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<ul><li>The scope of the project involves design, supply, construction and testing, and commissioning of the depot.</li><li><keyword id="6354919" type="General" weightage="20" keywordseo="lt" source="Orion">L&amp;T</keyword> is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services. It has operations in over 50 countries.</li><li>Shares of L&amp;T were trading marginally up by 0.06 per cent at ₹ 2,085.65 on <keyword id="35140" type="General" weightage="50" keywordseo="bse" source="Orion">BSE</keyword> in preclose session. </li></ul> <keyword id="147676" type="General" weightage="50" keywordseo="larsen" source="Orion">Larsen</keyword> and Toubro (L&amp;T) on Monday said it has bagged another "large" order in the proposed <keyword id="1025777" type="General" weightage="20" keywordseo="mumbai-ahmedabad" source="Orion">Mumbai-Ahmedabad</keyword> bullet train project from the National High-Speed Rail Corporation. The project involves commissioning of a depot spread over around 82 hectares in Gujarat, L&amp;T said in a filing to exchanges. Though the engineering and construction giant did not reveal the worth of the order, as per the project classification of the company, a large project falls in the range of ₹ 2,500 crore to ₹ 5,000 crore. "The buildings and factories business of L&amp;T Construction has secured an order from the <keyword id="6432751" type="General" weightage="20" keywordseo="national-high-speed-rail-corporation-limited" source="Orion">National High-Speed Rail Corporation Limited</keyword> (NHSRCL) to construct the Sabarmati Depot (MAHSR - D-2) in Gujarat for the (MAHSR project through a consortium led by <keyword id="1137882" type="General" weightage="50" keywordseo="sojitz-corporation" source="Orion">Sojitz Corporation</keyword>, Japan," it said. The scope of the project involves design, supply, construction and testing, and commissioning of the depot spread over approximately 82 hectares including various specialised equipment required to inspect and maintain the rolling stock based on the proven <keyword id="1932907" type="General" weightage="50" keywordseo="shinkansen" source="Orion">Shinkansen</keyword> technology and upon completion, will be the biggest depot in India for this purpose. L&amp;T is already executing civil viaduct and station packages (C4, C5 &amp; C6), special steel bridges packages P4(X) and P4 (Y), and ballastless track works for the bullet train project. L&amp;T is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services. It has operations in over 50 countries. Shares of L&amp;T were trading marginally up by 0.06 per cent at ₹ 2,085.65 on BSE in preclose session. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-germany-ink-deal-on-comprehensive-migration-and-mobility-partnership/articleshow/96001711.cms">India, Germany ink deal on comprehensive migration and mobility partnership</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/kolkata-hyderabad-and-pune-remain-indias-most-affordable-residential-cities-jll/articleshow/96001910.cms">Kolkata, Hyderabad and Pune remain India’s most affordable residential cities: JLL</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/e-commerce-platform-carousell-lays-off-110-employees-to-reduce-costs/articleshow/95997109.cms">E-commerce platform Carousell lays off 110 employees to reduce costs</a>

L&T bags new large order in Mumbai-Ahmedabad bullet train project

If you think <keyword id="10387" type="CITY" weightage="60" keywordseo="Microsoft">Microsoft</keyword>’s prolonged search for the next <keyword id="5645" type="POSITION" weightage="100" keywordseo="CEO">CEO</keyword> is getting a bit nutty, especially with a disgruntled <keyword id="62333" type="PERSON" weightage="60" keywordseo="Steve-Ballmer">Steve Ballmer</keyword> waiting on the sidelines to hand over the mantle, you are not far from the truth. But then, that is the actual state of the coveted C-Suite nowadays – volatile is the right word if you want to sum it up. There is no job security at the top and even the best performer for years can get redundant within the span of a few weeks. The issues could be many – right from <keyword id="646347" type="UNKNOWN" weightage="100" keywordseo="poor-performance">poor performance</keyword> to <keyword id="610960" type="UNKNOWN" weightage="100" keywordseo="business-restructuring">business restructuring</keyword> to alleged <keyword id="6375736" type="UNKNOWN" weightage="100" keywordseo="corruption-charges">corruption charges</keyword>. But the biggest factor is relevance, a perfect future-fit that can take companies ahead, according to <keyword id="67736" type="UNKNOWN" weightage="100" keywordseo="Industry-experts">industry experts</keyword>. In a difficult <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword>, companies are compelled to twist and turn to keep track of profitability and their requirements change accordingly. Hence, their leaders have to adapt, shape up or ship out, as the case might be. 
 India is no exception and business leaders across the country have been frequently ‘released’ by industry giants. Many of them leave with ‘immediate effect’ while others are on garden leave or worse still, waiting for their predecessors to turn up (just like Ballmer). Yet, most of the C-Suite executives are tight-lipped about their departures, at least here in India. We are yet to come across an announcement like the one made by <keyword id="384914" type="PERSON" weightage="60" keywordseo="Groupon">Groupon</keyword>’s founder and former CEO <keyword id="488139" type="PERSON" weightage="60" keywordseo="Andrew-Mason">Andrew Mason</keyword>. But exit happens all the same – be it discreet or blatant. Here’s a quick look at some of the top-notch C-Suite executives from India who parted ways with their respective companies in 2013, their official exit lines and what happened behind the scene.

