With a strong loss of nearly 1.00% in May, the Indian Rupee underwent severe weakening and came under pressure. It’s interesting that this reduction took place despite the mind-blowing $5 billion in inflows. This begs the question of whether the INR could be impacted by the present downturn in Asian currencies. Let’s look at the…
On Friday, Indian shares fell for the second consecutive day as a result of persistent profit-taking and a general decrease after the Reserve Bank of India hinted that tighter monetary conditions would linger. The benchmark S&P BSE Sensex dropped 0.35% to 62,625.6 while the blue-chip Nifty 50 closed 0.38% lower at 18,563.40. The benchmarks maintained…
On Friday, the State Bank of India announced that during the current fiscal year, it plans to raise up to Rs 50,000 crore through loan instruments from both domestic and international markets. The bank’s central board made this decision, according to a filing with the stock exchange by the biggest lender in the nation. The…
A contract to put up a 966 MW round-the-clock hybrid renewable power project for Tata Steel was awarded to Tata Power Renewable Energy through its subsidiary TP Vardhaman Surya Ltd. According to a corporate statement, the project has a hybrid renewable capacity of 379 MW solar and 587 MW wind power. One of the most…
Before today’s scheduled bimonthly policy review of the Reserve Bank of India, the rupee opened slightly weaker against the US dollar. At the start, the dollar was trading at 82.59. The domestic currency increased 0.04 percent to 82.58 per dollar in the morning session from its previous close of 82.55 per dollar. The euro opened…
The largest non-bank lender, IIFL Finance, is using the debt market to raise up to Rs 1,500 crore by selling NCDs, promising investors returns of up to 9%. The Prem Watsa-led Fairfax Holding-backed company said in a statement on Tuesday that the debt raising through a public issue will begin on June 9 and that…
After Epam Systems again decreased its revenue forecast for CY2023, information technology stocks declined on Tuesday. Shares of Infosys decreased 1.8% while the NSE IT Index lost 1.88%. The yield on TCS shares was 1.6%. EPAM has revised its forecast for revenue growth and now projects a 2% drop in constant currency revenues at the…
In spite of a sluggish trend in domestic stocks, the rupee steadied in a small range on Tuesday to conclude the day barely 1 paisa higher at 82.62 (provisional). In anticipation of the RBI’s monetary policy announcement later this week, market participants are alert and the rupee is trading in a limited range. There is…
Suzlon Group, a producer of renewable energy solutions, declared on Monday that it has reached the landmark of 20 GW of installed wind turbine capacity worldwide.”Suzlon Group has crossed the 20GW wind energy installations milestone through 12,467 wind turbines installed across 17 countries, spanning six continents,” according to a statement from the firm. This solidified…
The majority of Asian currencies fell versus the US dollar in May due to tighter supply and haven bidding, which was a bad month for their value. Although the US government was able to suspend the debt ceiling before the anticipated June 5 X date, June got off to a somewhat better start. A fiscal…
