Funds

The rupee surged by seven paise against the US dollar on Tuesday, December 29, to settle at 73.42 (provisional), amid positive domestic equities and weak American currency. This was the fourth straight session of the domestic unit's gain against the dollar. At the interbank foreign exchange market, the local unit opened at 73.42 against the dollar and registered an intra-day high of 73.34. It...

Domestic share markets scaled new peaks on Monday tracking gains in Asian equities, as investors remained optimistic about COVID-19 vaccines and US President Donald Trump's approval of a pandemic relief package aided risk sentiment globally. The S&P BSE Sensex index jumped 433.18 points, or 0.92 per cent, to an all-time high of 47,406.72 during the session, and the broader...

Shares in biscuit maker Mrs Bectors Food Specialities Ltd more than doubled in their market debut on Thursday, in a latest sign of strong investor appetite for the country's food sector amid the COVID-19 pandemic. The initial public offering (IPO), which was nearly 200 times oversubscribed, comes days after Burger King India - a company to which Mrs Bectors sells...

Digital Campaign promotes early planning of investments in ELSS before March 2021 December, 2020, Mumbai: L&T Mutual Fund, one of India’s top asset managers with total AUM of Rs 70,191 crore (as on Nov 30, 2020), has launched an integrated digital campaign called ‘Late Lateef 2021’ to reiterate the importance of investing early in Equity Linked saving Scheme (ELSS) for...

A day after settling flat, the rupee rose marginally higher by three paise against the US dollar on Friday, December 18, to close at 73.56 (provisional) amid positive domestic equities and sustained foreign fund inflows. At the interbank foreign exchange market, the domestic unit opened at 73.55 against the greenback and registered an intra-day high of 73.49. It witnessed a low of...

The government succeeded in divesting 20 per cent stake in the railway ticketing firm, Indian Railway Catering and Tourism Corporation (IRCTC) in the recently concluded offer for sale (OFS). The retail investors lapped up all the shares up for sale and the institutional investor portion was subscribed 1.34 times. Following the share sale, the government's stake in IRCTC will...

The rupee ended flat at 73.64 against the US dollar on Friday, December 11, while trading in a narrow range and tracking recovery in domestic equities towards the end of the session. At the interbank foreign exchange market, the local unit opened at 73.65 against the dollar and registered an intra-day high of 73.56. It witnessed a low of 73.71. The rupee finally closed at...

Domestic stock markets registered mild losses on Thursday, halting a rally that pushed the benchmark S&P BSE Sensex index above the 46,000 mark for the first time ever. The Sensex index fell 392.63 points, or 0.85 per cent, to 45,710.87 at the weakest level recorded in morning deals. The broader NSE Nifty 50 benchmark slid to as low as...

The rupee strengthened by three paise against the US dollar on Wednesday, December 9, and settled at 73.57 (provisional), supported by heavy buying in domestic equities and foreign fund inflows. At the interbank foreign exchange market, the local unit opened at 73.58 against the dollar and registered an intra-day high of 73.49. It witnessed a low of 73.61. In...

India's economy, severely affected by the coronavirus pandemic, is gradually recovering, the International Monetary Fund (IMF) said on Thursday. The country's economy recovered faster than expected in the September quarter, as a pickup in manufacturing helped GDP clock a lower contraction of 7.5 per cent and held out hopes for further improvement on better consumer demand. "India has indeed...