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September 2, 2024 New Delhi, India USDINR Today The Indian Rupee (INR) lost ground on Monday, snapping a two-day winning streak during the early European session. The currency’s decline was driven by stronger USD demand, as the INR became the second-worst-performing Asian currency in August, primarily due to state-run banks’ robust USD buying. Key Market…
September 2, 2024 New Delhi, India Gala Precision Engineering’s Initial Public Offering (IPO) is now open for subscription from September 2 to September 4, 2024. The company has set the IPO price range between ₹503 to ₹529 per equity share, with a face value of ₹10 each. Anchor investors have contributed ₹50.29 crores, showing strong…
September 2, 2024 New Delhi, India Currency Market Analysis USDINR The Rupee strengthened, tracking gains in Asian peers and expectations of MSCI-related inflows. Fitch Ratings affirmed India’s long-term ‘BBB-‘ rating with a stable outlook. Federal Reserve Chair Jerome Powell indicated that further labor market cooling would be unwelcome, though the Fed is ready to cut…
August 31, 2024 New Delhi, India Gold Prices Gold prices fell below $2,500 on Friday, marking the second day this week under the key level, as the latest US economic data fueled expectations of a Federal Reserve interest rate cut in September. Gold (XAU/USD) was trading at $2,497, down over 0.90%, after reaching a high…
August 30, 2024 New Delhi, India Stock Market Today Indian stock indices Sensex and Nifty ended at all-time highs for the second consecutive day on Friday, driven by positive cues from regional markets and U.S. economic data that eased growth concerns. Key Market Highlights: Sensex Performance: Closed 231.16 points higher, up 0.28%, at 82,365.77. Hit…
August 30, 2024 New Delhi, India Nomura Holdings plans to hire 30-35 wealth management bankers over the next two years across its key Asian offices in Hong Kong and Singapore, and in Dubai, according to a report by Reuters on August 30. This move marks a significant expansion effort aimed at increasing the bank’s wealth…
August 30, 2024 New Delhi, India ECOS Mobility IPO The initial public offering (IPO) of ECOS (India) Mobility & Hospitality Limited, which launched on 28th August 2024, is set to close for bidding today, 30th August 2024. The public issue, valued at ₹601.20 crore, has a price band set between ₹318 to ₹334 per equity…
August 30, 2024 New Delhi, India Baazar Style Retail IPO Baazar Style Retail, a value fashion retailer backed by Rekha Jhunjhunwala, launched its Initial Public Offering (IPO) today, August 30, aiming to raise ₹250 crores from anchor investors. The IPO is set to close on Tuesday, September 3, with shares priced between ₹370-389 each. Earlier…
August 30, 2024 New Delhi, India Vistara-Air India Merger Singapore Airlines announced on Friday that it has received Foreign Direct Investment (FDI) approval from the Indian government for the proposed merger of Vistara with Air India. This merger will create one of the world’s largest airline groups, with Singapore Airlines acquiring a 25.1% stake in…
August 30, 2024 New Delhi, India Moody: India’s GDP Growth Forecast Moody’s Ratings has revised its forecast for India’s GDP growth for 2024 to 7.2%, up from the earlier projection of 6.8%. This upward revision is attributed to stronger private consumption that is boosting aggregate demand in the economy. According to Moody’s, household consumption is…