Strife At The Top: These
11 C-Suite Execs From India
Were ‘Let Go’ In 2013

The <keyword id="3274960" type="COMPANY" weightage="20" keywordseo="National-High-Speed-Rail-Corporation-Limited">National High Speed Rail Corporation Limited</keyword> (NHSRCL) on Saturday said that it has opened two <keyword id="1115984" type="PERSON" weightage="20" keywordseo="Technical-bids">technical bids</keyword> for <keyword id="34617" type="COMPANY" weightage="20" keywordseo="construction">construction</keyword> or building of bridges for the 508 km Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor in the state of <keyword id="6354766" type="LOCATION" weightage="20" keywordseo="Gujarat">Gujarat</keyword> and <keyword id="382155" type="PERSON" weightage="20" keywordseo="Dadra">Dadra</keyword> and Nagar Haveli in which nine companies have participated. NHSRCL spokesperson Sushma Gaur said that the technical bids for contract packages of P-1(B) and P-1(C) for construction or building of bridges for the MAHSR corridor in the state of Gujarat as well union territory of Dadra and Nagar Haveli. She said that as of now, 5 bidders for <keyword id="10880154" type="UNKNOWN" weightage="20" keywordseo="p-1">P-1</keyword> (C) whereas four bidders for P-1 (B) have submitted their bids for the package. She said that the P-1 (C) package includes construction of bridges for double line High Speed railway for four PSC Bridges and seven steel truss bridges between Zaroli Village at Maharashtra -- Gujarat Border and Vadodara, in Gujarat and the union territory of Dadar and Nagar Haveli for the project. Gaur said that for the P-1 (C) package, Ranjit Buildcon Limited, MG Contractors Pvt Ltd, KEC-SAM India JV and GRIL-GPT JV have participated in the technical bids. Meanwhile, package P-1 (B) includes the construction of bridges for double line high speed railway for one PSC Bridge and four steel truss bridges between Vadodara and <keyword id="5065" type="LOCATION" weightage="20" keywordseo="Ahmedabad">Ahmedabad</keyword>, in Gujarat for the project. She said that Ranjit Buildcon Limited, MG Contractors Pvt Ltd, KEC-SAM India JV and GRIL-GPT JV and URC Construction Pvt Ltd have participated in the technical bids. Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> and then Japanese Premier Shinzo Abe had on September 14, 2017 laid the foundation stone for the ambitious ₹1.08 lakh crore ($17 billion) project. Bullet trains are expected to run at 320 km per hour covering the 508-km stretch in about two hours. In comparison, trains currently plying on the route take over seven hours to travel the distance, whereas flights take about an hour. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/apple-find-my-stalking-airtags-item-safety-alerts/articleshow/81342449.cms">Apple’s new Find My feature updated to prevent stalking as launch of the rumoured AirTags nears</a> <a href="https://www.businessinsider.in/tech/news/regulating-digital-news-is-important-but-freedom-of-press-is-precious/articleshow/81341289.cms">OPINION: Regulating digital news is important but freedom of press is precious</a> <a href="https://www.businessinsider.in/stock-market/news/heranba-industries-ipo-makes-a-bumper-debut-on-stock-exchanges/articleshow/81342578.cms?upcaceh=2">Heranba Industries makes a bumper debut on stock exchanges — shares soar 44% over the issue price band</a> <a href="https://www.businessinsider.in/finance/banks/news/ignore-low-cibil-score-for-street-vendor-loans-work-on-holidays-and-other-diktats-from-indian-government-to-banks-rushing-to-meet-march-target/articleshow/81223572.cms">EXCLUSIVE: Bankers may be working all 31 days of March with the government looking to double the loans doled out under the PM SVANidhi scheme</a>

