Business

13

May

By The Press Editor

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Business

Jewellery stocks fall up to 11% as government hikes import duty on gold, silver to 15%

Mumbai: Shares of jewellery are under pressure on Wednesday, May 13, 2026, after the government increased import duties on gold and silver to 15 per cent. From Kaylyan Jewellers to Secon Gold, shares of jewellery companies edged lower by up to 11 per cent after the increase in import duty resulted in a significant increase in prices of precious metals. Jewellery stocks are facing selling pressure for the third consecutive day today amid fears of reduced demand due to import duty hikes. However, experts view the increase in gold and silver prices today as more of a mechanical re-pricing to…

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13

May

By The Press Editor

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Business

India’s billionaire population to expand by 51% in 5 years: What does this mean for luxury homes segment?

Mumbai: In major luxury hubs across the country, the conversation around housing has already shifted beyond conventional luxury. Developers are quietly redesigning inventory mixes, buyers are stretching ticket sizes without much resistance, and projects once considered ultra-niche are now entering mainstream premium portfolios. The expected 51 per cent expansion in India’s billionaire population over the next five years is likely to deepen that transition rather than merely accelerate it.   Wealth-preservation instrument What is changing is not simply the number of wealthy buyers entering the market, but the way wealth itself is beginning to influence residential demand. Larger homes, curated living…

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13

May

By The Press Editor

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Business

Metro, expressways and airports are key drivers of real estate valuation in Delhi-NCR

New Delhi: In NCR today, real estate value is no longer just about where a property sits on the map - it’s about how seamlessly it connects you to everything that matters. Buyers aren’t measuring distance anymore; they’re measuring time, predictability, and ease of movement. A location that once felt “far” can begin to feel far more central when the commute becomes predictable and effortless. That shift in perception is important because it’s exactly what’s redefining demand across NCR. Infrastructure is no longer playing catch-up to urban growth - it’s setting the direction for it.  Transit-oriented development  This isn’t a…

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13

May

By The Press Editor

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Business

Cabinet approves Rs 37,500 crore incentive scheme to promote coal gasification, raises paddy MSP by Rs 72

New Delhi: In a push to cleaner energy, the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved a Rs 37,500 crore coal gasification scheme. The move will also strengthen India’s energy security and reduce dependence on forex-guzzling imports amid the volatile geopolitical situation due to the ongoing conflict between the United States and Iran. Sharing the details, Union Information & Broadcasting Minister Ashwini Vaishnaw said that the country has 401 million tonnes of known coal reserves, which is enough for the next 200 years. "An outlay of Rs 37,500 crore has been kept for this…

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13

May

By The Press Editor

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Business

Yellow metal surges after government increases import duty, check city-wise gold rates per 10 grams

New Delhi: Gold prices surged significantly after the government increased the import duty on gold from 6 per cent to 15 per cent on Wednesday, May 13, 2026. According to the government, the move will curb non-essential imports amid the West Asia crisis, which has put pressure on forex reserves. The new import duty is effective from today. Not just gold and silver, the duty on platinum has been raised from 6.4 per cent to 15.4 per cent. Consequential changes have also been made to other items such as gold/silver dore, coins, findings, etc. The import duty on gold and…

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13

May

By The Press Editor

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Business

Sarvodaya Co-operative Bank’s licence cancelled by Reserve Bank of India, here’s why

Mumbai: The Reserve Bank of India has cancelled the licence of one more Co-operative Bank. According to a statement, the central bank has this time cancelled the licence of Sarvodaya Co-operative Bank due to a lack of adequate capital and earning prospects. As a result, the bank will cease to carry on banking business with effect from the close of business on May 12, 2026. The RBI has asked the Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra, to issue an order for the winding up of the bank and to appoint a liquidator. What does it mean? This…

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13

May

By The Press Editor

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Business

Noida Airport Fees: UDF capped at Rs 490 for domestic flyers, here’s how much you will have to pay for parking

Noida: Airports tariff regulator Airports Economic Regulatory Authority (AERA) has fixed the user development fee (UDF) for passengers flying from the Noida International Airport. According to the information available, the UDF has been fixed at Rs 490 for departing domestic passengers and Rs 980 for departing international passengers. For arriving domestic passengers, the authority fixed the fee at Rs 210, while for arriving international passengers, this has been capped at Rs 420, the AERA said in a release. The User Development Fee (UDF) is fixed for the 2026-27 period. After several delays, the Noida International Airport (NIA) was inaugurated on…

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13

May

By The Press Editor

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Business

Idea share price: Vodafone Idea stock surges 7% after board meet for fundraising announced, check details

Mumbai: Shares of Vodafone Idea surged nearly 7 per cent on Wednesday, May 13, 2026, after the company informed exchanges that its board would meet later this week to consider a fundraising proposal. The counter opened at Rs 12.14, a gain of Rs 0.245 against the previous close of Rs 11.89 on the BSE. It further advanced to touch a high of Rs 12.69, representing a gain of Rs 0.8 or 6.7 per cent. This is also just 2.81 per cent away from its 52-week high of Rs 12.8. The 52-week low of the counter is Rs 6.12. Last seen,…

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13

May

By The Press Editor

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Business

Gold surges Rs 11k per 10 grams on MCX, silver jumps 8% as govt raises import duty | Check city-wise rates

Mumbai: Rates of precious metals in futures surged on Wednesday, May 13, 2026, after the government hiked import duties on gold and silver to 15 per cent from 6 per cent amid a rising import bill due to the West Asia crisis. The gold June 5 contract on the Multi Commodity Exchange (MCX) opened with a gain of Rs 1,409 or 0.91 per cent at Rs 1,54,851 per 10 grams against the previous close of Rs 1,53,442. It continued the upward trend, touching an intraday high of Rs 1,64,497, a jump of Rs 11,055 or 7.20 per cent. Last seen, it…

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13

May

By The Press Editor

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Business

Market Opening Bell: Sensex drops 119 points, Nifty flat amid renewed geopolitical tensions

Mumbai: Indian equity benchmark indices, the Sensex and Nifty, opened in red on Wednesday, May 13, 2026, amid mixed global cues as renewed geopolitical tensions and unfavourable global macroeconomic cues continue to weigh on overall risk sentiment. While the 30-share BSE Sensex dipped 119.9 points or 0.16 per cent to start the session at 74,559.24, the Nifty shed 17.1 points to open at 23,362.45. In the last trading session, the Sensex closed at 74,559.24 and the Nifty 50 at 23,379.55. However, BSE and NSE bounced back and hit the intraday high of 74,981.34 and 23,503.80, respectively. Similarly, the broader indices…

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