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Business News

Rupee surged to 83.04 against US dollar after exit poll result

The rupee surged 38 paise to reach its three-month high level of 83.04 against the US dollar. The country's Goods and Services Tax (GST) receipts increased 10 per cent to Rs 1.73 lakh crore in May. On Friday, foreign investors bought shares worth a net of Rs 1,613.24 crore.

03 June,2024 12:16 PM IST | mid-day online correspondent
Business News

Investors gain Rs 12.48 lakh crore as sensex hits record high

The sensex hit high records after exit polls predicted a resounding victory for the BJP-led NDA in the Lok Sabha Elections 2024. 

03 June,2024 11:25 AM IST | mid-day online correspondent
Business News

Forex reserves plunge by USD 2 billion, gold reserves take a hit

In the previous reporting week, the kitty had reached an all-time high of USD 648.7 billion after a jump of USD 4.549 billion

01 June,2024 08:17 AM IST | Agencies
Business News

RBI Governor announces monetary policy, repo rate unchanged at 6.5 pc

Governor Shaktikanta Das announced the second bi-monthly monetary policy for the financial year 2024-25 at 10 am on Friday. The RBI's repo rate, is currently held at 6.50 per cent, unchanged since February 2023.

07 June,2024 11:43 AM IST | mid-day online correspondent
Business News

Indian markets see mixed day: Nifty 50 flat, sensex slightly up, banks lead gain

Private banks outperformed the Nifty, with HDFC Bank, Axis Bank, RBL Bank, ICICI Bank, IndusInd Bank, and Kotak Bank all making large gains.

19 June,2024 04:05 PM IST | mid-day online correspondent
Business News

SEBI proposes stricter norms for derivative trading on individual stocks

SEBI highlighted risks of low-turnover derivative equities in a recent consultation paper, including potential market manipulation, higher volatility & weaker investor protection.

18 June,2024 01:38 PM IST | mid-day online correspondent
Business News

Stock markets start week strong, Nifty hits new high

The top gainers in the Nifty 50 were Adani Enterprises, Wipro, Adani Ports, Mahindra & Mahindra, and Titan. The top losers were Dr Reddy's, Maruti, TCS, HDFC Life, and Divis Labs.

18 June,2024 12:48 PM IST | mid-day online correspondent
Business News

India witnessed over 30 pc rise in diversity hiring over the past 5 years: Data

In terms of sector-wise hiring, the Banking, Financial Services and Insurance (BFSI) sector employs the largest percentage of LGBTQIA+ talent of the available workforce at 18-20 per cent, followed by the IT sector at 15-18 per cent, and the consulting sector at 12-15 per cent

14 June,2024 02:05 PM IST | IANS
Stock Market

Sensex, Nifty hit new record highs following decline in retail inflation

The 30-share BSE Sensex rose 538.89 points to a lifetime high of 77,145.46, while the NSE Nifty gained 158.1 points to a record high of 23,481.05

13 June,2024 11:07 AM IST | mid-day online correspondent
Business News

Rupee falls 6 paise to 83.54 against US Dollar in early trade

At the interbank foreign currency market, the rupee began at 83.52 and fell to 83.54 against the dollar, a 6-paise reduction from its previous closing level.

13 June,2024 10:07 AM IST | mid-day online correspondent
Sensex drops by 214 points and Nifty slips by 63.8 points in early trade

Sensex drops by 214 points and Nifty slips by 63.8 points in early trade

The Indian stock markets experienced a decline in early trade on Friday, with the BSE Sensex falling by 214 points and Nifty dipping by 63.8 points, driven by continued foreign fund outflows and concerns over US Federal Reserve policies.

20 December,2024 10:11 AM IST | Mumbai
 Indian economy ends 2024 with strong growth as PMI hits 60.7 in December

Indian economy ends 2024 with strong growth as PMI hits 60.7 in December

India’s economy recorded its strongest growth in four months, with the Composite PMI for December rising to 60.7, driven by robust performance in manufacturing and services sectors,

16 December,2024 12:41 PM IST | New Delhi
6% revenue growth for Indian companies in FY24, wage growth slows: SBI Report

6% revenue growth for Indian companies in FY24, wage growth slows: SBI Report

A report by SBI reveals that Indian companies saw a 6% revenue growth in FY24, with a significant rise in profits. However, employee wage growth slowed, reflecting companies' efforts to optimise costs.

16 December,2024 08:50 AM IST | New Delhi
 Inflation decline sharper in high-income states, according to SBI report

Inflation decline sharper in high-income states, according to SBI report

The State Bank of India's report highlights that middle and high-income states have experienced a steeper decline in food inflation compared to low-income states, attributed to labour migration and faster disinflation in wealthier regions.

