MUMBAI: Reserve Bank of India has opened the dollar tap by taking on the currency risk itself to draw in overseas money, while nudging state-owned borrowers to look abroad for cheaper funds.RBI will not charge any premium for swapping dollars raised through foreign currency non-resident bank FCNR(B) deposits, effectively absorbing the entire forex risk and…
“Indian equity markets are expected to open on a sharply negative note, with Gift Nifty trading at 23,134, down by 306 points, as Asian equities opened weak amid escalating geopolitical tensions and weakness in US technology stocks, weighing on overall risk sentiment. In the previous session, the Nifty 50 ended a range-bound session with a…
SpaceX is set to enter Wall Street, with an IPO valued at a whopping $1.75 trillion! The long-awaited listing has kicked off a rush among retail investors all chasing a slice of its rockets, satellites and AI empire, turning it into one of the most talked-about market moments in recent times. Demand is already so…
India’s merchandise exports recorded around 15% growth during April-May of the current financial year despite continuing global economic uncertainties, a senior government official said on Monday as reported PTI.The commerce ministry is scheduled to release the country’s trade data for May on June 15.“During the two months, exports are up by 15 per cent,” the…
SpaceX is preparing for a stock market debut that could become the largest initial public offering in history. The Elon Musk-led company is seeking to raise about $75 billion at a valuation of roughly $1.75 trillion, a figure that would place it among the most valuable publicly traded companies in the world from day one.The…
Wall Street recovered some ground on Monday as technology and semiconductor stocks linked to the artificial intelligence (AI) boom bounced back from Friday’s sharp sell-off while oil prices eased from overnight peaks despite continued tensions between Israel and Iran.The S&P 500 rose 0.7% after suffering its worst daily decline since October on Friday. The Dow…
The rupee surrendered most of its previous session’s gains and fell 43 paise to close at 95.61 against the US dollar on Monday weighed down by a sharp rise in crude oil prices and a stronger greenback amid escalating geopolitical tensions in the Middle East, PTI reported.Forex traders said risk aversion in global markets, higher…
The government will divest up to a 3% stake in state-owned NLC India Ltd through an offer for sale (OFS), with the floor price set at Rs 303 per share, nearly 10% below the stock’s closing price on Monday.The OFS for non-retail investors will open on Tuesday, while retail investors can bid on June 10,…
Hyderabad: Sigma Advanced Systems on Monday said it has bagged an export contract worth US$21.97 million (nearly Rs 208 crore) to manufacture and supply 40,000 units of 155 mm M107 artillery shell bodies for a customer in North America.The Hyderabad-based company said the order has to be executed over a period of six months, with…
India has outlined key demands in its ongoing trade negotiations with the United States, including preferential tariff treatment and assurances against future tariff hikes, as both countries work towards finalising an interim trade agreement, a trade official said on Monday.A proposed bilateral trade agreement between India and the United States may only be finalised after…