India rupee ends just shy of record low on companies' dollar bids
The Indian rupee fell to 83.6500, nearing its June 20 low of 83.6650, due to corporate outflows and oil companies' dollar bids.
The Indian rupee fell to 83.6500, nearing its June 20 low of 83.6650, due to corporate outflows and oil companies' dollar bids.
UP police will close the Delhi-Meerut Expressway for the Kanwar Yatra, diverting traffic to other routes. Heavy vehicles will be banned from July 22, with all vehicles restricted from July 29 to August 5. Pilgrims will use alternative routes, and no camps will be allowed on NH-9 or DME. 116 of 214 camp applications have been approved.
A train accident in the Gonda-Mankapur region of Uttar Pradesh derailed at least four coaches of the Chandigarh-Dibrugarh train, with no confirmed injuries or casualties reported. The incident prompted immediate response from Chief Minister Yogi Adityanath, who directed officials to expedite relief efforts and ensure proper treatment for the injured.
Indian real estate market saw deals worth USD 1.56 billion during April-June 2024, a nearly eight-fold increase from the preceding quarter, according to Grant Thornton Bharat. This surge, driven by four high-value transactions and reflecting economic recovery, included 19 deals with substantial growth in both M&A and private equity investments
Budget 2024: Hopes are high that Finance Minister Nirmala Sitharaman will announce some populist measures in Budget 2024 to ease the burden of the taxpayers. One of the most widely expected measures is raising the standard deduction limit from Rs 50,000. Experts are optimistic that FM could raise the basic exemption limit of Rs 3 lakh in the new tax regime as well. What can taxpayers expect from the first Budget of Modi 3.0? Find out what experts say
Toshiba Transmission & Distribution Systems India will invest Rs 500 crore over three years to expand transformer capacity by 1.5 times and meet global demand. Enhancements include the CRGO facility and new assembly/test lines. Operational in 50 countries, they also plan a surge arresters facility by 2024 and provide renewable energy technology like photovoltaic inverters, GIS, and inverter duty transformers.
Infosys Q1 Results: The revenue from operations for the quarter stood at Rs 39,315 crore, reflecting a 3.6% rise from Rs 37,933 crore in the same quarter of the previous financial year.
Punjab Chief Minister Bhagwant Mann's statement came after President Droupadi Murmu returned a Punjab bill that sought to replace the state governor with the chief minister as the chancellor of state-run universities without her assent. Mann said he will hold a meeting over the issue of the Punjab Universities Laws (Amendment) Bill, 2023, which has been returned by the President without her assent.
Sterling and Wilson Renewable Energy Ltd reported a Rs 4.83 crore net profit in the June quarter, reversing a Rs 95.32 crore loss. Total income reached Rs 927.89 crore, with expenses at Rs 913.23 crore. CEO Amit Jain emphasized shareholder value. The order book stands at Rs 2,170 crore, with net debt of Rs 97 crore.
India’s equity asset class is looking to really do well. Having said that, if you look at the valuations basically, we have started discounting FY26 and FY27, so that basically means that we are probably headed into a phase of time correction, consolidation, probably some amount of value correction that we should be prepared for.
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The company’s Lloyd business grew the highest, by 47% year-on-year to Rs 1,924 crore. Industry executives attributed the high growth of Lloyd to the all-time highest sales of air-conditioners by the industry due to a scorching summer this season.
The Rampur MP, whose Lok Sabha polls candidature caused a flutter with SP veteran Azam Khan reportedly opposing it, hailed Khan as a big leader of the state, party and Rampur.
Indian crypto exchange WazirX faces temporary withdrawal suspension due to a security breach. Multisig wallets compromised, funds moved to new address. Users advised to revoke approvals for safety. Investigation ongoing. Traders urged to stay calm and await resolution.
Two K9 teams from the Central Reserve Police Force (CRPF) have reached Paris as part of the 10 K9 teams from various organisations selected to provide security to various venues of the upcoming Paris Olympics, 2024, scheduled from July 26 to August 11.
Violent clashes in Bangladesh have led to six deaths and hundreds of injuries as student protests demanding the abolition of a 30% government job quota for families of freedom fighters intensified. Police used tear gas to disperse protesters, and mobile internet services were temporarily suspended to curb unrest. The protests, which pose a significant challenge to Prime Minister Sheikh Hasina's government, saw sporadic clashes and a nationwide call for shutdowns.
U.S. President Joe Biden canceled $1.2 billion in student debt for 35,000 borrowers, totaling 4.76 million beneficiaries from his debt relief efforts despite Republican opposition. Republicans criticize the move as an overreach benefiting only college-educated borrowers. Each beneficiary will receive $35,000 in debt cancellation.
Former Maharashtra home minister Anil Deshmukh claimed that some BJP MLAs are interested in joining the NCP (SP), with a shift already seen in ex-corporators resigning. He mentioned that BJP MLAs are disappointed with lack of representation in government and hinted at the return of NCP MLAs. Deshmukh demanded the release of a report clearing him of bribery allegations and threatened legal action if the government failed to disclose it.
Polycab India Ltd's June 2024 net profit fell to Rs 401.62 crore due to Rs 4,223.06 crore in expenses. Revenue rose to Rs 4,698 crore. The wires and cables segment earned Rs 3,942.12 crore, up from Rs 3,553.77 crore. The FMEG segment increased to Rs 385.49 crore, up from Rs 314.54 crore, per regulatory filing.
The decline wasn't limited to just a few altcoins and meme coins. BNB dropped by 1.5%, Solana by 2%, XRP by 6.9%, Toncoin by 1.2%, Dogecoin by 4.3%, Cardano by 1.6%, Avalanche by 4.4%, Shiba Inu by 11%, Polkadot by 4.2%, Chainlink by 4.4%, and NEAR Protocol by 3.5%.