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 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 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...
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.
TheSensex at the Bombay Stock Exchange climbed 203 points, or 0.5 percent, toclose at a new record high of 38,897. The Nifty at the National Stock Exchangeadvanced 47 points, or 0.4 percent, to a new peak of 11,739.
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.
Handset maker Xiaomi on Thursday launched a selfie-focused budget smartphone, the Redmi Y2, in India at an event in Delhi. The phone succeeds the Redmi Y1 and is priced starting Rs 9,999. Those want to buy the device will be available to do so on amazon.in, mi.com and Xiaomi's Mi Home retail stores in India. The phone is available in two variants – 3GB RAM and 32GB storage, and 4GB RAM and 64GB storage. The 3GB RAM variant is priced at Rs 9,999, while the beefier 4GB RAM variant costs Rs 12,999. In addition to the Redmi Y2, Xiaomi also launched its latest operating system MIUI 10 in India. The artificial intelligence-powered OS was unveiled in China last week, and comes with advanced photography algorithms and features such as full screen display gestures, and AI Preload,
HDFC Bank has once again been recognized with the Champion Security Award at the 14th Visa Asia Pacific Security Summit. For the second time in a row, the bank has won the award in the India & South Asia category. The Award is a mark of excellence reflecting leadership in risk management and payment security performance. “Congratulations to HDFC Bank on receiving their Visa champion security award. HDFC Bank has reliably exhibited a high level of risk management proficiency, which has constantly created a safe payment environment for consumers and merchants in India & South Asia. The award recognizes banks who apply international best practices to every aspect of keeping electronic transactions secure,” Shivakumar Sriraman, Chief Risk Officer-India & South Asia, Visa, said.
Both debt and equity markets experience net inflows Foreign Portfolio Investors (FPIs) injected funds worth Rs.223.1 billion in domestic capital market during January 2018. Funds worth Rs.55.2 billion were withdrawn in December 2017. Both debt and equity markets experienced net inflows. Net inflows from debt and equity markets amounted to Rs.93.6 billion and Rs.129.8 billion, respectively. Mutual fund investments fell by 1.5 per cent to Rs.269.3 billion as compared to the preceding month. Investments in equity markets declined while debt markets witnessed rise in investments in January.