A potential risk to the rupee's appreciation trajectory lies in the event of a delay in the Federal Reserve's rate cut cycle, particularly if core inflation in the US remains elevated.
Tata Motors was the top gainer on better-than-expected June quarter revenues
There are overvaluation and excesses in many pockets of the market. This is most obvious in the IPO market, where loss-making companies have inflicted large losses on investors, observes Debashis Basu.
The currency market won't care for our moans, groans, cries and sighs. The rupee will find its own level, explains Tamal Bandyopadhyay.
Rupee is seen to remain in the range of 67.50-68.80 in the short-term
The old banknotes will remain in circulation concomitantly with the banknotes being issued now
The Reserve Bank of India is exploring a dedicated currency futures exchange, after taking an in-principle decision to launch rupee-denominated futures.
Still, it is not expected to gain much strength and will likely trade around Rs 63.00 to the US dollar by the end of April.
Currencies are traded 24 hours a day every working day.
Reserve Bank Governor Shaktikanta Das on Monday said despite the latest headwinds arising from the Jackson Hole summit leading to extreme volatility, our banking system and financial markets are strong enough to withstand such pressures. Taking the markets by surprise, US Fed chair Jerome Powell had told the annual Jackson Hole summit of central bankers and economists last week that he would have to keep raising federal fund rates to tame inflation, which remains the biggest challenge to the world's largest economy. He also warned of the pains that such monetary policy actions would create on growth and jobs.
Market watchdog Sebi gave its approval on October 11, USE said in a statement. NSE officials too confirmed receiving the approval.
Telecom operator Bharti Airtel reported more than 2.5 times jump in its consolidated profit to Rs 4,160 crore in the April-June quarter of 2024-25 compared to the year-ago period driven by an improvement in average revenue per user and an exceptional gain of Rs 735 crore. The company had posted a profit of Rs 1,612.5 crore in the same period a year ago. The consolidated revenue from operations of Bharti Airtel increased by 2.8 per cent to Rs 38,506.4 crore during the reported quarter from Rs 37,440 crore in the June quarter of the last year.
In recent months, several pharma multinational corporations (MNCs) are increasingly turning to Indian companies to expand market reach in the country's pharmaceuticals sector. Sanofi's partnerships with Dr Reddy's, Cipla, and Emcure, AstraZeneca and Mankind Pharma - teaming up for asthma medication distribution - are a few instances of this trend. This strategy allows MNCs to leverage established Indian networks and reach a wider audience. Indian companies also benefit from global brands and expertise, say analysts.
Led by a new generation of entrepreneurs, India's family offices are shifting from traditional investments in physical and tangible assets like real estate to investing in technology, healthcare, and retail stocks. This new wave of family offices is engaging in stock market investments, including pre-IPO placements and secondary market operations. "Born into a world of technology, the next generation, especially those born after 2000, view technology as equally crucial as finance for running a business.
The rupee depreciated by 9 paise and settled at its all-time low level of 83.13 against the US dollar on Wednesday, weighed down by a surge in crude oil prices and strong American currency. Forex traders said the Indian rupee depreciated as the US dollar rose to the highest levels in six months. Moreover, elevated crude oil prices also weighed on rupee.
'With China falling out of favour, India is where investors see the demographic and digital dividend apart from the benefits of reforms playing out.' 'Your prime minister has also done a great job of sharing this story with the world.'
Foreign currency loans raised by Indian companies nosedived to $210 million in the September quarter (Q2), 93.3 per cent less than the year-ago period when five firms raised $3.1 billion. The Q2 amount is the lowest since December 2003 quarter when India Inc raised $191 million. Companies cited volatility in the currency markets, sharp rise in interest rates in the United States, and fund availability in India as the main reasons behind the sharp fall.
'It's important that every portfolio is well diversified.' 'My own portfolio is diversified across asset classes: 50% is in equity funds, 15% in international schemes, 25% in debt funds and 10% in sovereign gold bonds.'
