The rupee on Thursday hit a fresh all-time low of 70.32 against the US dollar in opening deals, which does not concern former Reserve Bank of India (RBI) governor Raghuram Rajan too much.
Why rupee is falling: The Indian rupee slumped to a record low of 70.32 against the US dollar in opening deals on Thursday, plunging nearly 43 paise from its Tuesday’s close at 69.89 against the American currency.
Amid concerns on falling rupee, rising crude oil prices, inflation, MSP hike, NPAs and trade war, India Ratings revised country’s GDP growth in FY19 to 7.2 percent from earlier projection of 7.4 percent.
Kotak Mahindra Bank shares tank 3.5% after RBI setback on stake reduction; should you buy or sell stock?Written by Wealthbuilder Team
Shares of Uday Kotak-run Kotak Mahindra Bank tanked by nearly 3.5% on Thursday, after India’s apex bank RBI notified on Tuesday that the bank’s preferential issue does not meet its dilution norms.
Shares of four companies – Bajaj Finance, Bajaj Finserv, GAIL (India) and Infosys – from the Nifty 50 index hit their respective new high on the National Stock Exchange (NSE) on Thursday in otherwise range-bound market.
The launch of the much-delayed India Post Payments Bank (IPPB) promises to be a grand affair. Prime Minister Narendra Modi will do the honours in Delhi’s Talkatora stadium along with Communications Minister Manoj Sinha on August 21.
Heavy rains continued to pound Kerala, in the worst floods in a century. The death toll rose to 39 since Wednesday, according to local reports.
Smart rebound from the lows of the goods and services tax (GST) implementation helped companies post the sharpest net profit growth in nine quarters during the three months ended June, an analysis of earnings data showed.
Blackstone Group LP is in talks to buy a stake in the loyalty program of Jet Airways India Ltd., the troubled Indian carrier that’s exploring options to raise cash, people with knowledge of the matter said.
Vice President M Venkaiah Naidu visited AIIMS on Thursday morning to enquire about the condition of former prime minister Atal Bihari Vajpayee,