뉴스

Centre approves ₹72.42 crore for Ameenabad harbour in A.P.

The facility aims to facilitate anchoring of 2,500 boats, with the annual handling of 1.10 lakh tonnes

BPCL greenfield project in Nellore nears deadline

The national project estimated to cost ₹1 lakh crore is meant to process 9 – 12 million metric tonnes of petrochemical products per annum.

Adani Ports shares snap 2-day fall, rise over 1% after Goldman Sachs raises target price

Shares of Adani Ports and Special Economic Zone rebounded after a two-session decline, rising more than 1% to Rs 1,812 on Friday after Goldman Sachs reaffirmed its 'Buy' rating on the stock. The brokerage also raised the stock's target price to Rs 1,870. Goldman Sachs highlighted that cargo volumes in May 2026 rose 16% year-on-year to 48.3 million tonnes, led by a 33% increase in liquid cargo and a 17% rise in container volumes. Quarter-to-date cargo volumes stood at 91.4 million tonnes, up 15% from a year ago and ahead of analyst expectations.Goldman Sachs noted that thermal coal volumes are witnessing a recovery and are likely to remain robust during the summer months. However, logistics rail volumes in May declined 19% year-on-year to 48,170 container units.The brokerage identified key growth drivers as higher Tata Power-linked coal volumes at Mundra, the ramp-up of operations at the Vizhinjam transhipment hub, growth in liquid cargo at Mundra, and expansion of multimodal logistics parks.Reflecting the strong volume momentum and improving return on capital employed (ROCE), Goldman Sachs has revised its earnings estimates upward and increased its target price for the stock.Adani Ports Q4 snapshotAdani Ports and Special Economic Zone (APSEZ) reported a consolidated net profit of Rs 3,329 crore for the March-ended quarter, compared to Rs 3,014 crore in the year-ago period, marking a 10% increase. The profit after tax (PAT) is attributable to equity holders of the parent.India's largest port operator posted revenue growth of 26% year-on-year (YoY) to Rs 10,737 crore in Q4FY26, as against Rs 8,488 crore posted by the company in the corresponding quarter of the previous financial year.The company's Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) in the quarter under review stood at Rs 6,02 crore, up 20% from Rs 5,006 crore reported in Q4FY25.Also read: Rajesh Exports shares hit 5% lower circuit for 2nd day; firm cites 'communication gap' after Sebi order For the full financial year, PAT jumped 16% to Rs 12,782 crore compared to Rs 11,061 crore in FY25, while the topline stood at Rs 38,736 crore for FY26 versus Rs 31,079 crore in FY25, recording a 25% growth. EBITDA saw a 20% YoY uptick at Rs 22,851 crore.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Can 'Black Gold' Power India's Future? 'Dirty Coal' Finds New Uses

India holds nearly 400 billion tonnes of coal, among the largest reserves in the world

'Fake': Centre Debunks Report Claiming RBI Sold Gold To Shore Up Forex

RBI said in a statement its physical stock of the precious metal remains unchanged at 880.52 tonnes.

Jefferies raises Titagarh Rail target price by 23%. Check upside potential and key triggers

