Foreign investors (FIIs/FPIs) net sold shares worth Rs 1987 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 4225 crore on June 11, as per provisional data on the exchange.
During the session, DIIs purchased shares worth Rs 16,823 crore and sold shares worth Rs 12,598 crore. Meanwhile, FIIs bought shares worth Rs 14,001 crore but sold shares totalling Rs 15,988 crore.
For the year so far, FIIs have been net sellers of nearly Rs 3.34 lakh crore worth of shares, while DIIs net bought Rs 4.21 crore shares.Market viewAt close, the Sensex was down 150.63 points or 0.20 percent at 73,832.55, and the Nifty was down 53.35 points or 0.23 percent at 23,161.60.
Among sectors, private bank, media, pharma up 0.5-2 percent, while IT index shed 1.4%, PSU Bank, Realty, Energy, Consumer Durables down 0.5% each.ICICI Bank, Kotak Mahindra Bank, Grasim, M&M, JSW Steel were among top gainers on the Nifty, while losers were Infosys, HCL Tech, Adani Ports, Trent, Eternal.Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services noted that Indian equities are expected to remain volatile in the near term, with sentiment likely to be weighed down by escalating geopolitical tensions in West Asia. “The United States has launched fresh strikes against multiple targets in Iran. Markets are closely watching for signs of resolution, which remains the key monitorable in the near term.”During the session, more than 80 stocks touched their 52-week low on the BSE, including HCL Tech, LTM, Zensar Tech, EID Parry, Rail Vikas Nigam, Dalmia Bharat, Kalyan Jeweller, Swiggy, HDFC Life, eClerx Services, Wipro, SBI Life Insurance, TCS, ICICI Prudential, P and G, Reliance Industries, Jyothy Labs, Bharti Hexacom, among others.
The equity benchmark indices Sensex and Nifty trimmed a part of their early losses on Thursday supported by value buying at lower levels and technical support near key levels.
However, markets turned green later in the day, with the Sensex trading at 74,284.97, up 301.79 points or 0.41 percent, at around 12:30 pm, while the Nifty was trading at 23,291.45, up 76.50 points or 0.33 percent.
Honasa Consumer gained 3 percent after multiple brokerages reiterated positive views following its investor day on Wednesday. ICICI bank was the top gainer in the benchmark Nifty50 index.
Key reasons behind market paring losses
1) Value buying: Buying interest emerged at lower levels after the initial decline, helping the benchmarks recover from the day's lows.
2) Technical Support: Vatsal Bhuva, Technical Analyst at LKP Securities, said the expected trading range for the Nifty is 23,000-23,550. He said 23,200 is the immediate support level, while the 23,000-23,100 zone is seen as positional support. The key resistance zone is placed at 23,450-23,550.
3) Firm global cues: Wall Street futures traded in the green, indicating a positive start to the US markets later in the day. US markets ended significantly lower on Wednesday.
4) India Vix eases: The fear gauge or the volatility index eased to 15.57 level. Today also happens to be Sensex expiry day.
Renewable energyis no longer a distant theme. It has become central to how countries think aboutpower, industry andenergysecurity. As electricity demand rises, clean energy is becoming important for both growth and sustainability.
India is also moving fast in this direction. The government has been pushing renewable capacity, solar manufacturing, green energy corridors and domestic clean-energy supply chains. This has created opportunities for companies across solar, wind, EPC, equipment and allied renewable businesses.
In this article, we look at renewable energy stocks that are growing fast, but are also showing signs of financial discipline. The idea is not to look only at sales growth. The focus is on companies that combine growth with returns, cash generation and promoter commitment.
For this, we first ran a Screener filter. The filter included companies with market capitalisation above Rs 1,000 crore, 3-year sales growth above 15%, RoCE above 12%, debt-to-equity below 2, positive net profit margin in the preceding year, positive operating cash flow over three years, and promoter holding above 50%.
#1 Oriana Power: Balancing Asset Monetization with 39.6% RoCE
Incorporated in 2013, Oriana Power is engaged in two main business verticals: providing of EPC and operations of solar power projects, and offering solar energy solutions on a BOOT (build, own, operate, transfer) basis.
