Month: May 2018

The gold demand in India declined by 12 per cent in the first quarter of this year to 115.6 tonne compared to the same period last year due to high local gold price, the World Gold Council (WGC) said in a report. The total demand stood at 131.2 tonne in the January- March period in 2017, WGC said in its ‘Gold Demand Trends’ report for Q1 2018. In terms of value, the gold demand fell by 8 per cent to Rs 31,800 crore, compared to Rs 34,440 crore in the…

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After starting on a positive note, the benchmark BSE Sensex fell over 80 points in early trade today on weak Asian cues as tariff woes between the US and China returned, ahead of trade talks between the two countries. The 30-share index, after opening 80.89 points higher, turned negative on profit-booking at current levels to quote 86.59 points, or 0.22 per cent, lower at 35,089.83 The gauge had rallied 675.15 points in the previous four sessions The 50-share NSE Nifty also turned negative and shed 27.80 points, or 0.26 per…

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The government today approved a production subsidy of Rs 5.5 per quintal for sugarcane farmers to help cash-starved millers clear cane arrears that have surged to about Rs 20,000 crore due to sharp fall in sugar prices on record production. The Cabinet Committee of Economic Affairs has approved a production-linked subsidy of Rs 55 per tonne (Rs 5.5 per quintal) for cane farmers, sources said. The move also comes at a time when Karnataka, a leading sugarcane producing state, is going for polls on May 12. Welcoming the decision, industry…

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Sebi is examining the sharp plunge in shares of InterGlobe Aviation, parent of IndiGo, hours before it announced the resignation of its president Aditya Ghosh, officials said. The Securities and Exchange Board of India (Sebi) is probing a more than 6 per cent plunge in the country’s largest domestic carrier’s shares price on April 27. Hours after the market close that day, the airline announced the resignation of Ghosh at 7.56 pm. While his resignation as president is effective from July 31, Ghosh quit as a director of the company…

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