Category: Business

Business

Rupee falls 2 paise to close at 83.27 against U.S. dollar

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Rupee falls 2 paise to close at 83.27 against U.S. dollar

The rupee settled 2 paise lower at 83.27 (provisional) against the U.S. dollar on Wednesday, tracking negative cues from domestic equity markets amid surging crude oil prices overseas. However, fresh foreign capital inflows and a weak greenback against major rivals overseas favoured the rupee and restricted the loss, forex traders said. At the interbank foreign…

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Business

Sensex sinks 550 points to slip below 66k on spike in crude oil prices, weak global trend

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Sensex sinks 550 points to slip below 66k on spike in crude oil prices, weak global trend

Equity benchmark index Sensex tumbled 551 points to close below the 66,000 level on Wednesday due to profit-taking in banking, financial and energy stocks amid a sharp jump in global crude oil prices. A sluggish trend in global equity markets following lingering geopolitical worries also sapped the risk appetite of investors, traders said. After a…

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Business

Govt hikes wheat MSP by ₹150 per quintal to ₹2,275/quintal for 2024-25: I&B minister

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Govt hikes wheat MSP by ₹150 per quintal to ₹2,275/quintal for 2024-25: I&B minister

Union Minister Anurag Thakur addresses the media during cabinet briefing, in New Delhi, on Oct. 18, 2023. | Photo Credit: PTI Ahead of assembly polls in key wheat growing states, the government on Wednesday announced an increase in the minimum support price (MSP) of wheat by ₹150 to ₹2,275 per quintal for the 2024-25 marketing…

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Business

India Allows Export Of Over 10 Lakh Tonnes Of Non-Basmati White Rice To 7 Countries

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India Allows Export Of Over 10 Lakh Tonnes Of Non-Basmati White Rice To 7 Countries

Government has permitted exports of 10,34,800 tonnes of non-basmati white rice (Representational) New Delhi: The government today said it has permitted exports of 10,34,800 tonnes of non-basmati white rice to seven countries, including Nepal, Cameroon and Malaysia. The export is permitted through National Cooperative Exports Limited (NCEL), the Directorate General of Foreign Trade (DGFT) said…

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Business

Sensex declines 161 points in early trade on sluggish global trends

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Sensex declines 161 points in early trade on sluggish global trends

Equity benchmark indices declined in early trade on Wednesday, October 18, 2023 amid sluggish global market trends and spike in Brent crude oil prices. After a day’s breather, the 30-share BSE Sensex declined 161.41 points to 66,266.68. The Nifty skidded 36.7 points to 19,774.80. Among the Sensex firms, Bajaj Finance, Power Grid, Bajaj Finserv, ICICI…

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Business

L&T Tech to invest in software defined vehicles, AI; Q2 net rises 5%

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L&T Tech to invest in software defined vehicles, AI; Q2 net rises 5%

L&T Technology Services (LTTS), an engineering services firm posted a net profit of ₹315 crore for the second quarter of FY24, a 5% growth over the corresponding quarter a year ago. It recorded revenue of ₹2,387 crore, up 5% Y-o-Y. During the quarter, LTTS won a seven deals worth more than $10 million across all…

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Business

Increase healthcare and disaster cover, Finance Ministry tells insurers

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Increase healthcare and disaster cover, Finance Ministry tells insurers

The Finance Ministry on Tuesday asked general insurance firms to increase cashless facilities for health insurance users and standardise treatment costs in tandem with the Union Ministry of Health to expand medical care covers in the country.  Devising a mechanism to cover Micro, Small and Medium Enterprises (MSMEs) also figured in parleys held by the…

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Business