Rupee hopes hinge on FII
By Geeta Parthip | 12 Aug 2004
market is looking hopefully at the only positive news
to come for now, the foreign funds inflow on account
of Tata Consultancy Services' (TCS) public offering.
Other than this everything is adding to gloom: rising
inflation to 7.51, surging oil prices, poor economic
reforms, depleting dollar reserves. TCS (a Tata company)
is one of India's top software exporters. It raised
Rs 5420 crore in the IPO which is the largest ever in
the rupee was quoted at 46.31 per dollar close to its
previous close. RBI intervention is another determining
factor that is keeping the rupee from depreciating and
reflecting its true value at the moment.
US budget deficit widened to $396 billion last month.
On a monthly basis, the deficit increased by $69.2 billion.
Revenues increased 8.8 per cent, while spending increased
15 per cent. More specifically, military costs accounted
for the biggest dollar increase in spending. US Treasury
auction received moderate demand - the government needs
to continue to sell debt in order to fund the deficit.
expected, the euro extended yesterday's losses against
the Bank of England signalled that their tightening
cycle could be coming to an end. The central bank has
raised rates by 125bp indicating the economy is being
slowed down. There are expectations of one or two more
rate hikes soon. The sterling is currently ranging around
The yen, now at 110.80 per dollar is falling. Japan's trade surplus increased while the current account surplus surged 31.9 per cent to a record high of ¥9.64 trillion. Mainly attributed to falling Japanese exports to the US.
The Rise and Rise of HDFC Bank
03 Jul 2023
HDFC, which surged ahead of global majors like HSBC Holdings Plc and Citigroup Inc and left Indian peers like State Bank of India and ICICI Bank in market capitalisation, now ranks fourth largest among the world’s most valuable banks, after JPMorgan Chase & Co, Industrial and Commercial Bank of China Ltd and Bank of America Corp
India’s Millet Revolution To Enrich Global Food Basket
02 Apr 2023
Millets, a healthier and cheaper substitute to wheat and rice, are indigenous to many parts of the world, especially in the semiarid tropics of Asia and Africa, and offers a big scope for expanding production and consumption in the foodgrain deficient African continent
Market predator Hindenburg preys on Adani stock
06 Mar 2023
Almost a month after the damning report of short-seller Hindenburg Research on the Adani Group that claimed that the seven stocks within the group were about 85 per cent overvalued, one of the group's stocks, Adani Total Gas, closed at Rs835 on the BSE, down nearly 79 per cent from its 24 January level, almost close to reaching that valuation