The rupee depreciated 6 paise to 81.77 against the US dollar in early trade on Monday, tracking a lacklustre trend in domestic equity markets and a firm American currency overseas. However, lower crude prices in the international market and fresh foreign fund inflows restricted the rupee’s fall, forex dealers said. At the interbank foreign exchange, [...]
Pharmaceutical exports from India registered a growth of 4.22 per cent to reach USD 14.57 billion during the April-October period despite a negative trend last month, according to a senior official of an export promotion body under Government of India. Udaya Bhaskar, Director General of Pharmaceuticals Export Promotion Council of India (Pharmexcil) which is an [...]
A roadmap to reduce taxes on automobiles by half over a 10-year period to make the Indian auto industry more competitive globally and provide large scale employment to benefit the economy needs consideration, according to Toyota Kirloskar Motor Vice Chairman Vikram Kirloskar. Although at the moment India cannot afford to slash the tax rate on [...]
Nine of the top 10 valued firms together added Rs 79,798.3 crore in market valuation last week, with IT majors Tata Consultancy Services (TCS) and Infosys emerging as the biggest winners. In the last week, the 30-share BSE Sensex climbed 630.16 points or 1 per cent. The barometer settled at 62,293.64, its fresh record closing [...]
Trading activity in the equity market this week will depend on macroeconomic data announcements, monthly auto sales numbers and global trends, analysts said. Bulls dominated Dalal Street last week, supported by favourable triggers like buying by Foreign Institutional Investors (FII) and a drop in crude prices. Last week, the 30-share BSE benchmark Sensex rallied 630.16 [...]
The Tata Electronics Private Limited (TEPL) has committed to recruit 80 per cent of its workforce for its mobile components-manufacturing unit at Denkanikottai in Krishnagiri district of Tamil Nadu, State Industries Minister Thangam Thennarasu said on Friday. Also, the government would ensure that other industrial units in Tamil Nadu give preference to employ those from [...]
As per the data released by the Ministry of Statistics and Programme Implementation (MOSPI) dated 14th November 2022, Delhi has the lowest inflation rate for October'22. According to the data, the Inflation rate in Telangana is 8.82%, Andhra Pradesh is 7.93%, Haryana is 7.79%, Madhya Pradesh is 7.49% and West Bengal is 7.71% in October [...]
To encourage retail investors to invest in yellow metal through mutual fund route, industry body Amfi has asked the government for preferential tax treatment for Gold ETFs and Fund of Funds ahead of the Union Budget. In its budget proposals for 2023-24 to the finance ministry, Amfi has proposed that Gold ETFs and Fund of [...]
The CBI on Friday filed its first charge sheet in the Delhi excise policy scam case against arrested businessmen Vijay Nair and Abhishek Boinpally and five more accused, keeping the probe open into the alleged role of others named in the FIR including Deputy Chief Minister Manish Sisodia, officials said. Besides Nair and Boinpally, those [...]
The rupee settled for the day 8 paise higher at 81.62 (provisional) against the American currency on Friday on broad dollar weakness and improved risk sentiments. Forex traders said positive domestic equities and foreign fund inflows supported the local unit. At the interbank foreign exchange market, the local unit opened at 81.69 and touched an [...]
