The Indian stock market will remain closed on March 31, marking the last trading holiday of this fiscal. BSE and National Stock Exchange (NSE) will remain closed for trading on account of Shri Mahavir Jayanti. However, India’s largest commodity exchange, the Multi-Commodity Exchange of India (MCX), will remain closed for trading in the first half...
The Indian rupee is poised to rally at the open on Monday amid arbitrage unwinding prompted by the central bank’s curbs on onshore position limits. The Reserve Bank of India late Friday directed banks to cap their net open rupee positions in the foreign exchange market at $100 million by the end of each business day, with...
The Delhi government has increased the commercial LPG cylinder allocation from 20 per cent to 50 per cent of average daily consumption, raising the supply from 1,800 to 4,500 cylinders (19 kg equivalent) per day. This announcement was made by Minister for Food and Supplies Manjinder Singh Sirsa on Thursday. The decision follows directives from...
Oil prices fell sharply in early asian trade on Wednesday, with both major benchmarks dropping more than 5% as traders reacted to signs of potential de-escalation in the Middle East conflict as well as a crude inventory build in the U.S. At the time of writing, WTI crude was trading at $87.51, down 5.24%, while Brent crude had fallen...
At 17:39 IST on March 23, bullion prices edged lower again after a brief recovery, tracking continued weakness in global markets. On the MCX, gold declined Rs 6,348, or 4.39%, to Rs 1,38,144 per 10 grams from the previous close of Rs 1,44,492. Silver fell Rs 8,123, or 3.58%, to Rs 2,18,649 per kg compared...
Mumbai: Kotak Mahindra Bank is one step closer to acquiring the India retail business of Deutsche Bank in a deal valued at about Rs 4,500 crore after being selected as the preferred buyer, multiple people familiar with the matter told ET. A deal is expected to be signed and announced as early as next week,...
A jury has found Elon Musk liable for misleading investors by deliberately driving down Twitter’s stock price in the tumultuous months leading up to his 2022 acquisition of the social media company for $44 billion. But it absolved him of some fraud allegations, finding that he did not “scheme” to mislead investors. The civil trial...
In a sudden move, HDFC Bank’s part-time chairman and independent director Atanu Chakraborty resigned with immediate effect on Wednesday. In a letter to the Chairman of Governance, Nomination, Remuneration Committee of the bank, Chakraborty said, “Certain happenings and practices within the bank, that I have observed over the last two years, are not in congruence...
Gold and silver prices opened lower on the Multi Commodity Exchange of India on Thursday after the US Federal Reserve on Wednesday left its benchmark interest rate unchanged at 3.5% to 3.75%. The US Federal Reserve struck a hawkish tone, suggesting less urgency to cut rates.
Mukesh Ambani-led Reliance Industries (RIL) aims to file a draft red herring prospectus for the initial public offering of its digital and telecom unit, Jio Platforms, as early as the end of this month, reported Bloomberg News on Tuesday, citing sources familiar with the matter. However, Business Today could not immediately verify the report. India’s...