UK pound is staying cautiously lower ahead of UK retail price inflation data due later in the day that is likely to provide fresh momentum to the currency pair. Yesterday, UK GDP data confirmed technical recession that weighed down the pair. GBPUSD is currently quoting at $1.2583, down 0.12% on the day. The pair is however staying well supported amid a sharp overnight drop in dollar overseas tracking slide in US treasury yields after weaker than expected US retail sales data. US retail sales for January saw a decrease of -0.8% month-over-month, falling short of both the previous month’s figures and the estimated -0.1% contraction. The dollar index that measures the greenback against a basket of currencies recovered some lost ground and was trading at 104.32 today after having fallen over half a percent yesterday, capping upside for the pair. The 10-year benchmark treasury yields also dipped to around 4.22%. Meanwhile, GBPINR futures on the NSE are also staying choppy although holding
Posts in category Business Standard
Indian Hume Pipe gains after bagging EPC project worth Rs 495 cr (16-02-2024)
Indian Hume Pipe rose 1.05% to Rs 256.20 after the company received letter of intent from Tapi Irrigation Development Corporation Jalgaon, Maharashtra for engineering, procurement and construction (EPC) project worth Rs 495.04 crore.
Indian Hume Pipe gains after bagging EPC project worth Rs 495 cr (16-02-2024)
Indian Hume Pipe rose 1.05% to Rs 256.20 after the company received letter of intent from Tapi Irrigation Development Corporation Jalgaon, Maharashtra for engineering, procurement and construction (EPC) project worth Rs 495.04 crore.
Volumes jump at Data Patterns (India) Ltd counter (16-02-2024)
Data Patterns (India) Ltd saw volume of 60.82 lakh shares by 10:47 IST on BSE, a 868.19 fold spurt over two-week average daily volume of 7005 shares
Happy Forgings secures order worth Rs 400 crore (16-02-2024)
Happy Forgings announced that it has bagged an order for supply of fully machined components for SUVs for an amount of approximately Rs 400 crore.
TVS Motor hits record high on acquiring 28% stake in IFQM (16-02-2024)
TVS Motor Company rallied 3.61% to Rs 2,168.30 after the company announced that it has acquired 28.57% stake in the Indian Foundation for Quality Management (IFQM) for Rs 2.5 crore.
Winsome Breweries reports standalone net loss of Rs 0.05 crore in the December 2023 quarter (16-02-2024)
Sales reported at Rs 0.35 crore
Syncom Formulations (India) consolidated net profit rises 69.08% in the December 2023 quarter (16-02-2024)
Sales rise 13.52% to Rs 65.14 crore
Venus Remedies consolidated net profit rises 108.21% in the December 2023 quarter (16-02-2024)
Sales rise 22.69% to Rs 143.42 crore
Vipul Organics consolidated net profit rises 900.00% in the December 2023 quarter (16-02-2024)
Sales rise 34.22% to Rs 37.42 crore