Oriana Power Financial Performance
Metric
Oriana Power
FY26 revenue growth YoY
83.7%
FY26 PAT growth YoY
59.1%
FY26 operating cash flow
Rs 337 crore
RoCE
39.6%
RoE
39.6%
EV/EBITDA
8.7x
Source: Screener.in, Q4 Earnings call transcript
Oriana Power reported a strong FY26, helped by higher execution in renewable energy projects and a wider push across solar, storage and green fuels. Revenue from operations rose 83.7% year-on-year (YoY) to Rs 1,814 crore in FY26. Net profit rose to Rs 252 crore up 59.1%.
The company’s growth was backed by strong project activity. Oriana said it has delivered more than 835 MW of solar projects. It also has over 700 MW of solar capacity under execution and 2,500 MW in the pipeline. The company has acquired or is processing around 4,780 acres of land across India. It also carries a CRISIL rating of A-/Stable.
Diversifying Into BESS: Moving Beyond Pure-Play Solar EPC
The company is also expanding beyond plain solar EPC. It has more than 1,000 MWh of Battery Energy Storage Sytem (BESS) projects under execution and more than 3,000 MWh of BESS capacity in the pipeline. During FY26, it secured its first utility-scale solar plus BESS hybrid project of 100 MW/300 MWh connected at CTU. It also commissioned its first group captive open access project in Rajasthan, which the company says is its first integrated hybrid project combining solar and BESS.
Oriana also made progress in larger and more complex renewable projects. It secured one of the world’s large floating solar installations at Maithon Dam in Jharkhand. It entered Latin America through a solar project at an international airport in Guyana. It also commissioned its first ISTS-connected solar project at Prayagraj, Uttar Pradesh. The company further secured open access grid connectivity across Rajasthan, Haryana and Tamil Nadu.
Another area to watch is green fuels. Oriana signed a 10-year green ammonia purchase agreement with SECI for 60,000 tonnes per annum. The company said the contract value is estimated at around Rs 3,135 crore. It is also working on green fuel projects in states such as Madhya Pradesh, Andhra Pradesh, Maharashtra and Uttar Pradesh.
The company is also using partnerships to scale. It signed a joint development agreement with Actis GP LLP for developing 1 GW of renewable energy assets over two years. Oriana will act as the project development and turnkey partner. It also proposed monetisation of around 238 MW of operational solar assets to an Actis group entity at an enterprise value of around $108 million. This asset recycling is expected to support future growth capital.
The financial quality remains central to the stock’s inclusion in this screen. Oriana had positive operating cash flow of Rs 337 crore in FY26, compared with Rs 290 crore in FY25. Return on capital employed (RoCE) stood at 39.6%, while return on equity (RoE) was also at 39.6%. The stock trades at an EV/EBITDA of 8.7 times, compared with its one-year average of 13.7 times. Promoter holding stood at 57.98% as of March 2026.
The Working Capital Headwind: Managing High Debtor Days
The main risk is working capital. Debtor days improved from 146 days in FY25 to 135 days in FY26, but they remain high. The cash conversion cycle stood at 89 days. This means collections will remain important as execution scales up.
For now, Oriana Power fits the article’s quality-growth filter. It combines strong sales growth, high return ratios and positive operating cash flow. The next test will be execution. The company will need to convert its solar, BESS and green fuel pipeline into projects without stretching working capital too much.
In the past year, the share price of Oriana Power is down 19.5%.
Oriana Power 1 Year Share Price Chart
Source: Screener.in
#2 Waaree Energies: Decoupling a Rs 53,000Cr Order Book From Global Tariff Risks
Incorporated in December 1990, Waaree Energies is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW. It has five solar module manufacturing facilities in India, with international presence.
Waaree Energies Financial Performance
Metric
Waaree Energies
FY26 revenue growth YoY
83.7%
FY26 PAT growth YoY
101%
FY26 operating cash flow
Rs 1,627 crore
RoCE
38.8%
RoE
32.8%
EV/EBITDA
12.7x
Source: Screener.in, Q4 Earnings call transcript
Waaree Energies reported a strong FY26, helped by higher module sales, better margins and a larger order book. Revenue from operations rose 84% YoY to Rs 26,537 crore. Net profit doubled to Rs 3,884 crore, up 101% from the previous year.
