RBI’s forex reserves build-up leads to a huge $64.182 billion accretion in FY24 so far
[ad_1] India’s foreign exchange (Fx) reserves have soared in FY24 so far after declining in FY23, reflecting the Reserve Bank of India’s strategy to build them up for a rainy day. By shoring up the reserves, the central bank is trying to insulate the country from external shocks arising from volatile energy prices and supply […]
India Inc mop-up via IPO rises 19% to ₹61,000 crore in FY24
[ad_1] The funds mobilised by India Inc through the IPO route in this financial year was up 19 per cent to ₹61,000 crore compared to ₹52,116 crore raised in FY23. Also read:Why India Inc is slow to adopt AI tech However, excluding the mega LIC IPO of ₹21,000 crore in May 2022, the mop-up increased […]
Force Motors exiting tractor business to focus on core segments
[ad_1] Force Motors Ltd board has decided to exit the tractor business, consisting of manufacturing and dealing in agricultural tractors, from the product portfolio of the company with effect from March 31, 2024. The company, under its product rationalisation programme, has decided to focus on its core segments such as shared mobility transportation, last mile […]
Gold imports likely to drop 87% this month on high prices, weak demand
[ad_1] India’s gold imports are set to fall to the lowest in the last three years in view of soaring prices and sharp fall in demand. The bullion industry has been reeling under huge inventory as it imported huge quantity of gold in anticipation of higher demand. The industry had imported 110 tonnes of gold […]
Sensex, Nifty set for weak opening amid mixed global cues
[ad_1] The domestic stock market is likely to open on a negative note on Thursday amid mixed global cues. Gift Nifty at 22,220, compared to Nifty April futures value of 22,331, indicates a gap-down opening. Most equities across the Asia-Pacific region are down in early deals despite the US stocks ending in the green overnight. […]
PN Gadgil Jewellers files papers to raise ₹1,100 cr via IPO
[ad_1] PN Gadgil Jewellers, a leading player in Maharashtra, has filed Draft Red Herring Prospectus with market regulator SEBI to raise ₹1,100 crore. The public offer consists of fresh equity issuance of up to ₹850 crore and an offer for sale of ₹250 crore by promoter-owned SVG Business Trust. The funds raised through the IPO […]
CPAI seeks clarification on RBI circular on currency futures
[ad_1] The Commodity Participants Association of India has sought clarification from the banking regulator RBI whether clients with only underlying exposure will be allowed to trade in currency futures trading from April 5 and if so all the open positions need to be squared off before the deadline. In January, RBI had issued a circular […]
Ujjivan Small Finance partners with Veefin Solutions for MSME growth
[ad_1] Ujjivan Small Finance Bank has partnered with Veefin Solutions Ltd to enhance supply chain finance offerings for MSMEs, addressing the sector’s working capital needs. Ujjivan SFB said that by leveraging Veefin’s platform, it aims to provide end-to-end solutions, bridging the credit gap in the MSME sector and fostering inclusive growth. “We are happy to […]
India’s carabeef production, exports to increase in 2024, says USDA’s Post
[ad_1] India’s buffalo meat (carabeef) production and exports are set to increase in 2024, the New Delhi Post of the US Department of Agriculture’s Foreign Agricultural Service has said. In its report for the 2024 market year (January-December), the Post estimated buffalo meat consumption at 2.97 million tonnes (mt) in 2024 against 2.92 mt in […]
A ‘symphony’ of young Chinese aspirations behind gold’s rise to record
[ad_1] A hidden Chinese hand is behind gold’s current run to a record high apart from hopes of US Fed’s interest rates cut, weak dollar and geopolitical tensions. Gold soared to a record $2,222.49 an ounce earlier this week, before settling at $2,170 during the weekend. Sample this. A small jewellery shop in Shuibei Jewelry […]