Shares of Titagarh Rail Systems gained nearly 3% to hit the day's high of Rs 857 on the BSE on Wednesday after Wall Street major Jefferies raised the target price to Rs 990 from Rs 810, implying an upside of 19% from current market levels.With a Buy rating, the international brokerage raised the target by 23%. Jefferies said Titagarh Rail Systems delivered a stronger-than-expected quarter, and improving execution is likely to drive a re-rating of the stock going forward. The brokerage believes Titagarh is well-positioned to benefit from rising demand for passenger and metro coaches, supported by government-led infrastructure initiatives. It estimates a 44% EPS CAGR over FY26-30 and expects the company's strong order book in the passenger segment to provide healthy earnings visibility.Titagarh delivered 64 coaches in FY26, ahead of Jefferies' estimate of 60 coaches. While this fell short of the management's earlier guidance of 100-120 coaches, the shortfall was largely anticipated due to execution delays in the first half of FY26.Management has reiterated confidence in delivering 200-220 coaches in FY27, compared with Jefferies' estimate of 193 coaches, citing the resolution of initial execution challenges. On the flagship Vande Bharat project, the company expects to deliver two trains in FY27, in line with Jefferies' projections, with the prototype scheduled for supply in the December 2026 quarter.Margins in the March quarter came in significantly ahead of expectations at 19%, compared with Jefferies' estimate of 12%, supported by a sharp increase in execution of the Bengaluru Metro project, which is being executed as a job contract. Management has guided for margins of around 12% in the near term, with a gradual improvement towards 15% as the company advances up the technology value chain.Rail wagon sales declined 29% year-on-year due to supply-side constraints. While Jefferies expects wagon sales to fall a further 5% in FY27, it forecasts a largely stable trajectory over FY27-30, supported by its estimate that Indian Railways' cargo volumes could reach around 3 billion tonnes by FY35, compared with the FY30 target.The company currently has an order book of 6,500 wagons, providing visibility for about 97% of Jefferies' FY27 wagon sales estimates, although visibility beyond FY27 remains limited. Separately, Titagarh has secured 28% capital assistance for its brownfield shipbuilding expansion plans and is evaluating technology partnerships and potential joint ventures with shipyards.The brokerage noted that a recent report by Live Mint indicated Indian Railways is considering an order for 1 lakh wagons, which could significantly improve earnings visibility for wagon manufacturers. The valuation assigns 30x March 2028 estimated EPS to the core business, up from 25x previously, reflecting positive developments around potential wagon orders and the upcoming wheel joint venture, which it values at 2.5x its investment value. Key risks to the outlook include delays in wagon orders or wheel supplies from Indian Railways, as well as weaker-than-expected execution.Titagarh Rail Q4 snapshotTitagarh Rail reported a net profit for the quarter at Rs 53.96 crore, compared to a net loss of Rs 122.4 crore that the company reported last year.Titagarh Rail's revenue in the March quarter declined by 12.9% to Rs 875.4 crore from Rs 1,005.6 crore in the previous year.The company's earnings before interest, tax, depreciation and amortisation (EBITDA) declined 4.4% to Rs 97.3 crore in the March quarter from Rs 96.56 crore last year, while margins stood at 11% from 10% last year. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Ebola outbreak: India sends 43 tonnes of aid to Africa CDC in second relief tranche

India Sits On 32,000 Tonnes of Gold. Why PM Modi Wants It Back In Play

If 1% of India's household and temple gold is recycled annually, gold imports could decline by 25-30%.

Government cuts Kharif fertiliser demand estimate on weak monsoon outlook

India anticipates reduced fertilizer use this Kharif season. This comes as the monsoon forecast suggests below-normal rainfall. Urea demand is now projected at 190 lakh tonnes, down from 194 lakh tonnes. Diammonium Phosphate demand is also lowered to 60 lakh tonnes. Government assures ample stocks of rice, wheat, and pulses for domestic needs.

Karnataka mango produce falls by 5 lakh tonnes this year due to climate extremities

Due to late mango harvest and low yield, the state level mango mela organised in Lalbagh has delayed by a month

Commercial LPG Cylinder cost up by Rs 42

New Delhi: The price of 19-kg commercial LPG cylinders has been increased from June 1, raising input costs for hotels, restaurants and other commercial establishments, while domestic cooking gas rates have been left unchanged, according to industry sources.In Delhi, the price of a 19-kg commercial LPG cylinder has been raised by Rs 42 to Rs 3,113.50. In Kolkata, the increase is steeper at Rs 53.50, taking the retail price to Rs 3,255.50.The price revision comes amid heightened efforts by the government and oil marketing companies (OMCs) to strengthen fuel security and ensure uninterrupted availability of petroleum products across the country.Also read | Refiners adjust to new crude mix as Hormuz crisis tightens supplyIndustry sources said the price of 5-kg Free Trade LPG (FTL) cylinders has also been increased by Rs 11. Following the revision, a 5-kg FTL cylinder will cost Rs 821.50 in Delhi. The revised rates came into effect on June 1.There has been no change in the price of domestic LPG cylinders, providing relief to household consumers at a time when global energy markets continue to remain volatile.The latest revision follows the government's assurance that adequate stocks of petroleum products are available and that there is no shortage of LPG, petrol or diesel in the country.Speaking at an inter-ministerial briefing on Friday, Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, said the government is working to bolster energy security through strategic reserves and enhanced inventory management.She said OMCs have been advised to maintain a minimum LPG reserve equivalent to 30 days of consumption and that efforts are underway to strengthen crude oil reserves as well.Also read | India cuts export duties on petrol, diesel and aviation turbine fuelAccording to Sharma, all refineries are operating at optimum levels and domestic LPG production has reached record highs. She said inventories of key fuels remain comfortable and no instances of LPG distributors running dry have been reported.At the same time, authorities have observed unusual spikes in fuel sales in several regions. While part of the increase is attributed to seasonal agricultural demand, bulk purchases have also contributed to higher offtake.Government data showed overall fuel sales growth exceeding 30%, with 14 districts recording more than 100% growth in petrol sales. In contrast, six districts witnessed a decline of about 38% in sales by OMCs.To prevent diversion and hoarding, enforcement agencies have intensified inspections. Over the past four days, around 6,500 raids were conducted involving LPG distribution networks, resulting in multiple FIRs and arrests. Separate inspections at retail fuel outlets led to the seizure of significant quantities of petrol and diesel, along with legal action against violators.Sharma said domestic refineries are currently producing around 50-52 thousand metric tonnes of LPG per day against demand of about 72 thousand metric tonnes, with the balance being met through imports. She added that the backlog in LPG supplies has narrowed to around 4.5 days, indicating an improvement in distribution efficiency.The increase in commercial LPG prices is expected to have a bearing on operating costs for eateries, catering businesses and other commercial users, even as household consumers remain insulated from the latest revision.

