NSE’s outgoing Managing Director and CEO Vikram Limaye on Saturday said he has done his best to lead the exchange in a very “difficult period” and to stabilize and strengthen the bourse. Limaye, whose five-year term ended on Saturday, did not seek another tenure at the National Stock Exchange (NSE) despite being eligible for it.However, the exchange did not announce who is taking over the helm of the NSE from Limaye. The end of Limaye’s five-year term as the NSE chief comes amid the NSE facing the regulatory probe in a case pertaining to governance lapses at the bourse as …
Will bulls take charge or will bears dominate Sensex, Nifty this week? 5 things to know before opening bell
Domestic headline indices continue to witness a battle between bulls and bears last week with headline indices closing with losses during the week. S&P BSE Sensex settles at 53,760 while the Nifty 50 index closed at 16,049 — both down more than 1% in the last five trading sessions. Entering the fresh week of trade, SGX Nifty was down up with gains, zooming more than 100 points to signal a gap-up start to the day’s trade. Global cues were also positive after Wall Street ended with gains on Friday. Global watch: On Friday, Dow Jones zoomed 2.15%, followed by S&P …
Wine producer Sula Vineyards files IPO papers with Sebi
Leading wine producer Sula Vineyards has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The public issue will be entirely an offer for sale (OFS) aggregating to 25,546,186 equity shares by the promoter, investors and other shareholders, according to the draft red herring prospectus (DRHP) filed with Securities and Exchange Board of India (Sebi). Sula Vineyards has been recognized as the market leader across wine variants, including red, white and sparkling wines. The company distributes wines under a bouquet of popular brands such as Sula, its flagship brand, besides other popular …
Rupee may depreciate further this week amid strong dollar, risk aversion in markets, consistent FII outflows
By Raj Deepak Singh Rupee depreciated in the last week reaching new record low amid strong dollar and risk aversion in the global markets. Further, rupee skid on persistent FII outflows and on fears that economies may tumble into recession. Furthermore, India’s CPI data showed inflation remained above 7% for a third consecutive month and stayed higher than RBI’s comfort zone. Dollar index rallied amid expectations that US Federal Reserve will hike rates faster than its peers to tackle soaring inflation. Further, dollar advances on risk aversion in the global markets and hawkish statement from a Fed official. Further, world …