Month: June 2024

Netherlands emerges as India’s 3rd largest export destination in 2023-24

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Image for representation. | Photo Credit: The Hindu The Netherlands has emerged as India’s third largest export destination after the U.S. and UAE during 2023-24, even as the country’s merchandise shipments dipped by over 3%, according to the Commerce Ministry data. The main commodities which registered healthy exports growth in the Netherlands include petroleum products…

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Volvo to issue world’s first EV battery passport ahead of EU rules

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Image for representation. | Photo Credit: Reuters Volvo Cars is launching the world’s first EV battery passport recording the origins of raw materials, components, recycled content and carbon footprint for its flagship EX90 SUV, which is about to start production, the Swedish automaker told Reuters. The passport was developed by Volvo, which is owned by…

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Indian IT saw deal recovery in May: BNP Paribas

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Image for representation purpose only. | Photo Credit: K.R. Deepak Deal wins, largely driven by banking, financial services and insurance verticals, by IT services companies saw a recovery in May, reported BNP Paribas India. Commenting on the deal win trend, Kumar Rakesh, Analyst – IT & Auto at BNP Paribas said, ‘‘Deal wins certainly saw a…

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Bloodbath on D-Street on vote counting day: Sensex suffers worst single-day retreat in 4 years

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In the biggest single-day fall in four years, benchmark stock indices Sensex and Nifty plunged by nearly 6 per cent on Tuesday as vote counting trends showed the BJP may not have a clear majority in the Lok Sabha polls. Reversing its Monday’s sharp gains of over 3 per cent, the 30-share BSE Sensex nosedived…

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Rupee plunges 45 paise to close at 83.59 against US dollar

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Image for representational purposes | Photo Credit: Getty Images/iStockphoto The rupee tumbled 45 paise to close at 83.59 (provisional) against the US dollar on Tuesday as the ruling BJP is unlikely to muster an absolute majority in the Lok Sabha elections. Besides, a massive sell-off in domestic equities and a strong greenback against major currencies…

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Election Results 2024 financial markets were given artificial booster dose by exit polls

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Congress leader Jairam Ramesh | Photo Credit: PTI As financial markets went for a tumble on June 4 after the trends of the Lok Sabha poll results showed that the BJP was not getting a majority on its own, the Congress said the markets were given an artificial booster dose by the exit polls and…

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Rupee falls 26 paise to 83.40 against U.S. dollar in early trade

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The rupee plunged 26 paise to 83.40 against the U.S. dollar in early trade on Tuesday as initial counting for the Lok Sabha elections indicated a mixed trend. A weak trend in domestic equity markets also dented sentiments in early deals, forex traders said. According to television reports, the BJP-led NDA surged ahead with leads…

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