India-Oman trade deal goes live June 1

The Comprehensive Economic Partnership Agreement (CEPA) between India and Oman is set to come into force on June 1, marking a significant milestone in bilateral economic relations. Both nations will formally announce the decision on Monday.This marks the fifth free trade agreement (FTA) implemented under the Modi government since 2014. It follows trade pacts rolled out with Mauritius (April 2021), the UAE (May 2022), Australia (December 2022), and the European Free Trade Association (EFTA—comprising Switzerland, Iceland, Liechtenstein, and Norway in October 2025). India has also signed deals with the UK (July 2025) and New Zealand (April 2026), alongside concluding trade talks with the 27-nation European Union (EU) on January 27 this year.CEPA vs FTAModern trade pacts typically span around 20 chapters. These encompass comprehensive regulations across trade in goods, trade in services, investment, intellectual property rights, customs procedures, and dispute settlement mechanisms.Similar bilateral frameworks are also designated as Comprehensive Economic Cooperation Agreements (CECA), Comprehensive Economic Trade Agreements (CETA), or Economic Cooperation and Trade Agreements (ECTA).Also read: India-Oman CEPA to strengthen energy security, trade resilience and export growthIndia-Oman tradeBilateral trade between the two nations reached USD 11.18 billion during 2025-26, up from USD 10.61 billion in 2024-25. India’s exports stood at USD 4.02 billion, while imports from Oman were valued at USD 7.16 billion.In the services domain, India's exports to Oman expanded from USD 397 million in 2020 to USD 665 million in 2024, driven primarily by telecommunications, computer and information, transport, and travel sectors. Conversely, services imports from Oman grew from USD 101 million to USD 197.7 million over the same period, led by transport, travel, telecom, and other business services.What does India gain? The deal unlocks 100% duty-free market access for Indian exports to Oman, covering 98.08% of Oman’s tariff lines, which represents 99.38% of the trade value (based on the 2022-23 average).Immediate Concessions: All zero-duty access comes into effect from "Day One" of the agreement. Currently, only 15.33% of India’s export value (11.34% of tariff lines) enters Oman duty-free under the Most Favoured Nation (MFN) regime.Price Competitiveness: The pact eliminates the current 5% import duty on Indian goods worth USD 3.64 billion.Growth Drivers: Key sectors poised for immediate advantages include textiles, agricultural products, transport equipment, precision instruments, processed food, and gems & jewellery.New Horizons: The agreement unlocks fresh export windows for Indian minerals, chemicals, base metals, machinery, plastic, rubber, automobiles, clocks, instruments, glass, ceramics, marble, and paper.India-Oman CEPA: Key sectoral gainsOman will grant immediate zero-duty access to crucial Indian industrial segments, including:Iron and steelElectrical and industrial machineryMarine products and copper goodsFurthermore, the removal of the 5% tariff is set to directly bolster the competitiveness of Indian vehicles in the Omani market, while securing binding zero-duty access for key finished medicines and vaccines.India protects sensitive sectorsTo insulate local industries and farming communities, India has placed 2,789 tariff lines on its exclusion list.Excluded Categories: Key domestic sectors shielded from tariff concessions include transport equipment, major chemicals, cereals, fruits, vegetables, spices, coffee, tea, and products of animal origin.Manufacturing Safeguards: High-value manufacturing chains including rubber, leather, textiles, footwear, petroleum oils, and mineral-based products remain protected.Agricultural Shielding: Strategic segments such as dairy products, meat, oilseeds, vegetable oils, sugar, and food-processing residues are entirely kept out of the liberalisation purview.Service sector stands to gainWith Oman’s total global services imports standing at USD 12.52 billion in 2024, India’s current share of 5.31% presents significant room for expansion.Oman has made robust commitments regarding the temporary entry and stay of Indian service professionals. Notably, the Intra-Corporate Transferees (ICT) ceiling has been raised from 20% to 50%, allowing Indian firms to deploy a higher volume of managerial and specialist personnel.Additionally, for the first time in any FTA, Oman has locked in specific commitments for professional service providers, benefitting Indian talent in IT, accounting, engineering, medical, education, construction, and consulting fields.Gains for India's agri sectorIndian agricultural exports such as natural honey, potatoes, cashews, boneless meat, and bakery items will secure immediate duty-free entry into Oman.Oman has agreed to dismantle tariffs—which currently range from 5% to 100%—on an array of items. These include cheese, curd, milk, cream, frozen fish, butter, meat, yoghurt, pastries, cakes, chocolate, sugar confectionery, mineral water, alongside animal and vegetable fats and oils.In return, Indian consumers will benefit from cheaper imports of Omani dates, with India granting zero-duty access for up to 2,000 tonnes of the commodity annually. New Delhi is also extending tariff concessions to Oman’s traditional products: Gum Arabica (utilised in food, pharmaceuticals, and cosmetics) and Frankincense (utilised in the incense and perfume sectors).Oman to benefit from tariff concessionsIndia is extending tariff concessions across 77.79% of its total tariff lines (equivalent to 12,556 lines), which encapsulates 94.81% of India’s total imports from Oman by value.For items that hold significant export value for Oman but remain sensitive for domestic industries in India—such as dates, marbles, and specific petrochemical products—liberalisation will be managed via a controlled Tariff-Rate Quota (TRQ) mechanism.India strengthening presence in Middle EastThe Oman CEPA serves as another pillar in India's deepening trade ties with the Gulf Cooperation Council (GCC), following its May 2022 pact with the UAE. New Delhi is set to commence trade talks with Qatar soon, and has already inked terms of reference (TOR) to initiate broader trade pact negotiations with the entire GCC bloc (comprising Saudi Arabia, UAE, Qatar, Kuwait, Oman, and Bahrain).Despite its size, Oman commands vast geopolitical importance as it borders the Strait of Hormuz, a critical maritime chokepoint heavily relied upon by Asian enterprises for oil trade. The nation serves as a strategic gateway for Indian goods and services into the broader Middle Eastern and African markets.Currently, nearly 7 lakh Indian nationals reside in Oman, sending home approximately USD 2 billion in annual remittances. Over 6,000 Indian establishments operate within Oman, and India has clocked USD 615.54 million in foreign direct investment (FDI) from Oman between April 2000 and September 2025. Notably, this CEPA is the first bilateral trade pact Oman has signed with any nation since its agreement with the United States in 2006, cementing its position as India’s third-largest export market within the GCC.

