|Day's Range||35.05 - 35.85|
|52 Week Range||26.80 - 46.50|
|PE Ratio (TTM)||-1.54|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
India is exploring setting up a new payments mechanism for trade with Iran, after its old sanctions workaround broke down, as state banks remain fearful of handling payments from Tehran in case the United States imposes a fresh financial embargo. U.S. President Donald Trump has denounced an agreement between Iran and major powers on its nuclear programme as a bad deal, and his administration has put Tehran "on notice" after the test-firing of a ballistic missile.
Indian businessman Pankaj Bansal is losing sleep. "I have been forced to take sleeping pills now to avoid nightmares as my business with Iran has drastically come down," said Bansal, 43, from his base in a teeming commercial district of South Delhi. Bansal's trading firm, TMA International, has expanded from metals into motors, auto parts and chemicals as rivals were shut out of Iran by Western sanctions aimed at forcing Tehran into a nuclear compromise.
India and the United States vowed on Thursday to step up joint efforts to halt illicit money flows after revelations that Iranian oil export revenues had been siphoned out of an Indian bank in a suspected money-laundering scheme. Indian Finance Minister Arun Jaitley said the case centering on state-controlled UCO Bank had not come up as part of his talks with U.S. Treasury Secretary Jack Lew, but added that Indian authorities had strengthened their financial oversight. Investigators suspect that a group of people from Iran and Azerbaijan, after entering India on student visas, set up a group of shell companies in a provincial city to obtain as much as $3.2 billion from UCO Bank.