the India-dominant variant of the virus experts believe is behind the devastating second wave of infections and deaths in the country, sources told news agency PTI Wednesday. Sources said Pfizer also told the government its vaccine had been proven suitable for everyone over the age of 12 and, crucially, can be safely stored for a month in cold storage facilities with a temperature range between two and eight degrees Celsius. The American pharma giant is in talks with the government fast-track approval and roll out five crore doses between July and October - if it receives significant regulatory relaxations, including indemnification, or protection ...
WhatsApp sues Indian govt, says new IT rules will end privacy
Business

WhatsApp sues Indian govt, says new IT rules will end privacy

By Administrator_India Capital Sands WhatsApp has filed a legal complaint against the Indian government in New Delhi seeking to block new IT regulations coming into force on Wednesday that experts say would compel the California-based Facebook unit to break privacy protections, sources said. According to the lawsuit WhatsApp has pleaded Delhi High Court to declare that one of the new rules is a violation of privacy rights in India's constitution since it requires social media companies to identify the "first originator of information" when authorities demand it. While the law requires WhatsApp to unmask only people credibly accused of wrongdoing, the company says it cannot do that alone in practice. Because messages are end-to-end encrypted, to comply with the law WhatsApp sa...
Stocks to watch: Grasim, Bal Pharma, GMM Pfaudler, Amara Raja, DHFL
Stock Market

Stocks to watch: Grasim, Bal Pharma, GMM Pfaudler, Amara Raja, DHFL

By Administrator_India Capital Sands Nifty futures on the Singapore Exchange traded 79 points higher at 15,280, indicatin a firm start for the benchmark indices on Monday. Here are the top stocks to track in today's session: Earnings Today: A total of 68 companies are slated to post their March quarter results today, including Alkem Labs, AstraZeneca Pharma India, Stove Kraft, Emami, Thermax and VIP Industries. Grasim Industries: The company reported a 13.3 per cent YoY rise in its consolidated net profit to Rs 2,616.64 crore for the fourth quarter ended March 31. Its revenue from operations during January-March 2021 jumped 26.1 per cent YoY to Rs 24,398.92 crore. DHFL: The committee of creditors of DHFL has challenged the National Company Law Tribunal (NCLT) order direct...
Oil prices rise as storm forms in Gulf, doubts emerge on Iran deal
Oil

Oil prices rise as storm forms in Gulf, doubts emerge on Iran deal

By Administrator_India Capital Sands Oil prices rose on Monday as a storm formed in the Gulf of Mexico and Iran said a three-month nuclear monitoring deal had expired, raising doubts about the future of indirect talks that could end U.S. sanctions on Iranian crude exports. Brent crude oil futures for July rose 32 cents, or 0.5%, to $66.76 a barrel by 0143 GMT, while U.S. West Texas Intermediate for July was at $63.93 a barrel, up 35 cents, or 0.6%. Oil prices fell last week after Iran's president, Hassan Rouhani, said the United States was ready to lift sanctions on his country's oil, banking and shipping sectors. "Iran's oil production has been rising in recent months, likely in anticipation of a lifting of the sanctions," ANZ analysts said in a note on Monday. However, ...
Toothpaste firm’s numbers show India Inc profits won’t survive costs, Covid
Business

Toothpaste firm’s numbers show India Inc profits won’t survive costs, Covid

By Administrator_India Capital Sands Lately, India has had very little to smile about. Something that Colgate-Palmolive Co.’s tepid growth in the world’s pandemic epicenter amply demonstrates. The toothpaste maker’s results this week offer a fresh look at a puzzle: the Indian stock market’s apparent disregard for the country’s worst humanitarian disaster in almost 75 years. Scientists are forecasting 1.2 million deaths by end-August, hospitals are running out of beds and oxygen, and bodies are being dumped in the Ganges river, yet the Nifty 50 index is trading at a price-to-earnings ratio of 31. Even after softening somewhat since February, valuations are still rich. In the Asia-Pacific region, only Australia, New Zealand and Singapore are more expensive. Colgate offers some sh...
Bitcoin struggles for footing on worries over China, leverage
Bitcoin

Bitcoin struggles for footing on worries over China, leverage

By Administrator_India Capital Sands Bitcoin and other digital assets languished in Asia on Thursday, recovering marginally from four-month lows but weighed down by concerns over tighter regulation in China and unease over massive leveraged positions in the cryptocurrency world. Bitcoin, the biggest and most popular cryptocurrency, rose slightly to $38,072 after plunging 14% on Wednesday to its lowest since late January. Smaller rival ether fell more than 3% on Thursday to $2,368, extending a 28% tumble on Wednesday. Wednesday's declines in both digital assets were their biggest daily percentage moves in more than a year as investors rushed to exit trades that until recently were heartily outperforming traditional markets such as stocks and bonds. The latest catalyst was ...