The Indian rupee depreciated to an all time low during the day, but ended slightly stronger at 85.01 per US dollar on a closing basis, due to the rebalancing of FTSE’s equity index and interventions from the Reserve Bank of India, traders said. The rupee hit a low of 85.10/$1 during the day, before closing … Read more
Rajasthan Chief Minister Bhajan Lal Sharma was addressing a farmers’ conference in Ajmer, organised as part of the BJP government’s first anniversary celebrations. | Photo Credit: X/@BhajanlalBjp Rajasthan Chief Minister Bhajan Lal Sharma on Friday (December 13, 2024) said the State government was working for welfare of farmers and cattle rearers and assured them that … Read more
Torrent Power on Monday said its Rs 3,500 crore qualified institutional placement (QIP) issue was oversubscribed four times. The issue received bids of about Rs 14,000 crore against the base issue size of Rs 3,500 crore, a company statement said. The issue garnered significant response from investors, including domestic mutual funds, global investors and insurance … Read more
Eight of the top-10 most valued domestic firms together added Rs 1,55,603.45 crore in market valuation last week, with HDFC Bank and Tata Consultancy Services emerging as the biggest gainers, in tandem with firm trend in equities. Last week, the BSE benchmark zoomed 1,536.8 points, or 1.98 per cent, and the Nifty climbed 374.55 points, … Read more
The Additional City Civil and Sessions Judge and Special Judge for CBI Cases on Friday convicted and sentenced three men, including two former branch managers of a nationalised bank, to one to three years of imprisonment and slapped a fine of ₹52 lakh in connection with a bank fraud case amounting to ₹12.63 crore. The … Read more
Provisioning for bad loans by banks fell in the September quarter for the second consecutive period based on year-on-year comparison driven by the public sector banks (PSBs). For a sample of 29 publicly listed banks, provisioning for non performing assets (NPA) fell by 2.9% to Rs 27,318.2 crore. For PSBs, it fell by 11.6% to … Read more
Markets regulator Sebi on Monday directed Credit Rating Agencies (CRAs) to verify the issuer’s fund availability and ascertain the reasons for payment failure in cases where non-payment of debt arises due to factors beyond the issuer’s control. Also, CRAs have to ensure that the required payments are deposited into an escrow account on the due … Read more
Organisers with drones ahead of the show at Punnami Ghat | Photo Credit: G.N. Rao Thousands of drones flew into the sky in the largest drone show, organised as part of Amaravati Drone Summit – 2024, at Punnami Ghat on the banks of River Krishna on Tuesday. The river bank was illuminated for the drone … Read more
Four of the top-10 most-valued firms together added Rs 81,151.31 crore in market valuation last week, with ICICI Bank and HDFC Bank emerging as the biggest gainers. Last week, the BSE benchmark declined 156.61 points, or 0.19 per cent. While HDFC Bank, Bharti Airtel, ICICI Bank, and the State Bank of India were the gainers, … Read more
State-owned Indian Overseas Bank on Thursday posted a 24% surge in net profit to Rs. 777 crore in the second quarter ended September 2024, due to interest income and onboarding of new customers. The bank had earned a net profit of Rs. 625 crore in the same quarter a year ago. The bank earned an … Read more