The company’s scale remains a key part of the story. Waaree said its module manufacturing capacity now stands at around 26 GW. It also has 5.4 GW of operational cell manufacturing capacity. During FY26, module production reached 12.6 GW, while module sales stood at nearly 12 GW.
Order Book Visibility: De-Risking Sales via 65% International Orders
Growth visibility also remains strong. The company said its order book was around Rs 53,000 crore, compared with Rs 47,000 crore at the end of Q4 FY25. The order book does not include the retail business, which contributes around 20% of revenue. Overseas orders form nearly 65-70% of the total order book and are expected to be delivered over the next three to four years.
Waaree is also expanding beyond modules. It has planned capex of about Rs 30,000 crore across verticals. The company has started construction of a 10 GW ingot-wafer facility at Nagpur. It also commissioned an additional 3 GW module manufacturing capacity at Samakhiali, Kutch. Expansion in batteries, solar cells, ingot wafers, inverters and green hydrogen electrolysers is progressing as per schedule.
The company is also building a wider energy-transition platform. It plans 20 GWh of battery energy storage capacity, including 3.5 GWh in the current financial year and 16.5 GWh by the next year. It is also setting up 4 GW inverter capacity, 20,000 MVA transformer capacity, 2,500 TPD PV glass capacity and 1 GW green hydrogen electrolyser capacity. This marks its move from a solar module maker to a broader clean-energy manufacturing player.
Waaree is also working on global diversification. Its 1.6 GW US manufacturing facility has already ramped up. The company expects to expand US capacity to 4.2 GW over the next six months. Management said this should help it serve the US market through local capacity and reduce exposure to tariff-related risks.
The return profile also supports its inclusion in the quality-growth screen. RoCE stood at 38.8%, while RoE was 32.8%. The stock trades at an EV/EBITDA of 12.7 times, compared with its one-year average of 18.2 times. The company has also maintained debt-to-equity below one despite heavy capex cycles, according to management. Promoter holding stood at 64.19% as of March 2026.
The Inventory Drag: Evaluating Weaker Operating Cash Conversion
The main area to watch is cash conversion. Cash from operating activity was positive at Rs 1,627 crore in FY26. But it declined from Rs 3,158 crore in FY25. Cash flow from operations to operating profit also fell to 47%. Management attributed weaker cash conversion partly to inventory build-up due to logistics delays and export shipment issues.
For now, Waaree Energies fits the quality-growth filter. It has strong sales growth, high return ratios, positive operating cash flow and a large order book. The next test will be execution. The company will need to complete its large capex programme, protect margins and improve cash conversion as it moves deeper into cells, wafers, storage, glass and other energy-transition businesses.
In the past year, the share price of Waaree Energies is up 7.2%.
Waaree Energies 1 Year Share Price Chart
Source: Screener.in
#3 Fujiyama Power Systems: Aggressive Tier-2 Penetration vs Negative Cash Flows
Founded in 2017, Fujiyama Power Systems manufactures products and provides solutions in the rooftop solar industry, including on-grid, off-grid, and hybrid solar systems.
Fujiyama Power Systems Financial Performance
Metric
Fujiyama Power Systems
FY26 revenue growth YoY
72.3%
FY26 PAT growth YoY
94.6%
FY26 operating cash flow
Rs -3 crore
RoCE
35%
RoE
36.4%
EV/EBITDA
20.6x
Source: Screener.in, Q4 Earnings call transcript
Fujiyama Power Systems reported a strong FY26, helped by higher sales in rooftop solar products and wider distribution reach. Revenue from operations rose to Rs 2,655 crore, up 72.3% YoY. Net profit increased to Rs 304 crore up about 94.6%.
The company operates in rooftop solar, with a focus on off-grid and hybrid solar solutions. Management said its products are mainly used as backup systems in areas with inconsistent grid supply. This gives the company a stronger presence in Tier 2 and Tier 3 markets, where solar is often seen as a necessity rather than only an investment product.
