A strong currency helps in fighting some of the import-led inflation. Reserve Bank of India Governor Raghuram Rajan’s assertion that the rupee was fairly valued might have its roots in the economic reality that the country is facing and not necessarily taking into consideration the numbers put forward by indices that measure the domestic currency’s strength. The Real Effective Exchange Rate shows that the rupee should depreciate sharply, but that won’t be helpful for ... Rediff.com, 6 days ago
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He is the chief executive and managing director of the second largest private sector lender HDFC Bank Aditya Puri, the chief executive and managing director of the second largest private sector lender HDFC Bank, has been ranked the best banking CEO in Asia by the investor community. The bank’s chief financial officer Sashi Jagdishan has been ranked the best CFO. HDFC Bank was also ranked the best IR company, thereby making it the most honoured one in the Institutional Investor magazine.Rediff.com, 2 weeks ago
Brexit will likely put brakes on the UK’s growth prospects and hamper London’s position as a premier international financial services market, says A V Rajwade. The UK is currently the fastest growing major economy in the European Union (EU). After the result of the June 23 referendum, and the uncertainties created by Brexit, it is questionable how long this growth momentum will last. Most economic analysts, including the International Monetary Fund, had earlier forecast adverse ...Rediff.com, 2 weeks ago
Benchmark indices ended near day’s high after the Cabinet on Wednesday approved the recommendations of the 7th Pay Commission. Investors’ sentiments were further boosted due to recovery in global stocks after near term Brexit concerns eased. The S&P BSE Sensex rose 216 points to end at 26,740 and the Nifty50 gained 76 points to close at 8,204. Among broader markets, BSE Midcap and Smallcap indices surged between 0.9%-1.2%, outperforming the benchmark indices. Commenting ...Rediff.com, 3 weeks ago
After witnessing lacklustre trades in the past two sessions, markets shot up in today’s trade after Britons commenced voting on a referendum on whether Britain should remain a part of the 28-nation European Union. Meanwhile, strength in the European cues and gain in the Indian rupee aided the rally. Participants will watch out for the Brexit poll outcome in the early morning trades tomorrow. The S&P BSE Sensex gained 237 points to close at 27,002 and the Nifty50 surged 67 ...Rediff.com, 1 month ago
After a dismal trading session yesterday, markets bounced back today owing to a spectacular rally in bank stocks after the Rajya Sabha passed the Bankruptcy Bill. In the banking pack, ICICI Bank, SBI, IndusInd Bank, HDFC Bank and Bank of Baroda surged between 0.2%-4% to the passage of Bankruptcy Bill, which aims to complete the insolvency process of companies in 180 days, helping lenders in faster recovery of their loans. The S&P BSE Sensex surged 193 points to close at 25,790 and ...Rediff.com, 2 months ago
Benchmark share indices ended lower, amid weak cues from Japan, after disappointing earnings from major corporates and a private survey showed slow down in April manufacturing output. The S&P BSE Sensex ended down 170 points at 25,437 and the Nifty ended down 44 points at 7,806. In the broader market, the BSE Midcap index ended up 1.1% and Smallcap index gained 0.4%. Market breadth was negative with 1294 losers and 1165 gainers on the BSE. "Weak global cues especially from the ...Rediff.com, 2 months ago Sensex surges 100 points on firm global cues Rediff.com, 1 month ago Global meltdown, oil woes drag Sensex 239 points lower; FOMC eyed Rediff.com, 1 month ago Markets make handsome gains on RBI's stance, global cues Rediff.com, 1 month ago
The next round of bad news could come from Europe, where banks in a number of economies such as Italy, Portugal and Greece are sitting on mountains of bad loans, say Abheek Barua & Bidisha Ganguly. You can accuse us of being “crisis chasers”, choosing to write our column on the next possible flashpoint in the global economy instead of cheering the bull rampage in financial markets, both in India and the rest of the world. But the fact is, in this ...Rediff.com, 8 hours ago
The Nifty ended at 52-week closing high led by banks after a meeting of G20 finance ministers came to a consensus to support global growth amid growing uncertainty post the Britain's exit from the European Union. State-owned oil firms gained on the back of government's plans to merge all into a single behemoth. The S&P BSE Sensex settled 292 points higher to close at 28,095 and the Nifty50 ended up 94 points at 8,636. In the broader market, the BSE Midcap and Smallcap indices ended up 1% ...Rediff.com, 9 hours ago
Adequate dollar supply gave a boost to the local currency Maintaining its upbeat momentum, the rupee, on Friday, firmed up by another 9 paise to end at a fresh one-week high of 67.08 against the US dollar amid sustained selling of the American currency by banks and exporters. Robust capital inflows along with a smart rebound in domestic equities and unwinding of some dollar positions by speculators further supported the sentiment. The domestic unit gained 9 paise, or 0.13 per cent, at the ...Rediff.com, 3 days ago
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