Page 3 - Market

Markets fall as US fires fresh trade salvo; Sensex down 548 points

Trump's threat to impose 25% tariffs on all steel, aluminium imports unsettles investors

Market forces decide value of rupee, RBI not worried, says Guv Malhotra

Reserve Bank Governor Sanjay Malhotra on Saturday said that the market forces decide the value of rupee with respect to the US dollar and the central bank is not worried about day-to-day movement of the currency value. Addressing the media after the meeting of Finance Minister Nirmala Sitharaman with the Reserve Bank board, Malhotra said that the central bank focuses on the value of the rupee in the medium to long term. On the impact of the depreciation of the rupee against the US dollar on price rise, the Governor said 5 per cent depreciation impacts domestic inflation to the extent of 30-35 bps. He further said that RBI took on board the current rupee-dollar rate while working out growth and inflation projections for the next financial year. Replying to a question, Finance Minister Sitharaman said the Union Cabinet has cleared the new income tax proposal and she hopes to have it introduced in the Lok Sabha in the coming Week. Thereafter it will be sent to a parliamentary standin

upGrad Achieves 30% YoY Revenue Growth; EBITDA & PAT Loss drops by 50%

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Dubai, Abu Dhabi race to lure world's asset managers, billionaires

Emergence of companies in a range of new sectors and potential for business created by Abu Dhabi's investments have not gone unnoticed in the international financial community

Gold dips Rs 10, silver falls Rs 100; precious metal trading at 96,900/kg

The price of 22-carat gold also witnessed a decline of Rs 10, with ten grams of the yellow metal selling at Rs 71,190

Fire at furniture market in Delhi's Nabi Karim area, 44 labourers rescued

The swift action of police averted a major tragedy in central Delhi as 44 labourers were rescued minutes before a blaze spread all over a four-storey building at a furniture market Nabi Karim area early Saturday morning, officials said. A call about the fire was received at 3.20 am. It was also reported that smoke was coming out from the building's ground floor, which is used as a furniture godown, a police officer said. The labourers were sleeping inside the building. It was found that there was an entry point to go on the upper floors but the shutter was closed. "The local police, in a swift action, broke the shutter, opened the gate, and proceeded to the second and third floors, where the labourers were sleeping," Deputy Commissioner of Police (Central) M. Harsha Vardhan said. Around 44 labourers were rescued before the fire spread all over the building and fire tenders arrived, he said. An official of Delhi Fire Service (DFS) said at least seven fire tenders were pressed into

Weak auto sales, rising costs may hit ancillary cos in near-term: Analysts

High valuations, cautious sentiment challenge PV and commercial vehicle firms

Market correction may drive deposit growth for banks: SBI MD Tewari

Tewari said that the deposit and credit gap is expected to correct next year as per the SBI's research

GPT Infraprojects launches QIP, fixes floor price at Rs 183.8; stock up 5%

GPT Infraprojects' board approved the floor price for the QIP at Rs 183.83 per share to raise Rs 175 crore

Weak US employment report sends global markets careening off track

Indian markets also fell more than 1 per cent on Friday, with the benchmark National Stock Exchange Nifty ending at 24,718

US will be bigger growth engine than Europe for Persistent System, says CEO

Kalra is confident that North America will continue to be a growth engine for the company going forward

Rising demand for room air-conditioners pushes up Voltas's stock

Distribution expansion, launches may perk up firm's showing

Nifty Private Bank nearing correction: Here's what the charts indicate

The Nifty Private Banks Index, currently trading at 24,395.25, is displaying indications of a correction in the near term

There are rewards for investors who are averse to taking market risk

They don't have to put their money in equity trade and yet build a corpus for their financial goals

Stocks to Watch on Mar 22: Bharat Dynamics, IT stocks, Prestige, L&T, PCBL

Stocks to Watch on March 22, 2024: Bharat Dynamics' board has approved an Interim Dividend of Rs 8.85 and a stock split of one share into two shares

Stocks to Watch on March 20: Voda Idea, JK Cement, TCS, Star Health, IFCI

Stocks to watch on March 20, 2024: ATC Telecom has asked Vodafone to convert the former's optionally convertible debentures worth Rs 1,440 crore into equity shares of the telecom company

Stocks to Watch, March 15: BPCL, IOC, IIFL Finance, Paytm, YES Bank, Biocon

Stocks to Watch on Friday, March 15, 2024: The Centre has reduced prices of petrol and diesel by Rs 2 per litre, effective from March 15, 6 AM

Jio Financial rallies 8%, hits new high on heavy volumes in weak market

In the past two months, the stock price of JFS has appreciated by nearly 50 per cent

Investors subscribe Platinum Industries IPO 8 times on Day 1 of bidding

The initial public offer of Platinum Industries received 8.04 times subscription on the first day of share sale on Tuesday. The Rs 235 crore-IPO received bids for 7,74,20,952 shares against 96,32,988 shares on offer, as per NSE data. The portion meant for non-institutional investors got subscribed 13.58 times while the Retail Individual Investors (RIIs) quota received 10.21 times subscription. The category for Qualified Institutional Buyers (QIBs) fetched 7 per cent subscription. The Initial Public Offer (IPO) has a fresh issue of up to 1,37,61,225 equity shares. The price range for the offer is fixed at Rs 162-171 a share. Platinum Industries has mobilised over Rs 70 crore from anchor investors. Platinum Industries, a multi-product company, is engaged in the business of manufacturing stabilisers. Unistone Capital is the manager to the offer.

HSBC's shares decline as $3 billion charge on stake in China bank

HSBC's shares slid as much as 8% in London, heading for their worst single-day drop since the Covid-19 pandemic erupted in March 2020