Second stimulus may stop contraction in the economy: EY India report
A second round of fiscal stimulus in the latter part of the financial year may help arrest the strong contractionary momentum in the Indian economy, and a borrowing-based full implementation of Rs 111 lakh crore is needed to restore growth and generate tangible employment, consultancy firm EY India said in its latest edition of Economy […]
Petrol price up 25 paise, diesel 21 paise; rates hiked by Rs 9.12, Rs 11.01 in 3 weeks
Petrol price on Saturday was hiked by 25 paise per litre and diesel by 21 paise, taking the cumulative increase in rates in three weeks to Rs 9.12 and Rs 11.01, respectively. Petrol price in Delhi was hiked to Rs 80.38 per litre from Rs 80.13, while diesel rates were increased to Rs 80.40 a […]
Virus disruption will push rupee to record 80/dollar, says Reliance forex head
Mumbai: The growth shock to India’s economy from the coronavirus pandemic will trigger more weakness in the rupee, dragging it toward an unprecedented 80-per dollar level. That’s the view from Venkat Thiagarajan, who has traded currency markets for 26 years, and most recently served as the head of forex at Reliance Industries Ltd., which runs India’s […]
Rupee rises 5 paise to 76.15 against US dollar in early trade
The rupee appreciated 5 paise to 76.15 against the US dollar in early trade on Monday tracking gains in the domestic equity market and sustained foreign fund inflows. Forex dealers said a weak US dollar against major currencies overseas also helped the domestic unit. However, rising crude prices and fresh spike in coronavirus cases restricted the gains. […]
PHD chamber interacts with Finance Minster, apprises business community’s issues in J&K
Srinagar, 17 June (KNS): The senior leadership of PHD Chamber of Commerce and Industry on Friday interacted with Hon’ble Finance Minister Smt. Nirmala Sitaraman through webinar. The meeting was attended by Mr Baldev Singh Raina, Mr Mushtaq Ahmad Chaya, Mr Rahul Sahai and Mr Rakesh Wazir from J&K. The Hon’ble Minister was conveyed in writing […]
Rupee settles 6 paise lower at 76.20 against US dollar
The rupee settled 6 paise lower at 76.20 (provisional) against the US dollar on Friday as strengthening of the US currency and rising Covid-19 cases weighed on investor sentiment. Forex traders said factors like strengthening US dollar, rising coronavirus cases and border tension between India and China dragged down the local unit, while positive domestic […]
India stocks swing as investors weigh rising Covid cases, China clash
India stocks rose, led by Reliance Industries Ltd., as investors looked beyond the surge in new coronavirus cases and political tensions with China. The S&P BSE Sensex rose 1.3% at 33,926.29 as of 1:49 p.m. in Mumbai, after falling as much as 0.4% earlier in the session. The NSE Nifty 50 Index climbed 1.4%. Reliance […]
Sensex drops 200 points in opening session, Nifty below 9,900
Equity benchmark Sensex dropped over 200 points in early trade on Wednesday dragged by weakness in index-heavyweights HDFC Bank, Reliance Industries and ICICI Bank amid weak cues from Asian peers and persistent foreign fund outflows. After touching a low of 33,332.96, the 30-share index was trading 225.22 points, or 0.67 per cent, lower at 33,380. […]
Jet Fuel Price Hiked By 16.3%; Petrol Up 47 paise, Diesel By 93 Paise
Jet fuel or ATF price on Tuesday was hiked by 16.3 per cent while petrol price was increased by 47 paise per litre and that of diesel by a record 93 paise on the back of firming international oil rates. Aviation turbine fuel (ATF) price was hiked by Rs 5,494.5 per kilolitre (kl), or 16.3 […]
Petrol and diesel prices hiked for ninth day in a row
State-run oil marketing companies (OMCs) on Monday increased the price of petrol and diesel for the ninth consecutive day as they continued to adjust retail rates in line with costs after an 82-day break from rate revision amidst the coronavirus pandemic. Petrol will now cost Rs 76.26 per litre after an increase by 48 paise […]