SoftBank will pay 17 pounds in cash for each ARM share.
The funds officially held by Indians with banks in Switzerland now accounts for only 0.07 per cent of the total funds kept by all foreign clients in the Swiss banking system.
Markets have slipped into the red after opening on the positive zone. The Sensex is down 35 points at 17,394. Nifty is down 10 points at 5,269.
Infosys, Reliance Industries, TCS, HDFC, HDFC Bank, Maruti, SBI, IndusInd Bank and Kotak Bank led the gains on the Sensex, rising up to 2.53 per cent.
Policymakers should aspire to restore the pre-Independence environment where the rupee was trusted and used all over South Asia, in Southeast Asia, in West Asia, and in East Africa, suggests Ajay Shah.
In the Sensex pack, Mahindra & Mahindra, Tata Steel, Tata Motors, Maruti, Larsen & Toubro, HDFC, HDFC Bank, Tech Mahindra and Bharti Airtel were the major laggards. Asian Paints, Bajaj Finserv, Power Grid, Reliance Industries, NTPC and UltraTech Cement were among the gainers.
The rupee plunged 90 paise to close at an all-time low of 80.86 (provisional) against the US dollar on Thursday after the US Federal Reserve's interest rate hike and its hawkish stance weighed on investor sentiments. Forex traders said the US Fed's rate hike and escalation of geopolitical risk in Ukraine sapped risk appetite. Moreover, the strength of the American currency in the overseas market, a muted trend in domestic equities, risk-off mood and firm crude oil prices weighed on the rupee.
As India's stock rises, the resolution of the border row may become even more difficult, warn Harsh V Pant and Kalpit Mankikar.
The country's new economic roadmap highlights the importance of creating a virtuous cycle of investment, savings and exports in order to sustain rapid economic growth over the next five years.
From the Sensex firms, Tech Mahindra jumped 5.58 per cent, followed by Nestle, Tata Steel, NTPC, Tata Consultancy Services, Asian Paints, Wipro and Bajaj Finserv. Mahindra & Mahindra, Hindustan Unilever, Axis Bank and Bajaj Finance were among the major laggards.
ICICI Bank will offer shares to Japanese investors without getting listed in Japan as a part of its upcoming Rs 2,300-cror
The country's per capita income is likely to grow by close to 70 per cent to $4,000 by fiscal 2030 from $2,450 in fiscal 2023, helping it become a middle-income economy with $6-trillion GDP, more than half of which will be coming in from household consumption, says a research report. Per capita income/GDP has risen from $460 in fiscal 2001 to $1,413 in fiscal 2011 and further to $2,150 in fiscal 2021. The biggest growth driver will be external trade which may nearly double to $2.1 trillion by 2030 from $1.2 trillion in fiscal 2023 when the GDP printed in at $3.5 trillion, Standard Chartered Bank said in a weekend report which assumes a 10 per cent nominal GDP growth annually from now on.
Benchmark BSE Sensex rose by 319 points on Monday on gains in IT and financial stocks after positive quarterly results amid supportive global cues. The 30-share BSE barometer rose by 319.90 or 0.53 per cent to close at 60,941.67. The index opened higher and gained more than 400 points to scale the 61,000 level. It touched a high of 61,113.27 and a low of 60,761.88 in the day.
L&T top gainer among the Sensex stocks.
While the RBI can nudge things along, ultimately bank owners must recapitalise and review internal processes to ensure that a culture of irresponsible lending doesn't continue, says Devangshu Datta.
With a 'tilak' on his forehead and a 'puja thali' in his hands, Shinzo Abe's picture attending the 'Ganga aarti' alongside Prime Minister Narendra Modi at the fabled Dashashwamedh Ghat in Varanasi in 2015 symbolised his 'India connect' and reflected the very special bond he shared with the country.
Axis Bank emerged as the biggest gainer in the Sensex pack, surging 6.62 per cent, followed by SBI at 5.88 per cent.
Equity markets would be mainly driven by global trends and foreign fund trading activity in the holiday-shortened week, analysts said. The BSE and the National Stock Exchange have listed March 7 (Tuesday) as a holiday on account of Holi. However, stock brokers' association ANMI has urged the government, exchanges and Sebi to shift the holiday to March 8 from March 7.
From the Sensex pack, Tata Motors, Sun Pharma, Wipro, Tata Consultancy Services, UltraTech Cement, Tech Mahindra, Bajaj Finserv, HCL Technologies, Infosys and IndusInd Bank were the major laggards. NTPC, Power Grid, Reliance Industries, Tata Steel, HDFC and HDFC Bank were the major winners.
For the longest time, the court did not even hear important matters that the government did not want it to. Of late, it has begun to form benches. Meanwhile a lot of the damage has been done and continues to be done, asserts Aakar Patel.
