Category: Business

Business

Rupee falls 9 paise to close at all-time low of 83.33 against U.S. dollar

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Rupee falls 9 paise to close at all-time low of 83.33 against U.S. dollar

The rupee depreciated 9 paise to close at an all-time low of 83.33 (provisional) against the U.S. dollar on Wednesday, tracking a strong greenback against major rivals overseas and unabated foreign capital outflows. Besides, a negative trend in domestic equities and elevated crude oil prices amid geopolitical uncertainty in the Middle East weighed on investor…

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Business

Markets fall for 2nd day on foreign fund outflows

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Markets fall for 2nd day on foreign fund outflows

Image used for representative purpose only. | Photo Credit: REUTERS Equity benchmark indices Sensex and Nifty declined for the second day in a row on Wednesday amid unabated foreign fund outflows. Investors preferred to remain on the sidelines ahead of the U.S. Federal Reserve’s interest rate decision, traders said. The 30-share BSE Sensex declined 283.60…

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Business

Indian Firms Can Now List Directly On Foreign Stock Exchanges, But Conditions Apply: Centre

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Indian Firms Can Now List Directly On Foreign Stock Exchanges, But Conditions Apply: Centre

Centre allows direct overseas listing of Indian firms, notifies relevant section under companies law New Delhi: In a significant move, the government has permitted Indian companies to list on foreign exchanges, subject to certain conditions. The corporate affairs ministry has notified the relevant section under the companies law in this regard. Currently, overseas listings by…

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Business

GST collections rise 13% to ₹1.72 lakh crore in October

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GST collections rise 13% to ₹1.72 lakh crore in October

An Indian consumer goods trader shows letters GST representing “Goods and Services Tax” (GST)at his shop in Hyderabad on August 3, 2016. Growth in India’s gross Goods and Services Tax (GST) revenues bounced back in October with tax collections rising 13.4% to the second-highest monthly tally of ₹1.72 lakh crore. | Photo Credit: AFP Growth…

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Business

Ambuja Cements Sees Q2 Profit Of Nearly Rs 1,000 Crore

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Ambuja Cements Sees Q2 Profit Of Nearly Rs 1,000 Crore

Ambuja Cements’ total expenses were down 8.52 per cent at Rs 6,564.28 crore. New Delhi: Ambuja Cements Ltd on Wednesday reported a multifold increase in consolidated net profit at Rs 987.24 crore for the quarter ended on September 30, on reduction in operating cost. The company, now part of the Adani Group, had clocked a…

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Business

Oil marketing companies raise prices of commercial LPG gas cylinders

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Oil marketing companies raise prices of commercial LPG gas cylinders

Representational file image. | Photo Credit: E. LAKSHMI NARAYANAN In a move that is set to impact businesses and consumers, oil marketing companies (OMCs) have announced an increase in the prices of commercial LPG gas cylinders. Effective from November 1, the retail price of the 19 Kg commercial LPG gas cylinder in Delhi will see…

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Business

Manufacturing PMI signals eight-month low growth in October

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Manufacturing PMI signals eight-month low growth in October

Image for respresentational purposes only | Photo Credit: B. Velankanni Raj Manufacturing sector growth in October eased to the slowest pace since February with the uptick in new orders hitting a one-year low, as per the seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) that slipped to 55.5 from 57.6 in September.  Growth subsided…

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Business

Bancassurance channel | IRDAI constitutes taskforce to review model, carry out modifications

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Bancassurance channel | IRDAI constitutes taskforce to review model, carry out modifications

IRDAI has constituted a taskforce on the Bancassurance channel for the distribution of insurance policies through banks. Insurance Regulatory and Development Authority of India (IRDAI) has constituted a taskforce on the Bancassurance channel for the distribution of insurance policies through banks with an objective to review the model and carry out modifications if required. Citing…

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Business

Markets drop in early trade on foreign capital outflows

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Markets drop in early trade on foreign capital outflows

Representational image only. | Photo Credit: Reuters Equity benchmark indices declined in early trade on November 1 due to weakness in banking, financial, and metal stocks amid unabated foreign fund outflows. “Investors preferred to remain on the sidelines ahead of the U.S. Federal Reserve’s interest rate decision,” traders said. The 30-share BSE Sensex declined 193.99…

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Business

Rupee falls 3 paise against US dollar in early trade

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Rupee falls 3 paise against US dollar in early trade

The rupee depreciated 3 paise to 83.27 against the US dollar in the morning session on Wednesday, November 1, 2023 tracking a strong American currency overseas and muted trend in domestic equities. Persistent foreign fund outflows also weighed on the local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 83.26…

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