Business

02

Mar

By The Press Editor

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Business

Crude oil futures rise 9% as Saudi Aramco’s Ras Tanura refinery shut down after drone strike

Mumbai: Crude oil prices surged sharply on Monday, climbing Rs 589 to hit a lifetime high of Rs 6,700 per barrel in futures trade amid escalating tensions in the Middle East. On the Multi Commodity Exchange (MCX), crude oil for April delivery traded Rs 594 higher, or 9.73 per cent up, at Rs 6,596 per barrel. The sharp rally followed news that Saudi Aramco had shut down its Ras Tanura Refinery as a precautionary measure after it was hit by a drone. Middle East Conflict Disrupts Energy Supply Chain Oil prices rose significantly after US and Israeli attacks on Iran,…

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02

Mar

By The Press Editor

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Business

Metal stock in focus after capacity expansion nod from Chhattisgarh government: Details

Mumbai: Amid Monday’s sharp decline in the stock market, shares of Godawari Power & Ispat Limited (GPIL) are on investors’ radar following a key regulatory development. The iron and steel products manufacturer shared important information with investors on Sunday, March 1. In its latest exchange filing, the company stated that it received consent to operate at an increased capacity from the Chhattisgarh Environment Protection Board on February 28. Under the approval, the capacity of the sponge iron division at its plant in the Silatra Industrial Area, Raipur, has been increased from 5.94 lakh tonnes per annum to 6.50 lakh tonnes…

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02

Mar

By The Press Editor

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Business

Real estate stock in focus as company shares revised timeline for conversion of optionally convertible debentures

Mumbai: Shares of Hazoor Multi Projects Limited are in focus after the company shared key updates with investors in an exchange filing dated February 28. However, amid heavy market selling, the stock was trading at Rs 30.80 on the BSE, down 4.23 per cent, or Rs 1.36, at last count. In its latest filing, the company stated that it intends to convert the optionally convertible debentures (OCDs) of its wholly owned subsidiary, Square Port Shipyard Private Limited, into equity shares. The original plan was disclosed to stock exchanges on January 27, 2026. The timeline for the acquisition and conversion has…

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02

Mar

By The Press Editor

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Business

India, Canada seal USD 2.6 billion uranium deal – Here’s why the pact matters

Mumbai: India and Canada on Monday sealed key agreements on uranium and critical mineral supplies, while also vowing to conclude a comprehensive economic partnership agreement. Prime Minister Narendra Modi and his Canadian counterpart Mark Carney finalised a new framework to strengthen bilateral ties, including a target to raise annual trade to USD 50 billion by 2030. A central highlight of the discussions was the USD 2.6 billion uranium supply agreement, under which Canada will support India’s civil nuclear energy sector. Here’s why the uranium deal is significant for India: Strengthens India’s Nuclear Energy Programme As India depends heavily on imported…

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02

Mar

By The Press Editor

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Business

Holi Market Holiday 2026: Are NSE, BSE closed on March 3 or 4? Here’s what investors need to know

Mumbai: With Holi around the corner, many investors are wondering whether the stock markets will remain open on March 3 or March 4, 2026. While Holika Dahan will be performed on March 2, 2026, Holi with colours will be celebrated on March 4, 2026. This year, due to a lunar eclipse on March 3, 2026, neither Holika Dahan nor Holi will be celebrated on that day in most places. However, in some regions, Holika Dahan will take place after 6:46 pm on March 3, leading to confusion regarding the exact date of celebrations. Stock markets to remain closed on March…

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02

Mar

By The Press Editor

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Business

IT stock in focus post this update regarding Agentic AI platform, check share price

Mumbai: Shares of Kellton Tech Solutions Ltd are in focus after the small-cap IT firm announced a key development regarding its proprietary AI platform. The company, which has a market capitalisation of Rs 952.69 crore, informed investors through an exchange filing that its product KAI (Kellton Agentic AI Platform) has received the ‘AGBA Innovation Star Rating Certificate’ at the AEGIS Graham Bell Awards 2026. According to the filing, KAI is Kellton Tech’s proprietary agentic AI platform designed specifically for large enterprises. It enables organisations to build, deploy and operate automated AI agents at scale. These AI agents can perform multi-step…

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02

Mar

By The Press Editor

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Business

5,000% return in 3 years: FMCG shares in focus post key board decisions, check full details here

Mumbai: Shares of Elitecon International Ltd are in focus after the cigarette and tobacco products manufacturer shared two key updates in an exchange filing following market hours last Friday. The company, which has a market capitalisation of Rs 8,838.11 crore, informed investors about important decisions taken at its Board of Directors meeting held on February 27. Update on Sunbridge Agro Acquisition Reversal The board meeting provided an update regarding the reversal of the proposed acquisition of Sunbridge Agro Private Limited (SAPL). Elitecon International had entered into a share purchase agreement (SPA) on September 4, 2025, to acquire a controlling stake…

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02

Mar

By The Press Editor

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Business

Rupee slips to 91.29 against US dollar amid higher crude oil prices, intense global volatility

Mumbai: The rupee depreciated 21 paise to 91.29 against the US dollar on Monday, weighed down by rising crude oil prices, a strong American currency and intense global volatility triggered by escalating Middle East tensions. At the interbank foreign exchange, the rupee opened at 91.23 and declined further to 91.29 against the greenback in early deals, trading 21 paise lower than its previous closing level. On Friday, the rupee had fallen 17 paise to settle at 91.08 against the dollar. Forex traders said negative sentiment in domestic equity markets and heavy withdrawal of foreign funds also pressured the Indian currency.…

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02

Mar

By The Press Editor

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Business

Gold rises to Rs 1.67 lakh per 10 grams on MCX, silver too rallies amid tensions in Middle East

Mumbai: Rates of precious metals in futures trade edged higher on Monday, March 2, 2026 as the US and Israeli attacks on Iran rattled world markets and investors sought refuge in safe-haven assets. The gold April 2 contract on the Multi Commodity Exchange (MCX) opened with a gain of Rs 3,397 or 2.09 per cent at Rs 1,65,501 per 10 grams against the previous close of Rs 1,62,104. It later jumped to hit the high of Rs 1,67,915, a gain of Rs 678 or 3.58 per cent.   On the MCX, the yellow metal futures for June 2026 were up by…

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02

Mar

By The Press Editor

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Business

Market Opening Bell: Sensex tanks 2,700 points, Nifty below 24,700 as Middle East tensions rattle markets

Mumbai: Indian equity benchmark indices, the Sensex and Nifty, tanked on Monday, March 2, 2026, amid escalating tensions in the Middle East. While the 30-share BSE Sensex fell 2,743.46 points to start the session at 78,543.73, the Nifty shed 519.4 points to open at 24,659.25. In the last trading session, the Sensex closed at 81,287.19 and the Nifty 50 at 25,178.65. Similarly, the broader indices traded in the red in the opening session. While the BSE Midcap Select Index dropped 302.93 points, or 1.81 per cent, in the early trading session, the BSE Smallcap Select Index was down by 174.80…

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