HCL Tech was the top gainer in the Sensex pack, rising over 4 per cent, followed by HDFC Bank, Infosys, NTPC, Nestle India, TCS and HUL. NSE Nifty surged 337.80 points to 14,845.10.
India's second-largest telecom firm Bharti Airtel on Tuesday reported a net profit of Rs 1,134 crore for the September 2021 quarter, and said it is witnessing strong business momentum with growth in 4G customers and increase in mobile ARPU. This is against a loss (attributable to owners of the parent) of 763.2 crore during the year-ago quarter, the company said in a statement. Its consolidated revenues for the second quarter of FY21 stood at Rs 28,326.4 crore, up 18.8 per cent year-on-year (on a comparable basis) and 13 per cent y-o-y on a reported basis, it added.
A British court on Monday granted a bankruptcy order against Vijay Mallya, paving the way for a consortium of Indian banks led by the State Bank of India (SBI) to pursue a worldwide freezing order to seek repayment of debt owed by the now-defunct Kingfisher Airlines. "As at 15.42 [UK time], I shall adjudicate Dr Mallya bankrupt," Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs said in his ruling during a virtual hearing of the Chancery Division of the high court. "I have to decide if there is a real prospect of payment of petition debt in full within a reasonable period of time... there is insufficient evidence that [Mallya's asset realisations in India] will pay the debt in full within a reasonable period of time," Judge Briggs noted, in reference to defence arguments pointing to a restoration process in India following a Prevention of Money Laundering Act (PMLA) court order for the attachment of Mallya's assets.
The rupee had snapped its 3-day losing streak on Thursday.
The retail selling price of petrol at Delhi would come down by Rs 1.82 a litre.
The RBI governor is focused on growth, and keeping rupee slightly depreciated is part of that 'Atmanirbhar Bharat' strategy.
How the sharp move in the Rupee has affected Futures markets in India.
A lot will depend on how the equity markets in the US play out in April-May this year. A correction there, long overdue, could change all the variables in the current equations, says Sonali Ranade
The rupee snapped 2-day rise to end weaker against the dollar on Thursday.
'Rationalising TDS on dividends for FPIs to reduce it to treaty rates ranging from 5 to 15 per cent, depending on the country of residence of FPIs from current rate of 20 per cent will provide a big cash flow relief for FPIs.'
The global brokerage firm believes that CRR cut is likely to help cut lending rates and revive growth sentiments.
"Reaching an international agreement on how large digital companies are taxed has been a priority for the chancellor since he took office," said a spokesperson for his UK treasury office. "The chancellor's consistent position has been that it matters where tax is paid, and any agreement must ensure digital businesses pay tax in the UK that reflects their economic activities. That is what our taxpayers would expect and is the right thing," the spokesperson said.
Indian bonds remained volatile over the past week on uncertainties over the maiden offshore sovereign bonds issuance, according to a report by DBS Group Research.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Month-end dollar demand from oil companies mainly affected the rupee value against the US currency, a forex dealer said.
Singapore Exchange plans to launch more India-based products to provide opportunities for global investors interested in tapping the Indian market.
The rupee extended gains for the fourth straight day against the US currency on Thursday.
Get your weekly dose on the goings on in the fashion and entertainment industry.
However, the consultant cautioned that security concern may keep prospective property buyers at bay for now.
In the global markets, the euro was under pressure against the US dollar yesterday, dragged lower as European monetary policy officials indicated willingness towards supporting more stimulus measures to aid the regional economy.
Gautam Gambhir launched a scathing attack on former skippers Bishan Bedi and opener Chetan Chauhan after the Haryana speedster made it to India's Test team.
Ashish Vohra, Senior Director and Chief Distribution Officer with Max Life Insurance answered readers' queries on retirement planning.
Sarvesh Agrawal of Internshala offers a detailed guide on the application process.
Resilience of Mumbaikars inspired Shiladitya Mukhopadhayaya.
'Tax dodging through tax havens is one of the ways multinational corporations and the super-rich in India are using to evade taxes.'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
A resurgent US dollar is the key feature of the current scenario and its value continues to drive other markets, from euro, yen to the INR. Most currencies continue to seek lower valuations against the greenback. This trend is likely to continue until the dollar peaks out by yearend at around 89 as opposed to 84.5 right now, says Sonali Ranade
When you have a new job, it is tempting to splurge. But always remember your loan repayment comes first.
Emerging market currencies including Indian rupee are likely to remain under pressure, though depreciation is expected to slow from here, Barclays said in a research report.
The rupee had shed four paise at 63.81 against the US dollar in Friday's trade on sustained demand.
BCCI donates 51 crore to Prime Minister's Relief Fund for disaster management in wake of COVID-19 pandemic while Suresh Raina donated 52 lakh.
In recent sessions, shares have rallied on hopes Hindu nationalist opposition leader Narendra Modi, a more business-friendly candidate, is seen coming to power on promises of economic revival and jobs.
George Panayiotou, the 30-yr-old is son of former boxer turned entrepreneur Andreas Panayiotou whose net worth is 400 million GBP.
The reserves rose to $501.70 billion helped by a whopping rise in foreign currency assets, the latest data from the Reserve Bank of India.
The bank adds it expects Modi to fight inflation through administrative measure
Para-archer Ankit hospitalised after testing positive for COVID: SAI
In the global market, the US dollar index, which tracks the greenback against a basket of six major rivals, was up by 0.33 per cent.
The rupee on Tuesday fell to a two-month low of 54.78 against the US dollar.
'As the growth momentum reverses benefiting from re-monetisation, it will be accompanied by a rise in inflation.'