A 2022 Volcanic Eruption May Hold Clue To Cut Gas Behind Global Warming: Report

Researchers estimate that the volcano released about 330,000 tonnes of methane.

Lokayukta officials conduct raids at 25 locations in Shivamogga, seize 17,000 metric tonnes of illegally extracted sand

Centre withdraws draft sugarcane order

New Delhi: The Centre has withdrawn the draft Sugarcane (Control) Order, 2026, saying it needs to be revisited in the light of objections received from state governments and other stakeholders.The Food Ministry had circulated the draft for public comments, with a May 20 deadline.Also Read: Sugarcane FRP hiked to Rs 365/quintal for 2026-27 season"Based on the suggestions/comments received from state governments and other stakeholders, it is considered necessary to revisit the draft Sugarcane (Control) Order, 2026," the ministry said in an office memorandum.The draft sought to replace the 60-year-old Sugarcane (Control) Order, 1966, with a new regulatory framework that proposed, among other things, bringing the ethanol and khandsari sectors under government regulation.The move drew opposition from khandsari units and farmers. The draft had proposed redefining a khandsari unit as one with more than 10 workers and a crushing capacity of over 500 tonnes per day. Under the existing rules, a khandsari unit is defined as one with 20 or more workers, with no capacity limit.Also Read: Gujarat govt's 'revolutionary' decision to provide Rs 1,500 cr financial relief to sugar cooperativesSources said the proposed definition would have brought a large number of small-scale, labour-intensive units under the regulatory ambit, adversely affecting farmers who generally receive better prices from khandsari units than from sugar mills.BJP MP Sanjeev Balyan, who represents Muzaffarnagar in Uttar Pradesh, said on social media the government had decided to withdraw the order "in the interest of farmers"."This demonstrates that under the leadership of Prime Minister Narendra Modi, the government formulates every policy by placing the consent of the farmers and their welfare above all," he said.

