After years, choppy markets have revived the trades on over-the-counter (OTC) currency derivatives as corporates fish around for fancy deals at modest (or, even zero) cost to guard themselves from fluctuations in foreign exchange rates.
Tamilnad Mercantile Bank reported a 35% year-on-year rise in June quarter net profit to Rs 412 crore, driven by higher income and net interest income.
Seven BSE 150 MidCap stocks scaled fresh 52-week highs as Sensex surged 776 points in a broad-based rally. Lloyds Metals & Energy, Laurus Labs and
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