Category: BUSINESS

The rupee appreciated by 15 paise to 74.29 against the US dollar in opening trade on Thursday, even as the domestic equity market was trading with significant losses. At the interbank foreign exchange, the rupee opened at 74.43 against the American dollar, then inched higher to 74.29, registering a rise of 15 paise from the last close. In the previous session, the rupee settled at 74.44 against the greenback. The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.02 per cent higher at…

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Equity benchmark Sensex declined by more than 200 points in opening trade on Wednesday due to losses in IT and banking shares amid weak global trends. The 30-share barometer dropped by 208.38 points or 0.34 per cent to 60,546.48 in opening trade. The broader NSE Nifty declined by 84.95 points or 0.47 per cent to 18,028.10 as 38 of its constituents were trading in the red. Among major Sensex losers, Infosys dropped by 1.7 per cent, Wipro by 1.41 per cent, Tech Mahindra by 1.07 per cent, TCS by 0.77…

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India has 50 startups with the potential to achieve the coveted unicorn’ status in 2022 and by the end of the year, the list of the new-age companies valued at over USD 1 billion will be at least 100, a report by a consultancy firm said on Monday. In 2021, which witnessed a huge spike in company valuations in the listed and unlisted space driven by ample liquidity, according to some watchers, India added 43 startups to the list and the number of unicorns shot up to 68 by the…

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Equity benchmark Sensex tumbled over 400 points in opening trade on Friday, tracking heavy selling pressure across counters amid a negative trend in global markets. The BSE index was trading 434.59 points or 0.71 per cent lower at 60,800.71 in early trade. Likewise, the Nifty declined 111.10 points or 0.61 per cent to 18,146.70. HCL Tech was the top loser in the Sensex pack, shedding 2.49 per cent, followed by Asian Paints, HDFC, Axis Bank, Wipro, HUL and Tech Mahindra. On the other hand, Reliance Industries, Maruti, Titan and Bajaj…

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Continuing its winning run for the third consecutive session, the BSE benchmark Sensex added another 221 points to revisit the 60,500-level on Tuesday, propped up by buying mainly in IT and financial shares. After early hiccups, the 30-share benchmark remained poised throughout the session and went on to hit the day’s high of 60,689.25. It finally ended 221.26 points or 0.37 per cent higher at 60,616.89. Likewise, the NSE Nifty gained 52.45 points or 0.29 per cent to finish at 18,055.75. HCL Tech topped the Sensex gainers’ chart with a…

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Billionaire Gautam Adani’s logistics-to-energy conglomerate has set up a new subsidiary, ANIL to undertake green hydrogen projects, generation of low carbon electricity and manufacture of wind turbines, solar modules and batteries as it looks to become the world’s largest renewable energy company and produce the cheapest hydrogen. Adani had in November last year stated that his group will invest USD 70 billion in the new energy space of the next decade. And now the company has incorporated a wholly-owned subsidiary, Adani New Industries Ltd (ANIL), its flagship Adani Enterprises Ltd…

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Drugmaker Lupin on Friday said it has launched antiviral medication Molnupiravir under the brand name Molnulup in the country for the treatment of COVID-19. Molnupiravir has been given emergency use authorisation by the Drug Controller General of India (DCGI) for treatment of adult COVID-19 patients who have a high risk of progression of the disease, including hospitalisation. “The approval for Molnulup is timely as India is again experiencing an upward spike in COVID-19 incidences. In the past two years since COVID-19 has emerged, there is a need for an oral…

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Equity benchmark Sensex declined by more than 150 points in early trade on Friday, tracking losses in index majors Reliance Industries, HDFC twins and TCS amid a negative trend in global markets. The 30-share index declined by 186.36 points or 0.32 per cent to 58,620.77 in opening trade. Similarly, the Nifty slipped 46.65 points or 0.27 per cent to 17,470.20. Tech Mahindra was the top loser in the Sensex pack, shedding around 1 per cent, followed by Axis Bank, Reliance Industries, Titan and HCL Tech. On the other hand, Asian…

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 Equity benchmark Sensex declined by more than 150 points in early trade on Friday, tracking losses in index majors Reliance Industries, HDFC twins and TCS amid a negative trend in global markets. The 30-share index declined by 186.36 points or 0.32 per cent to 58,620.77 in opening trade. Similarly, the Nifty slipped 46.65 points or 0.27 per cent to 17,470.20. Tech Mahindra was the top loser in the Sensex pack, shedding around 1 per cent, followed by Axis Bank, Reliance Industries, Titan and HCL Tech. On the other hand, Asian…

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Jammu and Kashmir administration has announced detailed austerity measures to promote fiscal discipline and ensure a balanced pace of expenditure without restricting operational efficiency. Financial Commissioner (additional chief secretary) in the Finance Department Atal Dulloo issued the guidelines in a three-page order addressed to government departments and autonomous bodies funded by the government and asked the administrative secretaries to ensure compliance with the measures. During the last quarter of the current financial year, the expenditure should be limited to 30 per cent of budget allocation and in the month of…

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