Posts in category Business Standard
Reserve Bank of India sets sovereign gold bond issue price at Rs 6,199/gram (15-12-2023)
The Reserve Bank of India (RBI) on Friday announced that the issue price for the next tranche of Sovereign Gold Bond has been fixed at Rs 6,199 per gram and will open for subscription on December 18 for five days.
The Sovereign Gold Bond (SGB) Scheme 2023-24 - Series III will be open for subscription during December 1822, 2023.
The SGBs will be sold through scheduled commercial banks (except small finance banks, payment banks and regional rural banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices, National Stock Exchange of India Limited and Bombay Stock Exchange Limited.
In a statement, the RBI said the nominal value of the bond based on the simple average closing price for gold of 999 purity works out to Rs 6,199 per gram.
The central government, in consultation with the Reserve Bank, has also decided to offer a discount of Rs 50 per gram less than the nominal value to those investors applying online and
Anugrah Stock & Broking case: SAT quashes Edelweiss Custodial appeal (15-12-2023)
SAT has upheld the order by the committee
US Federal Reserve pivot helps markets log seventh weekly advance (15-12-2023)
A dovish pivot by the US Federal Reserve and a sharp retreat in bond yields spurred risk appetite across the globe
Nifty IT logs biggest two-day gain since July 2020; Sensex soars past 71K (15-12-2023)
Bellwether stocks Tata Consultancy Services, Infosys, and HCL Technologies each witnessed a 5 per cent jump on Friday, accounting for over half of the market gains
Rupee rises to near 3-month high of 83 against US dollar amid stocks rally (15-12-2023)
The Indian currency had settled at 83.33 a dollar on Thursday
India’s forex reserves jump $2.816 bn to $606.859 bn, shows RBI data (15-12-2023)
India's forex reserves jumped USD 2.816 billion to USD 606.859 billion in the week ended December 8, the Reserve Bank of India (RBI) said on Friday.
In the previous reporting week, the overall reserves had risen USD 6.107 billion to USD 604.042 billion.
It can be noted that in October 2021, the country's forex kitty had reached an all-time high of USD 645 billion.
The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year.
For the week ended December 8, the foreign currency assets -- a major component of the reserves -- increased by USD 3.089 billion to USD 536.699 billion, the data said.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Gold reserves were down USD 199 million to USD 47.13 billion during the week, the RBI said.
The Special Drawing Ri
Crypto wrap: US Fed’s commentary on rate cuts in 2024 keeps market volatile (15-12-2023)
Cryptocurrency news: The outlook for 2024 continues to remain positive, mainly on the back of Bitcoin ETFs
Azad Engineering IPO opens on Dec 20, price band set at Rs 499-524 a share (15-12-2023)
Azad Engineering Ltd on Friday said it has fixed a price band of Rs 499-524 a share for its Rs 740 crore initial public offering (IPO).
The issue would open for public subscription during December 20-22 and the anchor book will open for a day on December 19, the company announced.
The Hyderabad-based firm's IPO comprises a fresh issue of up to Rs 240 crore and an Offer For Sale (OFS) of equity shares aggregating up to Rs 500 crore by a promoter and investors.
The OFS consists of the sale of equity shares aggregating up to Rs 170 crore by promoter Rakesh Chopdar, Rs 280 crore by Piramal Structured Credit Opportunities Fund, and Rs 50 crore by DMI Finance.
Proceeds from the fresh issue will be used for funding capital expenditure of the company, payment of debt, and general corporate purposes.
Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors, and the remaining 15 per cent for non-institutional buyers.
Investors can bid fo
Texmaco Rail surges 10% on order win worth Rs 1,374 cr from Railway Board (15-12-2023)
The Ministry of Railways (Railway Board) has awarded an order to the company for manufacture and supply of 3,400 BOXNS wagons
Stocks to Watch: PVR Inox, Hero Moto, Jupiter Wagon, Texrail, eYantra, Ami (15-12-2023)
Stocks to Watch on December 15, 2023: eYantra has received a staffing service order worth $900,000 from Nvidia; Plenty Pvt Group & Multiples Pvt Group may sell 2.3% stake in PVR Inox