UK pound is hovering around its highest level in over a year against the dollar as investors wait anxiously for Federal Reserve minutes amid rate cut optimism. Moreover, the Bank of Englands (BoE) Governor Andrew Baileys speech at the Jackson Hole Symposium on Friday is expected to provide further insight about BoE interest rate stance amid decelerating pace of inflation in the UK. GBPUSD posted fresh gains to a year high in the previous session and continue to hover around the levels. Currently, the pair is quoting at $1.30. Meanwhile, the dollar index is trading below 102 mark as investor await further cues from the Federal Reserve for clarity on timing and magnitude of interest rate cut. The latest Fed minutes will be released later today while Fed Chair Jerome Powell will speak at the Jackson Hole symposium on Friday.
Posts in category Business Standard
Shriram Properties soars after unveiling brand transformation initiative (21-08-2024)
Shriram Properties (SPL) surged 14.96% to Rs 124.90 after the company unveiled a brand transformation initiative, as part of its ambitious growth strategy.
Shriram Properties’ new initiative sends company’s shares flying over 15% (21-08-2024)
BSE analytics reflect that the company’s shares have sprinted 22 per cent in the last one week, while they have gained 22.77 per cent in the last one month and 63.36 per cent in the last one year
Growth of e-commerce has to be citizen centric. (21-08-2024)
Union Minister of Commerce and Industry Shri Piyush Goyal said that we must ensure that the growth of e-commerce is citizen centric. While attending the launch of a report on ‘Net Impact of E-Commerce on Employment and Consumer Welfare in India’ of Pahle India Foundation as the Chief Guest, the Minister said that the growth of e-commerce must democratize the distribution of benefits amongst the larger section of society. Goyal said that technology is a means to empower, to innovate and means to meet consumer requirements – sometimes more efficiently. But this growth must be in an orderly fashion, he said, adding that in the race for market share, we must not cause disruption for the 100 million small retailers across the country. Goyal underscored the importance of protecting India’s developing economy and supporting those who still need affirmative action.
Nykaa surges 19% on heavy volumes; stock at highest level since Oct 2022 (21-08-2024)
The average trading volumes on the counter jumped over 10-fold with a combined 101.76 million shares or 3.6% of total equity of Nykaa changing hands on the NSE and BSE till 02:44 pm.
ICICI Securities Ltd leads losers in ‘A’ group (21-08-2024)
Torrent Power Ltd, Triveni Turbine Ltd, Newgen Software Technologies Ltd and Vaibhav Global Ltd are among the other losers in the BSE’s ‘A’ group today, 21 August 2024.
Alphabet-backed NBFC Aye Finance to launch Rs 2k cr IPO in a year: Report (21-08-2024)
Focused on small and medium enterprises, Aye Finance has roped in four arrangers for its upcoming IPO
Board of JK Tyre & Industries approves investment in a renewable power company (21-08-2024)
At meeting held on 21 August 2024
MCX, Lupin, TechM, Trent among 5 F&O stocks to Buy ahead of August expiry (21-08-2024)
Granules, MCX, Colgate, Trent, Dr.Reddy’s, Glenmark Pharma, Voltas, Lupin, Tech Mahindra, Coromandel International and Balrampur Chini among F&O stocks are holding a PCR in excess of 1, shows F&O data
Amber Enterprises announces JV with South Korea-based Yujin Machinery (21-08-2024)
AT Railway Sub Systems, wholly owned subsidiary of Sidwal Refrigeration Industries (Sidwal), [the wholly owned material subsidiary of the Company i.e. Amber Enterprises India (Amber)] alongwith Yujin Machinery, a South Korea Based Company has incorporated a Joint Venture Company (JVC) in India, on 20 August 2024, namely Yujin Machinery India.