Data from the National Securities Depository (NSDL) shows that in the first half of August, foreign portfolio investors (FPIs) sold shares worth $1.76 billion of financial services businesses, marking the largest outflow from the industry since January. With $2.24 billion in total sales, the financial services industry accounted for over 78% of all net outflows…
Manufacturer of steel tubes and pipes Hi-Tech Pipes received an order for ERW steel pipes worth Rs 105 crores from clients in the renewable energy industry. The company claims that within the next three months, its newly constructed, state-of-the-art facility in Sanand, Gujarat, with its enhanced technology, would help meet this demand. Solar power plants,…
During the week ending August 16, the Indian rupee saw little change, finishing at 83.95 with little variation. There was modest support for the rupee due to the US recession fears abating, carry trade unwinding slowing down, and oil prices easing. Pressure was applied, though, in part because of a larger trade imbalance in July…
The energy sector is expected to account for 35% of revenues for Tata Projects, the engineering, procurement, and construction (EPC) arm of the Tata Group, in the next two to three years, up from 25% at the moment. To this end, the company intends to expand internationally, boost business from group companies, and build its…
If Trent and Bharat Electronics (BEL) are included in the September review’s Nifty 50 index, they might draw inflows of approximately $900 million. The modifications will become effective on September 30 and will be made public on August 23. These two stocks will replace Divi’s Laboratories and LTIMindtree. The firm estimates that Trent might experience…
On Wednesday, the Supreme Court denied a request to modify its June 25 decision, upholding state governments’ legislative authority to impose taxes on mineral rights and mineral-bearing lands in addition to royalties with future effect. This authority also permits these levies to be collected from “mining firms and the Center” as of April 1, 2005….
2024 NSE index rise on Independence Day: Between July 14, 2024, and the previous Independence Day, the benchmark index NSE Nifty 50 increased by more than 24%. In a similar vein, the S&P-compiled BSE Sensex yielded a 21% return throughout that time frame. The Nifty, which consists of the 50 largest firms in terms of…
The provisional data released by the Ministry of Commerce & Industry on Wednesday showed that the increase in prices of food articles, food product manufacturing, mineral oils, crude petroleum & natural gas, other manufacturing, etc. was the main cause of India’s wholesale price index (WPI)-based inflation for July, which eased to 2.04% on an annual…
Four initial public offers (IPOs) totaling more than Rs 11,850 crore were completed in the first week of August, demonstrating that the volatility in global equities hasn’t dulled the shine on the primary market. This pattern will probably continue as 25 companies that have received approval from the Securities and Exchange Board of India (Sebi)…
As food prices decreased in July, India’s retail inflation rate fell to 3.54%, nearly five years below its previous peak, according to government statistics released on Monday. This reduction comes after an inflation rate of 5.08% in June, which was the lowest since August 2019. The Reserve Bank of India’s 4% goal inflation rate was…
