Business
Govt raises Rs974b in PIB auction | The Express Tribune
KARACHI:
The government mobilised Rs973.8 billion through the auction of Pakistan Investment Bonds (PIBs) on Wednesday, reflecting strong investor interest despite expectations of steady rates in the near term.
According to results released by the State Bank of Pakistan (SBP), bids worth Rs1.44 trillion were received against various maturities, including two-year, three-year, five-year, 10-year and 15-year fixed-rate instruments.
The government accepted a total of Rs771.9 billion in competitive bids, while total acceptance, including non-competitive bids and short selling, reached Rs792.7 billion (face value). The total realised amount, including accrued interest, stood at Rs973.84 billion.
Cut-off yields edged higher across most tenors, signalling the cautious stance of investors amid persistent fiscal challenges and inflationary pressures. The two-year PIB was sold at a cut-off yield of 11.4792%, while yields on three-year and five-year papers were 11.4900% and 11.6390%, respectively. The 10-year bond fetched 12.0005% and the 15-year instrument settled at 12.2500%.
The auction saw the highest participation in the 15-year PIB, attracting bids worth Rs539.5 billion, though only Rs340 billion was accepted.
Furthermore, the Pakistani rupee appreciated one paisa against the US dollar on Wednesday, closing at 280.86 in the inter-bank market. The currency has depreciated 0.82% since the start of the current calendar year but has appreciated 1.03% so far in the current fiscal year, according to Ismail Iqbal Securities.
Meanwhile, gold prices in Pakistan slipped even as international bullion rates climbed over 1%, with investors shifting towards safe-haven assets amid stronger-than-expected US private payrolls data.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold dropped Rs1,000 per tola, settling at Rs419,362. Similarly, the rate for 10-gram gold fell Rs857 to Rs359,535.
On Tuesday, the precious metal had already lost Rs3,500 per tola, closing at Rs420,362.
Commenting on the trend, Adnan Agar, Director at Interactive Commodities, said there had been “no significant new development” in the gold market. “Prices were range bound between $3,900 and $4,000 per ounce. Gold hit a low of $3,929 and a high of $3,987, trading near $3,980. The market is making lower lows but remains confined within this range,” he noted.
He added that the $3,930-3,910 zone remained a key support area where prices often rebounded, only to retreat again near the $4,000 level. “Unless there’s a decisive breakout, gold is expected to continue oscillating within this band.”
Morgan Stanley has an equal-weight rating on SBI with the target price raised to Rs 1,025. Analysts said the key positive from SBI’s July-Sept (Q2FY26) results was a 5% higher net interest income (NII) over analysts’ estimates and strong fees. Its profit after tax (PAT, pre-exceptional gain) was 15% above estimates, while asset quality remained strong. Analysts raised earnings per share (EPS) estimates by high single-digit percentage points for FY26 to FY28.Jefferies has a buy on M&M with the target price Raised to Rs 4,300. Analysts said the auto major delivered 14th consecutive quarter of double-digit earnings before interest, taxes, depreciation and amortisation (EBITDA) growth, with Q2FY26 up 23% on the year (YoY), ahead of analysts’ estimates. M&M raised FY26 outlook for tractors and LCVs, and now expects double-digit growth across segments. Analysts also said it has gained market share across SUV, tractors and LCVs in recent years. It also plans to launch three new SUVs in CY26, and a new SUV platform in CY27.HSBC has a buy on Adani Ports with the target price raised to Rs 1,700. Analysts said for the company Q2FY26 marked another quarter of continued improvement in return on capital employed (ROCE) across major businesses, notably in international ports. Robust underlying demand, market share gains, and overseas expansion underpin its 1,000 million metric ton throughput ambition for 2030. The company’s strategic pivot to focus on ROCE improvement should drive rerating.Citigroup has a buy rating on Paytm with the target price at Rs 1,500. Analysts said the company reported strong growth and market share momentum in credit on UPI (Rupay & Postpaid) is a tailwind that is likely to continue to aid net payment margins ex-devices. Additionally, device costs (across new device capex, refurbishment) have meaningfully declined, improving device economics. They said overall, Paytm reported a solid beat on EBITDA/EBIT on lower cloud costs and lower depreciation & amortisation. They said PayTM’s outlook on growth and EBIT margins are robust.CLSA has a hold rating on Kaynes Technology with the target price slightly reduced to Rs 6,375 from Rs 6,410 earlier. Analysts said the company’s Q2FY26 top line was largely in line while margins were slightly better. It maintained its FY26/FY28/FY30 revenue guidance, indicating consistently strong growth. However, cashflow conversion remained low, with around Rs 510 crore working capital increase largely due to receivables, which the company expects to improve going forward. While analysts are positive on the company on its strong growth outlook, low free cash flow generation could raise risks of consistent fund raise.
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Petrol, Diesel Price On November 7: Check City-Wise Rates Across India Including In Delhi, Mumbai and Chennai.
Petrol, Diesel Prices On November 7
Petrol and Diesel Prices on November 7, 2025: OMCs update petrol and diesel prices daily at 6 AM, aligning them with fluctuations in global crude oil prices and currency exchange rates. This daily revision promotes transparency and ensures consumers have access to the most up-to-date and accurate fuel prices.
