Falling rupee triggers curbs on FX positions; more steps likely to attract dollar inflows
The Indian rupee fell to 95.28 against the US dollar on Tuesday, breaching the 95/$ mark. This decline has led to speculation that the central bank may introduce new measures, potentially targeting Non-Resident Indians, to attract dollar deposits and bolster foreign exchange reserves.
Global Market Today: Asian stocks rise, oil falls as US cites Iran progress
Global stocks surged to record highs as President Trump indicated progress in Iran negotiations, easing geopolitical tensions. This development boosted tech shares, particularly in South Korea, while Brent crude oil prices declined. The positive sentiment also lifted U.S. stock futures, anticipating lower inflation and robust economic growth.
NCLAT sets aside CCI’s Rs 301.6-cr penalty on Grasim Industries, directs fresh hearing
The appellate tribunal NCLAT has overturned a Rs 301.6-crore penalty against Grasim Industries. The fair trade regulator CCI must now hear the Aditya Birla Group firm again. NCLAT found Grasim was not given a chance to present arguments after the CCI differed from its probe unit’s findings. The case concerns alleged dominance in the viscose […]
Rupee goes low & lower on oil fears, risk aversion
The Indian rupee hit fresh record lows, breaching 95 to a dollar, as firm oil prices above $110 a barrel fueled concerns about inflation and the balance of payments. The Reserve Bank of India intervened to support the currency, but limited inflows and increased risk aversion continue to pressure the rupee.
IIFL Finance plans to raise $400 million in ECBs
IIFL Finance is aiming to raise up to $400 million through external commercial borrowings, with Standard Chartered, JPMorgan, and HSBC arranging the deal. This move follows an earlier unsuccessful attempt in March, but improved investor sentiment and strong growth in its gold loan segment have bolstered the company’s outlook.
RBI releases norms for banks holding non financial assets
The Reserve Bank of India has released new draft rules. Banks can now hold specific non-financial assets only to recover bad loans. These assets must be sold within seven years. Selling them back to borrowers is prohibited. This aims for transparency and better recovery. The rules are open for public comment until May 26.
Mahindra & Mahindra surges on strong Q4 show, auto segment leads the charge
Mahindra & Mahindra shares rose on better-than-expected March quarter results, driven by strong farm equipment market share and automotive segment gains. While automotive demand is expected to continue, tractor volume growth may moderate due to a high base and anticipated weaker monsoon. Input cost pressures led to a sequential drop in Ebitda margin, despite price […]
It’s History! Smallcaps could build on big gains last month
The Nifty Smallcap 100 index surged 18.4% in April, its third-highest monthly gain since inception. Historical data suggests this could lead to further gains over the next 12 months, though elevated valuations present a potential cap on upside. Experts remain positive on small caps for an 18-24 month view, but caution that current valuations are […]