The rupee posted its biggest single-day gain since mid-January 1998 as the Reserve Bank of India’s (RBI) latest move to shore up the currency by providing dollars to oil firms directly and the relatively aggressive intervention helped. The partially convertible rupee closed at 66.55/56 per dollar, up 3.46 percent on the day, its biggest single-day rise since January 19, 1998.
Read moreBeleaguered billionaire Vijay Mallaya who also owns Kingfisher Airlines and recently sold a majority stake in United Spirits to Diageo Plc., is staring at the prospect of a substantial dilution of control in Mangalore Chemicals & Fertilisers (MCF) MCF shares have surged a whopping 72 % since June 1st, compared with a 2.8 per cent fall in the Nifty during the same period on speculation
Read moreCollective fear stimulates herd instinct, and tends to produce ferocity toward those who are not regarded as members of the herd…Bertrand Russell Our ancestors lived in a constant state of fear– their lives in constant jeopardy from the elements, wild animals or climate changes that threatened to kill them. In the modern age, we know that some dangers are still very
Read moreMarkets managed to extend gains amid a volatile trading session. NSE Nifty gained 35.30 points to close at 5594. BSE Sensex added 127.75 points to end the day at 18542.20. Infosys covered most of the ground it lost last week to close at 2916, up 3.53 per cent. DLF surged 4.83 per cent to close at 246.80. Tata Motors flared
Read moreBillionaire Ambani brothers on Tuesday struck a Rs 1,200-crore deal wherein Mukesh will use his younger sibling’s optic fibre network for launch of his telecom venture. Under the pact, Mukesh Ambani-led Reliance Industries’ telecom arm will hire nationwide optical fibre network of Reliance Communications for the roll-out of 4G services. “Reliance Jio Infocomm Ltd and Reliance Communications Ltd today announced
Read moreSterlite Industries (India) shares fell sharply on Monday after a copper smelter run by the company in Tamil Nadu was closed after a preliminary inspection by state pollution regulator. Sterlite Industries shares were down as much as 5 per cent to Rs. 89.50 on the National Stock Exchange in early trading against a 0.5 per cent decline in the broader
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