Gold demand drops 70% after sharp duty hike in India

Kolkata: Gold demand in India slipped about 70% since the government more than doubled import duty from earlier this month, adding to already tepid consumer sentiment amid higher fuel and food prices due to the Iran war.Demand fell to about 7.5 tonnes in the fortnight ended May 27 from around 25 tonnes a year earlier, according to industry estimates. The government increased the import duty on gold to 15% from 6% with effect from May 13."Reports trickling in from jewellers across India shows that there has been a 70% drop in demand after the import duty was hiked," said Surendra Mehta, national secretary of India Bullion & Jewellers Association (IBJA). "The unorganised trade, which comprises 65% of the gold trade, has been worst hit due to the duty hike."Also Read: India's gold import problem may already have a solution at homeJoy Alukkas, chairman of gold jewellery retail chain Joyalukkas, attributed the demand weakness to several factors. "It is not only the high import duty that has dented the demand," he said. "The Prime Minister's appeal to stay away from gold for a year has also impacted consumer sentiment in a big way. At Joyalukkas, we are seeing demand dropping by more than 35%. We are not sure whether it will slip further." 131398034Mehta at IBJA said apart from the gold import duty hike, higher petrol and diesel prices and food items are also weighing on consumer sentiment "as they are not willing to spend on gold now".The effective tax burden on gold, including goods and services tax (GST), has risen to 18.45% from 9.18% after the duty increase. The government raised duties against the backdrop of a weak rupee, elevated crude prices, and geopolitical tensions, while also tightening import rules and capping duty-free imports under the Advance Authorisation Scheme."At present, gold is not in the priority list of consumers," said Mehta. "Moreover, it is now the period of Adhik Maas, when Hindus generally avoid buying anything precious. What is more surprising is that the investment demand for gold has slowed down."Also Read: Kriti Sanon joins GIVA as investor and brand ambassadorThe slump may weigh on investment demand in the second quarter of 2026 after a strong start to the year, said jewellers.Gold Exchange Schemes Take OffIndia's bar and coin demand rose 34% from a year ago to 62.3 tonnes in the March quarter.India consumes about 800-850 tonnes of gold annually. On Friday, gold of 999 purity traded at about ₹1.57 lakh per 10 grams, excluding GST, in Mumbai's spot market.Volumes are weak in south India, traditionally one of the country's biggest gold-consuming markets. Some consumers are also shifting towards lighter and lower-carat jewellery while sales of old gold have risen sharply, according to jewellers. "Consumers are not stretching their budgets," said B Govindan, chairman of Bhima Jewellery. "They are buying whatever fits their budget and therefore choosing lightweight and lower-carat jewellery. On the contrary, there is a huge rush among consumers to sell old gold and take cash back home."Industry executives noted the varied impact of the import duty increase across segments, with many retailers indicating a pause in procurement. "Large chain stores saw a brief period of panic buying after the announcement, driven by expectations of further measures, and while they expect a slowdown in sales, they remain relatively resilient given inventory buffers and continued support from bridal demand," said Kavita Chacko, research head at the World Gold Council (WGC).Mid-sized and regional jewellers are continuing to see demand from affluent customers but are expected to rely more on gold exchange programmes and tighter inventory cycles going forward, she said. "Smaller retailers appear the most vulnerable: already stretched by persistently high prices, they now face added pressure from sales volumes and profit margins," said Chacko.

OMCs asked to maintain LPG reserves to meet at least thirty days of demand: Official

Officials stated that India’s domestic production of LPG presently stands at about 72,000 metric tonnes per day.

India needs 215 mega cargo hubs to move 45% of goods by train by 2047: report

To achieve the 45% target under the National Rail Plan, Indian Railways would need to handle nearly 12,649 million metric tonnes of freight a year by 2047, said the report by CII and Knight Frank India.

$51 Billion Opportunity: This Sector Can Create 26 Lakh Jobs, Improve Cities

India produces 1.71 lakh tonnes of municipal solid waste every day. About half of it is organic waste.

Congress alleges mismanagement, corruption in ONGC and GSPC; seeks PM’s reply on fuel output decline

The party claims India has suffered an annual loss of 3.695 million metric tonnes in petrol, diesel, and gas production since 2014