13 December,2024 09:25 AM IST | New Delhi
India’s edible oil imports jump 39% in November due to sunflower, soyabean surge

India’s edible oil imports jump 39% in November due to sunflower, soyabean surge

India’s edible oil imports surged by 39% in November 2024, driven by a sharp rise in the import of crude sunflower and soyabean oils, according to industry data released by the Solvent Extractors' Association of India (SEA).

12 December,2024 01:48 PM IST | New Delhi
Nifty at 24,604.45, Sensex at 81,476.76 open flat amid F&O expiry volatility

Nifty at 24,604.45, Sensex at 81,476.76 open flat amid F&O expiry volatility

Indian stock markets opened flat today, with the Nifty 50 at 24,604.45 points and the Sensex at 81,476.76 points. Experts predict increased volatility due to the expiry of futures and options contracts, although consolidation remains the broader trend

12 December,2024 09:54 AM IST | Mumbai
RBI expands UPI credit line linking and unveils AI ethics framework

RBI expands UPI credit line linking and unveils AI ethics framework

RBI extends UPI credit line linking to Small Finance Banks, introduces an AI ethics framework, and launches AI-driven fraud detection to strengthen the financial system.

06 December,2024 12:31 PM IST | New Delhi
Bitcoin hits USD 100,000 as big rally fueled by Trump's election victory persist

Bitcoin hits USD 100,000 as big rally fueled by Trump's election victory persist

The achievement comes just hours after the President-elect chose Paul Atkins to be the new chair of the Securities and Exchange Commission

05 December,2024 09:51 AM IST | New York | mid-day online correspondent
Morgan Stanley lowers India’s GDP growth projection to 6.3% for FY25

Morgan Stanley lowers India’s GDP growth projection to 6.3% for FY25

Morgan Stanley has revised India’s GDP growth forecast for FY25 from 6.7 percent to 6.3 percent, citing a slowdown in the July-September quarter. However, signs of recovery in October and November indicate a rebound in the latter half of the fiscal year

03 December,2024 12:36 PM IST | Mumbai
Retirement Planning: Want to retire early? Will FIRE strategy really help?

    Retirement Planning: Want to retire early? Will FIRE strategy really help?

    At one point of time, 60 years was the base retirement age. But times have changed now and youngsters want to retire by their 30’s. FIRE method has emerged as a very famous tool to achieve that. Choose FIRE to RETIRE! This has been the mantra given by many finance gurus when it comes to early retirement. But will this really work for you? In this episode of Money Matters, SEBI Registered financial advisor Kalpesh Ashar in conversation with Katyayani Kapoor breaks the myth of the FIRE strategy and where it is flawed when it comes to retirement planning. Take a look.

    22 September,2024 08:42 AM IST
    Rupee recovers slightly to 85.07 against US dollar, but pressures remain

    Rupee recovers slightly to 85.07 against US dollar, but pressures remain

    The Indian rupee appreciated by 6 paise to 85.07 against the US dollar on Friday after hitting an all-time low of 85.13 on Thursday. Forex traders anticipate further pressure on the currency due to persistent demand for the US dollar and global economic factors.

    20 December,2024 10:20 AM IST | Mumbai
    72% of taxpayers opt for New Tax Regime while filing ITR for AY 2024-25

    72% of taxpayers opt for New Tax Regime while filing ITR for AY 2024-25

    5.27 crore have been filed in the New Tax Regime while the remaining 2.01 crore ITRs are filed in the Old Tax Regime

    02 August,2024 04:28 PM IST | Mumbai | mid-day online correspondent

    01 January,1970 05:30 AM IST

    01 January,1970 05:30 AM IST
    Rupee settles flat, gains 1 paisa against US dollar on month-end demand

    Rupee settles flat, gains 1 paisa against US dollar on month-end demand

    The rupee held steady against the dollar on Thursday, rising by 1 paisa to close at 84.07 amidst month-end demand and potential RBI intervention. Foreign fund outflows and importer demand weighed on the currency as it neared record low levels.

    31 October,2024 04:34 PM IST | Mumbai

    CREDAI-MCHI report shows surge in housing sales in MMR

    The report highlights a substantial surge in sales in certain regions, including South Mumbai, which saw a 41 per cent increase driven by the redevelopment of old buildings into luxury projects

    02 July,2024 10:35 AM IST | Mumbai | mid-day online correspondent

    01 January,1970 05:30 AM IST
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