According to RBI Bulletin, the Indian rupee has begun to gain in July on the back of strong capital inflows, barring intermittent corrections, in spite of increase in the trade deficit and firming international crude prices weighing on the downside. Despite volatility triggered by spillovers over market expectations relating to the future course of monetary policy and a fluctuating US dollar (DXY), the rupee is trading in a tight range. Currency hedging costs have accordingly become lower than earlier. The euro is being reportedly preferred as the currency to fund long rupee carry trade. Meanwhile, in June, INR depreciated by 0.1 per cent (m-o-m) vis-vis the US dollar as emerging market currencies faced depreciating pressures on the back of the strengthening US dollar and rising commodity prices. The INR, however, remained one of the least volatile major currencies during the month, the central bank noted.

Dee Development Engineers informed that it has bagged a purchase order worth Rs 6.33 crore from the Bharat Heavy Electricals (BHEL).

Global economic activity appears to be strengthening across advanced economies (AEs) and emerging market economies (EMEs) and global trade in goods and services is gathering momentum, according to RBI’s July Bulletin. Monetary policy divergence is setting the tone for global economic developments. In India, the second quarter of 2024-25 has begun with signs of quickening momentum in the economy. The improvement in the outlook for agriculture and the revival of rural spending have turned out to be the bright spots in the evolution of demand conditions. Consumer price inflation ticked up in June 2024 after three consecutive months of moderation as a broad flare-up in vegetables prices halted the overall disinflation that had been underway.

K.P. Energy has successfully commissioned further 23.1MW (Phase-X) ISTS connected Wind Power Project comprising 11 numbers of WTGs of 2.1MW each at Sidhpur site in Devbhoomi Dwarka. This Phase-X commissioning is a part of the 250.8MW ISTS connected Wind Power Project capacity awarded to Apraava Energy by Solar Energy Corporation of India (SECI) under Tranche-VIII bidding.