Unfazed by the Supreme Court upholding winding up of the company, shareholders of Devas Multimedia will continue to seek seizure of Indian government assets abroad to collect $1.2 billion the firm has been awarded by arbitration tribunals for cancellation of a satellite deal but are open for talks to settle the issue, their counsel said. "The decision by the Supreme Court does not change anything. The Modi government and the Indian courts cannot rewrite the facts. "Their flimsy allegations of fraud will never stand up in courts outside of India," said Matthew D McGill, partner at Gibson, Dunn & Crutcher, and lead counsel for several Devas' shareholders.
The foreign exchange kitty had crossed the half-a-trillion mark for the first time in the week ended June 5, 2020, after it had swelled by $8.223 billion to stand at $501.703 billion.
Raghuram Rajan has described the fall in reserves as dip in valuation with appreciation of dollar against other currencies
Around 15 years ago, when Reliance Industries (RIL) struck natural gas in the Krishna-Godavari (KG) basin off the east coast, the government made plans to supply that fuel cheaply to scores of generators that sprang up in India triggered by the discovery. Most of the plants, which account for 6 per cent of India's total generation capacity, operate sparsely after the KG-D6 area first failed to meet production targets, and then finally shut shop. Affordable domestic gas was why those thermal plants came up and the rate of the fuel today is why those generators hardly operate. Record liquefied natural gas (LNG) rates may yet again unravel India's ambitions to expand use of gas in industries, households and vehicles. Rates, while volatile, may stay strong this decade as developed nations with higher purchasing power embrace gas as the transition fuel.
CoinSwitch has 7.21 times more cash holdings in rupees, compared to that held by its users on its platform.
In the week ending July 26 foreign exchange reserves had recorded a rise of $960.2 million to $ 280.16 billion
'In the business of money, where you are regulated, the liability lies on the head of the acquirer.' 'It is not a good thing when you cannot spot the risks.'
At the Interbank Foreign Exchange (Forex) market, the rupee resumed lower at 54.18 a dollar from previous close of 54.01.
India's foreign exchange reserves have dropped by a massive $1.649 billion to $314.661 billion in the week to December 5, led by a fall in foreign currency assets.
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The rupee tumbled past 63.00 to the dollar, down about 2 per cent on the day and breaching the previous low of 62.03 hit on Friday despite a spate of measures in recent weeks by the central bank and government to defend it.
The country's foreign exchange reserves declined by $810.7 million to $318.579 billion for the week ended August 22, on account of drop in foreign currency assets.
The RBI is still a small player in international gold buying among central banks. But in terms of total gold bought in 2019, it is the sixth largest buyer with 25.2 tonnes purchases in the first 10 months of 2019.
India's foreign exchange reserves dipped by $1.327 billion to $317.313 billion in the week ended September 5 on a slide in the currency assets and gold stockpile, the Reserve Bank said.
The 30-share Sensex ended down 538 points at 26,781 and 50-share Nifty ended down 152 points at 8,067.
The rupee has dropped by 83 paise or 1.24 per cent in three days
Foreign funds sold Indian shares worth 446.9 million rupees ($7.4 million) on Wednesday, provisional exchange data showed, marking the third consecutive session of outflows.
Telecom major Bharti Airtel on Wednesday reported a 29 per cent decline in consolidated net profit at Rs 512 crore (Rs 5.12 billion) for the quarter ended September 30, 2013, mainly on account of increase in finance cost and forex losses due to rupee depreciation.
A Russian medallist at the Pyeongchang Winter Olympics is suspected of having tested positive for a banned substance, a source at the Games said on Sunday, in a potential major blow to Russia's efforts to emerge from a drug-cheating scandal.
The 30-share Sensex ended down 208 points at 27,057 and the 50-share Nifty closed 59 points lower at 8,094.
The net worth of India's richest man, Mukesh Ambani, dropped 28 per cent, or USD 300 million a day for two months to USD 48 billion as on March 31 due to the massive correction in stock markets, a report said on Monday. The chairman and managing director of the diversified Reliance Industries saw his wealth decline by USD 19 billion (app Rs 144,400 crores) in the February-March period, taking his global ranking down eight places to 17th, the Hurun Global Rich List said.
The reserves had dropped by $1.434 billion to $348.934 billion.
CARE Ratings, in a report, said it foresees an increase in the retail prices of petrol and diesel in the coming few days, depending on how the oil markets react in the reduction in supply from the cartel.
India, which imports over 80 per cent of its oil needs, spent $87.7 billion on importing 220.43 million tonne (MT) of crude oil in 2017-18. For 2018-19, the imports are pegged at almost 227 MT.
A strong dollar overseas and some hesitancy in local stocks, however, limited the rupee rise.
The foreign currency assets rose by $75 million to $291.39 billion
The company plans to raise $1 billion with a private placement of convertible debentures.
While selling started in April, it has intensified this month, with FPIs pulling out $1.1 billion and $2.5 billion from equities and debt market, respectively
India's foreign exchange reserves fell further by $430 million at $118.89 billion during the week ended August 20 after witnessing a marginal dip of $14 million a week earlier.
'With our focus and strategy we can solve at least 20 per cent per cent of India's education problems.'
India's foreign exchange reserves declined by $685.1 million to $274.81 billion in the week ended August 30 due to a dip in the foreign currency assets, the Reserve Bank said.
Jio's global partnerships took shape this year when Jio Platforms, a 100 per cent subsidiary of Reliance Jio which has invested in various digital platforms, was able to woo a bevy of marquee investors: Facebook, Google, Qualcomm, Intel, and a numerous PE funds.
India's foreign exchange reserves rose by $2.8 billion to $343.2 billion
In the previous week, total reserves dropped by $273.8 million to $312.382 billion.
SBI's overall gross NPA as on end-December 2013 was close to Rs 68,000 crore ( Rs 680 billion) or 5.73 per cent of its gross advances.
Financials and auto stocks were the top losers while energy and IT shares recovered
After falling for two consecutive weeks, foreign exchange reserves marginally rose to $319.39 billion, up by $43.3 million, for the week, driven by an increase in foreign currency assets.
The country's foreign exchange reserves rose by $1.434 billion in the week ended August 9, after dropping by $2.99 billion previous week, the Reserve Bank of India said.
The rise in reserves was $2.12 billion.
India's foreign exchange reserves rose by $631 million for the week ended April 24 to $253.091 billion from $252.460 billion in the previous week.
India's foreign exchange reserves declined by $676 million for the week-ended June 24, 2005 due to revaluation of international currencies including US dollar.
