Divgi Torqtransfer Systems’ IPO subscribed 5.44 times
The portion reserved for retail investors was subscribed 4.31 times, while the category for non-institutional investors (NIIs), including high-net-worth individuals, was subscribed 1.4 times. The qualified institutional buyers’ segment saw bidding for 7.83 times the shares set aside to them.
Private cryptocurrencies will never replace fiat currency: Nandan Nilekani
Nilekani said incidents like the “fall of cryptocurrency exchange FTX in the United States” have shown that private cryptocurrencies aren’t a big threat.
Bitcoin sinks to two-week low as Silvergate fallout hurts crypto
The largest token sank as much as 6% before paring some of the slide to trade 4.4% lower at $22,380 as of 8:30 a.m. Friday in London. Smaller coins such as Ether, Avalanche and the meme token Dogecoin also suffered declines.
India’s forex reserves fall for fourth week in a row, at 3-month low
India’s forex reserves slid by $325 million to $560.94 billion for the week ended February 24, data from the Reserve Bank of India (RBI) showed on Friday. India’s reserves have seen negative movement for the fourth straight week. The reserves have been declining as the central bank deploys the kitty to defend the rupee amid […]
Rupee hits one-month high on strong inflows from FIIs
The rupee closed the day at 81.96, up 63 paise from Thursday’s closing level, after testing the day high at 81.9050. It opened the day 35 paise higher at 82.24 against the previous close of 82.59, tracking the overnight non-deliverable forward market.