Gold rate today: Yellow metal eases; Buy on dips for target of Rs 49,000, say experts

Gold prices in India traded flat with a negative bias on the Multi Commodity Exchange (MCX) Wednesday following steady international spot prices as investors opted for profit booking at higher levels. However, sentiment for the yellow metal remains bullish as rising coronavirus cases globally supported investment demand, analysts said. “Gold prices were flat on the absence of any major macroeconomic data. The sentiment still remains positive amid rising safe-haven demand,” said Ajay Kedia, director, Kedia Commodity Comtrade.

Top gainers and losers at this hour

France's Groupe ADP to buy 49% stake in GMR airport business

France's Groupe ADP has infused Rs 4,565 crore, which is the second tranche of investment, in GMR Airports Limited (GAL) to conclude its deal to purchase a total of 49 percent shareholding in the company, said an official statement. The GAL manages airports at Delhi and Hyderabad. On February 21, the company had announced that Groupe ADP would acquire 49 percent stake in it for 10,780 crore. In its first tranche of investment, Groupe ADP had paid Rs 5,248 crore on February 26 to the GAL to purchase 24.99 percent in it.

Surplus pilots, weak demand amid pandemic may force IndiGo to pause hiring

IndiGo, the largest airline in India, has been known to hire pilots in bulk given its expansion plans comprising over 600 incoming aircraft and an ambition for aggressive international rise. However, the unprecedented disruption caused due to COVID-19 pandemic seems to have forced the airline to hit the pause button on hiring and inducting pilots. The airline is unlikely to induct new batch of pilots before early 2021 as around 400 junior first officers and 300 senior pilots—who are in transition—are still in line to complete their respective training and flying hours, CNBC-TV18 has learnt.

US formally notifies UN of decision to withdraw from WHO

The Trump administration has formally notified the United Nations of its decision to withdraw the US from the World Health Organization, officials said, breaking off ties with the global health body amid the expanding coronavirus pandemic. The US has accused the WHO of siding with China on the outbreak of the virus, which originated in the Chinese city of Wuhan late last year, alleging the health body misled the world resulting in deaths of over half a million people globally, including over 130,000 in America.

Wednesday's top brokerage calls: Titan, Bharti Airtel and more