HDFC Bank’s market capitalisation crossed the Rs 14 lakh crore mark for the first time in intra-day trades as the stock price of the largest private sector lender hit a record high on the BSE. Shares of India’s largest private bank rose as much as 1.13% to Rs 1,832.70 apiece. The stock has risen 19.68%
Gold prices saw an increase on November 28, after the decline in the US inflation data released in the last trading session. Therefore, a rate cut can be expected by the Federal Reserve on this basis. Spot gold price was up by 0.4 per cent to $2,645.67 per ounce, Similarly US gold futures saw an
Shares of SBI Life and HDFC Life, the two largest private insurers, fell 6% intraday on Thursday after reports suggested the insurance regulator might impose a cap on bancassurance sales due to concerns over frequent mis-selling. SBI Life closed at Rs 1,424 on the NSE, down 5.41% from its previous close, while HDFC Life ended
Stocks of a number of automobile companies came under pressure on Thursday following a report that eight carmakers were found to have higher than mandated fleet emission levels, which could result in penalties of around Rs 7,300 crore. Mahindra & Mahindra was the top loser, declining 3.35% to close at Rs 2,904 during the session.
Crude oil prices stayed steady on November 28, after an unexpected jump in US gasoline stock supplies and delaying of the OPEC + meeting on output policy, which was moved from December 1 to December 5. Today Brent Crude futures moved up by 8 cents to $72.91 per barrel. While US West Texas intermediate (WTI)
The Indian rupee declined on November 28, almost reaching its all-time low for the week. It closed at Rs 84.4850 against the US dollar, down from Rs 84.4525 in the previous session. Last week, the rupee weakened to its all-time low of 84.5075 The major factors driving this downward move were demand for dollars to
By Ajit Mishra Markets ended the week with decent gains, offering relief after weeks of correction. Despite a negative bias for most of the week due to persistent FII selling, Friday’s sharp recovery, led by bargain hunting in index heavyweights, helped indices close near their highs. The Nifty and Sensex gained nearly 2%, ending at
By Subash Gangadharan The daily timeframe indicates that with Nifty bouncing back strongly last Friday and continuing to move higher on Wednesday on the back of positive market breadth and outperformance from broad market indices, the odds seem higher for more upsides. Nifty could however consolidate or witness a minor correction in the near term.
The department for promotion of industry and internal trade (DPIIT) has entered into a partnership with cigarette-to-consumer goods conglomerate ITC to help startups in the manufacturing sector, according to a statement on Wednesday. According to the memorandum of understanding (MoU) signed for the purpose, ITC’s experience and expertise with the market network will complement DPIIT’s
L&T Technology Services (LTTS) anticipates a decline in net hiring numbers in the coming years, driven by increasing automation and productivity improvements, Amit Chadha, CEO & MD told FE. “If we look at it year-on-year, our headcount has been flat, but we have grown 9% in rupee terms. Going forward next year, you can expect
After falling for the past five trading sessions, the rupee on Wednesday recovered 28 paise, or 0.33%, against the dollar, marking its biggest gain in over seven months, helped by a weaker dollar and a lower-than-expected trade deficit number. Intervention from the Reserve Bank of India also helped the rupee hold its ground. Also ReadStallion
Pension guidelines: The Ministry of Defence (MoD) recently came out with a uniform procedure to simplify the process of updating names and dates of birth in Pension Payment Orders (PPOs) for retired personnel and their dependents. This comes following recommendations from a Tri-Service Committee led by the Additional Director General of Military Personnel (Policy &
Food delivery giants Swiggy and Zomato are expected to moderate discounts in their core business as competition in quick commerce — another segment they are present in — intensifies, say industry experts. This shift reflects a strategic move towards sustainable pricing to balance profitability and maintain market leadership. Discounting has been a key strategy to
