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Indian Rupee notes are seen in this picture illustration. | Photo Credit: REUTERS The rupee depreciated 6 paise to 82.81 against the US dollar in early trade on Tuesday, August 8, 2023 as a negative trend in domestic equities and firm crude oil prices weighed on investor sentiments. Forex traders said the rupee is trading…
File. | Photo Credit: V. RAJU Individuals reporting annual total income of over ₹1 crore have doubled to 1.69 lakh in the two-year period ending March 2022, the income tax department data showed. As per the tax return data filed in assessment year (AY) 2022-23, relating to income earned in fiscal 2021-22, 1,69,890 individuals have…
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File. | Photo Credit: Arunangsu Roy Chowdhury The benchmark equity indices ended with gains on Monday, extending the previous day’s rally, unfazed by a weak trend in global markets amid buying in Mahindra & Mahindra, Infosys, Tata Consultancy Services and Reliance Industries. However, continuous foreign fund outflows prevented the markets from registering a sharp rally….
Read More “Sensex, Nifty extend gains on buying in Mahindra & Mahindra, Infosys, TCS, RIL” »
Image used for representative purpose only. | Photo Credit: REUTERS The rupee gained 10 paise to 82.71 against the U.S. dollar in early trade on Monday tracking positive domestic equities. However, sustained foreign fund outflows and strength of the American currency in the overseas market dented investor sentiments, forex traders said. At the interbank foreign…
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The 30-share BSE Sensex climbed 210.43 points to 65,931.68 in early trade on August 7. | Photo Credit: Vivek Bendre Benchmark equity indices climbed in early trade on August 7, extending their previous day’s rally, amid buying in index majors ICICI Bank and Reliance Industries along with a mixed trend in Asian markets. The 30-share…
A vendor weighs tomatoes for a customer at a vegetable market in Ahmedabad on July 25, 2023. | Photo Credit: Reuters India’s retail inflation may have spiked close to or over the 6% upper tolerance threshold of the Reserve Bank of India (RBI) in July, owing to a broad-based uptick in food prices, and could…
Read More “Rising food prices may undo recent respite from inflation” »
Reliance Industries Ltd, India’s most valuable company, has sought shareholder’s approval to give Mukesh Ambani another five-year term as chairman and managing director of the company till 2029 — a period during which he has opted to draw nil salary. Mr. Ambani, 66, will cross the company law-mandated 70 years age for the chief executive…
A laptop showroom in Chennai. | Photo Credit: The Hindu The Directorate General of Foreign Trade (DGFT) on August 4 delayed Thursday’s notification restricting imports of laptops, PCs, tablets and servers to India ‘with immediate effect’ to November 1, after Customs officials stationed at ports of entry started holding up electronics shipments. Government officials sought…
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File photo of State Bank of India (SBI) chairman Dinesh Kumar Khara. | Photo Credit: PTI State Bank of India (SBI) reported first quarter net profit surged 178.25% to ₹16,884 crore as compared with ₹6,068 crore a year earlier on account of improvement in asset quality and loan growth. This is the bank’s highest-ever net…
File. | Photo Credit: C. Venkatachalapathy The rupee fell by 8 paise to settle at a more than two-month low against the U.S. dollar on August 4 weighed down by safe-haven dollar demand and higher crude oil prices. Foreign fund outflows also weighed on the local unit, analysts said. At the interbank foreign exchange, the…
Read More “Rupee falls 8 paise to close at over two-month low against U.S. dollar” »