'This is a good time to restructure your portfolio because the sectors and stocks that performed in the last bull market may not perform as much now.'
A day after BRICS (Brazil, Russia, India, China and South Africa) nations agreed on a $100-billion foreign currency reserve pool to tackle the volatile foreign exchange markets, India on Friday said the pool would act as a buffer arrangement, adding it might not withdraw anything from this reserve.
Depreciating the rupee against the dollar to boost economic growth has fiscal constraints and monetary limitations
The stock of Godrej Consumer Products Limited (GCPL) fell about 3.7 per cent in trade after its Q3FY24 earnings disappointed brokerages and led to downgrades. Further, the stock, after a 15 per cent run-up over the past month prior to Monday's correction, had already factored in the upside from the business front. Its peer in the consumer space, Marico, too, saw a 4 per cent drop in its stock price.
Indian economy is doing well and the performance of domestic stock markets is not as bad as that of other nations.
Sanjay Mathur, managing director and head of economics research for Asia Pacific (ex-Japan), Royal Bank of Scotland, tells Business Standard that in the emerging market pack, India needs to learn lessons from Korea and Taiwan, which have managed their economic situations well.
The menace of fake currency which majorly funds terrorism to be carried out on the Indian soil continues to haunt Indian security agencies with the Inter-Services Intelligence devising new plans to continue with this operation.
A gradual weakening of the rupee, however, may add to inflationary pressures.
The Nifty IT index, data shows, has outperformed the markets in each of the last four election years post the result. announcement.
'Investors need to expect steady returns over the next one to two years with bouts of high volatility.'
A key reason for the rise in crypto currencies in 2023 is the possibility of the world's first Bitcoin ETF over the next few months.
Macroeconomic factors under control, says Rajan
In a major fake currency haul, the Bangalore police on Tuesday arrested nine persons and seized fake currency worth Rs 40 lakh. The police also seized six carbines, guns and six revolvers.
India's trade deficit with Russia continued to widen for the second consecutive year to $57 billion in the financial year 2023-24 (FY24), with Moscow becoming New Delhi's largest source of crude oil imports. All eyes will now be on Prime Minister Narendra Modi's visit to Russia during July 8-9, where he is set to meet President Vladimir Putin. This will be Modi's first visit to the Kremlin since the Russia-Ukraine conflict began over two years ago.
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Companies are legally allowed to invest in markets in India, but the practice has seldom stirred central bank concern until recently, when they have become much more active players.
From its recent lows, the stock of consumer major Marico is up 7 per cent on the back of a better-than-expected June quarter performance and robust outlook. In a pre-quarter update, the management indicated that domestic volume growth should witness an improvement in FY25, while other segments (growth portfolio, international business) too would see traction going ahead. The near-term trigger is strong sales and operating performance for Q1FY25.
'Young working adults between 25 and 34, who are in Indian Tier II and III cities, are leading the charge in terms of crypto adoption.'
Marico's January-March quarter (Q4) results were slightly better than consensus. Revenue was up by 1.7 per cent year-on-year (Y-o-Y) to Rs 2,280 crore. Ebitda grew by 12.5 per cent Y-o-Y to Rs 440 crore. Adjusted PAT was up 10.3 per cent Y-o-Y to Rs 320 crore.
'Market feels this Budget will promote all-round growth and that is what is giving it confidence.'
It said New Delhi increased its purchase of foreign exchange over the first three quarters of 2017 which does not appear necessary.
With September 11's rise, has appreciated 5.5% in just a week
The benchmark Sensex is 2.4 per cent shy of a new lifetime high but the market capitalisation (m-cap) of all companies listed on the BSE is already in the record books. At Thursday's (August 18) closing price, the total m-cap of 4,776 firms on the BSE stood at Rs 280.5 trillion, surpassing the previous high of Rs 280 trillion on January 17. This, even if the Nifty Midcap 100 is currently 5.4 per cent below its lifetime high, while the Nifty Smallcap 100 index is down over 20 per cent.
