Rupee began the week on a negative note, depreciating 17 paise to 95.59 against the US dollar in early trade, as investor sentiment turned cautious following the Reserve Bank of India‘s decision to bring forward the cut-off date for its concessional FCNR (B) deposit swap facility.The RBI had said on August 14 that the swap…
India’s telecom and network equipment sector could soon emerge as a major contributor to the country’s GDP, but it still has some connecting to do.The telecom and network equipment sector could play a bigger role in India’s economy, helping double its GDP contribution and achieve $1 trillion in exports by 2030 under the National Telecom…
The electronics manufacturer will start producing devices for Oppo, OnePlus and Realme next year. NEW DELHI: Amber Enterprises is making a big push into smartphone manufacturing. The electronics manufacturer will start producing devices for Oppo, OnePlus and Realme next year, targeting around 8 million units in its first year of operations.Trial production is expected to…
NEW DELHI: The combined market cap of five of the top-10 most valued firms eroded by Rs 1 lakh crore last week, with IT bellwether TCS taking the biggest hit, amid a bearish trend in domestic equities.Last week, BSE benchmark sensex declined 490 points, or 0.6%, and the NSE Nifty dipped 205 points, or 0.8%….
Rift between Tata Trusts chairman Noel Tata and Chandrasekaran. MUMBAI/NEW DELHI: The Tata brass briefed senior govt functionaries on the turmoil inside the conglomerate ahead of N Chandrasekaran‘s announcement last Wednesday that he would step down as Tata Sons chairman in Feb, people familiar with the matter said.The engagement covered the rift between Chandrasekaran and…
7 companies set to tap primary market next week The IPO market is heading into another packed week, with seven companies scheduled to come out with public issues between August 17 and 21, seeking to raise more than Rs 6,400 crore collectively.The line-up includes Horizon Industrial Parks, backed by Blackstone, jewellery retailer Lalithaa Jewellery Mart,…
FPIs turn buyers again, pump Rs 16,621 crore into Indian equities in August Foreign portfolio investors (FPIs) turned buyers of Indian equities once again in August, pouring in Rs 16,621 crore during the first fortnight of the month. The buying comes amid improving relative valuations, resilient corporate earnings and growing expectations of lower interest rates…
Govt fixes refinery-wise output targets, Reliance gets biggest quota India, for the first time, has set production targets for individual public and private-sector refineries and upstream companies as it looks to build a stronger domestic supply system after the Middle East chaos disrupted imports.In an order issued earlier this week, the petroleum and natural gas…
Gold and silver prices could continue their upward rally next week, but the momentum will depend on geopolitical and economic cues. Analysts expect bullion to remain firm as markets weigh the latest developments in the Middle East alongside inflation, trade and other global cues.Markets will keep an eye on US housing and trade data, inflation…
Geopolitical developments, crude oil major driving factors for market movement this week After snapping a two-week winning run, Indian equities are likely to remain sensitive to geopolitical developments, with the Strait of Hormuz, US-Iran standoff and crude oil prices expected to influence trading activity this week.According to analysts, with the quarterly earnings season now behind…