Fujiyama also expanded its distribution network during the year. It added more than 80 distributors, over 450 dealers and 30 exclusive Shoppe outlets during the quarter. Its total channel partner network crossed 8,900 as of March 2026. Management said this has helped it deepen its presence in existing markets and enter new regions.
Ratlam Capacity Expansion: Setting Up for Peak Revenue Scaling
The company also made progress on capacity expansion. It commissioned a 2,000 MW solar panel manufacturing facility at Ratlam. Management said the Ratlam facility can generate peak revenue of around Rs 5,000 crore once all lines are fully operational and utilised. The facility is expected to ramp up through FY27 and reach higher utilisation by FY28.
Fujiyama is also strengthening backward integration. It is setting up a 1,200 MW TOPCon solar cell manufacturing facility at Ratlam. Management said this is important for meeting ALMM 2 requirements and for supporting the rooftop solar business. The company also said cell manufacturing will mainly help margins, as it is a backward integration step rather than a direct revenue addition.
The company’s product mix is broader than just panels. It sells solar panels, power electronics and batteries. In Q4, management broadly indicated a 40:40:20 revenue mix between solar panels, electronics and batteries. It also said power electronics and lithium battery capacity expanded during the year.
Fujiyama fits the quality-growth screen on return ratios and promoter ownership. RoCE stood at 35%, while RoE was 36.4%. Promoter holding stood at 86.76% as of March 2026The stock trades at an EV/EBITDA of 20.6 times, compared with its one-year average EV/EBITDA of 27.2 times.
Cash Flow Vulnerabilities: Navigating a 180-Day Inventory Cycle
The main weakness is cash flow. Operating cash flow was slightly negative at Rs 3 crore in FY26. Free cash flow was also negative due to heavy investing activity. Inventory days rose to 180 days. Management said inventory increased mainly due to raw material stocking, new locations and capacity expansion.
For now, Fujiyama Power Systems fits the renewable quality-growth theme better than a general engineering supplier. It has strong sales growth, high return ratios and high promoter holding. But the cash-flow picture is weaker than the headline profit growth. The next test will be whether the company can scale Ratlam, improve working capital and convert growth into stronger operating cash flow.
In the past year, the share price of Fujiyama Power Systems rallied 54.4%.
Fujiyama Power Systems 1 Year Share Price Chart
Source: Screener.in
Conclusion
The renewable energy story is not just about fast growth anymore. Many companies are growing because the sector itself is expanding. The real question is whether they can grow without stretching debt, cash flows or working capital too much.
These three companies stand out because they have shown strong FY26 growth and healthy return ratios. They also have high promoter holding, which was one of the key filters used for the screen.
Still, this is not a risk-free theme. Capex plans, inventory levels, project execution and cash conversion will matter from here. In a sector where demand is strong, the better companies will be the ones that turn growth into real cash and steady returns.
The table shows that while all three companies have delivered strong growth and high return ratios, cash conversion and valuation remain the key differentiators.
Abu Dhabi Investment Authority-owned Platinum Jasmine is likely to sell a 2.3 percent stake in Lenskart Solutions, with a floor price of Rs 486 per share and a block deal size of Rs 1,944 crore, according to CNBC-TV18.Platinum Jasmine A 2018 Trust held a 12.08 percent stake in Lenskart as of March 2026.
Vascon Engineers The company has received a Letter of Intent (LoI) worth Rs 347.43 crore from the Central Public Works Department (CPWD), Guwahati, for the demolition and redevelopment of RBI quarters at Zoo-Narengi Road Colony, Guwahati, Assam. The project has been awarded on an EPC basis.
ZEE Entertainment Enterprises The Board has approved raising capital of a minimum of Rs 2,300 crore in one or more phases/tranches to fund the company's strategic and business initiatives.
Deccan Gold Mines The company has announced the signing of a definitive Earn-In, Option and Shareholders Agreement for the Logrosan Tungsten Project in Spain.Under the agreement, Deccan Gold will invest EUR 1.76 million to progressively acquire a 51 percent stake in Logrosan Minera SL by March 2027. It will subsequently have the option to increase its ownership to 75 percent, subject to agreed milestones and an independent valuation. The company may further increase its stake to as much as 95 percent over time through future funding participation and dilution provisions.
