Author: Anushka Joshi

Officials said the Centre and RBI are taking initiatives to promote capital inflows so the rupee’s decline versus the dollar is steady and gradual. The value of the Indian Rupee has been progressively deteriorating and hitting new lows for a number of days at this point. The current value of the rupee in relation to the dollar is 79.99, which is a new all-time low. To address this challenge, the government of India and the Reserve Bank of India (RBI) have been taking steps to increase the country’s flow of foreign investment capital. Their objective is to maintain a gradual…

According to industry body Nasscom, funding for start-ups decreased by 17% from quarter to quarter, totalling $6 billion from April to June. According to the industry body Nasscom, the amount of money invested in new businesses over the period of April to June decreased by 17% on a quarterly basis to a total of $6 billion (about 47,800 crores). According to the Nasscom quarterly investment factbook on tech start-ups, which was developed in partnership with PGA Labs, contracts also declined by roughly 17 per cent owing to subdued market sentiments. Nevertheless, financing in the growth stage continued to expand despite the…

The price of jet fuel decreased by 2.2% on Saturday due to a drop in worldwide oil prices. This is the second and last rate reduction of the year. Oil marketing companies (OMCs) reduced prices for aviation turbine fuel (ATF) and jet fuel by 2.2% on Saturday (July 16), indicating a drop in international oil prices. According to a notice from state-run retailers, OMCs have lowered the price of ATF from Rs 3,084.94 per kilolitre (kl) to Rs 1,38,147.93 per kilolitre. This is just the second rate cut of the year. Last month, prices had reached an all-time high of…

The annual rate of inflation based on the All-India Wholesale Price Index (WPI) fell to 15.18 percent (Provisional) in June 2022, from a three-decade high of 15.88 percent in May. According to figures released by the commerce ministry on July 14, India’s wholesale price index-based inflation rate reduced to 15.18 percent in June. The tiny decline from the preceding month’s 30-year high of 15.88 percent increases the likelihood that the central bank will raise interest rates again next month. The 15.88 percent WPI inflation rate in May was the highest in at least three decades. Inflation based on the WPI…

The euro has reached parity with the U.S. dollar for the first time in more than two decades, after seeing a quick and severe decline this year. The euro has had a quick and severe decline this year, and it has now, for the first time in more than twenty years, breached a significant threshold. The 12 percent decrease is the consequence of numerous forces, including the conflict in Ukraine, an energy crisis, and the rising possibility that Russia would halt gas shipments and drive the eurozone into recession. Some experts believe that parity may not be the conclusion, but…

On Wednesday, gold prices held steady at a more than nine-month low as the dollar continued to impact metal demand as investors awaited U.S. monthly inflation data On Wednesday (July 13), gold prices held steady at a more than nine-month low as cautious investors awaited monthly US inflation data for clues about the direction the US Federal Reserve’s (Fed) monetary policy might take. After falling to its lowest level since late September at US$1,722.30 earlier, spot gold was up 0.1% at US $1,727.89 (or RM7,659.74) per ounce at 0239 GMT. At $1,725.30, US gold futures remained unchanged. The dollar remained…

The Directorate of Revenue Intelligence (DRI) has uncovered a custom duty of Rs 4,389 crore by smartphone manufacturer Oppo India, according to a statement released by the Ministry of Finance. The offices of Oppo India and the residences of its key executives were searched by DRI. Oppo India has been given a show-cause notice by the Directorate of Revenue Intelligence (DRI), questioning 4,389 crores worth of Custom duty. Moreover, the notification warns that penalties would be imposed on both the firm and its employees and Oppo China in compliance with the Customs Act. The government said that DRI conducted several searches…

Shares of Adani Total Gas reached a new all-time high for the second consecutive session on BSE today, climbing 4.82% intraday to Rs 2,845 from the previous closing of Rs 2,714.15. Shares of Adani Total Gas set a new all-time high on the BSE today for the second trading day in a row, gaining 4.82% throughout the course of the trading day to reach Rs 2,845 from the previous day’s closing price of Rs 2,714.15. Stockholders Dividends Adani Total has decided that the 15th of July will be the record date to determine whether stockholders are eligible for dividends. The…

The Indian rupee struck a new record low against the U.S. dollar on Tuesday, as the U.S. dollar rallied internationally in response to the decline in global equity markets. Rupee Versus Dollar The partly convertible rupee decreased to a record low of 79.66 versus the US dollar on the interbank foreign exchange market. The rupee’s closing value versus the dollar on Tuesday was 79.60 (provisional), up from 79.45 the day before. On Tuesday, the major indices of the Indian equity markets declined by almost one percent due to severe selling pressure in the IT, infra, and banking sectors, as well…

June quarter profits of TCS fell short of market forecasts, and the company’s shares dropped by over 5%, wiping off Rs 55,471.22 Cr from its market value. TCS shares crash post Q1 results. Tata Consultancy Services (TCS) shares tumbled over 5 percent on Monday, erasing Rs 55,471.22 crore off the company’s market capitalization after the company’s June quarter profits fell short of market expectations. TCS stated on Friday that its net profit for the June quarter increased by 5.2% to Rs 9,478 crore, despite annual salary increases and promotions reducing operational profit margins to multi-quarter lows. The share price decreased…