The rupee remains overvalued against the currencies of India’s trading partners, even as it hit record lows against the dollar in August and September. According to the Reserve Bank of India’s (RBI) real effective exchange rate (REER) index, the rupee stood at 5.5 per cent above its fair value in August, down from 7.7 per cent in July. This slight easing followed fears of a US recession and the unwinding of yen carry trades, which exerted pressure on the Indian currency.
Posts tagged Rediff
Sebi’s six-step plan may shake up F and O volumes (03-10-2024)
The Securities and Exchange Board of India’s (Sebi’s) six-step plan to curb retail participation in speculative index derivatives may lead to a substantial drop in volumes – potentially by 30-40 per cent. These measures aim to reduce excessive speculation in the futures and options (F and O) segment, where daily turnover often exceeds Rs 500 trillion and retail investors end up on the losing side of the trade more often. Sebi has decided to increase the contract size from Rs 5 lakh to Rs 15 lakh, raising margin requirements and mandating the upfront collection of option premiums from buyers.
Brokerages revise fee as true-to-label norms kick in (03-10-2024)
Leading brokerages have revised their charges with the true-to-label norms by the Securities and Exchange Board of India (Sebi) kicking in from Tuesday.
Saudi oil supply rebound gives India bargaining power (03-10-2024)
A resurgence in Saudi Arabian supplies of crude oil to India coupled with an attack on an Iraqi tanker in August carrying crude to Europe may result in improved bargaining power for India with West Asian and Russian suppliers for winter supplies. Shipments of Saudi oil rebounded in September from August, surging to the highest since March while Russian oil shipments rose marginally as Saudi Arabia tried to claw back market share in Asia, according to industry sources and ship tracking data.
Asset quality key monitorable going ahead for Chola (03-10-2024)
Cholamandalam Investment and Finance’s (Chola) share has yielded one of the best returns in the last month. The company has sustained assets under management (AUM) growth at 7 per cent quarter-on-quarter (Q-o-Q), and 35 per cent year-on-year (Y-o-Y) in Q1FY25. Scaling up of new businesses now contributes to 13 per cent of loans (vs 10 per cent in Q1FY24).
Max Healthcare stock in the pink of health (03-10-2024)
Shares of healthcare services major Max Healthcare Institute have gained over 23 per cent since the start of this month and the stock crossed the Rs 1 trillion mark on September 24. On September 25, it closed 989.85 apiece at the NSE. The gains were cornered on the back of a strong outlook for the sector and aggressive expansion plans for the chain led by acquisitions and organic growth.
Will Nifty’s Bull Run Take A Breather? (03-10-2024)
Technical charts indicate a possibility of a meaningful correction in the upcoming months.
IPO Market Set For Record-Breaking Diwali (03-10-2024)
IPOs worth Rs 50,000 crore including Hyundai, NTPC Green Energy and Swiggy are set to hit the market in late October or early November.
How full-blown Iran-Israel war may hurt India’s trade (02-10-2024)
The escalation of conflict in the West Asian region is expected to push already high logistics costs besides hurting trade in sectors such as oil, electronics and agriculture, according to exporters. They said that insurance costs for exports to the countries directly involved in the war could also go up, which will impact Indian exporters’ working capital. Think tank Global Trade Research Initiative (GTRI) stated that the conflict is already hurting India’s trade with countries like Israel, Jordan, and Lebanon.
13 candidates in fray for PNB top job (02-10-2024)
At least 13 candidates are in the race for the position of managing director and chief executive officer (MD and CEO) of Punjab National Bank (PNB), the second-largest public sector bank (PSB), according to multiple sources familiar with the matter. “Among the candidates, some are executive directors (EDs) and managing directors in major PSBs. “Financial Services Institutions Bureau (FSIB) will conduct the interviews next month,” said a source.