Jewellery stocks have been on the backfoot ever since the Budget 2012-13 announced measures to discourage gold imports that have added significantly to the country's current account deficit.
State-run Coal India today said it may invest up to Rs 40,000 crore in the 12th Plan Period ending 2017 towards mines' development for augmenting production. "We will spend anything between Rs 35,000-40,000 crore in the 12th Plan Period for development
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India's steel demand is likely to jump by over 70 per cent to 113 million tonnes (MT) by the end of the next Five-Year Plan, with the infrastructure sector projected to witness investments worth USD 1 trillion.
A panel appointed by the Steel Ministry to assess demand and supply of steel in the 12th Five-Year Plan (2012-17) has estimated that steel demand would grow by 36 MT during the period to touch 113 MT in its final year, a source in the ministry said.
Snapping its two days of rally, both gold and silver fell in the national capital on reduced offtake by stockists and retailers at higher levels amid a weak global trend.
India's benchmark gold futures extended the previous session's gains on Tuesday morning to hit a fresh record of 28,583 rupees, tailing gains in the world market and buoyed by a weak rupee at home.
India's biggest iron ore producing state has sought a new tax on mining profits and a higher royalty on steel feedstock, underlining a growing push from provincial governments and the steel industry to keep natural resources at home.
The price of gold which is currently closer to Rs 26,000 is expected to rise further from its current levels. This has created an attraction for gold, mainly as an investment for asset allocation purposes, in addition to serving its usefulness for
Maharatna firm Coal India Ltd today reported a 64 per cent jump in the consolidated net profit at Rs 4,143 crore for the first quarter ended June 30. The company had posted a consolidated net profit of Rs 2,525 crore in the April-June period of 2010
