As unemployment concerns loom, the Federal Reserve weighs the option of reducing interest rates, despite inflation worries. Powell’s unwavering focus on curbing a potential downturn in employment underscores the Fed’s dedication to safeguarding the labor market. This proactive stance toward preserving jobs may serve as a crucial pillar for the economy and could potentially buoy … Read more
As tensions rise amidst increasing sanctions on tech imports from the US and its allies, China has introduced stringent measures in retaliation. The latest guidelines announced by China effectively prohibit the use of Intel and AMD products in computers operating within government networks and systems. As per a report by the Financial Times on Sunday, … Read more
Indian stock exchanges, namely BSE and NSE, observed a day of closure on Monday, March 25, as the nation celebrated the vibrant festival of Holi. This week, trading activity will be limited to only three sessions, as both exchanges will remain shuttered on Friday, March 29, in observance of Good Friday, thus marking a truncated … Read more
In a recent study conducted by the World Inequality Lab, it has been revealed that India’s wealthiest 1 percent now holds the highest concentration of wealth witnessed in over six decades. The study highlights a stark reality: a small fraction of the population commands a significantly larger portion of the country’s wealth. Moreover, it indicates … Read more
In a recent survey conducted by industry body FICCI and banking association Indian Banks’ Association (IBA), it was discovered that public sector banks in India are outperforming their private sector counterparts in managing non-performing assets (NPAs), referring to loans or advances at risk of default. The survey revealed that a significant majority (77 percent) of … Read more
Equity markets and gold prices soared following the announcement from US Fed Chairman Jerome Powell signaling three anticipated interest rate cuts throughout the year, commencing in June. Thursday saw key benchmarks, Sensex and Nifty, kickstart on a positive trajectory, experiencing a notable surge of over one percent each. With a remarkable climb of 540 points, … Read more
Federal Reserve Chair Jerome Powell addressed recent inflation concerns on Wednesday, emphasizing that despite elevated readings, the fundamental narrative of gradually alleviating price pressures remains unchanged in the U.S. The central bank maintained its course for three anticipated interest rate cuts this year, affirming expectations for sustained economic growth. In its latest update, the Fed … Read more
Krishnamurthy Venkata Subramanian, India’s executive director at the International Monetary Fund (IMF), underscored the imperative of sustained 8% growth to effectively address poverty and inequality by generating sufficient employment opportunities. Subramanian’s remarks emphasize the critical link between economic growth and social development. India’s economy exhibited robust performance in the final quarter of 2023, surpassing expectations … Read more
Echoing concerns raised by the Securities and Exchange Board of India (SEBI), the Reserve Bank of India (RBI) has expressed apprehensions regarding the escalating froth observed in the small and midcap segments of the market. In its latest monthly bulletin, the RBI highlighted the prevailing dynamics, noting, “Stocks continue to surge in a robust bull … Read more
In a recent development, Amit Manchanda, who formerly served as the Vice President-Legal and Compliance Officer at Radico Khaitan, has found himself at the center of controversy, being fined a substantial amount of Rs 5 lakh for contravening insider trading regulations. This penalty, imposed by the Securities and Exchange Board of India (Sebi), underscores the … Read more
On March 20, the Sensex and Nifty embarked on a tumultuous journey, navigating through a landscape of fluctuating gains and losses before eventually settling marginally higher. Investors, adopting a cautious stance, found themselves in a state of anticipation as they awaited the much-anticipated policy announcement from the US Federal Reserve. Concurrently, local factors continued to … Read more
A groundbreaking partnership between the JSW Group and MG Motor India is set to revolutionize the automotive industry, promising the launch of a new ‘new energy’ vehicle every three to four months starting September, announced a senior executive. With a monumental investment of $750 million (approximately ₹5,000 crore), the joint venture aims to produce an … Read more
Amidst a significant market downturn, the Nifty Smallcap 250 index has witnessed a substantial decline of over 8 percent, while the Nifty Midcap 150 index has also experienced a downturn of 5 percent over the past month, reflecting a pronounced selloff across the broader market. The recent market correction has instilled apprehension among retail investors, … Read more
Japan’s central bank made a historic move on Tuesday by abandoning its long-standing negative interest rate policy, signaling the start of a gradual retreat from one of the globe’s most assertive monetary easing initiatives. In a significant shift, the Bank of Japan opted to elevate the policy short-term rate from its previous level of -0.1 … Read more
In a recent exchange filing, the Adani Group vehemently refutes media assertions regarding an expanded investigation by US prosecutors into alleged bribery activities within India. The group adamantly rejects the claims made in a Bloomberg report, labeling them as “false”. Adani Enterprise Limited, a key entity within the conglomerate, went further to emphasize that they … Read more
According to reports, Kishore Biyani, the founder of Future Group, has put forth an intriguing proposition to settle the Rs 571-crore debt owed by Bansi Mall Management, the entity that owns SOBO Central Mall in Mumbai’s Haji Ali. Biyani’s offer amounts to Rs 476 crore, aimed at reaching a one-time settlement with a consortium of … Read more
Gold prices saw a modest uptick on Monday amidst market apprehension ahead of significant events later in the week, notably the Federal Open Market Committee (FOMC) announcement scheduled for Wednesday. Early afternoon trading in New York witnessed XAU/USD edging up by around 0.2%, finding support around the $2,150 mark. With the March meeting of the … Read more
Tata Sons is poised to initiate the divestment of a 0.65 percent stake in Tata Consultancy Services (TCS), its flagship company, through an open market transaction slated for Tuesday, as per information provided in a term sheet. The plan involves the sale of 23.4 million shares at a floor price of Rs 4,001 per share. … Read more
Narayana Murthy, the co-founder of Infosys, has made a substantial gesture by gifting his four-month-old grandson, Ekagrah Rohan Murty, 15 lakh shares valued at over Rs 240 crore. In a recent off-market transaction reported in regulatory filings, the 77-year-old transferred the shares to his grandson, representing 0.04 percent of Infosys’ stake, on Friday. This significant … Read more
