Business

16

Jun

By The Press Editor

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Business

Gold steady, silver falls on MCX as investors await details of US-Iran peace deal | Check city-wise rates | Markets

Mumbai: Rates of precious metals in futures traded mixed on Tuesday, June 16, 2026, as traders and investors awaited further details on the US-Iran peace deal. The gold August 5 contract on the Multi Commodity Exchange (MCX) opened with a minor drop of Rs 25 or 1.11 per cent at Rs 1,52,891 per 10 grams against the previous close of Rs 1,52,916. It fell a bit further to touch an intraday low of Rs 1,52,827, a drop of Rs 89. However, it gained momentum amid buying at lower levels, touching an intraday high of Rs 1,53,161, a gain of Rs…

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16

Jun

By The Press Editor

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Business

GIC shares in focus as government to sell up to 5% stake, OFS opens today – Check floor price | Markets

Mumbai: Shares of state-owned General Insurance Corporation of India (GIC) will be in focus during today's trading session, i.e. on June 16, 2026, as its offer for sale (OFS) will open for non-retail investors. Headquartered in Mumbai, the General Insurance Corporation is an Indian public-sector reinsurance company. With this, GIC has become the fifth company where the government is selling its stake. The other companies in which the government has already trimmed its exposure are NLC India, NHPC India, Central Bank of India, and Coal India. It has already raised Rs 13,389 crore through public sector units' stake sales in…

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16

Jun

By The Press Editor

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Business

Market Opening Bell: Sensex gains 260 points, Nifty above 23,900, HCL Tech among top gainers | Markets

Mumbai: Indian equity benchmark indices, the Sensex and Nifty, started the trading session on a mildly positive note on June 16, 2026, as global markets remain largely supportive. While the 30-share BSE Sensex gained 262.44 points or 0.34 per cent to start the session at 76,526.77, the Nifty jumped 70 points to open at 23,923.90. In the last trading session, the Sensex closed at 76,264.33 and the Nifty 50 at 23,853.90. Similarly, the broader indices traded in the green in the opening session. While the BSE Midcap Select Index was up by 73.17 points, the BSE Smallcap Select Index gained…

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15

Jun

By The Press Editor

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Business

India hikes export duty on diesel, Aviation Turbine Fuel; petrol levy unchanged | Business

New Delhi: Amid concerns over global energy supplies, the Centre has increased export duties on Aviation Turbine Fuel (ATF) and diesel for the upcoming fortnight beginning Tuesday (June 16). However, the export duty on petrol has been left unchanged. The move is aimed at ensuring adequate domestic fuel availability and reducing incentives for exports at a time when geopolitical developments continue to impact international energy markets. According to a government notification issued on Monday, the export duty on aviation turbine fuel has been raised significantly from Rs 9.5 per litre to Rs 12.5 per litre. Diesel exports will also attract…

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15

Jun

By The Press Editor

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Business

Gold, silver rebound following US-Iran deal, here are key levels for investors | Check city-wise rates | Markets

Mumbai: Rates of precious metals in futures rebounded amid strong global trends after the announcement of a US-Iran peace deal. The gold August 5 contract on the Multi Commodity Exchange (MCX) opened with a gain of Rs 3,301 or 2.19 per cent at Rs 1,53,829 per 10 grams against the previous close of Rs 1,50,528. However, it witnessed some selling at higher levels and fell to an intraday low of Rs 1,52,632, but it continued to trade in the green. Last seen, it was trading at Rs 1,53,333 with a gain of Rs 2,805 or 1.86 per cent.  On the…

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15

Jun

By The Press Editor

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Business

Infrastructure and Integration: How Noida, Ghaziabad are driving next housing boom | Business

Mumbai: NCR’s residential growth story is gradually expanding beyond its traditional centres, with the eastern corridor increasingly emerging as one of the region’s most active housing markets. From the Noida Expressway and Greater Noida to Siddharth Vihar, Indirapuram’s extension belts, and Wave City, these micro-markets are witnessing sustained momentum backed by large-scale infrastructure development and stronger connectivity. Wider road networks, metro expansion, expressway access, and integrated township-led development are collectively changing buyer perception across Noida and Ghaziabad. Much of this momentum is being anchored by infrastructure-led expansion that is changing the way homebuyers and investors evaluate NCR’s emerging residential markets.…

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15

Jun

By The Press Editor

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Business

Income Tax: Foreign travel and luxury spending can create tax filing obligations – All you need to know | Markets

New Delhi: Many taxpayers are under the impression that they need not file an Income Tax Return (ITR) if their income is below Rs 2.5 lakh (old regime) or Rs 3 lakh (new regime). However, the rules go beyond simply your income. According to experts, tax law now triggers a filing obligation based on your spending as well. Two separate machineries do this - one makes filing legally mandatory above certain spend thresholds, and the other leaves a tax footprint on your PAN that you can only recover and reconcile by filing. Mechanism 1: Foreign travel above Rs 2 lakh…

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15

Jun

By The Press Editor

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Business

Sensex jumps 736.38 points to settle at 76,264.33, Nifty holds 23,850 after US, Iran deal | Markets

Mumbai: Benchmark indices Sensex and Nifty ended the trading session with significant gains amid strong buying across sectors on the US-Iran peace negotiations and confirmation of the reopening of the Strait of Hormuz.  The 30-share BSE Sensex surged 736.38 points or 0.97 per cent at 76,236.38. During the day, it hit a high of 76,821.07 and a low of 76,140.44, gyrating 680.63 points. The 50-share NSE Nifty jumped 231 points or 0.98 per cent to settle at 23,853.9. Broader markets overperformed, with the BSE Midcap Select Index climbing 288.15 points or 1.66 per cent and the BSE Smallcap Select Index declining…

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15

Jun

By The Press Editor

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Business

FMCG stock in focus as promoters purchase 4.50 lakh shares via open market, check details | Markets

Mumbai: Shares of GRM Overseas Ltd, a small cap company with a market cap of Rs 1,859.71 crore, are in focus as the company has shared important details about the acquisition of shares. The company stated that individuals associated with its promoter group have acquired shares in the company. The acquisition primarily involves Atul Garg, along with Mamta Garg, Hukam Chand Garg, and Nipun Jain, who are shown as 'Persons Acting in Concert' (PAC). Atul Garg, Mamta Garg, and Hukam Chand Garg are part of the company's promoter/promoter group, while Nipun Jain is a director in the company. The promoter…

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15

Jun

By The Press Editor

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Business

Wholesale price index inflation sharply rises to 9.68% in May, largely driven by higher prices of fuel | Business

New Delhi: Wholesale price inflation surged to 9.68 per cent in May, up from 8.26 per cent in April, led by a sharp spike in fuel and power, manufactured, and food prices. The Commerce and Industry Ministry on Monday released the Wholesale Price Index (WPI)-based inflation data, revising the base year to 2022-23, from 2011-12 earlier. Wholesale price index (WPI)-based inflation in fuel and power climbed to 30.33 per cent in May as against 24.89 per cent in April. In crude petroleum, inflation was 61.51 per cent in May, as against 56.31 per cent in the previous month. How much did…

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