PPAP Automotive PPAP has entered into a partnership agreement with Hutchinson to manufacture advanced body sealing systems in India for the passenger vehicle segment.The partnership will provide PPAP with access to Hutchinson's technology, licensed know-how, engineering expertise, and technical support.
Power Grid Corporation Power Grid said its Board has approved the upgradation of SCADA and associated systems of NTAMC/RTAMC at an estimated cost of Rs 485.04 crore.The Board also approved availing an unsecured term loan facility of JPY 80 billion from JBIC and participating financial institutions. Additionally, Venkata S V has been appointed as Chief General Manager (Finance & Accounts) and Chief Financial Officer (CFO) of the company, effective July 1.
Central Bank of India The bank has raised deposit rates by up to 253 basis points (bps), taking rates to as high as 6 percent for 3–5-year FCNR(B) schemes, according to CNBC-TV18.
Punjab National Bank The bank has revised its Foreign Currency Non-Resident (FCNR(B)) deposit rates to up to 6.10 percent per annum and expects to mobilise around USD 2.5 billion through the scheme.Bulk DealsMeeshow FID FDI 2117 LLC sold 2.59 crore shares in Meesho for Rs 428.21 crore at Rs 165.18 per share, while FID FDI 312 LLC offloaded 3.38 crore shares for Rs 559.93 crore at Rs 165.21 per share. Together, the transactions represented a 1.31 percent stake worth Rs 988.1 crore. Both sellers are investment vehicles of Fidelity Investments.As of March 2026, FID FDI 312 LLC held a 1.13 percent stake (5.15 crore shares) in Meesho.
Sapphire Foods Ibdia T Rowe Price International Discovery Fund purchased an additional 24.62 lakh shares, equivalent to a 0.76 percent stake, in Sapphire Foods for Rs 44.3 crore at Rs 179.97 per share. Meanwhile, the Government of Singapore sold 21.8 lakh shares, representing a 0.67 percent stake, for Rs 39.35 crore at Rs 180.46 per share.As of March 2026, T. Rowe Price International Discovery Fund held a 1.99 percent stake in Sapphire Foods, while the Government of Singapore owned 6.72 percent of the company.
CMR Green Technologies Goldman Sachs Funds – Goldman Sachs India Equity Portfolio purchased 19.41 lakh shares, representing a 0.88 percent stake, at Rs 256.64 per share, valuing the transaction at Rs 49.81 crore.Roadstar Infra Investment TrustWhiteOak Capital RIET & InvIT Alternates Fund I purchased 42.5 lakh units of Roadstar Infra Investment Trust for Rs 24.43 crore, while DSP Mutual Fund sold 25.5 lakh units for Rs 14.66 crore. The transaction price was
The Nifty 50 failed to witness follow-through buying due to pressure at higher levels and closed with moderate losses on June 10. The index could not defend the 23,400 mark (the 50 percent Fibonacci retracement of the April rally) on a closing basis and remained below all key moving averages, which continued to trend downward. As long as the index stays below 23,500, the consolidation phase may continue. The immediate and crucial support is placed at 23,100, and a fall below this level, followed by sustained trading, could open the door for strong bearish action. However, reclaiming and holding above the 23,500 level could increase the possibility of an upmove toward the 23,800–24,000 zone, according to experts.
Levels For The Nifty50 (23,215)
Resistance based on pivot points: 23,367, 23,424, and 23,516
Support based on pivot points: 23,183, 23,126, and 23,034
The Nifty 50 formed a small-bodied bearish candle with a long upper shadow on the daily charts, indicating pressure at higher levels. The index remained below all key moving averages and the midline of the Bollinger Bands, while the momentum indicators signalled a mixed picture. The RSI, at 39.01, remained below its signal line, while the MACD also sustained below its reference line, although weakness in the histogram continued to fade. All these factors indicate a cautious market undertone with limited buying interest at higher levels.
