Business

Gold and silver prices declined on Thursday after the government increased import duty to 15 per cent, triggering profit booking in precious metals. Despite volatility, analysts remain cautiously bullish on gold and silver due to safe-haven demand and ongoing geopolitical uncertainties in global markets 

Cisco will cut fewer than 4,000 jobs globally as part of a restructuring plan focused on artificial intelligence and high-growth technologies. The company cited stronger AI-linked demand, raised its outlook, and reported quarterly revenue growth while expanding investments in security, silicon and optics

Indian equity markets traded higher despite rising crude oil prices and geopolitical tensions, led by gains in pharma and banking stocks. Sensex and Nifty climbed over 0.6 per cent, while IT shares lagged amid rupee concerns, FPI selling pressure and global market uncertainties

Inox India Ltd reported a 15 per cent increase in consolidated net profit to Rs 75.23 crore in the March quarter of FY26, driven by higher income. The company’s quarterly revenue also rose significantly compared to the corresponding period last year

Crude oil futures rose by Rs 29 on the Multi Commodity Exchange as traders increased positions amid firm spot demand. Global crude benchmarks, including Brent and West Texas Intermediate, also traded higher during Wednesday’s session, supporting the positive trend in domestic futures markets

Think tank GTRI has said the sharp rise in gold and silver import duties could increase imports routed through Dubai under the India-UAE CEPA agreement, while also creating larger tariff advantages and arbitrage opportunities for precious metal traders and importers

The Gem and Jewellery Export Promotion Council has urged the government to consult industry stakeholders following the hike in gold import duty, warning that higher duties could increase smuggling, raise exporter costs and worsen liquidity pressures, especially for MSMEs in the jewellery sector

A CMR report found that while awareness and interest in Advanced Driver Assistance Systems remain high among Indian consumers, concerns over reliability in Indian driving conditions and limited understanding of the technology are slowing wider adoption despite growing focus on vehicle safety

Benchmark equity indices slipped into negative territory on Wednesday after early gains as rising crude oil prices, persistent geopolitical tensions and foreign fund outflows dampened investor sentiment. Concerns over inflationary pressures and the prolonged US-Iran standoff also weighed on global markets.

The rupee recovered 16 paise from its record low in early trade on Wednesday amid expectations of weaker US dollar demand following higher import tariffs on gold and silver. However, elevated crude oil prices and global dollar strength continued to weigh on market sentiment.

India increased gold and silver import duties to 15 per cent to curb rising imports and protect foreign exchange reserves amid the West Asia crisis. The move follows PM Narendra Modi’s austerity appeal as soaring oil costs, a weak rupee, and inflation intensify economic pressure on the country

Indian equity markets opened flat amid mixed global signals and easing crude oil prices. Investors remained cautious over the West Asia crisis, FII selling, and macroeconomic concerns. Defensive sectors gained traction, while analysts advised gradual accumulation of quality banking stocks during market declines

The Prime Minister’s appeal for austerity reflects growing concern that the Iran conflict is emerging as an economic threat capable of driving up inflation, fuel prices and household costs across India

Piyush Goyal urged Indian industry to treat global disruptions as a wake-up call for self-reliance, productivity and innovation. He emphasised reducing import dependence, accelerating EV adoption, leveraging AI, and boosting exports to strengthen India’s economy amid global uncertainty

Dr Reddy’s Laboratories reported an 86 per cent decline in consolidated profit after tax for the March quarter at Rs 221.3 crore, mainly due to lower generics sales in North America. The company, however, recorded growth in India and European generics businesses

Oil Minister Hardeep Singh Puri said India has adequate fuel supplies for two months despite global disruptions, but warned that state-run oil companies could face losses of up to Rs 1 lakh crore in a quarter if crude prices remain elevated and fuel prices unchanged

Bajaj Finserv plans to gradually expand its market share and reach every Indian household within the next decade, Chairman and Managing Director Sanjiv Bajaj said. The company also plans to launch private equity and real estate funds later this year amid growing competition

Indian benchmark indices extended losses for a second session amid geopolitical tensions, with Sensex and Nifty falling nearly 0.5 percent. IT, financial and realty stocks led declines, while metal and oil sectors gained. Analysts highlighted pharmaceuticals, FMCG and capital goods as relatively resilient sectors despite market volatility

Samsung denied Dua Lipa’s lawsuit alleging unauthorized use of her image on TV packaging, saying a content partner assured all permissions were secured. Lipa seeks $15 million damages over alleged copyright, trademark, and publicity rights violations tied to a 2024 backstage festival photograph 

Hong Kong-based Crown Worldwide Group has launched a new facility in Coimbatore to expand its storage and information management operations in India. The company said the centre will support future growth and strengthen services for clients across South India and other markets

Bank of Baroda aims to grow its corporate loan book by 10 per cent in FY27 and currently has a Rs 50,000 crore lending pipeline. The bank expects strong demand from renewable energy, steel and cement sectors despite concerns over private capex growth

Canara Bank reported a 10 per cent decline in standalone net profit for the March quarter at Rs 4,506 crore. However, the bank improved its asset quality, reduced bad loans and posted a 12.7 per cent rise in full-year FY26 profit

Aluminium prices rose 0.72 per cent to Rs 371.50 per kg in futures trade on Monday as traders created fresh positions amid a positive spot market trend. Analysts said demand from consuming industries and strong market sentiment supported the rise in aluminium futures prices

Asian markets traded mixed as geopolitical tensions and oil price spikes dominated sentiment after US–Iran peace talks collapsed. Japan and Hong Kong slipped, South Korea surged on tech strength, while crude oil jumped over 4% above $105 amid Strait of Hormuz concerns