Year

2023

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上海龙凤419

Rupee falls to hit 80 mark briefly, may depreciate further on strong US dollar, pessimistic market sentiments

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The Indian rupee is likely to depreciate further on Friday amid strong dollar and pessimistic global market sentiments. Additionally, consistent FII outflows and concerns on looming recession may hurt the local unit. “Further, investors are expected to remain vigilant ahead of crucial economic data from the US and statements from Fed officials. US$INR (July) is expected to trade in a range of 79.60-80.20,” said ICICIDirect. In the previous session, rupee briefly touched Rs 80 mark intraday on the offshore non-deliverable forward (NDF) market. The domestic currency settled at a new record low of 79.90, down 18 paise from the previous …

上海龙凤419

Global Markets: European shares fall as rate hike bets keep investors cautious

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European shares fell on Thursday and the safe-haven dollar rose after the latest red-hot U.S. inflation reading increased investor fears about Federal Reserve rate hikes and a possible recession. Wednesday’s data showed U.S. consumer prices jumped 9.1% year-on-year in June, up from May’s 8.6% rise.The data was seen as firming the case for the Federal Reserve to raise rates aggressively. Policymakers might consider a 100 basis point increase at the July meeting, Atlanta Federal Reserve Bank President Raphael Bostic said. By 1106 GMT, Europe’s STOXX 600 index was down 1% at an 8-day low. London’s FTSE 100 was down 0.9%.The …

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NSDC partners with upGrad to offer skill development courses

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The National Skill Development Corporation (NSDC) and upGrad have inked a Memorandum of Understanding (MoU) to provide quality higher education and skill development programmes to the youth of India, with the goal of elevating the country’s skill levels, according to an official release. This partnership is poised to revolutionise the educational landscape, promoting the enhancement of skills. Furthermore, it aims to extend educational opportunities to a wider range of individuals in non-metropolitan regions and regional areas, motivating them to pursue international study programmes and ultimately positioning India as a hub of talent on the global stage, the release mentioned. Under …

阿拉爱上海

NSE appoints Ashish Chauhan as its new MD & CEO

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By Ashley Coutinho The National Stock Exchange (NSE) on Sunday announced the appointment of Ashish Kumar Chauhan as its new managing director and CEO.NSE said Chauhan’s appointment is subject to acceptance of the offer made to him and fulfilment of the terms and conditions, including approval from the NSE shareholders. Limaye had declined to seek a second term at the exchange despite being eligible. Chauhan, who was part of the NSE’s founding team, will take over the bourse’s top job after his second five-year term as MD and CEO of BSE ends in November, or earlier if he resigns from …

夜上海论坛

Sensex gives up intraday gains to end in red, Nifty support in 15800-15900 range

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After having opened with gains on Thursday morning, Dalal Street was revisited by the bears, forcing the indices to close in the red. S&P BSE Sensex shed 98 points or 0.18% to settle at 53,416 while the NSE Nifty 50 index dropped 28 points or 0.18% to end the day at 15,938. Bank Nifty closed 0.51% lower and broader markets followed. Sun Pharma was the top gainer on Sensex, up 2.55%, followed by Dr Reddy’s, and Kotak Mahindra Bank. Axis Bank was the worst performing Sensex constituent, accompanied by HCL Tech and State Bank of India. India VIX was in …

上海419论坛

Share Market Highlights: Sensex closes 344 pts higher at 53760, Nifty regains 16049; HUL, Maruti top gainers

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Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic headline indices opened with gains on Friday but traded volatile during the day as bulls and bears engaged in a tug of war. At close, S&P BSE Sensex was up 344 points or 0.65% at 53,760 while NSE Nifty 50 ended at 16,049, up 0.69%. Bank Nifty ended 0.09% higher while India VIX fell 4% to settle at 17.6%. Hindustan Unilever was the top gaining stock on Sensex, up 2.86%, followed by Titan and Maruti Suzuki India. Tata Steel, Power Grid, and HCL Tech were the laggards. Live Updates …

夜上海论坛

Stock exchanges, persons dealing in securities market to pay 18 per cent GST on Sebi’s fee

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Market infrastructure institutions, including stock exchanges, and persons dealing in the securities market will need to pay a GST of 18 per cent on the fees charged by the regulator Sebi. The new tax rate will be effective from Monday, the Securities and Exchange Board of India (Sebi) said in a circular. This comes after the GST Council last month recommended to withdraw the exemption granted to services by Sebi and the same was notified on July 13. Stock exchanges, clearing corporations and depositories come under market infrastructure institutions.

夜上海论坛

Paddy acreage down 17 per cent so far in kharif season: Official data

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The area under coverage for paddy is down 17.4 per cent so far in the ongoing kharif sowing season while acreage of pulses, coarse cereals and oilseeds are higher by 7-9 per cent. As per the Ministry of Agriculture data till July 15, the paddy sowing has reached 128.50 Lakh Hectares (LH) so far this kharif season as against 155.53 LH in the corresponding period of the previous year. However, the area under coverage for pulses has increased by 9 per cent to 72.66 LH from 66.69 LH during the period under review. The sowing area of coarse cereals is …

夜上海论坛

Mindtree rating: Neutral | Margins bucked sectoral trend

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MTCL’s Q1FY23 performance beat consensus estimates at both revenue and margin levels. Revenue at $399 mn was up 5.5% q-o-q in cc terms (vs. consensus expectation of 4.8% q-o-q growth) and EBIT margin at 19.2% was up 30bps (vs. consensus expectation of 18.8%). EPS at Rs 28.57 was up 37% y-o-y. Revenue performance was strong considering weakness in the retail verticalMTCL’s growth was across all verticals except for retail which recorded -8.9% q-o-q decline (in USD terms) due to two client-specific issues. The total contract value (TCV) of deal wins at $570 mn was up 13% y-o-y in Q1FY23 with …

夜上海论坛

Surat’s weavers battle soaring import bills

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By Nayan Dave With prices of premium quality man-made fibre sky-rocketing to Rs 200 per kg in a span of just six months inflating import bills by Rs 8 crore a day, thousands of weaving units in India’s man-made fabric capital, Surat, are facing a working capital crisis “Prices of premium quality viscose denier yarn were range bound between 350 to 380 per kg six months ago but at present are hovering around 580 to 600 per kg which has increased the requirement of extra working capital for most of the MSME weaving units in Surat,” says Vikas Koradia, owner …

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