ET Intelligence Group: The early trend in September quarter results shows that companies have continued to clock a double-digit, year-on-year increase in aggregate net profit and high single-digit growth in net sales. Select companies from sectors including oil and gas, steel and retail have followed this trend while sectors including banking and finance and information…
Mumbai: The Indian rupee closed 15 paise weaker on Friday, halting its two-day rally, with the Reserve Bank of India’s (RBI) likely intervention averting a steeper fall. The local currency closed at 87.9750 per dollar compared to Thursday’s 87.82/$1. The rupee had briefly weakened past the 88/$1 levels before the Indian spot markets opened, but…
As the earnings season for the second quarter of the current financial year is set to begin, banks are expected to report another soft performance, according to a report by Axis Securities. The brokerage firm highlighted that Q2 is likely to remain weak for the banking sector due to a combination of factors including tepid…
The coming week will be crucial for Indian equities as investors track the Reserve Bank of India’s Monetary Policy Committee (MPC) meeting, developments on the India-US trade deal, foreign institutional investor (FII) activity, and global economic cues. The MPC meeting is scheduled from September 29 to October 1, where the central bank is expected to…
Rupee hits 88.36 against the dollar amid fears of U.S. tariffs; RBI steps in with dollar sales to limit losses as foreign investors pull out $1.4 billion in September. Source link
India’s foreign exchange reserves (forex) recorded a massive drop, according to official data released by the Reserve Bank of India. They fell by USD 9.32 billion to USD 688.871 billion in the week ended August 1, it added. In the latest monetary policy meeting, RBI Governor Sanjay Malhotra said that the foreign exchange reserves are…