India suspends 39 import licenses for refined palm oil

Ritu

By Ritu, Capital Sands India has suspended 39 licences to import 452,303 tonnes of refined palm oil after a surge in duty-free purchases from neighbors such as Nepal and Bangladesh which are not key producers, government and trade sources. The suspension could reduce India’s palm oil imports in the next […]

Indian shares hit six-week high, HDFC surge lifts banks

Ritu

By Ritu, Capital Sands Indian shares rose more than 1% on Wednesday to their highest in over six weeks, tracking an improved global mood due to the easing of some coronavirus lockdowns, while a surge in HDFC pulled financial stocks higher. While India’s own stringent restrictions remain largely in place, […]

Three Indian refiners cut Mideast oil imports in May

Ritu

By Ritu, Capital Sands   At least three Indian refiners have curbed oil imports from Middle East producers, including Saudi Arabia, for May because of storage constraints as local fuel demand slumped following the coronavirus outbreak, company officials said. This is the second consecutive month that Indian refiners have cut […]

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