2) Key Levels For The Nifty Banj (55,100)
Resistance based on pivot points: 55,430, 55,555, and 55,757
Support based on pivot points: 55,025, 54,900, and 54,698
Resistance based on Fibonacci retracement: 55,809, 57,195
Support based on Fibonacci retracement: 54,576. 53,687
The Nifty Bank also witnessed profit booking after surpassing the 55,500 zone and closed 0.2 percent lower. However, it defended its 50-day EMA on a closing basis, with short-term moving averages continuing to trend upward. The RSI eased slightly to 54.66 but remained above its signal line, while the MACD maintained a positive crossover with further expansion in the green histogram bars. All these indicators suggest that the broader trend remains positive despite some near-term profit-taking.
3) Nifty50 Call Option Data:
According to the weekly options data, the 23,500 strike holds the maximum Call open interest (with 65.49 lakh contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 23,400 strike (60.21 lakh contracts) and 23,300 strike (56.3 lakh contracts).
Maximum Call writing was observed at the 23,400 strike, which saw an addition of 32.66 lakh contracts, followed by the 23,900 and 23,300 strikes, which added 28.02 lakh and 24.33 lakh contracts, respectively. There was hardly any Call unwinding seen in the 22,500-23,900 strike band.
4) Nifty50 Put Option Data:
On the Put side, the maximum Put open interest was seen at the 22,500 strike (with 58.19 lakh contracts), which can act as a key support level for the Nifty in the short term. It was followed by the 23,200 strike (49.55 lakh contracts) and the 23,000 strike (46.33 lakh contracts).
The maximum Put writing was placed at the 22,500 strike, which saw an addition of 23.81 lakh contracts, followed by the 22,800 and 23,400 strikes, which added 13.25 lakh and 12.19 lakh contracts, respectively. The maximum Put unwinding was seen at the 22,900 strike, which shed 48,815 contracts, followed by the 23,900 and 23,800 strikes, which shed 8,905 and 6,240 contracts, respectively.
5) Nifty Bank Call Option Data:
According to the monthly options data, the 54,000 strike holds the maximum Call open interest, with 9.89 lakh contracts. This can act as a key level for the index in the short term. It was followed by the 55,000 strike (9.87 lakh contracts) and the 56,000 strike (9.37 lakh contracts).
Maximum Call writing was observed at the 55,300 strike (with the addition of 1.64 lakh contracts), followed by the 55,500 strike (1.24 lakh contracts) and 56,000 strike (65,670 contracts). The maximum Call unwinding was seen at the 55,000 strike, which shed 67,050 contracts, followed by the 54,500 and 54,000 strikes, which shed 35,520 and 32,910 contracts, respectively.
6) Nifty Bank Put Option Data:
On the Put side, the maximum Put open interest was seen at the 54,000 strike (with 13.92 lakh contracts), which can act as a key support level for the index in the short term. This was followed by the 55,000 strike (8.98 lakh contracts) and the 55,500 strike (5.58 lakh contracts).
The maximum Put writing was placed at the 55,300 strike (which added 89,220 cont&hracts), followed by the 55,500 strike (41,310 contracts) and 55,200 strike (27,570 contracts). The maximum Put unwinding was seen at the 54,500 strike, which shed 53,220 contracts, followed by the 54,700 and 54,800 strikes, which shed 26,400 and 22,620 contracts, respectively.
Domestic gold prices slipped below the Rs 1,50,000-per-10-gram mark on Wednesday (June 10), as traders continued to book profits ahead of key US inflation data, amid concerns that higher inflation could keep interest rates elevated for longer.
The 24-karat gold price traded at Rs 1,47,489 per 10 grams on MCX, down more than Rs 3,500 in a single session. The decline marks a sharp reversal of 9 percent from the recent highs of Rs 1,64,500 per 10 grams recorded on May 13, when prices surged following the government's import duty hike on the precious metal.
"The correction has been significant after the import duty-driven spike on May 13. The initial rally following the duty hike largely reflected higher domestic costs rather than a fresh fundamental breakout, and prices have since retraced as markets refocus on global macroeconomic factors," Jateen Trivedi, VP Research Analyst (Commodity & Currency) at LKP Securities, said.According to market experts, the import duty hike helped gold achieve the Rs 1,65,000 target almost immediately, but that move was largely policy-driven and created a profit-booking opportunity rather than a fresh long-term breakout.Spot gold prices last closed below the Rs 1.50 lakh mark on May 11, 2026, settling at Rs 1,49,942 per 10 grams on the NSE.
