Category: Business

Business

Rupee settles flat at 84.07 against U.S. dollar for second straight session

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Rupee settles flat at 84.07 against U.S. dollar for second straight session

Photo used for representation purpose only. | Photo Credit: Reuters The rupee settled flat at 84.07 (provisional) against the US dollar for the second straight session on Tuesday (October 22, 2024), tracking negative domestic equity markets and unabated outflow of foreign funds. The local unit was also weighed down by elevated crude oil prices as…

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Business

Sensex, Nifty tumble over 1% on weak global cues, foreign fund exodus

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Sensex, Nifty tumble over 1% on weak global cues, foreign fund exodus

A view of the Bombay Stock Exchange in Mumbai. | Photo Credit: Reuters Equity benchmark indices Sensex and Nifty plunged more than 1% on Tuesday (October 22, 2024) due to across-the-board selloff amid massive foreign fund exodus from the capital markets and sluggish global equities. Besides, a weak earnings growth trend also dented market sentiment,…

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Business

RBI adds 13 firms to its alert list of unauthorised Forex trading platforms

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RBI adds 13 firms to its alert list of unauthorised Forex trading platforms

File image. | Photo Credit: Reuters The Reserve Bank of India (RBI) on Tuesday (October 22, 2024) added 13 entities/platforms/websites to the Alert List of unauthorised Forex trading platforms. These include: Ranger Capital https://www.rangercapital.net TDFX https://www.tdfx.exchange  Inefex https://www.inefex.com/international  YorkerFX https://yorkermarkets.com Growline https://grow-line.org  Think Markets https://www.thinkmarkets.com  Smart Prop Trader https://www.smartproptrader.com  FundedNext https://fundednext.com Weltrade https://www.weltrade.com  FreshForex https://freshforex.com  FX Road https://www.fxroad.com  DBG Markets https://www.dbgmarketsglobal.com  Plusonetrade https://www.plusonetrade.com Published – October 22, 2024…

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Business

India well positioned to capitalise on new growth opportunities: Nirmala Sitharaman

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India well positioned to capitalise on new growth opportunities: Nirmala Sitharaman

The global economic environment may present challenges but India is well positioned to capitalise on new growth opportunities, Finance Minister Nirmala Sitharaman has said, underlining that as nations re-evaluate their supply chains, India hopes to become a key partner for many countries seeking to diversify their sources of goods and services. Ms. Sitharaman made these…

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Business

Markets rebound in early trade amid buying in blue-chip stocks

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Markets rebound in early trade amid buying in blue-chip stocks

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,261.83 crore. File | Photo Credit: The Hindu Equity market benchmark indices rebounded in early trade on Tuesday (October 22, 2024) amid buying in blue-chip stocks and persistent fund inflows by domestic institutional investors. After falling in the previous trade, the BSE Sensex bounced back and climbed 239.33…

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Business

CK Birla Group to sell Orient Cement to Adani Group at ₹8100 crore equity value

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CK Birla Group to sell Orient Cement to Adani Group at ₹8100 crore equity value

Ambuja Cement | Photo Credit: Reuters The CK Birla Group on Tuesday (October 22, 2024) signed definitive agreements with Ambuja Cements, part of the Adani Group, to transfer its entire shareholding in Orient Cement Limited, valuing the company at an equity value of ₹8100 crore (USD 964 million) at an equity value of INR 395.4…

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Business

Rupee turns flat at 84.07 against U.S. dollar in early trade

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Rupee turns flat at 84.07 against U.S. dollar in early trade

Representative image | Photo Credit: Reuters The rupee stayed flat at 84.07 against the U.S. dollar in early trade on Tuesday (October 22, 2024) as positive sentiment in domestic equity markets was negated by the unabated outflow of foreign funds. The local unit resisted the fall on the back of the retreating dollar and a…

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Business

Hyundai Motor India debuts at BSE at a discount of 1.48%

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Hyundai Motor India debuts at BSE at a discount of 1.48%

Representative Image | Photo Credit: AP Automobile company Hyundai Motor India Ltd, the subsidiary of Hyundai Motor Corporation of Korea, was listed on the BSE on Tuesday (October 22, 2024) at a discount of 1.48% at ₹1931 from the issue price of ₹1960. The owners of the company had offered ₹14.22 crore shares via an…

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Business

Why has India been accused of hosting a shadow fleet? | Explained

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Why has India been accused of hosting a shadow fleet? | Explained

The crude oil tanker RN Polaris and a bulk carrier sail in Nakhodka Bay near the port city of Nakhodka, Russia in 2022. | Photo Credit: REUTERS The story so far: While covering the Russia-Ukraine conflict, many western media outlets have used the term ‘shadow fleet’ to describe tanker ships that carry Russian crude oil…

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Business

Atal tunnel builder Afcon Infrastructure to raise ₹5,430 crore via IPO on October 25

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Atal tunnel builder Afcon Infrastructure to raise ₹5,430 crore via IPO on October 25

Mr. Ramesh Kumar Jha, CFO, Mr. Paramasivan Srinivasan, MD, Mr. Subramanian Krishnamurthy, Executive Vice Chairman, Mr. Hitesh Kumar Singh, Head – Corporate Strategy Afcon Infrastructure Ltd., the company that built the Chenab rail bridge and the Atal tunnel, is set to open bids for an initial public offering of ₹5,430 crore on October 25, according…

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Business