Tuesday, October 16News That Matters

Market

Rupee Collapses To Lifetime Low Of 72.91 Per USD $

Rupee Collapses To Lifetime Low Of 72.91 Per USD $

Market
The rupee sunk to an all-time low of 72.91 against the US dollar after opening at 72.87 earlier in the day. The domestic currency continued to sink at the forex market on Wednesday. The rupee sunk to an all-time low of 72.91 against the US dollar after opening at 72.87 earlier in the day. The domestic currency was quoting 22 paise lower at a fresh record low of 72.91 against the US dollar in morning trade amid surging crude oil prices and uanabated foreign fund outflows, reported news agency Press Trust of India (PTI).
MCA: Transfer of all Shares by Unlisted Public Companies to be in Dematerialised Form only

MCA: Transfer of all Shares by Unlisted Public Companies to be in Dematerialised Form only

Market, Policies
MCA notifies  issue & transfer of all shares in dematerialised form only by all unlisted Public companies The Ministry of Corporate Affairs (MCA) has notified that with effect from 2nd October, 2018, issue of further shares and transfer of all shares by unlisted public companies shall be in dematerialised form only. The MCA has taken this step as a measure for further enhancing transparency, investor protection and governance in the corporate sector. The rules in this regard have been amended accordingly.   According to the MCA, the major benefits of dematerialisation of securities which will now be available to unlisted Public companies include:-   Elimination of risks associated with physical certificates such as loss, theft, mutilation, fraud etc. Improvi
SAMSUNG’s Planned to opens its biggest store in Bengaluru

SAMSUNG’s Planned to opens its biggest store in Bengaluru

Market
Samsung Electronics Co Ltd opened its biggest mobile store in the world in India on Tuesday as it tries to take the pole position in the world's second-biggest smartphone market amid fierce competition from Chinese brands. The South Korean tech giant's roughly 33,000 square foot (3,000 square metre) store in the southern tech hub of Bengaluru will help it extend its lead in India over global rival Apple Inc, which has yet to open any flagship store in the country. India, which boasts more than a billion wireless connections, presents a lucrative opportunity for smartphone makers to expand beyond China and the United States where growth has slowed. Samsung opened the world's biggest smartphone plant outside Indian capital New Delhi just two months ago. "India is an extremely imp...
Petrol and diesel prices continue to rise

Petrol and diesel prices continue to rise

Market
The fuel prices continued to rise on Tuesday as petrol being sold at Rs 88.26 and diesel at Rs 77.47 per litre in Mumbai. Meanwhile, in the national capital petrol and diesel reached a new high of Rs 80.87 and Rs 72.97 per litre respectively. Yesterday, the Congress-led opposition parties staged a countrywide protest against the price hike of petrol and diesel and devaluation of the Indian rupee. The rupee plunged to 72.67 against the US dollar on Monday.
Nifty Slips 59 points, Sensex breaks 35,500; Closed in 35,470

Nifty Slips 59 points, Sensex breaks 35,500; Closed in 35,470

Market
Indices ended at day's low with Nifty slipped below 10,800 and Sensex fell over 219 points as selling pressure seen in midcaps. The market breadth was on decline with 809 shares have advanced, 1721 shares declined, and 143 shares are unchanged. Tata Motors, HPCL, BPCL, L&T, ICICI Bank, Coal India, and Power Grid are the top losers on the indices. Expect IT space, all other sectoral indices ended lower with 0.4 percent to 2 percent cut.