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The rupee pared initial gains to settle 2 paise lower at 83.03 (provisional) against the U.S. dollar on Thursday, weighed down by a surge in crude oil prices and strong American currency overseas. However, a positive trend in domestic markets cushioned the downside for the local unit, forex traders said. At the interbank foreign exchange…
Read More “Rupee falls 2 paise to close at 83.03 against U.S. dollar” »
Life Insurance Corporation of India (LIC) eastern zonal head office building in Kolkata. File | Photo Credit: REUTERS LIC on Thursday said it has sold 2% of its holding in Sun Pharma for ₹4,699 crore via open market sale. Following the share sale, there is a decrease of 2% in holding during the period from…
Read More “LIC sells over 2% stake in Sun Pharma for ₹4,699 crore” »
New Delhi: Fitch Ratings on Thursday retained India’s growth forecast for the current fiscal at 6.3 per cent saying the Indian economy continues to show resilience despite tighter monetary policy and weakness in exports, but upped year-end inflation projection on El Nino threat. The Indian economy grew 7.8 per cent in the April-June quarter of…
Read More “Fitch Retains India’s Growth Forecast For Current Fiscal At 6.3 Per Cent” »
Inflation in food articles remained in double digit at 10.60% in August, lower than 14.25% in July. File | Photo Credit: Mohammed Yousuf India’s wholesale prices remained in deflationary mode for the fifth month in a row in August but the decline in prices eased to -0.52% from -1.36% in July, even as inflation in…
Read More “Wholesale inflation remains in negative for fifth month at -0.52% in August” »
Senior Congress leader Jairam Ramesh. File | Photo Credit: The Hindu The Congress on September 14 alleged that the “Adani scam” has exposed the role tax havens play in hiding large-scale violation of Indian laws and said the issue should have been discussed at the recent G20 Summit. It also said that if a Joint…
Adani Group already is the largest renewable energy producer and for green hydrogen project New Delhi: Adani Group on Thursday said it has formed a 50:50 joint venture with Japanese conglomerate Kowa Group for sale of green hydrogen in Japan, Taiwan and Hawaii markets. Billionaire Gautam Adani-led conglomerate is investing up to USD 50 billion…
Inflation in food articles remained in double digit at 10.60 per cent in August. New Delhi: Wholesale price-based inflation remained in the negative territory for the fifth straight month in August at (-)0.52 per cent, but prices of food articles and fuel showed an uptick. The wholesale price index (WPI) based inflation rate has been…
Read More “Wholesale Inflation Stays In Negative For Fifth Month At -0.52% In August” »
Equity benchmark indices Sensex and Nifty hit their record peaks in early trade on Thursday | Photo Credit: The Hindu Equity benchmark indices Sensex and Nifty hit their record peaks in early trade on Thursday in continuation of their ongoing rally, amid a largely firm trend in Asian markets along with buying in IT and…
Representational image | Photo Credit: Reuters The rupee appreciated 8 paise to 82.93 against the U.S. dollar in early trade on Thursday tracking positive domestic equities. Forex traders said the rupee is witnessing a range-bound trading against the dollar as the support from positive domestic equities was negated by elevated crude oil prices and a…
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Mumbai: India’s blue-chips Nifty 50 and Sensex opened higher and hit fresh all-time highs on Thursday, as sentiment improved after U.S. inflation data cemented the likelihood of a pause in the rate hike cycle by the Federal Reserve. The Nifty 50 was up 0.29% to a new all-time high of 20,127.95 by 9:15 a.m. IST,…