Business
Rupee Slumps 24 Paise to 73.66 Against US Dollar in Early Trade
Mumbai: The Indian rupee slumped 24 paise to 73.66 against the US dollar in opening trade on Wednesday, after the Reserve Bank of India (RBI) maintained status quo on policy rates for the fifth time in a row. The central bank kept its key policy repo rate unchanged at...
Foreign Portfolio Investors Pull Out Rs 4,615 Crore from Indian Markets in April So Far
Foreign portfolio investors (FPIs) have pulled out a net Rs 4,615 crore from Indian markets in April so far amid sharp escalation in COVID-19 cases and the consequent restrictions imposed by various states, unnerving overseas investors. According to the depositories data, overseas investors pulled out Rs 4,643 crore from...
Mukesh Ambani Dethrones Jack Ma in Asia; India Has World’s 3rd Highest No. of Billionaires: Forbes
India has the third-highest number of billionaires in the world after the US and China, according to a new list by the prestigious Forbes magazine, which said Reliance Industries Chairman Mukesh Ambani reclaimed his spot as Asia’s richest person, dethroning Chinese business tycoon Jack Ma who was the richest...
Subscription Date, Price Band; Check Details Here
The initial public offering (IPO) of Macrotech Developers, earlier known as Lodha Developers, opened for subscription on Wednesday, April 7, and will close on Friday, April 9, 2021. The IPO has a price band of Rs 483-486 per share and the company aims to raise close to Rs 2,500...
M-Cap of 7 of Top-10 Valued Firms Tumble Over Rs 1.41 Lakh Crore
Seven of the 10 most valued firms witnessed a combined erosion of Rs 1,41,628.37 crore in market valuation last week, with IT companies taking the biggest hit. The market valuation of Tata Consultancy Services tumbled Rs 47,680.78 crore to reach Rs 11,81,218.07 crore. The market capitalisation of Infosys declined...
RBI Keeps Repo Rate Unchanged at 4%, Projects Real GDP Growth for 2021-22 at 10.5%
The Reserve Bank of India (RBI) on Wednesday kept repo rates unchanged and maintained an accommodative stance to sustain growth. The policy repo rate or the short-term lending rate was kept at 4 per cent, and the reverse repo rate is 3.35 per cent. RBI Governor Shaktikanta Das headed...
Shares of Restaurant Chain Barbeque-Nation Falls 2 Percent in Debut Trade
Shares of Barbeque-Nation Hospitality fell 2% in their market debut on Wednesday, after the casual dining restaurant chain raised about 4.53 billion rupees ($61.62 million) through an initial public offering (IPO). The trading debut comes as a resurgence in coronavirus infections in India threatens to derail a nascent recovery...
Sensex Rallies 460 Points, Nifty Reclaims 14,800 As RBI Keeps Repo Rates Unchanged
Equity benchmark Sensex rallied 460 points on Wednesday after the RBI expectedly left interest rates unchanged and maintained an accommodative stance as the economy faces a renewed threat to growth due to the resurgence of coronavirus cases. The 30-share BSE index jumped 460.37 points or 0.94 per cent to...
To Boost Domestic Production, Govt OKs Rs 6,238 Crore PLI Scheme for Air-conditioners, LED Lights
The government on Wednesday approved a production linked incentive (PLI) scheme for white goods – Air Conditioners and LED Lights – with a budgetary outlay of Rs 6,238 crore. The proposal was approved in a Union Cabinet meeting, chaired by Prime Minister Narendra Modi. Commerce and Industry Minister Piyush...
US Trade Deficit Jumps 4.8% to $71.1 Billion in February
The US trade deficit grew to $71.1 billion in February, as a decline in exports more than offset a slight dip in imports. The February gap between what America buys from abroad compared to what it sells abroad jumped 4.8 per cent the revised January deficit of $67.8 billion,...
Covid-19 Pandemic Leaving Behind Complex Legacies That Will Need to Be Tackled: IMF Official
The Covid-19 pandemic is leaving behind complex legacies that will need to be tackled, a top IMF official said on Wednesday, as he underlined the need for policies that must remain agile and respond flexibly as the situation may require. The pandemic has affected almost every country in the...
Education, Financial Sectors Should be Focus Areas for Revenue Expenditure: Gita Gopinath
The IMF on Tuesday projected an impressive 12.5 per cent growth rate for India in 2021, stronger than that of China, the only major economy to have a positive growth rate last year during the COVID-19 pandemic. The Washington-based global financial institution, in its annual World Economic Outlook ahead...
Recovery is Underway After Worst Global Recession Since World War II: IMF MD
IMF A day after the International Monetary Fund forecast a global growth of six per cent for this year, IMF Managing Director Christine Georgieva has said that after the worst global recession since the Second World War, the recovery is underway. The outlook, she asserted, is brighter because millions...
Top Stocks for Investors on April 8
The stock market on Wednesday, April 7, gave a positive ending after the Reserve Bank of India (RBI) kept the repo rate unchanged at 4 percent in its monetary policy announcement. The indices on Thursday, April 8, are expected to give a higher opening as the SGX Nifty was...
Petrol, Diesel Prices Remain Unchanged for 9th Day; Check Today’s Rates in Metro Cities
A worker holds a nozzle to pump petrol into a vehicle at a fuel station. (File photo/Reuters) Petrol price in the national capital stands at Rs 90.56 per litre, Rs 90.77 in Kolkata, Rs 92.58 in Chennai, while its highest in Mumbai among metros at Rs 96.98. Petrol and...
Rate Rises by Rs 10 Per Gram, Silver Too Gains Marginally
The gold rates on Thursday, April 8, increased by Rs 10 as the price of one gram of 22-carat gold stood at Rs 4,430 from Rs 4,420 on the previous day. The price of 10 grams of 22-carat-gold jumped by Rs 100 to stand at Rs 44,300 from the...
Sensex Surges Over 300 Points in Early Trade; Nifty Tops 14,900
Equity benchmark Sensex surged over 300 points in early trade on Thursday, tracking gains in index heavyweights HDFC twins, ICICI Bank and Infosys amid a positive trend in global markets. The 30-share BSE index was trading 343.32 points or 0.69 per cent higher at 50,005.08, and the broader NSE...
Sensex Ends 84 Pts Higher After Choppy Trade; IT Stocks Rally
Equity benchmark Sensex ended 84 points higher after a volatile session on Thursday as concerns over rising coronavirus infections and resultant restrictions across the country kept investors on the edge. The 30-share BSE index settled 84.45 points or 0.17 per cent higher at 49,746.21. The broader NSE Nifty advanced...
