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The 2023 Akshaya Tritiya has turned out to be a good one for jewellery retailers and consumers, despite high gold prices in terms of volume. Initial indications point to an increase in overall jewellery sales volume this year.  “Jewellery sales are estimated to have increased by over 40 per cent in terms of the number […]

Eight of the 10 most valued firms faced a combined erosion of ₹1,17,493.78 crore in market valuation in an overall weak trend in equities last week, with Infosys taking the biggest hit. Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, and ICICI Bank were among the eight companies that suffered a decline in their valuation. […]

Notwithstanding the volatile equity markets, the net flows into the mutual fund industry through Systematic Investment plan increased 77 per cent in the year ended March to ₹84,224 crore against ₹47,619 crore logged in the previous financial year. In fact, the net inflows accounted for 54 per cent of highest ever gross SIP inflow of […]

HDFC Asset Management Company has received final SEBI approval for change in ownership after the merger of HDFC with HDFC Bank. HDFC AMC was promoted by HDFC Investments and HDFC Holdings, wholly owned subsidiaries of Housing Development Finance Corporation. As per the proposed merger, both the subsidiaries will be merged with HDFC. Following this, HDFC […]

The rupee gained 1 paisa to 82.16 against the US dollar in early trade on Friday, tracking a weak greenback against major currencies and positive sentiment in the domestic equities market. Forex traders said the downward movement of crude oil prices also supported the local unit. At the interbank foreign exchange, the domestic unit opened […]

Rajesh Mokashi, former MD & CEO of CARE Ratings, has been barred by market regulator SEBI for two years from associating with stock market-related entities after it was found that he was exercising extrajudicial pressure to manipulate credit ratings that helped top corporate lure investors to raise thousands of crores. SEBI has accused Mokashi of […]

ICICI Securities (I-Sec) has reported a y-o-y drop of nearly 23 per cent in its consolidated net profit at ₹262.68 crore for the quarter ended March 2023. A year ago, it had posted a PAT of ₹340.29 crore. Total Income for Q4 FY23 to dipped, albeit marginally, to ₹884.78 crore (₹891.67 crore). The drop in […]

The Solvent Extractors’ Association (SEA) of India has said the confusion over the TRQ (tariff rate quota) for the import of crude sunflower oil and soyabean oil may impact edible oil availability in the market. In his monthly letter to the members of SEA of India on Wednesday, Ajay Jhunjhunwala, President of SEA of India, […]

The two-decades old stigma that the foreign portfolio investors (FPIs) decided India’s market direction in the off-shore tax haven is likely to be washed away as the trading of the country’s most popular share index Nifty will be discontinued on the Singapore Stock Exchange (SGX) from July and instead will be launched at the Gujarat International Finance-Tec […]

3i Infotech has received a Letter of Acceptance from Indian Oil Corporation Limited (IOCL) pertaining to Managed Services for the Data Center IT Infrastructure as part of its contract renewal in the new financial year. The total contract value is at ₹16.29 crore for 3 years. Kilburn Engineering has executed an MoU with Idreco S.A. (a […]