Shakti Press

Ms. Bhairavi Tushar Jani completed her second term as an Independent Director of Amara Raja Energy & Mobility Limited and retired from the Board effective August 13, 2025. Her appointment was previously approved by shareholders at the 35th Annual General Meeting held on August 7, 2020. The Board of Directors and Management expressed appreciation for her extensive contribution and stewardship during her tenure.

Sigma Solve Inc., the wholly-owned US subsidiary of Sigma Solve Limited, has appointed Ian Grunes as Chief Operations Officer. Grunes brings over 35 years of international experience in revenue strategy, global sales leadership, digital transformation, and operational excellence. In his role, he will drive revenue-generating initiatives across US and global markets, scale business development focusing on high-growth industry verticals, and oversee operational transformation to enhance profitability. Managing Director Prakash Parikh stated that the US market is central to Sigma Solve's global expansion strategy and expressed confidence that Grunes' leadership will accelerate growth and enhance competitiveness. The appointment reinforces Sigma Solve's commitment to strengthening its leadership presence in key markets, with the US serving as a strategic hub for the company's digital transformation, enterprise software, AI/ML solutions, and cloud-native offerings.

True Green Bio Energy Limited has issued a correction regarding the appointment of Mr. Suresh Chatterjee as Additional Director in the capacity of Independent Director. The Board of Directors approved his appointment for a 5-year term from August 15, 2025, to July 31, 2030, instead of the previously announced period from August 12, 2025, to August 11, 2030. The appointment remains subject to shareholder approval. Mr. Chatterjee is a finance professional with 25 years of senior-level experience in public financial institutions and private sector, with expertise in chemical engineering, financial acumen, and legal knowledge. He has no inter-se relations with other Board members and is not debarred from holding directorship by any regulatory authority.

Gold prices recovered slightly, trading at Rs 1,00,420 per 10 gm compared to Rs 1,00,250 on Wednesday, ending a two-day decline. The recovery followed US President Donald Trump's announcement that gold will not face tariffs, after US customs authorities indicated that gold bars of specific weights would be subject to levies. In major cities, Chennai recorded the highest gold price at Rs 1,00,530 per 10 gm, while Delhi saw prices at Rs 1,00,060 per 10 gm. Mumbai gold prices stood at Rs 1,00,240 per 10 gm. Over the past six months, gold reached a peak of Rs 1,02,090 on August 10 and a low of Rs 87,100 on April 7. Internationally, gold spot price was trading lower at $3,365 per ounce. Silver prices were at Rs 1,15,370 per kilogram.

Nifty 50 opened at 24607.25 with a decline of 12.1 points or 0.05%. Nifty Bank opened at 55102.55 with a drop of 78.9 points or 0.14%.

Gold rose for a third consecutive day, trading near $3,370 an ounce, following Treasury Secretary Scott Bessent's call for the Federal Reserve to lower interest rates by at least 1.5 percentage points from current levels. The comments led to falling Treasury yields and increased market expectations for Fed rate cuts, with consensus now favoring a quarter-point reduction next month. Gold has gained 28% this year, supported by geopolitical tensions and central bank purchases. Spot gold was 0.5% higher at $3,372.03 an ounce in Singapore trading. Market uncertainty remains regarding potential tariffs on US gold bar imports after President Trump indicated there would be no levy, though he provided no further details.

Oil prices stabilized near two-month lows with Brent trading around $66 per barrel and West Texas Intermediate at $63, both at levels not seen since June 5. The International Energy Agency warned that global oil inventories will accumulate faster than during the 2020 pandemic year, indicating record oversupply ahead. Oil has declined over 10% this year following OPEC+ completing its reversal of output cuts that began in 2023. US crude stockpiles increased by approximately 3 million barrels last week to two-month highs, while distillate holdings and Cushing, Oklahoma storage also rose. The IEA raised its production estimates for non-OPEC+ countries, particularly in the Americas, while the US government projects a surplus in 2026. Market conditions have loosened as Brent's prompt spread narrowed to 49 cents from nearly $1 a month ago. Traders are watching the upcoming US-Russia summit, as Donald Trump warned of severe consequences if Vladimir Putin doesn't agree to a ceasefire.

Gift Nifty opened at 24714.5, showing a change of 4.5 points, representing a 0.02% increase.