India’s forex reserves rose by $2.908 billion to $564.06 billion for the week ended on December 9, according to the Reserve Bank data released on Friday. In the previous reporting week, the overall reserves had soared by $11 billion to $561.16 billion. This is the fifth consecutive week of an increase in the reserves.
Posts tagged Rediff
Investors become poorer by Rs 5.78 lakh cr in two days (16-12-2022)
Investors’ wealth tumbled over Rs 5.78 lakh crore in two days of market fall amid a weak trend in global markets after a host of central banks hiked interest rates and gave hawkish commentary. The 30-share BSE Sensex declined 461.22 points or 0.75 per cent to settle at 61,337.81 on Friday. In the previous trade, the BSE benchmark had tanked 878.88 points or 1.40 per cent to settle at 61,799.03.
Air India pilots warn of non-co-operation (16-12-2022)
Pilots working with Air India have warned of non-co-operation if restoration of pre-Covid overtime allowance is delayed, and if other practices they say are ‘discriminatory’ continues. “We cannot assure that our members will undertake flying duties exceeding 70 hours a month. Any coercive action by the management will lead to industrial action to safeguard flight safety and well-being of our members,” the Indian Commercial Pilots Association and the Indian Pilots Guild said in a joint letter to Air India’s management on Tuesday.
Markets end in red; Sensex tanks 461 points (16-12-2022)
Equity benchmarks Sensex and Nifty declined nearly 1 per cent on Friday, in tandem with a weak trend in overseas markets amid hawkish tone of global central banks. The 30-share BSE Sensex fell 461.22 points or 0.75 per cent to settle at 61,337.81. During the day, it tumbled 506.5 points or 0.81 per cent to 61,292.53.
HUL set for health and wellbeing foray (16-12-2022)
Hindustan Unilever (HUL) is set to enter India’s health and wellbeing category by acquiring stakes in two companies in this space. HUL on Thursday announced buying a majority stake in Zywie Ventures, which sells plant-based and clean-label consumer wellness brand under the name OZiva, for Rs 264.28 crore. It will also indirectly acquire its subsidiary Zenherb Labs. In another transaction, the owner of Horlicks will take up a 19.8 per cent stake in Nutritionalab, which houses its products under the brand name Wellbeing Nutrition, for Rs 70 crore.
Should you book profit in rail stocks? (16-12-2022)
The dream-run in railway stocks may soon run out of steam, caution analysts. The rally, which has lasted nearly a year, may meet time-wise correction post the Union Budget announcements as investors begin scalping profits. “There is going to be a build-up in expectations for the sector from the Union Budget, which is still two-odd months away.
Windfall profit tax on crude, diesel cut (16-12-2022)
The government has slashed the windfall profit tax levied on domestically-produced crude oil as well as on export of diesel and ATF following a drop in global oil prices, according to an official order. The levy on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) has been cut steeply to Rs 1,700 per tonne from Rs 4,900, the order dated December 15 said. Crude oil pumped out of the ground is refined and converted into fuel like petrol, diesel and aviation turbine fuel (ATF).
FTX Failure: Lessons To Be Learnt (16-12-2022)
Damage from new shenanigans can be contained if regulators move quickly when something does not smell right, counsels Debashis Basu.
FTX Failure: Lessons To Be Learnt (16-12-2022)
Damage from new shenanigans can be contained if regulators move quickly when something does not smell right, counsels Debashis Basu.
Exports record flat growth; trade deficit widens (15-12-2022)
India’s exports recorded a flat growth of 0.59 per cent to $31.99 billion in November, even as trade deficit widened to $23.89 billion during the month, according to the data released by the government on Thursday. Exports stood at $31.8 billion in November last year. Imports rose by 5.37 per cent to $55.88 billion in November as compared to $53.03 billion in the corresponding month a year ago, the data showed. During April-November 2022, exports rose by 11 per cent to $295.26 billion as against $265.77 billion in the same month last year.