Category: Business

Business

Markets trade lower in first session of 2025 on unabated foreign fund outflows

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Markets trade lower in first session of 2025 on unabated foreign fund outflows

Image for representative purposes only | Photo Credit: Reuters Benchmark indices Sensex and Nifty traded lower in early trade on Wednesday (January 1, 2025), the first session of 2025, as unabated foreign fund outflows continued to dent investor sentiments. Investors also remained cautious ahead of the start of earnings season next week. The 30-share BSE…

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Business

Indo Farm Equipment IPO gets subscribed 17.70 times on opening day of bidding

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Indo Farm Equipment IPO gets subscribed 17.70 times on opening day of bidding

The initial public offer of Indo Farm Equipment Ltd. was subscribed 17.70 times on the opening day of bidding on Tuesday (December 31, 2024) amid strong investors participation. The initial share sale received bids for 14,99,60,184 shares against 84,70,000 shares on offer, translating into 17.70 times subscription, as per NSE data. The category for non-institutional…

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Business

Anthem Biosciences files draft papers with Sebi for ₹3,395-crore IPO

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Anthem Biosciences files draft papers with Sebi for ₹3,395-crore IPO

Anthem Biosciences on Tuesday (December 31, 2024) filed preliminary papers with capital markets regulator Sebi to float a ₹3,395-crore initial public offering. The proposed initial public offer (IPO) is entirely an offer for sale (OFS) worth ₹3,395 crore by promoters, investors and other selling shareholders, according to a Draft Red Herring Prospectus (DRHP). Under the…

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Business

Core sectors’ output grew at four-month high pace of 4.3% in November

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Core sectors’ output grew at four-month high pace of 4.3% in November

Photo used for representation purpose only. | Photo Credit: The Hindu Output in India’s eight core infrastructure sectors that constitute about 40% of overall industrial production, grew at a four-month high pace of 4.3% in November, led by a 13% surge in cement, marking the sharpest rise in the key construction input’s production in well…

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Business

Sensex declines 109 points in final session, ends 2024 with over 8% gains

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Sensex declines 109 points in final session, ends 2024 with over 8% gains

A bird flies past a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai. | Photo Credit: REUTERS Benchmark indices Sensex and Nifty ended lower in the final session of 2024 on Tuesday (December 31, 2024) amid persistent foreign fund outflows and weak trends in the global…

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Business

Rupee falls 13 paise to all-time closing low of 85.65 against U.S. dollar

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Rupee falls 13 paise to all-time closing low of 85.65 against U.S. dollar

Image used for representational purposes. File | Photo: C. Venkatachalapathy/The Hindu The rupee depreciated 13 paise to close at a fresh record low of 85.65 (provisional) against the U.S. dollar on Tuesday (December 31, 2024), ending the year with a sharp 3% loss on significant foreign fund outflows and a strong greenback in global markets….

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Business

Rupee falls 9 paise to 85.61 against U.S. dollar in early trade

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Rupee falls 9 paise to 85.61 against U.S. dollar in early trade

Image for representative purposes only | Photo Credit: Reuters The rupee dropped 9 paise to 85.61 against the U.S. dollar in early trade on Tuesday (December 31, 2024), weighed down by significant strengthening of the American currency in the overseas market and a muted trend in domestic equities. Forex traders said the rupee has been…

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Business

Sensex, Nifty decline in initial trade dragged by foreign fund outflows

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Sensex, Nifty decline in initial trade dragged by foreign fund outflows

An employee of a stock trading firm looking at a share price on his computer in Mumbai. File photo | Photo Credit: The Hindu Benchmark indices Sensex and Nifty declined in early trade on Tuesday (December 31, 2024) amid persistent foreign fund outflows, and weak trends in the global markets. Selling in IT stocks also…

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Business

India got 14.3% of global remittances in 2024, its highest ever

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India got 14.3% of global remittances in 2024, its highest ever

For many low-and middle-income countries, remittances act as a major source of income.  In 2024, India received an estimated $129.1 billion worth of remittances, the highest ever for a country in any year. Moreover, India’s share in global remittances was 14.3% this year, the highest such share since the turn of the millennium for any…

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Business

RBI clears name of Rajat Verma as DBS Bank India CEO

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RBI clears name of Rajat Verma as DBS Bank India CEO

Rajat Verma has a 27-year track record across consumer and corporate banking including transactional banking, financial institutions, sustainable finance, micro and SME banking, as well as branch banking. File The Reserve Bank of India has approved the proposal to appoint Rajat Verma as the new CEO of DBS Bank India. Mr. Verma, currently Head of…

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Business