Foreign investment in India's start-ups has plummeted 72 per cent to $4.58 billion so far, from $16.2 billion during the same period last year.
BSE mid-cap index slipped 0.6% at 6,266. Small-cap index held on to gains and traded unchanged at 6,034.
Asia would become a major hub for corporate and investment banking in five years, according to a report released by McKinsey.
Indian policymakers are almost alone, alongside the United States, in seeking a hard and multi-sectoral global decoupling from China in the expectation that it will boost their economies, observes Mihir S Sharma.
India's voting pattern in the United Nations with regard to the Israel-Palestine conflict is lately marked by a calibrated distancing from Israel, observes Ambassador M K Bhadrakumar.
Benchmark Sensex rallied 455 points and Nifty rose more than 133 points to close above the key 18,000-mark for the first time since April on Tuesday as foreign institutional investors continued to be bullish on the domestic market. Continuing its rally for the fourth straight session, the 30-share Sensex rose 455.95 points or 0.76 per cent to close at 60,571.08 points. The broader Nifty climbed 133.70 points or 0.75 per cent to settle at 18,070.05 points. Previously, the Nifty had closed above the 18,000-mark on April 4 this year.
The rupee depreciated 44 paise and slipped below the 81-mark against the US dollar for the first time in early trade on Friday, weighed down by the strong american currency and risk-off sentiment among investors. Forex traders said escalation of geopolitical risk in Ukraine and rate hikes by the US Fed and Bank of England in a bid to contain inflation sapped risk appetite. Further, the strength of the American currency in the overseas market, a negative trend in domestic equities, and risk-off moods amid escalation of geopolitical risk in Ukraine weighed on the local unit.
Equity indices overcame a wobbly start to clock gains for the third session on the trot on Tuesday, propped up by banking, metal and energy stocks amid a mixed trend in global markets. A recovery in the rupee also bolstered sentiment, traders said. The 30-share BSE Sensex advanced 246.47 points or 0.45 per cent to settle at 54,767.62 after starting the trade on a weak note. In a volatile session, the benchmark hit a high of 54,817.52 and a low of 54,232.82 during the day.
IndusInd Bank was the top gainer in the Sensex pack, spurting over 5 per cent, followed by Bajaj Finserv, HCL Tech, Bajaj Finance, Kotak Bank and Axis Bank. NSE Nifty jumped 203.15 points to 17,780.00.
India is in a much better position to deal with the challenges related to growth and inflation, said Sanjiv Bajaj, president of industry body CII. According to official figures, India's retail inflation continues to remain above the Reserve Bank's tolerance level of 6 per cent since January, while the economic growth in the first quarter of the fiscal was 13.5 per cent, lower than the central bank's estimate of 16.2 per cent. "I don't want to say we don't have our own challenges with growth, with inflation but we are in a much better position and credit must go to everybody including the central and state governments.
Foreign ministers of G20 major economies will meet in the national capital on March 1 and 2 to deliberate on pressing global challenges amid escalating confrontation between Russia and the West over the Ukraine conflict that entered the second year this week.
BSE Realty index and BSE Bankex indices surged by over 2%.
The African Union on Saturday joined the G20 after all member countries accepted Prime Minister Narendra Modi's proposal to bring the key bloc of the Global South to the high table of the world's top economies, a major diplomatic achievement of India's presidency.
After the recent attack on debit cards exposed the gaps in their security systems, banks are getting serious about data privacy.
'This resilience should be viewed as reflecting the strength of the structural story.'
Rising crude oil prices, traction in China equities and inflation concerns back home are casting a shadow on the Indian equity markets in the short term, believe analysts at Jefferies. They said this could see the markets remaining range-bound in the near term before the next leg up.
In a significant development, India is believed to have placed a funding request of around $55 million in its first call with the Pandemic Fund of the World Bank, sources said. The fund has been set up to finance critical investments in a bid to strengthen pandemic prevention, preparedness, and response capacities at national, regional, and global levels, with a focus on low- and middle-income countries. It was created in the aftermath of the Covid-19 global pandemic.
In the Sensex pack, other gainers were Bajaj Finance, Bharti Airtel, Tata Motors, Hero MotoCorp, HUL, Asian Paints, HDFC duo and ONGC -- gaining as much as 2.87 per cent.
Kotak Mahindra Bank was the biggest gainer on both the indices, ending nearly 9 per cent higher following reports that Warren Buffett's Berkshire Hathaway Inc was planning to pick up stake in the private sector lender.
All five African teams at the last World Cup in Russia failed to get past the first round and the continent's football leaders have said their future priority is to make sides more competitive in the international arena.
