Savings Effect

GOLD SILVER ETF EXTENDS GAINS AFTER IMPORT HIKE

PM MODI CUTS OFFICIAL CONVOY SIZE BY 50%, ASKS MINISTRIES TO ADOPT FUEL-SAVING AND COST-CUTTING MEASURES AMID RISING CONCERNS OVER THE WEST ASIA WAR

Rupee opens at 95.60/$ vs Tuesday’s close of 95.63/$

`GE Power India: Guidance -- Concall Update The order book of INR1,628 crore provides visibility for close to two years of execution from continuing operations. Core services orders are short cycle, with 85% to 90% expected to be executed within 12 months. The company expects and is working towards growth in core services, aiming to increase its current 18% market share in the INR4,000 crore targeted fleet. The normalized EBITDA for FY26 was 11% at the entity level, and this base is set to be at par for future years. The demerger of the Durgapur facility is targeted for closure within the current calendar year, with an expectation of within 12 months from March 31, 2026. Priorities include driving disciplined execution, accelerating cash conversion, sustaining profitability, strengthening the core service franchise, and improving margins.

Tata Power: Guidance -- Concall Update Management acknowledged that FY '26 capital expenditure (CapEx) of INR 13,000 crores was below the previously guided range of INR 20,000-22,000 crores, primarily due to phasing impacts from delayed large utility-scale solar/wind and transmission line projects. For FY '27, the company expects CapEx to be around INR 25,000 crores, including deferred projects from FY '26, and plans to add approximately 2 GW of IPP-RE capacity, with solar contributing 1.5 GW to 1.8 GW. Co's manufacturing unit will supply cells and modules for its internal pipeline, including rooftop solar, which is expected to grow by at least 50-60% in FY '27, and utility-scale projects requiring Indian-made components from June 1, 2026. Odisha DISCOMs are projected to have their "best year" in FY '27, with AT&C losses in other circles expected to reduce by approximately 2% annually, aiming for 12-13% within four to five years. Management expects Tata Projects to return to profitability in FY '27 after resolving legacy project issues, and is exploring new coal-fired power plant opportunities if tariffs are attractive and PPAs are bankable.

DR. REDDY'S LAB: CO PLANS TO ROLL OUT ORAL SEMAGLUTIDE GENERIC SOON - ET

GLOBAL HEADWINDS PUT ELECTRIC BIKE COS ON PRICE HIKE PATH || RISING COSTS OF LITHIUM-ION CELLS, RARE EARTH MAGNETS, CHIPS AND KEY METALS AMID GLOBAL SUPPLY DISRUPTIONS ARE PUSHING EV MAKERS LIKE BAJAJ AUTO, HERO MOTOCORP, ATHER ENERGY AND REVOLT MOTORS TOWARDS POTENTIAL PRICE HIKES TO PROTECT MARGINS - ET

Gold, silver and precious metal imports to get costlier as government hikes basic custom duty to 10%

Prime Minister Modi urged citizens to avoid gold purchases for a year to reduce non-essential imports. India's gold ownership rules allow certain limits on gold jewellery during tax raids. Here's all you need to know.

Congress leader Rahul Gandhi on Tuesday launched a scathing attack on the Modi government over the cancellation of the NEET (UG) 2026 examination, saying Prime Minister Narendra Modi's so-called 'amrit kaal' has turned into a 'vish kaal' (poison-filled era) for the country.

India has raised import tariffs on gold and silver to 15% from 6%, government orders said ​on Wednesday, as part of efforts to curb overseas purchases of ​the metals and ease pressure on the country's foreign exchange reserves. The higher duties could ‌dampen demand in the world's second-largest consumer of precious metals, although they may help narrow India's trade deficit and support the rupee, one of Asia's worst-performing currencies. The government has imposed a 10% basic customs duty and a 5% Agriculture Infrastructure and Development Cess (AIDC) on gold and silver imports, taking the effective import tax to 15% from 6%.

Travelling to Bali for content creation, volunteering or remote work may lead to stricter immigration scrutiny, as Indonesia cracks down on misuse of tourist visas.   Bali’s immigration department has warned that activities such as sponsored social media posts, brand collaborations, yoga instruction, photography assignments and even unpaid volunteering can amount to violations if carried out on a tourist visa.

The Union government said it is revising the release date for India’s provisional annual GDP estimates and fourth-quarter GDP data from the last working day of May to June 7, or the previous working day if June 7 falls on a holiday. The ministry said the change was necessitated because some “critical datasets become available only after a lag of up to two months”.