The Reserve Bank of India (RBI) has started winding down its short position in the dollar forward book, after a gap of seven months, on the back of a softening dollar, while infusing funds via open market operations (OMOs) to counter the resulting liquidity drain.
US strikes on Iran's three main nuclear facilities have once again raised concerns that Tehran might shut down the Strait of Hormuz - one of the world's most critical chokepoints, through which a fifth of global oil and gas supply flows.
A group of lawyers, including senior advocate Harish Salve and Bar Council of India chairperson Manan Kumar Mishra, has written to the Chief Justice of India, alleging that a "vested interest group" is trying to put pressure on the judiciary and defame courts "on the basis of frivolous logic and stale political agendas".
Exchange-traded currency derivatives volumes are likely to drop in view of new Reserve Bank of India (RBI) rules, casting a cloud over further participation of retail investors and proprietary traders. There are concerns that existing positions without any underlying exposure will need to be liquidated. Also, weighed down by dollar demand from local oil companies and weakness in its Asian peers, the rupee on Wednesday (April 3) ended at a new closing low of 83.44 versus the US currency.
Foreign Portfolio Investors (FPIs) have pulled out over Rs 10,000 crore from Indian equities in the first three weeks of September, primarily due to rising US interest rates, recessionary fears, and overvalued domestic stocks. Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period. Mayank Mehra, smallcase, manager and principal partner at Craving Alpha,believes that strong economic growth prospects, attractive valuations, and government reforms could support foreign investment flows in the next month.
Market participants attribute the stability to the Reserve Bank of India's timely intervention in the foreign exchange market, both in terms of selling and buying dollars.
The Indian financial services space seems to be in a sweet spot as foreign investors have made a net investment of Rs 14,205 crore ($2.1 billion) in the sector in November amid strong credit growth and manageable non-performing loan portfolio. The investment comes following a net withdrawal of Rs 4,686 crore from financial services stocks in October on account of profit booking. Overall, foreign portfolio investors (FPIs) have made a net investment of Rs 36,238 crore in the country's equity markets in November.
'We are really distressed. All of us are broken, shattered. Two years of hard work and crores of rupees have gone down the drain because of piracy.' The Great Grand Masti team speaks out.
While former Delhi skipper Mithun Manhas will be the chief coach, Klusener's appointment is certainly the most high profile among the support staff across domestic teams.
Feroze Azeez, deputy chief executive officer of Anand Rathi Private Wealth Management, appeared on Rediff Chat to answer readers' queries on GST.
Police on Monday asked Bollywood actress Preity Zinta to appear before it latest by this weekend to record her "detailed" statement in connection with the alleged molestation case she has filed against her former boyfriend and industrialist Ness Wadia.
Bollywood actor Sanjay Dutt, who is currently serving his five year jail term after being convicted in the 1993 bomb blasts case, on Friday made it clear that he had never filed for pardon with the Maharashtra governor nor had he requested anyone else to do so on his behalf.
If the developers continue to express inability to pay, buyers should file a petition in the SC and request it to initiate proceedings under Article 142 of the Constitution
Risk-averse investors can hold up to 10 per cent of their portfolio in gold, while aggressive ones can keep five per cent.
Actor Sanjay Dutt, convicted in the Mumbai serial blasts case, on Thursday left home for jail to surrender on expiry of his 14-day furlough but was back home again, apparently due to lack of coordination between the prison and police authorities on his application seeking an extension of leave of absence.
The Bombay high court has questioned the extension of parole granted to actor Sanjay Dutt, convicted in the 1993 Mumbai serial blasts case.
Sanjay Dutt was on Saturday back in Pune's Yerwada Central Jail after prison authorities turned down his request for extension of furlough citing lack of "positive" report from the police after days of indecision that resulted in the actor overstaying his leave.
The judiciary has started going beyond the technicalities of the agreements and awarding compensation to buyers.
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