Infosys and Wipro delivered better than expected sequential growth in dollar denominated revenue for the September quarter. The difference in their performance was on the front of profitability and the total contract value of new deals. While Infosys disappointed on these parameters, Wipro surpassed analysts’ estimates on profits, profitability and also reported a revival in … Read more
The so-called Yen carry trade has been in focus in the past few trading sessions in the wake of the selloff in shares of US technology giants. A look at what is Yen carry trade and what it means for the financial markets worldwide: What is a Carry Trade? A carry trade is a hugely … Read more
The National Investigation Agency (NIA) on Monday filed a chargesheet against an accused in the 2019 Surat Fake Indian Currency Notes (FICN) case. The central anti-terror probe agency charged Abdul Gaffar, alias Gaffarbhai, a resident of Bihar’s Katihar, for being involved in a criminal conspiracy, along with several others, for the circulation and distribution of … Read more
Airtel reported a 4.4% rise in its profit before exceptional items and taxes to ₹52.34 billion. File | Photo Credit: Reuters Indian telecom operator Bharti Airtel reported fourth-quarter revenue below expectations on Tuesday, hurt by currency devaluation in Africa. India’s second-ranked telecom carrier by subscribers said consolidated revenue from operations rose 4.4% to ₹375.99 billion … Read more
“I think rate cut, again expectations have been also sort of pushed beyond because we do not expect the US Fed to sort of cut rates because that will sort of put pressure on the currency,” says Pankaj Pandey, Head Research, ICICIdirect.com.What is the market expecting from the RBI policy, a status quo and I … Read more
“We are expecting that this low volatility could still continue. So, there has been this tussle which has been going on between the bulls and the bears,” says Gaurang Somaiya, MOFSL. First thing I want to ask about is the volatility in rupee which is at a multi-month low. Now, this is making Indian corporates … Read more
Mumbai: Currency in circulation declined by ₹36,492 crore a week after the Reserve Bank of India requested people to deposit or exchange the recently withdrawn ₹2,000 notes, most probably reflecting the value of notes returned to banks. Latest RBI data shows that the outstanding currency in circulation (CIC) as on May 26 was at ₹34.4 … Read more
The petitioner submitted that the Reserve Bank of India cannot withdraw from circulation or discontinue banknotes and only the Central Government is vested with such powers. File | Photo Credit: PTI The Reserve Bank of India (RBI) cannot withdraw from circulation or discontinue banknotes and only the Central Government is vested with such powers, the … Read more
The Reserve Bank of India‘s foreign exchange reserves jumped $7.2 billion to an eleven-month high of $595.98 billion in the week ended May 5. At current levels, the central bank’s reserves are at their highest since June 10, 2022. The sharp rise in the foreign exchange reserves was on account of an increase in the … Read more
Tara and Dev were deep in conversation about trading instruments and asset classes when there was a sudden knock at the door. With an anticipated look, Dev got up to answer it, and in walked Jay with a beaming smile on his face. Dev had been talking up Jay to Tara for a while now, … Read more