Friday, 8 December 2017

The Indian Rupee Traded Higher At 64.55 Against The US Dollar

The Indian Rupee traded higher at 64.55 against the US dollar, rising 2 paise compared with previous close.

Increased selling of the American currency by exporters and banks supported the rupee. Positive equity markets also aided sentiment.

On Thursday, the rupee had lost further ground to end at a near two-week low of 64.57 against the US currency, falling by 5 paise.

Meanwhile, the BSE Sensex was up 171.86 points at 33,121.07 and the Nifty gained 51.30 points at 10,218.

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Reliance Industries Has Acquired Stake In A Newly Incorporated Entity

Reliance Industries has acquired stake in a newly incorporated entity viz Dreketi SA in Uruguay.

Consequentially Dreketi has become wholly-owned subsidiary of the company.

Currently, Dreketi is not engaged in any business activity.

This is a part of company's plan to strengthen its marketing efforts in Latin American region, Reliance Industries said.

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Thursday, 7 December 2017

GAIL Was Biggest Gainer Among Nifty 50 Stocks, Up 4 Percent

Equity benchmarks rallied further in late morning deals, with the Sensex rising 243.40 points to 32,840.58.

The Nifty is firmly trading above 10,100-mark, up 81.40 points at 10,125.50.

The market breadth was strong as about three shares advanced for every share falling on the BSE.

GAIL was biggest gainer among Nifty 50 stocks, up 4 percent followed by Tech Mahindra, Tata Power, Bosch, Eicher Motors, NTPC, Tata Steel, Maruti, Bajaj Auto and L&T.

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The Rupee Is Trading Flat At 64.52 Against The US Dollar

The rupee is trading flat at 64.52 against the US dollar at the interbank foreign exchange today.

The rupee had lost 14 paise to end at 64.52 against the US dollar yesterday after RBI decided to keep the key policy rates unchanged and raised the inflation forecast.

Jet Airways, Shriram EPC, Precision Wires, Zicom, Venus Remedies, Indian Hume, Hotel Leela, Ginni Filaments, Asian Hotel and Cambridge Tech will announce its September quarter earnings today.

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Wednesday, 6 December 2017

Shares Of Shilpa Medicare Declined Nearly 6 Ercent In Morning

Shares of Shilpa Medicare declined nearly 6 percent in morning as it has received 10 observations from USFDA.

The company has received 483 observations from the United States Food & Drug Administration in relation to SEZ formulation facilities situated at Jadcherla, Telangana.

The company has received total 10 observations, which includes 7 observations for improvement in procedures and practices and 3 observations are related to setting of analytical specifications, test procedures and method validation.

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Tuesday, 5 December 2017

The 30-Share BSE Sensex Was Down 107.30 Points At 32,762.42

Equity benchmarks remained under pressure in morning after the Fitch Ratings lowered India's economic growth forecast for FY18. 

Investors also maintained their cautious stance ahead RBI policy meet and mid-term review of foreign trade policy.

The 30-share BSE Sensex was down 107.30 points at 32,762.42 and the 50-share NSE Nifty declined 31.70 points to 10,096.10.

About two shares declined for every share rising on the BSE.

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The Reserve Bank Of India Looks Set To Keep Its Policy Rate On Hold

The Reserve Bank of India looks set to keep its policy rate on hold on Wednesday, after inflation accelerated to a seven-month high and stronger economic growth reduced the need for monetary stimulus.

All but two of 54 analysts in a Reuters Poll said the repo rate would be left at 6.00 percent, the lowest since November 2010.

In August, the RBI made its only cut in 2017, of 25 basis points, and in October, it held.

On Wednesday, after a two-day meeting, the RBI is likely to reiterate concern about inflation, as the annual rate increased to 3.58 percent in October. That's low by Indian standards, but not far from the central bank's 4 percent target.

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