Petrol Diesel Price Today In India
Check city-wise petrol and diesel prices on November 7:
| City | Petrol (₹/L) | Diesel (₹/L) |
|---|---|---|
| New Delhi | 94.72 | 87.62 |
| Mumbai | 104.21 | 92.15 |
| Kolkata | 103.94 | 90.76 |
| Chennai | 100.75 | 92.34 |
| Ahmedabad | 94.49 | 90.17 |
| Bengaluru | 102.92 | 89.02 |
| Hyderabad | 107.46 | 95.70 |
| Jaipur | 104.72 | 90.21 |
| Lucknow | 94.69 | 87.80 |
| Pune | 104.04 | 90.57 |
| Chandigarh | 94.30 | 82.45 |
| Indore | 106.48 | 91.88 |
| Patna | 105.58 | 93.80 |
| Surat | 95.00 | 89.00 |
| Nashik | 95.50 | 89.50 |
Key Factors Behind Petrol and Diesel Rates
Petrol and diesel prices in India have remained unchanged since May 2022, following tax reductions by the central and several state governments.
Oil Marketing Companies (OMCs) update fuel prices daily at 6 am, adjusting for fluctuations in global crude oil markets. While these rates are technically market-linked, they are also influenced by regulatory measures such as excise duties, base pricing frameworks, and informal price caps.
Key Factors Influencing Fuel Prices in India
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Crude Oil Prices: Global crude oil prices are a primary driver of fuel prices, as crude is the main input in petrol and diesel production.
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Exchange Rate: Since India relies heavily on crude oil imports, the value of the Indian rupee against the US dollar significantly affects fuel costs. A weaker rupee typically translates to higher prices.
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Taxes: Central and state-level taxes constitute a major portion of retail fuel prices. Tax rates vary across states, leading to regional price differences.
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Refining Costs: The cost of processing crude oil into usable fuel impacts retail prices. These costs can fluctuate depending on crude quality and refinery efficiency.
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Demand-Supply Dynamics: Market demand also influences fuel pricing. Higher demand can push prices up as supply adjusts to consumption trends.
How to Check Petrol and Diesel Prices via SMS
You can easily check the latest petrol and diesel prices in your city through SMS. For Indian Oil customers, text the city code followed by “RSP” to 9224992249. BPCL customers can send “RSP” to 9223112222, and HPCL customers can text “HP Price” to 9222201122 to receive the current fuel prices.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
November 07, 2025, 07:13 IST
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Tesla shareholders have approved a record-breaking pay package for boss Elon Musk that could be worth nearly $1tn (£760bn).
The unprecedented deal was approved by 75% of Tesla shareholders who cast votes at the firm’s annual general meeting on Thursday.
The deal requires Musk, who is already the world’s richest man, to drastically raise the electric car firm’s market value over a period of years. If he meets various targets, he will be rewarded with hundreds of millions of new shares.
The scale of the deal is controversial, but the Tesla board argued that Musk might leave the company if it was not approved – and that it could not afford to lose him.
The announcement drew loud applause from the audience at the meeting in Austin, Texas. Musk took to the stage and danced to chants of his name.
“What we’re about to embark upon is not merely a new chapter of the future of Tesla, but a whole new book,” he said.
“Other shareholder meetings are snoozefests but ours are bangers. Look at this. This is sick,” Musk said.
The milestones Musk achieve include raising Tesla’s market value to $8.5tn from $1.4tn at time of writing.
He would also need to get a million self-driving “Robotaxi” vehicles into commercial operation.
But his early remarks on Thursday placed the spotlight on the Optimus robot, dashing the hopes of some long-time analysts and Tesla watchers who want Musk to focus on reviving the company’s electric vehicle business.
“Let it sink in where Musk’s head is at,” wrote analyst Gene Munster, the managing partner at Deepwater Asset Management, on X.
“His vision of the ‘new book’ starts with Optimus. No mention of cars, FDS and robotaxi yet.”
Later in his remarks, Musk did refer to FSD, shorthand for full-self driving, saying the company was “almost comfortable” allowing drivers to “text and drive essentially.”
He also likened dealing with regulators to being in a Franz Kafka novel.
US regulators are investigating Tesla’s self-driving feature after multiple incidents in which the cars drove through red lights or on the wrong side of the road.
Some of these incidents have resulted in crashes that have caused injuries.
Tesla shares were slightly higher in after hours trading but have risen more than 62% over the last six months.
Wedbush Securities’ Dan Ives, a tech analyst whose been a long time advocate of Musk’s leadership of Tesla, called Musk “Tesla’s biggest asset” in a note published after the vote.
“We continue to believe that the AI valuation is getting unlocked, and we believe the march to an AI driven valuation for TSLA over the next 6-9 months has now begun,” Mr Ives added.
SBI, Adani Ports & more: Top stocks to buy on November 7 — Check list – The Times of India
Petrol, Diesel Fresh Prices Announced: Check Rates In Your City On November 7
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