Gold prices vary as per purity. Here's how the price of 10 grams of 24-karat, 22-karat, and 18-karat pure gold moved today.Gold prices vary among cities. Here's how the prices of 10 grams of gold moved in your city.
Gold outlook: Should investors buy, hold or sell?Market experts estimate that the next important support for gold is seen near Rs 1,45,000 per 10 grams. On the upside, Rs 1,55,000 remains a major resistance level, and as long as prices remain below this mark, overall sentiment is likely to remain weak."The recent correction in gold prices is largely driven by a stronger US dollar, supported by robust economic data, which has reinforced expectations of prolonged higher interest rates. Elevated bond yields have further reduced the appeal of non-yielding assets like gold. For investors, the decline presents an opportunity to accumulate through a staggered SIP approach or on dips," Hareesh V, Head of Commodity Research at Geojit Investments Limited, said
US President Donald Trump on Wednesday warned that the United States would "hit Iran hard today", while accusing Tehran of dragging its feet on a peace agreement that he claimed was already fully negotiated.
Speaking to reporters, Trump said Washington was prepared to take tougher action against Iran even as diplomatic efforts continued.
"We are going to hit Iran hard today," Trump said.The US president also accused Iranian negotiators of delaying a deal that he said would have benefited Tehran."We're going to be attacking them, attacking them very hard," Trump told reporters in the Oval Office.
"We were really close to a deal, but they keep tapping us along, they keep playing us for suckers."Despite the threat of military action, Trump maintained that an agreement remained possible. "I think they are going to want to make a deal," he said.According to Trump, the negotiations have already been completed and only require Iran's approval. "All they have to do is sign the paper. It's fully negotiated."The president once again stressed that preventing Iran from obtaining a nuclear weapon remains a central objective of US policy."Iran cannot have a nuclear weapon, and they won't, and they have agreed to that," he said.Trump also claimed that the United States had been taking steps to disrupt Iranian oil exports, although he did not provide evidence for the assertion."We have been taking out millions of barrels of oil. Nobody knows it. You know who doesn't know about it? Iran, until right now," he said.In another striking claim, Trump said the US had recently seized vessels linked to Iran."We took 22 ships the other night, late at night, with no lights because they have no radar," he said.The comments come amid renewed tensions between Washington and Tehran following recent military exchanges that have put additional strain on an already fragile ceasefire.Trump indicated that regional efforts to broker an agreement were continuing and mentioned Pakistan's involvement in diplomatic contacts."Pakistan is still working for a deal with Iran," he said.The US president added that he had been engaged in discussions with Iran for several months and again urged Tehran to accept the proposed agreement."I have been working with Iran for a number of months, and they should sign the deal. It's a good deal," Trump said.Earlier today, Trump accused Iran of taking too long to negotiate a peace deal and warned it would "have to pay the price", as the head of the United Nations cautioned against a return to all-out war.Iran and the US once again traded fire following the downing of an American helicopter, further straining a ceasefire that took effect in April but has been marked by sporadic flare-ups of violence.The exchange drew international calls for restraint on the eve of the World Cup, which the US is co-hosting and Iran is participating in.Trump had said on Tuesday that talks to bring about a definitive end to the Middle East war were in the "final throes", only to offer a starkly different assessment a day later."Iran is all talk and no action," he said on Wednesday. "They've taken too long to negotiate a deal that would have been great for them, now they will have to pay the price!!!"Separately, Trump told a Fox News journalist that because peace talks had stalled, he was getting closer to targeting Iran's power plants and bridges."I may keep going," he was quoted as saying. "They had a chance to sign a deal and survive."In a sign that diplomacy was continuing, however, negotiators from Qatar -- which along with Pakistan has been assisting in mediation efforts -- travelled to Tehran on Wednesday "to meet with the Iranians in an effort to bridge the remaining gaps", a diplomat with knowledge of the situation said.
