The rupee appreciated 3 paise to 83.22 against the US dollar on Wednesday, tracking cues from positive equity markets and a weaker American currency against major rivals overseas. However, selling pressure from foreign equity investors weighed on the Indian currency, forex traders said. At the interbank foreign exchange, the rupee opened at 83.20 and then […]
Month: August 2023
HNIs want to invest in AIFs as debt funds lose long-term tax benefitsHNIs want to invest in AIFs as debt funds lose long-term tax benefits
By Aditya Kanoria Family offices and high net worth investors (HNIs) can now consider alternative investment funds (AIFs) as a realistic option due to the chance to diversify the risk-return mix across asset classes. In addition, investors are interested in portfolio diversification beyond common equities and debt classes to increase returns. AIF investments are driven […]
Spot USDINR makes second weekly gain in a row; all eyes on RBI monetary policySpot USDINR makes second weekly gain in a row; all eyes on RBI monetary policy
By Dilip Parmar The Indian rupee fell to its lowest level since February, amid a softer tone in regional FX impacting the currency backed by a prevailing risk-off sentiment globally and higher crude oil prices. All eyes will be on this week’s RBI monetary policy stance and inflation forecast as it will decide the future […]
M&M market valuation crosses Rs 2 lakh croreM&M market valuation crosses Rs 2 lakh crore
The market capitalisation of Mahindra and Mahindra Ltd crossed Rs 2 lakh crore mark, helped by a strong order book in the SUV segment and leadership position in tractor segment. M&M shares closed at Rs 1,636.85 on the BSE, giving the firm a market value of Rs 2.03 lakh crore, according to stock exchange data. […]
popkorn appoints Ranit Mukherjee and Pranabesh Sana as senior creative directorspopkorn appoints Ranit Mukherjee and Pranabesh Sana as senior creative directors
popkorn, the digital creative arm of V360 Group, has announced the appointment of Ranit Mukherjee and Pranabesh Sana as senior creative directors. With this, the agency has expanded its creative team. As per the agency, the aim is to offer creatively superior campaigns to its clientele. Sana brings over 19 years of expertise in shaping […]
IIT-BHU sexual assault case: Accused molested other students, regularly visited campusIIT-BHU sexual assault case: Accused molested other students, regularly visited campus
The three accused who have been arrested in the IIT-BHU sexual assault case have reportedly told police during questioning that they were involved in three other incidents of molestation on campus in Varanasi, Uttar Pradesh. During their interrogation, the accused told the police that they would frequently visit the premises, likely to look for “opportunities”, […]
Banks, financials trigger most correction from market highsBanks, financials trigger most correction from market highs
Recent sell-offs in the markets that have triggered a sharp correction in the benchmark indices have mostly taken place in the banking counter. The benchmarks recovered from their March lows and rallied to their fresh highs on July 20, but have since seen a sharp correction. While the 30-share Sensex has declined 3.21% since then, […]
Rupee’s downturn: A result of persistent global risk aversion or just a false alarm?Rupee’s downturn: A result of persistent global risk aversion or just a false alarm?
By Amit Pabari Amid the rise in global risk aversion, the Rupee experienced a wild swing from Rs 81.70 to Rs 82.70 within weeks’ time due to the increase. Well, sudden depreciation in the local currency would have kept markets wondering if it is temporary or not. Well before that, let’s understand what led to […]
Global Markets: Stocks pick up, oil steadies in cautious marketsGlobal Markets: Stocks pick up, oil steadies in cautious markets
Markets showed signs of a slight recovery in sentiment on Monday, as European stock indexes edged up and oil prices steadied, but traders were still cautiously watching for any signs of escalation in the Israel-Hamas war. Israel’s Prime Minister Benjamin Netanyahu vowed on Sunday to “demolish Hamas” as his troops prepared to move into the […]
RR Kabel IPO opens; GMP rises 21% should you subscribe to the issue?RR Kabel IPO opens; GMP rises 21% should you subscribe to the issue?
RR Kabel IPO: RR Kabel IPO opens for public subscription on Wednesday, September 13, and will close on Friday, September 15, 2023. The price band for its public issue at Rs 983-1035 per equity share of face value Rs 5 each. At the upper end of the price band, the company’s promoters and shareholders seek […]