4h ago
Hindustan Zinc shares rise over 3% as silver prices climb and FY27 Q1 update boosts sentiment
Hindustan Zinc shares rose more than 3% in a single session, hitting a one-week high and adding about Rs 6,815 crore to the company’s market value. The move came as the dollar index fell 0.6% for the week, its biggest weekly drop since early April, helping lift MCX silver futures for September by over 2% to Rs 2.38 lakh per kg. The company also issued an FY27 Q1 business update, with refined zinc output up 6% year-on-year to 213 kt while silver output slipped 0.4%. Hindustan Zinc is India’s largest zinc producer, accounting for nearly 80% of the country’s primary zinc output, and is among the world’s top 10 silver producers.
4h ago
5h ago
Muthoot Finance, Manappuram Finance climb up to 5% as MCX gold tops Rs 1.48 lakh/10 grams
Gold-related lenders including Muthoot Finance and Manappuram Finance rose about 5% as gold prices moved back above Rs 1.48 lakh per 10 grams. MCX gold futures for August gained around Rs 2,288 per 10 grams, or nearly 2%, to a high of Rs 1,48,046, while October contracts moved above Rs 1.5 lakh. International spot gold rose more than 1% after U.S. jobs data pointed to a cooling labour market and shifted expectations for the Federal Reserve’s next move.
5h ago
7h ago
Tata Motors PV in focus after JLR Q1 FY27 retail sales drop 15.3% to 80,000 units
Tata Motors Passenger Vehicles said Jaguar Land Rover’s Q1 FY27 retail sales fell 15.3% year on year to 80,000 units, citing temporary supply disruptions tied to Middle East conflict-related market disruption and a fire at a key component supplier. Wholesale volumes declined 9.2%, with sharper drops in China, Europe and overseas markets. The company said the impact was temporary and that it will report April–June quarter financial results in August. Tata Motors PV shares have fallen 13% over the past month and have struggled to rebound after hitting a 52-week low.
7h ago
9h ago
Gold set for first weekly gain in five as Fed September hike odds drop to 54%
U.S. nonfarm payrolls rose by 57,000 in June, well below the 110,000 expected. Following the data, market pricing for a Federal Reserve rate hike in September fell to 54% from 66%. Spot gold gained 0.5% to $4,144.83 an ounce, the highest since June 23, and was on track for a 1.2% weekly rise—its first in five weeks. Silver, platinum and palladium also advanced, each headed for weekly gains.
9h ago
1d ago
Meta explores cloud business to monetise AI infrastructure, lifting shares 8–10%
Meta is reportedly exploring turning its in-house AI computing buildout into a cloud business, including renting out spare GPU capacity and offering access to AI infrastructure and potentially its models. The effort is still at an early stage and the commercial model has not been finalised. It is seen as a potential way to generate returns from Meta’s planned $125–145 billion in 2026 AI capital spending while reducing reliance on advertising. The move could also reshape competition with AWS, Microsoft Azure, Google Cloud and specialised AI cloud providers.
1d ago
1d ago
Gold ends two-day winning streak; spot climbs 0.7% to $4,057.92 as Fed hike odds seen at 64%
Weaker-than-expected U.S. jobs data and a slide in oil prices strengthened expectations that inflation pressures may ease, while traders put the odds of a September rate hike at about 64%, according to the CME FedWatch Tool. Spot gold rose 0.7% to $4,057.92 per ounce and spot silver gained 1.6% to $60.06 per ounce. In India, MCX gold futures fell Rs 548, while MCX silver futures rose Rs 1,263. Analysts cited support levels of $4,040-3,994 for gold and $58.80-57.40 for silver in the near term.
1d ago
1d ago
Gold extends rise as ADP jobs growth misses, oil prices ease
Gold prices rose again on Thursday, with spot gold at $4,063.56 per ounce after touching $4,114.99 on Wednesday, its highest since June 23. The move followed an ADP report showing private payrolls rose by 98,000, below expectations of 118,000, and was supported by falling oil prices. Investors are awaiting June U.S. nonfarm payrolls data due later today to gauge the Federal Reserve’s policy path. Silver, platinum and palladium also advanced.
1d ago
1d ago
Asian stocks slide as Korea chipmakers sink; Brent falls 0.8% to $71 a barrel
Asian equities retreated as a sharp selloff in chip stocks dragged South Korea’s SK Hynix and Samsung Electronics down more than 8%, while Kioxia slid 14% in Tokyo. The declines followed reports that Apple is negotiating to buy chips from two Chinese semiconductor makers, stoking concerns about the durability of Korean firms’ competitive edge. In the US, a semiconductor-stock gauge fell 6.3% and Micron Technology dropped 10.57%, while Nasdaq 100 futures pointed to further weakness. Brent crude slipped 0.8% to $71 a barrel, the lowest level since Feb. 26.
1d ago