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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” »
File. | Photo Credit: Reuters The country’s biggest bank SBI on August 4 posted over two-fold jump in standalone net profit at ₹16,884 crore for the first quarter of the current financial year, helped by decline in bad loans and improvement in interest income. State Bank of India (SBI) had reported a net profit of…
Read More “SBI Q1 profit jumps over two-fold to ₹16,884 crore” »
Representational image only. | Photo Credit: Reuters Equity benchmark indices rebounded in early trade on August 4 after three days of fall amid buying in IT counters and mixed global market trends. Bouncing back from a three-day decline, the 30-share BSE Sensex climbed 300.1 points to 65,540.78 in early trade. The NSE Nifty advanced 105.9…
Read More “Markets bounce back in early trade after three days of fall” »
Foreign currency traders work inside a trading firm behind the signs of various world currencies, in Mumbai. | Photo Credit: REUTERS The rupee witnessed a range-bound trading against the U.S. dollar in early trade on Friday, as the support from positive domestic equities was negated by firm crude oil prices. Forex traders said the rupee…
Read More “Rupee trades in narrow range against U.S. dollar” »
Farmers organize harvested tobacco leaves for curing alike a farm at N.G. Padu in Prakasam district. | Picture Credit score: SRINIVAS KOMMURI Farmers within the conventional tobacco rising area in south coastal Andhra Pradesh have pitched for the next quota right through the approaching Rabi season. The call for got here nearest top class leaves…
Benchmark Sensex tanked 542 points to settle at a four-week low while Nifty closed below the 19,400 mark, extending their losses for a third straight day on Thursday in tandem with a bearish trend in global markets following the U.S. rating downgrade. The 30-share BSE Sensex fell by 542.10 points or 0.82% to settle at…
MRF Ltd., standalone net profit for the June quarter rose more than fivefold to ₹581 crore over the year earlier period due to increase in sales volume and softening of input costs. Revenue from operations increased by 13% to ₹6,323 crore, material costs declined to ₹3,722 crore from ₹4,043 crore, the tyre major said in…
Read More “MRF Q1 net up fivefold to ₹581 cr. on increase in sales volume” »
Since 2017, the Indian government has been using the Employees Provident Fund (EPF) scheme’s data as a measure of payroll employment and formal job creation in the country. The monthly data released as part of this initiative has generally shown net increases in the number of contributors and this has been portrayed as evidence of…
Read More “Data | The contours of India’s ‘formal jobs’ crisis” »
“With this investment, Mahindra’s EV subsidiary’s valuation goes up by 15% from up to ₹70,070 crores to up to ₹80,580 crores. The breadth of global experience of these marquee investors will be valuable for MEAL,” M&M said in a statement. | Photo Credit: Special arrangement Mahindra & Mahindra Ltd. and global investment firm Temasek have…
Read More “Temasek to invest ₹1,200 crore in Mahindra’s passenger EV company MEAL” »
New regulations require import licences with immediate effect; will hit short-term availability of Dell, HP, Lenovo, Apple laptops; boost for domestic laptop assembly firms; unclear impact on ITeS sector Source link