Softer-than-expected US inflation data and easing bond yields have also brought optimism in equity markets.
Varma, Professor of Finance and Accounting at Indian Institute of Management, Ahmedabad, says that the spike in inflation due to a rise in vegetable prices lasts only a few months when monetary policy is conducted appropriately. Excerpts:
Chinese banks have been asked not to square their positions in the inter-bank foreign exchange markets after any US dollar sales to clients, until their spot foreign exchange position hits a certain level, reported Reuters.
The chief executives of Air India and Akasa Air have privately exchanged barbs over the poaching of pilots, with the latter accusing its bigger rival of rule violations, provoking a reply that collusion to curb job switching can breach competition law.
Among the Sensex firms, NTPC, Power Grid, Mahindra & Mahindra, Larsen & Toubro, Sun Pharma, State Bank of India, Titan and Tata Steel were the major gainers.
Over 79 per cent of the respondents shared a higher level of production in Q2 FY24 and the average capacity utilisation rate was higher at 74 per cent in Q2 as against 73 per cent in previous quarters, the survey said.
Under the partnership, Zomato’s delivery partners can get access to Battery Smart’s existing network of over 800 swap stations across more than 30 cities, the company said in a statement.
HDFC Bank claimed that it has on-boarded over 1 lakh customers and more than 1.7 lakh merchants on the CBDC pilot programme and activated an interoperable UPI QR code with the e-rupee platform.
Power Grid Corporation of India Ltd on Monday posted over a 5 per cent decline in consolidated net profit to Rs 3,597.16 crore due to increased finance costs.
Vedanta group firm Hindustan Zinc Ltd (HZL) on Friday reported a 35.4 per cent drop in consolidated profit to Rs 1,729 crore for the September quarter due to lower income.