Tech bids open for Mumbai-Ahmedabad Bullet train bridge project, says NHSRCL

<keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> on Saturday defeated <keyword id="6355981" type="LOCATION" weightage="20" keywordseo="england">England</keyword> by an innings and 25 runs to win the fourth and final Test and with it the series 3-1 here. The result takes India into the final of the <keyword id="713106" type="PERSON" weightage="20" keywordseo="world-Test-championship">World Test Championship</keyword>, to be played at Lord's, London, in June. <keyword id="22501" type="LOCATION" weightage="20" keywordseo="New-Zealand">New Zealand</keyword> have already qualified for the final. Off-spinner <keyword id="320086" type="PERSON" weightage="20" keywordseo="R-Ashwin">R. Ashwin</keyword> and left-arm spinner Axar Patel bagged five-wicket hauls to bowl England out for 135 in their second innings to register the win inside three days of the five-day match. For England, the lone half-century came from Daniel Lawrence (50, 95 balls, 6x4s). The others just capitulated against the Indian spinners. Brief scores: England: 205 and 135 (Daniel Lawrence 50, <keyword id="1440669" type="PERSON" weightage="20" keywordseo="Joe-Root">Joe Root</keyword> 30, R. Ashwin 5/47, Axar Patel 5/48); India: 365 (Rishabh Pant 101, Washington Sundar 96 not out, Rohit Sharma 49, Axar Patel 43, Ben Stokes 4/89, James Anderson 3/44) Result: India won by an innings and 25 runs SEE ALSO: <a href="https://www.businessinsider.in/tech/news/apple-find-my-stalking-airtags-item-safety-alerts/articleshow/81342449.cms">Apple’s new Find My feature updated to prevent stalking as launch of the rumoured AirTags nears</a> <a href="https://www.businessinsider.in/tech/news/regulating-digital-news-is-important-but-freedom-of-press-is-precious/articleshow/81341289.cms">OPINION: Regulating digital news is important but freedom of press is precious</a> <a href="https://www.businessinsider.in/stock-market/news/heranba-industries-ipo-makes-a-bumper-debut-on-stock-exchanges/articleshow/81342578.cms?upcaceh=2">Heranba Industries makes a bumper debut on stock exchanges — shares soar 44% over the issue price band</a> <a href="https://www.businessinsider.in/finance/banks/news/ignore-low-cibil-score-for-street-vendor-loans-work-on-holidays-and-other-diktats-from-indian-government-to-banks-rushing-to-meet-march-target/articleshow/81223572.cms">EXCLUSIVE: Bankers may be working all 31 days of March with the government looking to double the loans doled out under the PM SVANidhi scheme</a>

India beats England in 4th Test, series 3-1, enters World Test Championship final

<ul><li>At 7:45 am, the SGX Nifty was down 0.18%, indicating a tepid start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start subdued on Friday, led by mixed cues from the global markets. At 7:45 am, the SGX Nifty was down 0.18%, indicating a tepid start for Nifty50. However, the <a href="https://www.businessinsider.in/stock-market/news/us-stocks-climb-as-900-billion-stimulus-deal-appears-imminent/articleshow/79782556.cms">US stocks gained on Thursday</a> and marched toward record highs as a $900 billion fiscal stimulus bill to hasten the economic recovery from the COVID-19 pandemic appeared imminent. The Dow Jones Industrial Average closed 0.49% higher, and the S&amp;P 500 was up 0.58%. These are the stocks to watch out for during the trading session today: RIL The Supreme Court has asked Reliance Industries (RIL) to deposit ₹250 crore, which is 50% of the disgorged amount of ₹447.27 crore, as per the orders of the Securities Appellate Tribunal in a case related to the sale of Reliance Petroleum (RPL) shares. Bharat Dynamics, Hindustan Aeronautics, Bharat Forge and other defence stocks Bharat Dynamics, Hindustan Aeronautics, Bharat Forge and other defence stocks will be in focus during the trade today. The defence acquisition council headed by Union Minister Rajnath Singh approved the capital acquisition of various weapons/platforms/equipment/systems required by the Army, the Navy and the Air Force at an approximate overall cost of ₹28,000 crore. HCL Tech, Infosys, TCS and other IT stocks HCL Tech, Infosys, TCS and other IT stocks will be in focus during the trade. The consulting and outsourcing services provider Accenture has raised its full-year sales forecast and beat quarterly revenue estimates on December 17. Tata Consultancy Services’ (TCS) The ₹16,000 crore share buyback programme of Information technology (IT) major Tata Consultancy Services’ (TCS) will open today (December 18). And, the offer will remain open till January 1. Zee Entertainment The board of Zee Entertainment Entertainment (ZEEL) has approved the acquisition of film production and distribution business from Zee Studios, a wholly-owned subsidiary of the former for a cash consideration of ₹275 crore. BPCL Privatisation-bound Bharat Petroleum Corporation (BPCL) board has approved buying out Oman Oil Company’s stake in the Bina refinery project in Madhya Pradesh on mutually agreeable terms. The BPCL board at its meeting on Thursday also approved merging Bharat Gas Resources (BGRL) with itself, the company said in a filing to the stock exchanges. Godrej Agrovet The Government of Telangana has allotted an area measuring up to 28,164 hectares in the Mahabubabad District of Telangana to Godrej Agrovet, for the purpose of oil palm cultivation. Canara Bank The Life Insurance Corporation of India has acquired 6.28 crore shares of Canara Bank through the qualified institutional placement, taking its total shareholding in the bank to 8.35% from 4.53%. Dishman Carbogen Dishman Carbogen promoter will sell a 4.4% stake in the company via offer for sale on December 18 and 21 at a set floor price of ₹145.70 per share. SpiceJet SpiceJet would start 30 new domestic flights in a phased manner from next week. Among the 30 flights from Sunday, six will connect Darbhanga in Bihar with Ahmedabad, Pune and Hyderabad, the airline said. PVR The board of cinema hall giant PVR will meet today to discuss its fundraising plans. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/burger-king-ipo-investors-tripled-their-money-in-three-days/articleshow/79761366.cms" data-type="tilCustomLink">Burger King's IPO investors tripled their money in three days</a> <a href="https://www.businessinsider.in/business/news/india-has-a-hot-new-debate-on-its-plate-should-the-likes-of-burger-king-kfc-and-mcdonalds-menus-mention-calories/articleshow/79771040.cms" data-type="tilCustomLink">India has a hot new debate on its plate: Should the likes of Burger King, KFC and McDonald’s menus mention calories?</a>

