As the U.S. dollar surged due to the early results of the presidential election, the Indian rupee fell to its lowest level ever on Wednesday, forcing the central bank to step in. The rupee dropped almost 0.1% from Tuesday’s closing to 84.1950 versus the US dollar. However, other Asian currencies did far worse, falling 1%…
With a floor price of Rs 505 per share, the Center will sell up to a 2.5 percent stake in Hindustan Zinc on Wednesday through Thursday. The government may be able to disinvest Rs 5,900 crore from the transaction. Compared to the stock’s closing price of Rs 559.45 on the BSE on Tuesday, the floor…
The domestic textile sector in India is anticipated to increase by 6–8% this fiscal year after rebounding by 9–10% in the previous fiscal year, according to CRISIL Ratings research. The development in the home market and strong demand from the US, the main export destination, will fuel the boom, it stated, despite some persistent logistical…
Following many orders worth Rs 560 crore being obtained by its subsidiaries, Premier Energies surged 7.8% to an intraday high of Rs 1,160. Premier Energies International and Premier Energies Photovoltaic, the company’s wholly-owned subsidiaries, were awarded numerous orders by two sizable independent power producers. The subsidiaries of Premier Energies Limited, Premier Energies International Private Ltd.,…
Following an eight-month low of 56.5 in September, India’s manufacturing activity rebounded to 57.5 in October, demonstrating a significant and quicker improvement in operating conditions, according to data provided by S&P Global on Monday. It claimed that October saw an acceleration of output growth driven by quicker growth in both foreign sales and total new…
October 2024 was the worst month for outflows on record, with foreign investors wiping out an astounding Rs 94,000 crore (about $11.2 billion) from the Indian stock market. The high values of domestic stocks and the allure of attractive valuations in the Chinese stock market drove this abrupt withdrawal. The new outflow surpasses the Rs…
The Securities and Exchange Board of India (SEBI) has approved NTPC Green Energy, the company’s renewable energy business, to move on with its eagerly awaited initial public offering (IPO). The company intends to raise Rs 10,000 crore through the issuance, having first submitted its draft documents to SEBI on September 18, 2024. The IPO will…
According to the food ministry, 33 million tons (MT) of sugar will be produced during the 2024–25 sugar season (October–September). This amount would be sufficient to meet 29 MT of domestic consumption each year as well as the 4.5 MT needed to produce ethanol. 5.76 million hectares of sugarcane were sown during the current Kharif…
A slight recovery is anticipated in the second half of FY25 as the cement industry navigates through a cyclical trough. The demand is undoubtedly slowing down after a strong expansion in FY22 and FY24. Cement consumption in India has historically increased at about 6% in tandem with GDP development. Nonetheless, over the last three years,…
On Friday, Larsen and Toubro (L&T) declared that it had secured a new, substantial order from the ITER Organization, an intergovernmental body based in France, for the deployment of vital advanced technologies for the assembly of ports and complex parts with the Vacuum Vessel at the largest nuclear fusion project in the world, located in…
