Funds

Ending its two-day losing streak, the rupee soared 13 paise higher against the US dollar on Friday, December 4, and settled at 73.80 (provisional) as the Reserve Bank of India (RBI) kept the interest rates unchanged for the third time in a row. At the interbank foreign exchange market, the local unit opened at 73.81 and registered an intra-day high of 73.70....

The rupee edged lower by 12 paise against the US dollar on Thursday, December 3, settling at 73.93 (provisional) as investors remained cautious ahead of the Reserve Bank of India's (RBI) policy meet outcome. At the interbank foreign exchange market, the local unit registered a highly volatile trading session. The rupee opened at 73.81 and witnessed an intra-day high of 73.68. It registered a low...

India's top retail trade body said on Sunday that sales during the country's Diwali festive period rose by more than 10 per cent year-on-year, indicating "good business prospects" for small businesses. The Confederation of All India Traders (CAIT), which claims to represent tens of millions of firms across the country, said that sales of its members during the one-month...

Paytm on Tuesday launched 'Payout Links' for businesses, enabling them to instantly process payouts to customers, employees, as well as vendors without collecting their bank details. According to a statement by Paytm, "the Payout Links offer seamless payment integration for businesses to send quick incentives and refunds to customers through an easy payout link. This will remove the need...

Four years after demonetisation, cash is majorly still used for low-value transactions such as buying groceries and making payments to domestic staff. According to a latest survey conducted by community social network LocalCircles, the top categories of purchases for which citizens paid the most amount in cash without a receipt were grocery (for 39 per cent respondents), and salaries...

The rupee depreciated 30 paise to 74.40 against the US dollar in opening trade on Monday tracking muted domestic equities and strong American currency amid global risk aversion. The local unit opened at 74.40 at the interbank forex market, down 30 paise over its last close. On Thursday, the rupee had declined further by 23 paise to close at a two-month...

The S&P BSE Sensex and NSE Nifty 50 indexes snapped their three-day losing streak, led by buying interest in banking shares after ICICI Bank and IndusInd Bank reported strong September quarter earnings. However, the upside for benchmarks was capped as the country's most valued company - Reliance Industries shares - dropped as much as 9.46 per cent, the most...

The Goods and Services Tax (GST) collections in October was ₹ 1.05 lakh crore, crossing the ₹ 1 lakh crore mark for the first time since February this year, the finance ministry said on Sunday. The gross GST revenue collected in October stood at ₹ 1,05,155 crore, out of which Central Goods and Service Tax (CGST) was ₹ 19,193...

Telecom major Bharti Airtel on Tuesday reported a revenue of ₹ 25,785 crore in the July-September period, its highest ever in a quarter, boosted by higher tariffs and a rise in data usage from a coronavirus-fuelled shift to remote working. The jump in revenue for Bharti Airtel comes at a time when the country's telecom sector is grappling with...

Angel Broking shares gained 20 per cent in intra-day trading after the retail broking house reported the highest-ever quarterly profit, at ₹ 74.47 crore, in the second quarter ended September 2020. At 1:00 pm, the shares were trading higher by 19.30 per cent at ₹ 296.65 on the BSE, after touching an intra-day high of ₹ 298.35. But after...