Top stocks to watch — RIL, TCS, HCL Tech, Zee Entertainment, BPCL, Bharat Dynamics, HAL, Bharat Forge, and others

<ul><li>Accounts of three foreign funds with over ₹43,000 crore in Adani Group shares suspended</li><li>Market regulator SEBI is also reportedly investigating if the Adani Group companies’ share price has been manipulated.</li><li>Shares of all the six listed Adani Group companies hit their respective lower circuits in the first hour of trading.</li></ul>Shares of all the six Adani Group companies listed on the Indian stock exchanges hit lower circuits in the opening session today morning (June 14). Adani Ports and Adani Transmission share prices were down by 15% each, while those of the other four companies were down by 5% each. The downward spiral in the share price of these companies has wiped out over $7.6 billion (approx. ₹55,000 crore) net worth of <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword>, according to Forbes’ real-time billionaires <a href="https://www.forbes.com/real-time-billionaires">list</a>, as of 10:00 a.m., on Monday. The meltdown was triggered by reports that the National Securities Depository Limited (NSDL) suspended the accounts of three foreign funds ⁠— all reportedly based out of the same address ⁠— that have over ₹43,000 crore invested in the Adani Group. The three accounts in question are Albula Investment Fund, Cresta Fund and APMS Investment Fund. Notably, the accounts were suspended on or before May 31. According to an Economic Times <a href="https://economictimes.indiatimes.com/markets/stocks/news/a/cs-of-3-fpis-owning-adani-shares-frozen/articleshow/83496483.cms">report</a>, the suspension could be due to insufficient disclosures under the Prevention of Money Laundering Act (PMLA). The funds had time till 2020 to disclose details on common ownership and personal details of key employees. But they didn’t. “Custodians typically warn their clients before such action but if the fund doesn’t respond or fails to comply, accounts can be frozen,” the report added, quoting an unnamed source. The rules for Indian funds investing in the stock market do not allow managers to invest in any one stock or group beyond a certain limit. But the same rule does not apply for foreign portfolio investors. According to The Morning Context, a research and media company, the three funds in question derive more than 95% of their net worth from their investments in the Adani Group companies. <table style="border-width: initial; border-style: none;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Foreign Portfolio Investor </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Networth due to Adani shares </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vespera Fund </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">98.30% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LTS Investment Fund </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">97.47% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cresta Fund </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">97.40% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Elara India Opportunities Fund </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">97% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apms Investment </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">96.18% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Albula Investment </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">95.40% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asia Investment Corporation </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35.17% </td></tr></tbody></table>Source: Trendlyne.com, via The Morning Context There are two fears emerging out of the data above. One, the funds hoarding Adani group shares to reduce the number of the tradable shares in the market. And, therefore, allowing the value of the shares to inflate. Two, this may be a case of round tripping of money, whereby Indian investors may be investing via another country, to bypass the rules. None of these premises are proven yet. The Economic Times report also states that the market regulator, Securities Exchange Board of India (SEBI), is investigating if the share price of Adani Group companies has been manipulated. The investigation is still ongoing, the report added. <cmsannotation type="cmsannotation" annotationid="Market cap of Adani Group companies has skyrocketed over the last year" comment="subhead" text="Market cap of Adani Group companies has skyrocketed over the last year">Market cap of Adani Group companies has skyrocketed over the last year</cmsannotation> The Ahmedabad-based group has leapfrogged from being a medium-sized one to one of the richest family-based businesses in India, leaving behind the likes of the Tatas, Birlas, Wadias among others. In total, the six Adani Group companies had a market cap of ₹1.64 lakh crore at the end of May last year. This has now surged to over ₹8.5 lakh crore – an increase of over 420%. <div type="image" title="BAR CHART Adani Group market cap 26_05_20 - 21_05_21." msid="83502055" hostid="261"></div> An investment of ₹10,000 across the six listed Adani group companies would be worth ₹52,000 now – a return of 420% in just 