Category: BUSINESS

The benchmark BSE Sensex rose over 200 points on sustained buying in key frontline counters led by metal, healthcare, basic material, telecom, banks and finance stocks. Sentiments bolstered as Asian shares recovered on ease in worries over aggressive rate hike this year on comments from US Federal Reserve officials. The BSE Sensex rose 227.56 points, or 0.67 per cent, to 34,047.06 at 1200 Hrs. The broader Nifty 50 index also trading above the key 10,400-level at 10,461.80, a gain of 79.10 points, or 0.76 per cent. Major gainers were Tata…

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Mumbai, Feb 23 (DIN NEWS) In line with domestic equities, the rupee today regained strength to close at 64.73 a dollar, advancing by a good 31 paise, amid indication that the US Federal Reserve may go slow on rate hikes. Besides, a heavy dollar unwinding by traders and exporters supported the rupee recovery. Global currency and financial markets heaved a sigh of relief after a Fed official said in an interview that raising interest rates too quickly could slow the economy too much. The latest Fed policy-meeting minutes had cemented expectations…

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Mumbai, Feb 23 (DIN NEWS) The US dollar ended sharply cheaper against the rupee at 64.73/74 per unit but the pound sterling finished higher at Rs 90.25/27 per pound at the close of the Interbank Foreign Exchange (forex) market here today. Following are the Interbank forex and RBI rates: (In Rs per unit) Unit Interbank RBI Reference US Dollar 64.73/74 US Dollar Rs 64.8227 Pound Sterling 90.25/27 Euro Rs 79.7643 Euro 79.59/61 Japanese Yen (100) 60.

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Shares of Gitanjali Gems continued to face selling pressure for the seventh straight session today, falling 58.5 per cent in the past one week. The stock tanked 4.92 per cent to Rs 26.10 — its lowest trading permissible limit for the day — on BSE today. On NSE, shares of the company lost 4.92 per cent to hit a low of Rs 26.05. In seven days, the stock has plunged 58.5 per cent, eroding Rs 435.41 crore from its market capitalisation. On February 14, Punjab National Bank (PNB) disclosed that…

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Extending its losses for the third session, the rupee weakened by 8 paise to trade at fresh 3-month low of 64.87 against the US dollar in opening trade ahead of RBI’s minutes for the latest policy meeting due later on Wednesday. Besides heavy demand for the American currency from importers, persistent outflows by foreign funds and the dollar’s strength against other currencies overseas weighed on the domestic unit, forex dealers said. A higher opening of the equity market on Wednesday, however, capped the fall. The benchmark BSE Sensex rose 207.77…

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The benchmark BSE Sensex opened 208 points higher on Wednesday, snapping its three-day falling streak, as investors and domestic institutions widened their bets amid firm Asian cues. Short-covering by speculators ahead of February F&O expiry tomorrow added to the upward move. NSE Nifty also reclaimed the 10,400-mark rising 65.70 points, or 0.63 per cent, to 10,426.10. The BSE 30-share barometer gained 207.77 points, or 0.61 per cent, to 33,911.36. The gauge had lost 593.88 points in the previous three sessions. Sectoral indices led by IT, Teck, consumer durables and realty…

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Food Minister Ram Vilas Paswan today reviewed the functioning of the public distribution system (PDS) in 13 most backward districts of Bihar. The government is focusing on transforming 115 most backward districts in the country by ensuring the benefits of the schemes reach to them. In November last year, the Niti Ayog had appointed additional secretary and joint secretary rank officials as prabhari or in-charge to coordinate between the efforts of the Centre and the concerned states. In the first meeting with Prabhari, Paswan took inputs from them to prepare…

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The Enforcement Directorate (ED) today conducted search operations at Gitanjali Gems stores located in shopping malls here and at Rajarhat, in connection with the Rs 11,400-crore Punjab National Bank fraud. The name of Mehul Choksi, the owner of the stores, features in the multi-crore rupees fraud. A senior ED official told PTI that its officers conducted searches at five malls which house Gitanjali Gems stores, including in Salt Lake and Rajarhat. PNB has detected the scam in which billionaire diamond merchant Nirav Modi allegedly acquired fraudulent letters of undertaking (LoUs)…

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