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Shares of Reliance Power Ltd fell by 5% on Friday (November 8, 2024) as the company and Reliance NU BESS Ltd have been debarred from participating in Solar Energy Corporation of India Ltd (SECI) tenders for three years for allegedly submitting “fake documents”. The stock tanked 4.99% to ₹41.47, its lower circuit limit, on the…
Read More “Reliance Power shares drop 5%; hit lower circuit limit” »
The BSE benchmark Sensex fell by 424.42 points to 79,117.37 in early trade. The NSE Nifty declined 132.7 points to 24,066.65. File | Photo Credit: Reuters The Sensex and Nifty fell in early trade on Friday (November 8, 2024) amid continuous foreign fund outflows and weak trends in blue-chip stocks Reliance Industries and ICICI Bank….
Read More “Sensex, Nifty fall in early trade amid foreign fund exodus” »
An employee counts U.S. dollar bills at a foreign exchange counter inside a bank in New Delhi. File photo | Photo Credit: REUTERS The rupee fell 5 paise to an all-time low of 84.37 against the US dollar in early trade on Friday (November 8, 2024), weighed down by persistent foreign fund outflows and a…
Read More “Rupee falls 5 paise to all-time low of 84.37 against US dollar in early trade” »
Tough ties: U.S. had imposed tariffs on more than $360 billion of Chinese products during Trump’s previous term in office. File picture of U.S. President Donald Trump attending a bilateral meeting with China’s President Xi Jinping during the G20 leaders summit in Osaka, Japan, in 2019. | Photo Credit: Reuters The first time China faced Donald…
Read More “China braces for tensions after Trump victory in U.S.” »
Image for representative purposes only | Photo Credit: Reuters The rupee declined 6 paise to close at a fresh lifetime low of 84.37 (provisional) against the U.S. dollar on Thursday (November 7, 2024), as weak domestic equities and sustained foreign fund outflows dented market sentiment. Forex traders said investors were also cautious ahead of the…
Read More “Rupee falls 6 paise to fresh all-time low of 84.37 against US dollar” »
From the 30-share Sensex pack, Tata Motors, Tech Mahindra, UltraTech Cement, JSW Steel, Sun Pharma, Asian Paints, IndusInd Bank and ICICI Bank were the major losers. File Benchmark Sensex and Nifty tumbled more than 1% on Thursday (November 7, 2024) after a two-day rally as investors remained on the sidelines ahead of the U.S. Federal…
Elon Musk. File | Photo Credit: Reuters In a boost to Elon Musk’s Starlink, Communications Minister Jyotiraditya Scindia has said the spectrum for satellite broadband will be allocated and not auctioned as sought by billionaires Mukesh Ambani and Sunil Mittal. However, the satellite broadband spectrum will be not given free, and sector regulator Telecom Regulatory…
Read More “In a win for Elon Musk, Scindia says no to spectrum auction pitch from Ambani, Mittal” »
Trent Ltd.’s “Westside” third store at Garuda shopping Mall in Bangalore. | Photo Credit: Murali Kumar K Trent Ltd, a Tata Enterprise for the second quarter ended September 30, 2024, reported a consolidated net profit of ₹338.75 crore as compared with ₹234.73 crore in the year ago period, up 44%. The company’s consolidated revenue from…
Read More “Trent Ltd Q2 net profit surges 44% to ₹339 crore” »
File photo used for representative purpose only | Photo Credit: Reuters The Enforcement Directorate on Thursday (November 7, 2024) conducted searches against some sellers who do business on e-commerce giants like Amazon, Flipkart as part of a Foreign Exchange Management Act (FEMA) investigation, official sources said. Multiple locations in Delhi, Gurugram (Haryana), Hyderabad (Telangana) and…
Read More “ED raids offices of sellers using Amazon, Flipkart platforms in FEMA probe” »
Progcap, a fintech company which is into supply chain financing and catering to Micro, small and medium enterprises (MSMEs) has announced plans to digitise entire supply chains, developing user-friendly mobile apps and other technology solutions to help small businesses manage their transactions, check credit limits, and request disbursements on the go. “We are building a comprehensive ecosystem…
Read More “Fintech Progcap to digitise supply chains of MSMEs to make them part of formal economy” »