12 months. <table style="border-width: initial; border-style: none;"></colgroup></colgroup></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">May 2020 (₹ crore) </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">May 2021 (₹ crore) </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Performance </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Total Gas </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12,604 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,47,292 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1069% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15,348 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,44,603 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">842% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Transmission </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19,615 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,59,939 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">715% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Green Energy </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">37,497 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,03,392 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">442% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Power </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14,155 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">39,012 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">176% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports &amp; SEZ </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">64,448 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,57,041 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">144% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,63,666 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8,51,279 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">420% </td></tr></tbody></table> Update: Adani Ports and Logistics, part of the Adani Group, has issued the following statement. “We regret to mention that these reports are blatantly erroneous and is done to deliberately mislead the investing community. This is causing irreparable loss of economic value to the investors at large and reputation of the group. Given the seriousness of the article and its consequential adverse impact on minority investors, we requested Registrar and Transfer Agent, with respect to the status of the Demat Account of the aforesaid funds and have their written confirmation vide its email dated 14th June, 2021, clarifying that the Demat Account in which the aforesaid funds hold the shares of the Company are not frozen.” SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/adani-group-listed-stocks-every-10000-invested-last-year-is-now-worth-52000/articleshow/82968072.cms">Every ₹10,000 invested in Adani’s listed firms last year is now worth ₹52,000</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-green-energy-to-acquire-sb-energy-india/articleshow/82759578.cms">Adani Green Energy to acquire SB Energy India, boosting its renewable energy capacity by 4.9GW</a> <a href="https://www.businessinsider.in/stock-market/news/gland-pharma-ipo-from-2020-has-doubled-its-share-price-in-6-months/articleshow/82732413.cms">A super hit IPO from 2020 has finally doubled investors' money</a>

Gautam Adani loses over $7 billion in net worth after questions over the meteoric rise in group stocks

Commodities major <keyword id="2550818" type="UNKNOWN" weightage="20" keywordseo="Welspun-Enterprises">Welspun Enterprises</keyword> Ltd (WEL) and Welspun Projects Ltd (WPL), wholly owned subsidiaries of Welspun Group, have approved the merger of WEL, Welspun Infratech Ltd (WIL), Welspun Plastics Private Ltd (WPPL) and Welspun Infra Projects Private Ltd (WIPPL) with WPL. The companies informed Bombay Stock Exchange of the development in a letter on Tuesday. 
	 
	“As a result of the proposed reorganization, all the above mentioned companies will merge in WPL, a listed entity, thereby shareholders of WEL will get 12 shares of WPL for every share held in WEL,” informed the company in the letter. 
	 
	If the merger is executed successfully, the company will have access to a cash reserve of Rs 800 crore and will allow WEL, its subsidiaries and WPL to avail market opportunities through projects which will require large free cash and strong balance sheets. 
	 
	“The merger is aimed to consolidate and simplify corporate structure of Welspun Enterprises and its subsidiaries. The elimination of entities is expected to benefit in terms of superior capital structure, increased flexibility to allocate capital efficiently, reduction in administrative or compliance cost and enhanced visibility of earnings and cash flows,” stated the company. 
	 Currently, WEL holds nearly 61% stake in WPL through its subsidiary WIL, which will be nullified once the merger is completed. Consultancy firm <keyword id="50041" type="CITY" weightage="20" keywordseo="KPMG">KPMG</keyword> has been appointed as the tax and regulatory advisor for the amalgamation. The merger is expected to be completed in seven months subject to the approvals from the Stock Exchanges, Bombay High Court and Ahmedabad High Court respectively. 
	 
