The rupee ended higher on Thursday snapping a two-week losing streak after strong intervention by the Reserve Bank of India (RBI) helped support the domestic currency, though elevated oil prices and geopolitical risks continued to cloud the outlook, Reuters reported.The rupee settled at 96.20 against the US dollar, up 0.6 per cent from its previous…

Indian equities are facing a more cautious outlook, with JPMorgan cutting its rating on the market to neutral from overweight. The brokerage warned that the Nifty 50 could drop to 20,500 in a worst-case scenario, which would mean a fall of around 15% from current levels. It stated that high valuations and uncertainty linked to…

State-owned oil marketing companies (OMCs) have incurred losses of more than Rs 1 lakh crore over the past 10 weeks as they continued to shield Indian consumers from soaring global fuel prices triggered by the ongoing Middle East conflictThe three state-run fuel retailers, Indian Oil Corporation, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited,…

The Centre’s decision to exempt all customs duties on cotton imports for five months till October 30 is expected to improve cotton availability, reduce input costs and strengthen the competitiveness of India’s textile sector, the Textile Ministry said on Saturday, PTI reported.Industry bodies welcomed the move, describing it as timely relief for the textile and…