Markets rebound in early trade amid recovery in global equities
September 29, 2022 11:31 ISTBenchmark indices rebounded in early trade on Thursday with the BSE Sensex climbing 567.86 points amid a recovery in global equity markets.
Benchmark indices rebounded in early trade on Thursday with the BSE Sensex climbing 567.86 points amid a recovery in global equity markets.
Rupee falls: The rupee depreciated 40 paise to an all-time low of 81.93 against the US dollar in early trade on Wednesday as the strengthening of the American currency and risk-averse sentiment among investors weighed on the local unit.
The government has launched the Central Equipment Identity Register (CEIR) project to block and trace lost or stolen mobile phones and added Indian Counterfeited Device Restriction (ICDR) system to curb proliferation of such handsets.
The rupee consolidated in a narrow range and settled 9 paise higher at 81.58 (provisional) against the US dollar on Tuesday as the American currency retreated from its elevated levels. At the interbank forex market, the local unit opened at 81.45 against the greenback.
The ports-to-energy conglomerate will add 45 gigawatts of hybrid renewable power generation capacity and build 3 Giga factories to manufacture solar panels, wind turbines and hydrogen electrolyser.
While individuals are definitely more prone to such threats, recent reports suggest that more than 75% of Indian companies too are prone to cyber threats during festive season.
Power Grid, Tata Steel, Maruti, Mahindra & Mahindra, NTPC, IndusInd Bank, Axis Bank and Titan were the major laggards in the early trade.
The government has unveiled attractive incentives to spur local production and export of telecom and networking equipment as well as IT products, and a Rs 76,000 crore semiconductor scheme was announced late last year to boost local manufacturing of chips and display panels.
The RBI Governor-headed Monetary Policy Committee (MPC) is scheduled to start its three-day deliberations on Wednesday. The decision of the rate-setting panel would be announced on Friday (September 30).
Vincent Keaveny, the 693rd Lord Mayor who represents the financial hub of the City of London globally, has just returned from a four-day visit to India following meetings with leading Indian businesses and investors and finance chiefs at RBI and SEBI.
Reliance Industries retained its top spot in the list of the most valued Indian firms, followed by TCS, HDFC Bank, HUL, ICICI Bank, Infosys, SBI, Bajaj Finance, Adani Transmission and ITC.
Natural gas price hike this week will be the third increase in rates since April 2019 and comes on the back of firming benchmark international prices.
Against the backdrop of the rupee dropping to a lifetime low against the greenback, Sitharaman said the Reserve Bank and the finance ministry are keeping a very close watch on the situation.
Byju's co-founder and CEO Byju Raveendran at the time of announcing the result had said that the contractual commitment of the two investment firms is still there, but the fund has not come and these entities have not made any investment in the last six months.
In 2021-22, the country received the "highest ever" foreign inflows of USD 83.6 billion.
During his interaction with young entrepreneurs and students at the Indian Institute of Management - Ahmedabad (IIMA), Murthy expressed confidence that young minds can make India a worthy competitor of China, the world's second-largest economy.
The regulator found that as on January 2015, the promoters of Rammaica comprised Tien Trading Pvt Ltd held a 9.89 per cent stake, while Artlink Vintrade owned 2.39 per cent equity shares in the company.
The 30-share BSE Sensex tanked 1,020.80 points or 1.73 per cent to close at 58,098.92. Similarly, the NSE Nifty plummeted 302.45 points or 1.72 per cent to end at 17,327.35.
The new bill seeks to replace three laws: the Indian Telegraph Act, 1885, the Indian Wireless Telegraphy Act, 1933 and the Telegraph Wires (Unlawful Possession) Act, 1950.
India's forex reserves are at a two-year low. The reserves have dropped by almost USD 80 billion since the escalation of the Russia-Ukraine tensions into war earlier this year.
Top News
Latest News