	Image: Indiatimes.com

Welspun Enterprise Proposes
Merger With Welspun Projects, Seeks Approval From Indian Stock Exchange

<ul><li>As per a tweet by Motilal Oswal, <keyword id="6808641" type="UNKNOWN" weightage="20" keywordseo="Bandhan-Bank-stock">Bandhan Bank stock</keyword> will be added to MSCI index effective from October 16.</li><li>Bandhan is a long -term compounder and will be able to consistently deliver over 30% growth, said a research report by Axis Capital.</li><li>The merger with Gruh Finance will also allow the rapidly expanding Bandhan Bank with an extended portfolio of loans.</li></ul> Kolkata-based lender Bandhan Bank which has been servicing rural women with small loans, is now expected to hit the big leagues soon. As per a tweet by Motilal Oswal, the bank’s stock will be added to the MSCI index effective from October 16. Investors celebrated the huge feat by a 5-year old bank and the shares jumped nearly 10%, hitting the upper circuit, after which the exchanges halted trading in the company’s shares. MSCI is Morgan Stanley Capital International index is headquartered in New York. It enters a league of top stocks which will also provide by access to global investors, institutions and funds. As per the brokerage firm, this is an effect of its merger with Ahmedabad-based Gruh Finance which recently received an approval from National Company Law Tribunal. Even before the MSCI entry, Bandhan has been one of the rare banking success stories in India. “It is well placed to deliver industry-leading return ratios with a high-yielding assetbook on one side and robust low-cost deposit franchise on the other. Bandhan is a long term compounder and will be able to consistently deliver over 30% growth,” said a research report by Axis Capital in early September. The merger with Gruh Finance will also allow the rapidly expanding Bandhan Bank with an extended portfolio of loans. Currently, around 90% of the bank’s portfolio consists of small loans only. Gruh Finance, as the name suggests, provides housing loans mostly to rural populace. This loan portfolio will provide diversity to the primarily entrepreneurship-based loans that Bandhan currently provides. The shares of Bandhan hit an upper circuit at ₹608 per share in today’s trade, increasing by over 9% in the morning trade. The stock of Gruh Finance also rose by around 7.9% as of 12 pm. <div type="image" title="Coffee Day Global Ltd. is incorporated, in order to start the cafe business (1) (2)" tempid="101146" msid="71541429" hostid="261"></div>

A five-year-old bank lending to poor women in rural India has made it to MSCI in New York

On Friday, silver rates saw a noticeable increase across India. In Delhi, 1kg of silver would cost you ₹95500 today. Meanwhile, on the MCX, silver contracts for June delivery traded higher ₹1500 settling at ₹92,500 per 1kg. <h2>Here is an extensive daily list to give you the most recent information on silver prices in India's key cities.</h2><table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">City </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10g </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1kg </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Delhi </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 940 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 94000 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 940 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 94000 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kolkata </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 940 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 94000 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chennai </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 985 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 98500 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bengaluru </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 928.50 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 92850 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hyderabad </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 985 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 98500 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ahmedabad </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 940 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 94000 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pune </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 940 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 94000 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Surat </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 940 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 94000 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nagpur </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 940 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 94000 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kerala </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 985 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 98500 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vijayawada </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 985 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 98500 </td></tr></tbody></table> <a href="https://www.businessinsider.in/finance/silver-rate-today-india-20th-june-mumbai-delhi-kolkata-bengaluru-chennai/articleshow/111126739.cms" data-type="tilCustomLink">Click to view the details of the silver rate on 20th June</a> The silver COMEX price currently stands at $30.655 per ounce, experiencing a decline of $0.166 or 0.54% from the previous trading session. Throughout the day, the price peaked at $30.905 and hit a low of $30.515, with an opening price of $30.815. This indicates a slight downturn in the silver market on the COMEX exchange. Such fluctuations in silver prices are closely monitored by traders and investors for making informed decisions in the commodities The Nifty's weekly settlement started cautiously due to a lack of major global triggers but gained bullish momentum, closing at 23,567, up 0.22%. The broader market maintained a bullish stance with positive advance-decline ratios. Despite muted price action and a narrow-bodied candlestick on the daily chart, Nifty is expected to consolidate until decisive triggers emerge. Strong support is seen at 23,450-23,400 and 23,300-23,200, while 23,650-23,700 remains challenging for the Bulls. Diverse sector participation is driving positive sentiment, emphasizing a stock-centric approach. Monitoring global indices is crucial as they will likely influence the initial market tone, says Sameet Chavan, Head Research, Technical and Derivative - Angel One. Silver prices fluctuate daily due to various short- and long-term factors, including changes in supply and demand, economic indicators, geopolitical events, currency movements, and investor sentiment. Given the dynamic nature of the precious metals market, it is crucial for investors and traders to monitor and analyze pricing data effectively to make informed decisions. These data points provide valuable insights into market trends and the factors driving price movements, aiding investors in navigating the silver market. However, investors should conduct their own research before making any investment decisions. As the trading day progresses, it is essential for investors to stay vigilant and closely monitor silver rates for emerging trends or market developments. Staying informed about daily price fluctuations allows investors to spot potential trading opportunities and make well-considered investment choices. For daily updates and in-depth analysis of silver rates, continue following our coverage on Business Insider India. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. Rates are subject to change from time to time and across multiple geographical locations. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

