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Amid the heat of the ongoing Lok Sabha electioneering, the Centre has announced plans to significantly increase wheat purchase from non-traditional States of Uttar Pradesh, Rajasthan and Bihar and set a target of seven-fold jump in procurement to 50 lakh tonnes in the ongoing 2024-25 marketing year. Further, even as the ban on outbound shipments…
File. | Photo Credit: C. Venkatachalapathy The rupee depreciated 6 paise to 83.45 against the U.S. dollar in early trade on April 5, as market participants remained cautious ahead of the announcement of the Reserve Bank of India’s rate-setting panel’s decision. Forex traders said the local unit was also weighed down by a strong American…
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Governor Das, announcing the Monetary Policy decision, said that CPI inflation for FY25 has been projected at 4.5%. The Committee has maintained its figures from February. Back in February, CPI inflation was projected at 5.4 per cent for 2023-24 with Q4 at 5.0 per cent. Food inflation pressures accentuated in February; MPC remains vigilant towards…
The Monetary Policy Committee (MPC) on April 5 decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50%. This is the 7th time that the rates have been kept on hold. The MPC also decided to remain focused on withdrawal of accommodation to ensure that inflation progressively aligns to the…
HDFC Bank, Bajaj Finserve, Nestle India and Mahindra & Mahindra defied the trend and were trading with gains. File. | Photo Credit: PTI Benchmark equity indices Sensex and Nifty retreated from their record peaks and traded lower in early trade on April 5 as investors turned cautious ahead of RBI’s interest rate decision, amid muted…
Consumer goods maker Dabur India flagged sluggish demand in the March quarter and indicated slowing revenue growth from prior quarters on Thursday, sending shares to a near six-month low. Dabur said it expects mid-single digit percentage revenue growth in the quarter ended March 31, compared to a 7% rise in the December-quarter and 7.3% jump…
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Representational image of a Vistara flight | Photo Credit: PTI Two trade unions of Air India pilots joined cause with Vistara’s cockpit crew and said in a letter addressed to Tata Sons Chairman N. Chandrasekaran that concerns over a revised pay structure and hectic rosters extended to all Tata Group airlines, where crew were being…
The rupee on April 04 recovered 9 paise to close at 83.44 (provisional) against the U.S. dollar, tracking a firm trend in domestic markets and upbeat macroeconomic data. A weak U.S. dollar against major crosses overseas also supported the domestic unit. However, elevated crude oil prices and sustained foreign fund outflows capped the sharp gain,…
Read More “Rupee rises 9 paise to close at 83.44 against U.S. dollar” »
Equity benchmark indices Sensex and Nifty rebounded sharply to hit record fresh highs on April 04, propped up by buying in IT, consumer durables and financial stocks amid expectations of a robust corporate performance. Besides, investors lapped up select banking stocks expecting a status quo in the interest rate decision of the RBI’s monetary policy…
Read More “Sensex, Nifty hit record highs as HDFC, TCS rise” »
Image for representation purpose only. | Photo Credit: Reuters Two senior U.S. treasury officials are in India to urge New Delhi to maintain the implementation of the oil price cap aimed at limiting profits to Russia, while also promoting stable global energy markets. Acting Assistant Secretary for Terrorist Financing Anna Morris and PDO Assistant Secretary…