Radhakishan Damani, Hemendra Kothari among India’s top stock market investors
With a Rs 1.59 lakh crore portfolio, Damani tops the chart, followed by Jhunjhunwala family. These investors together own shares worth `2.3 lakh crore, about 0.7% of the BSE’s total market capitalisation.
Rupee closes at all-time low of 83.15 on US Rate, China worries
The rupee closed at 83.15 per US dollar on Thursday versus 82.95 per dollar at previous close. The previous record closing low for the Indian currency was 83.02 per dollar on October 19, 2022. The rupee had hit an all-time intra-day low of 83.29 per dollar on October 20, 2022.
India needs major supply side reforms to check wild swings in vegetable prices: RBI report
“The vulnerability of the economy to recurring incidence of vegetable price shocks, especially ahead of and during the monsoon, warrants major reforms in perishable supply chains covering transportation networks, warehousing and storage technologies, and value addition processes that damp the amplitude of these swings,” the central bank report said.
Discounts, promos help smartphone cos cut inventory ahead of festivals
The inventory has come down significantly from the 12-13 weeks’ pile-up by the end of the March quarter as a result of aggressive promotions, end-of-life discounting, and roping in of brand ambassadors, market trackers said.
India’s PC sales dipped 15.3% on-year in April-June quarter: International Data Corporation report
Notebooks, which usually drive the majority of volume for personal computer shipments declined 18.5% on-year, while desktops, which had been on a growth trajectory till the quarter ending March, declined by 7% on-year.
Adani Energy Solutions to buy transmission project
The KPS1 project includes the implementation of the KPS1-Khavda PS GIS (KPS2) 765 kV double circuit line and the augmentation of Khavda PS1. The project was initially slated to be completed within 21 months.
Global G-Sec yields reach 15-year highs as rate-hike worries build
In early US trading Thursday the 30-year Treasury yield rose as much as seven basis points to 4.42%, slightly exceeding last year’s high. It was below 4% as recently as July 31. The US 10-year yield approached 4.31%, within a few basis points of its 2022 peak.