Silver rate today (21st June 2024): Latest Rates in Major Indian Cities

On Thursday gold rate saw a decline across India. In Delhi, the price of 10 grams of 24-carat gold was ₹ 71,880. Meanwhile, on the MCX, gold contracts for June delivery traded lower ₹270, reaching ₹ 71,730. <h2>Here is an extensive daily list to give you the most recent information on silver prices in India's key cities</h2><table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">City </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22 carat </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24 carat </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Delhi </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 65,900 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 71,880 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 65,750 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹ 71,730 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kolkata </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:0pt 0pt 0pt 9pt;overflow:hidden;overflow-wrap:break-word;">₹ 65,750 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 71,730 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chennai </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 66,250 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 72,280 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bengaluru </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:0pt 0pt 0pt 9pt;overflow:hidden;overflow-wrap:break-word;">₹ 65,750 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 71,730 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hyderabad </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 65,750 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 71,730 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ahmedabad </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 65,800 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 71,780 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pune </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 65,750 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 71,730 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Surat </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 65,800 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 71,780 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nagpur </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 65,750 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 71,730 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kerala </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 65,750 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 71,730 </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vijayawada </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 65,750 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 71,730 </td></tr></tbody></table> <a href="https://www.businessinsider.in/finance/news/gold-rate-today-india-26th-june-mumbai-delhi-kolkata-bengaluru-chennai/articleshow/111275593.cms" data-type="tilCustomLink">Click to view the details of the gold rate on 26th June</a> The gold COMEX, reported a last trade price of $2,310.90, reflecting a slight decline of $2.30 or 0.10%. During the trading session, the price reached a high of $2,314.20 and a low of $2,306.80, opening at $2,309.40. As a key benchmark for gold prices, COMEX's fluctuations are closely watched by investors and analysts worldwide, offering insights into market trends and economic conditions. The exchange plays a vital role in gold trading, impacting global prices and investment strategies. "Gold prices dropped nearly 1% to a two-week low on Wednesday, pressured by a stronger dollar and higher bond yields. The dollar reached a near two-month peak, making gold pricier for non-dollar holders, while U.S. 10-year yields rose to a near two-week high. Traders are eyeing the U.S. Personal Consumption Expenditures Price Index, the Fed's preferred inflation gauge, which could influence the central bank's interest-rate decisions. Additionally, the market is watching U.S. first-quarter GDP estimates and an important debate between President Biden and Donald Trump. Despite a dip in consumer confidence in June, optimism about the labor market persists, with expectations of moderating inflation.", says Mr. Prathamesh Mallya, DVP-Research, Non-Agri Commodities and Currencies, Angel One Ltd. Nifty started the trading session flat but gained momentum to close 0.62% higher at 23,869. This marks the third consecutive session of gains, continuing the index's positive trend. Despite the overbought condition of hourly indicators, maintaining a positive bias is suggested, with caution advised due to the monthly F&amp;O expiry session. Resistance is seen around 24,000-24,100, with support at 23,650 and a strong bullish gap at 23,550. Heavyweight stocks, particularly Reliance, have driven the market's rise, while midcaps remain subdued. Traders should be agile, focusing on sector rotations to capitalize on market opportunities, says Sameet Chavan, Head Research, Technical and Derivative - Angel One These data points provide crucial insights into market trends and the factors influencing price movements, aiding investors in navigating the gold market more effectively. However, it is essential for investors to conduct their own research before making any investment decisions. Throughout the day, investors should remain vigilant and monitor gold prices for emerging trends or market shifts. Staying informed about daily price fluctuations can help identify potential trading opportunities and support informed investment choices. For daily updates and in-depth analysis of gold prices, follow our coverage on Business Insider India. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. Rates are subject to change from time to time and across multiple geographical locations. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

