The Indian rupee turned weaker against the US dollar on Friday tumbling as much as 31 paise as the benchmark BSE Sensex index slipped 286 points today.
Despite government restricting the release of sugar in the market by the sugar mills and imposing import duty, sugar industry is still not out of the tough times.
HDFC Securities is bullish on the shares of Max Financial Services, after the company reported strong Q3 results. Last week, the company reported a 10.3 percent jump in its Q3 net profit at Rs 88.8 crore against Rs 80.5 crore in the same period fiscal.
India’s biggest banking fraud in country’s second largest PSU bank Punjab National Bank has now engulfed nation’s largest lender State Bank of India. State Bank of India has also been captured by the massive banking scam involving “fraudulent and unauthorised” LOUs between PNB and alleged diamond merchant Nirav Modi.
The National Stock Exchange (NSE) of India is keen on purchasing 25% stake in Bangladesh’s Dhaka Stock Exchange (DSE) as the bourse thinks that it is “well-positioned” to help grow the Bangladesh market.
Bitcoin was trading at $9,908.34 in India today on CoinDesks’s Bitcoin Price Index (BPI) at the time of reporting. Earlier in the day, Bitcoin price was recorded at a high of $10,277.99. On Thursday, the digital currency crossed $9,000 – a psychologically key level for the virtual currency.
Markets regulator Sebi has launched a probe into trading and disclosure related issues in the matter of Punjab National Bank and Gitanjali Gems in connection with over Rs 11,000 crore banking fraud allegedly perpetrated by absconding Nirav Modi.
After India Inc reported earnings that were in line or better than analyst expectations, top market voices point out that the impact of structural reforms such as demonetisation and GST are now behind. We take a look at what analysts are betting on going forward.
Indian stock markets retreated in the afternoon trades with Sensex plummeting nearly 350 points and Nifty slipping below 10,500 as shares of heavyweight companies such as ICICI Bank, HDFC, SBI and RIL cracked.
The petrol and diesel prices have been cut almost daily in last ten days on the back of falling crude oil price after it topped $71 a barrel last month. Check out prices in four metro cities.
India’s biggest stock exchange is keen to buy a 25 percent stake in Dhaka Stock Exchange, rivaling an offer from a Chinese bourse.
The Karnataka government, which presented its last Budget before the high-octane state election on Monday, has announced hiking excise duty on liquor by 8%.
With the stock markets turning choppy and top market voices cautioning that the markets will continue to remain volatile in the current year 2018, the investors may be looking at investing in mutual funds. We take a look at two Gold rated flexi-cap mutual funds from Morningstar.
Bitcoin rose above $10,000 on Thursday for the first time in more than two weeks, as investors bought back the digital currency after having fallen 70 percent from its all-time peak hit in mid-December.
PNB share price today hit a fresh 52-week low as India’s biggest banking fraud unwinded at nation’s second largest PSU bank. PNB share price hammered down massively in the last 2 days of the trades. In the history of past two days, PNB share price has plunged about 23.66%.
The Indian rupee had gained power against the US dollar in the last four days rallying as much as 58 paise in the foreign exchange market.
Shares of Gitanjali Gems tumbled 20% and got locked in the lower circuit for the second consecutive day as the jewellery maker is under watch by the Enforcement Directorate and CBI on the alleged involvement in PNB’s Rs 11,400 crore fraud.
Oil prices edged higher on Friday as the dollar stood near a three-year low in subdued Asian trade, with many markets closed for the Lunar New Year holiday.
Indian stock markets opened higher on Thursday with Sensex rising over 200 points and Nifty breaching the 10,600-mark following the positive global cues after major US indices extended gains in yesterday’s trades. Shares of Punjab National Bank declined further on Friday after a two-day slide due to Rs 11,400 crore fraud.
The dollar slipped to a three-year low against a basket of currencies on Friday, headed for its biggest weekly loss in two years, as bearish factors offset support the U.S. currency could take from rising Treasury yields.
Indian stock markets are likely to open higher on Friday following the continuous upmove in the Wall Street’s major indices.
Global index provider MSCI Inc on Thursday “strongly suggested” that India’s three main stock exchanges reconsider their anti-competitive measures that restrict the accessibility of the Indian equity market to foreign exchanges.
In the past 9 days, petrol and diesel prices have been cut almost every day on the back of benchmark Brent crude oil price which fell dramatically in last one month after touching a high of $71 per barrel.
Rating agency Crisil has launched 11 new debt indices and also announced a change in nomenclature of an existing
index in line with the new norms issued by the Securities and Exchange Board of India (SEBI) for classification
of mutual funds (MFs).
A fine of Rs 50 lakh was imposed on S Kumar Nationwide’s nine promoter entities by Sebi on Thursday. The penalty was imposed by the capital market regulator on the textile firm for disclosure lapses.
PNB shares crumbled 14% to hit a 52-week low after bank’s management detailed about the ongoing fraud in the state-run lender which is estimated to be Rs 11,400 crore. PNB had lost about Rs 8,000 crore in market capitalisation in last two days.
The popular cryptocurrency Bitcoin was trading at $9,610.39 in India today on CoinDesks’s Bitcoin Price Index (BPI) at the time of reporting. Bitcoin climbed nearly 10 percent, the highest level reached since February 4.