As a result the Indian rupee hit a 16-month peak of 65.41 against the dollar on hopes of continued flows. This level was last seen in November 2015. At the current level rupee is the third best performing Asian currency after South Korean Won and Taiwanese dollar since the start of the calendar year.
Nifty closed above the 9000-mark yesterday in what was a red-letter day for the market. The last time the market came within sniffing distance of the magical figure was two years ago. On March 4 2015, it touched an intra-day high of 9119, a peak it surpassed on Tuesday.
Though private players have not taken the proactive step of creating assets, they have been participating in various government projects -- especially in road, railway and defence space. Over the last two years the speed of road building has picked up from 15.7 km per day in 2013-14 to over 20 km per day now. Nitin Gadkari, Minister for Road Transport and Highways and Shipping, is hoping to ramp it up to 30 km a day.
Thanks to the decisive mandate for Narendra Modi in Uttar Pradesh, the Nifty is set for a two-year closing high. It means that markets have come full circle two years to the month after a similar closing high on March 3, 2015.
A quarter century later that may well be relevant for Uttar Pradesh today where the BJP is set for a landslide victory riding on the wave of support for Prime Minister Narendra Modi.
HNIs, in the past, have made decent gains by leveraged IPO applications, borrowing money for IPOs that are expected to have a premium listing.
The media has been abuzz with the rumours of IndusInd Bank (IIB) and Bharat Financial Inclusion (BHAF) coming together. This isn‘t the first marriage in the space. In the past, IDFC Bank had acquired Tamil Nadu-based Grama Vidiyal Microfinance and Kotak Bank had acquired BSS Microfinance. So there are clearly merits of acquiring a Micro Finance Institution (MFI) for a bank.
Demonetisation was aimed at weaning people from cash. The government almost came close to realizing this dream when for a frenzied two months following the cash ban a lot of us got smart and downloaded a mobile wallet. But love for cash among Indians isâ€¦wellâ€¦undying.
If past experience is any guide, exit polls are at best a good indicator of the trend. Hence, if we follow the trend on UP, it wouldn‘t be an overestimation to expect that BJP might emerge as a single largest party. Even if it doesn‘t cross the 50 percent seat mark, such an outcome is unlikely to rattle the markets beyond a day.
The minimum balance limit news clashed with that of private sector banks charging for withdrawals above four free transactions, thus triggering a debate in social media. ICICI Bank, HDFC Bank and Axis Bank are charging a minimum of Rs 150 per transaction on deposits or withdrawal beyond the first four transactions.
If we follow Buffett, some of the fundamental factors support the Indian aviation sector too. There is no gainsaying that India remains an attractive market which has been growing at a healthy clip - passenger growth has remained above 20 percent for the 13th consecutive month.
Air India can count itself lucky every time the government jumped to its rescue â€“ and the carrier has run into rough weather more number of times than it seems normal for a flag-bearer.
The IPO of Avenue Supermarts, which runs the D-Mart supermarket chain, is likely to see significant oversubscription. However, if the so-called GMP (grey market premium) is any indicator, the blockbuster listing might ensure healthy gains for HNIs if the oversubscription doesn‘t cross historic highs.
The future of payments will be like a sci-fi movie where NFC and facial recognition will enable payments. Currency notes will become a thing of the past, branches will become lesser even as robot advisors, virtual assistants and chatbots will be your new banker, wealth advisor and cashier.
Avenue Supermarts Ltd (ASL), incorporated in May 2000, offers a wide range of products with a focus on foods (53 percent of revenue), non-foods â€“ FMCG (20 percent) and general merchandise & apparel (27 percent) product categories. These stores operate under the â€˜D-Mart‘ brand.
India has 350-million-plus feature phone users slowly migrating to smartphones. That‘s a contingent too huge to ignore.
On Wednesday, the Dow Jones index cheered Donald Trump‘s first address to the Congress with a vault over the 21000 hurdle. The US president was quick to point to Dow‘s steady gain of USD 3 trillion since he took office on November 8, 2016 -- a date which coincided with India's move to ban Rs 500 and Rs 1000 notes.
Conventional wisdom suggests that there should be a strong negative correlation between the change in Bank Nifty and the yield on the ten-year G Sec. To put it simply, if bond prices rise (and hence bond yields fall), banks should be gaining in their G Sec portfolios.
Uber CEO‘s argument with a cab driver in San Francisco echoes similar frustrations being felt by cabbies in a Delhi, Mumbai, Hyderabad or Bangalore. And there is no easy way out for lakhs of drivers attached with taxi apps.
It didn‘t take too long for Havells India Ltd to be back on the inorganic route. So what if the 2007 acquisition of Sylvania didn‘t work exactly as planned?
In one of his addresses, Prime Minister Narendra Modi spoke on the timing of demonetisation, saying that you treat a patient when he is healthy and not when he is weak. His assessment of the economy being healthy at the time of demonetisation seems to be correct if the latest GDP numbers are to be believed.