Gold Rates Today (June 27, 2024): Latest Rates Across Major Cities

<keyword id="81864" type="General" weightage="20" keywordseo="ongc-videsh" source="Orion">ONGC Videsh</keyword> Ltd, the overseas investment arm of state-owned <keyword id="6359072" type="General" weightage="20" keywordseo="oil" source="Orion">Oil</keyword> and Natural Gas Corporation, has incorporated a wholly-owned subsidiary OVL Overseas IFSC Ltd in <keyword id="6424024" type="General" weightage="20" keywordseo="gift-city" source="Orion">GIFT City</keyword>, Gujarat. "This GIFT city entity will function as the <keyword id="23764" type="General" weightage="20" keywordseo="global" source="Orion">global</keyword> treasury centre to cater to the treasury activities of OVL and its 25 subsidiaries (including step-down subsidiaries) spread across 15 countries. "Given the business-friendly regulatory environment in GIFT City, OOIL (OVL Overseas IFSC Ltd) expects to efficiently consolidate funds available with the group in various countries and raise additional funds needed to achieve the ambitious target of producing 40 million tonnes of oil and oil equivalent (MMToe) by 2040 from overseas assets," the company said in a statement. India's first <keyword id="6367752" type="General" weightage="20" keywordseo="international-financial-services-centre" source="Orion">International Financial Services Centre</keyword> at GIFT City gives options to Indian and overseas multinationals to shift their overseas investments onshore. "OOIL will, thus, act as ONGC Group's gateway to the world for its overseas ventures and investments," it added. OVL owns interests in 32 <keyword id="43177" type="General" weightage="20" keywordseo="oil-and-gas" source="Orion">oil and gas</keyword> assets in 15 countries. In terms of reserves and production, it is the second largest petroleum company of India, next only to its parent Oil and Natural Gas Corporation (ONGC). Gujarat International Finance Tec-City or GIFT City is India's newest financial hub and a flagship project of Prime Minister Narendra Modi. The smart city and special economic zone has been developed in the Ahmedabad metropolitan region. Dozens of companies, including India International Exchange, National Stock Exchange, State Bank of India, HDFC Bank, GIC Re and other well recognised institutions are operating in the GIFT City.

ONGC Videsh incorporates subsidiary in GIFT City

Two more Japanese banks are set to join 10 foreign and 16 local banks in the <keyword id="880043" type="General" weightage="20" keywordseo="tax-free" source="Orion">tax-free</keyword> <keyword id="6424024" type="General" weightage="20" keywordseo="gift-city" source="Orion">GIFT City</keyword>, where more than 550 businesses with assets worth USD 47 billion have registered and begun operations, an official said.. This marks a significant expansion of the GIFT City's <keyword id="34510" type="General" weightage="20" keywordseo="financial-sector" source="Orion">financial sector</keyword>, which is expected to play a key role in India's economic growth, International Financial Services Centres Authority (IFSCA) chairman K Rajaraman said here. "We also want Indian origin funds and businesses that are located in tax-free jurisdictions to return home and be part of the growing GIFT City hub," said Rajaraman, giving this update on the Ahmedabad-based city free trade zone, where ease of doing business procedures, processes and laws have become a benchmark for international standards. IFSCA is the regulatory body for the Indian special economic zones such as the GIFT City. Rajaraman said his recent delegation to Tokyo has resulted in two Japanese banks registering in the GIFT City, and more are expected as he continued discussions with potential businesses at the Singapore Fintech Festival being held 15-17 November 2023. "We are at Singapore Fintech Festival to promote the advantages of being in Tax-Free GIFT City," he underlined. He informed that 78 fund managers with 88 alternative investment funds, 82 funds with a corpus of USD 90 billion, as well as five insurance companies and two stock exchanges - GIFT CITY Nifty of National Stock Exchange and a bullion exchange are already part of the business community that the Indian government wants to establish and be part of the global financial network. "We believe a lot of India-focus business will certainly work out of GIFT City and a lot of fast growth is seen, he said, pointing out that 122 aircraft assets have been leased out tax-free city. "We have three electronic trading platforms - international trade finance solutions for bill factoring while there are insurance companies with international joint venture partners," said Rajaraman. The Singapore Fintech Festival had 650 companies from across the world.

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