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Hindustan Zinc shares rise over 3% as silver prices climb and FY27 Q1 update boosts sentiment
Hindustan Zinc shares rose more than 3% in a single session, hitting a one-week high and adding about Rs 6,815 crore to the company’s market value. The move came as the dollar index fell 0.6% for the week, its biggest weekly drop since early April, helping lift MCX silver futures for September by over 2% to Rs 2.38 lakh per kg. The company also issued an FY27 Q1 business update, with refined zinc output up 6% year-on-year to 213 kt while silver output slipped 0.4%. Hindustan Zinc is India’s largest zinc producer, accounting for nearly 80% of the country’s primary zinc output, and is among the world’s top 10 silver producers.
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Muthoot Finance, Manappuram Finance climb up to 5% as MCX gold tops Rs 1.48 lakh/10 grams
Gold-related lenders including Muthoot Finance and Manappuram Finance rose about 5% as gold prices moved back above Rs 1.48 lakh per 10 grams. MCX gold futures for August gained around Rs 2,288 per 10 grams, or nearly 2%, to a high of Rs 1,48,046, while October contracts moved above Rs 1.5 lakh. International spot gold rose more than 1% after U.S. jobs data pointed to a cooling labour market and shifted expectations for the Federal Reserve’s next move.
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India’s state fuel retailers posted ₹74,781 crore in Q1 retail losses, Oil Minister Puri says
India’s oil minister Hardeep Singh Puri said state-run fuel retailers booked ₹74,781 crore in retail losses in Q1 as they continued to sell fuel made from higher-cost crude bought earlier. Brent was trading near $70 a barrel on Thursday, down 26% in a month and nearly 40% below its April high, but Puri gave no clear signal of an immediate retail price cut. He said a reduction is possible if crude prices remain steady for a while, according to Reuters. Puri also said no Indian refiner had directly exported petrol to Russia, though traders may have shipped Indian-made fuel there.
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