BUSINESS
Foreign Portfolio Investors Sell Equity Worth Rs 28,818 Crores in 2024
As of February 9, FPIs have reportedly divested equity holdings worth Rs 3,074 crores while acquiring debt instruments worth Rs 15,093 crores. This ongoing trend reflects total equity divestment of Rs 28,818 crores and debt procurement of Rs 34,930 crores in the year 2024 thus far.
Paymart, Fintech Startup, Teams Up with 5 Banks to Introduce 'Virtual ATM'
Additionally, Paymart is actively engaged in discussions with four more banks for potential collaboration, aiming to broaden its network and enhance accessibility for customers.
Sovereign Gold Bond Price Set at Rs 6,263/gm as Issue Opens Monday
Investors applying online and making payments through digital modes will receive a discount of Rs 50 per gram, resulting in an issue price of Rs 6,213 per gram.
One97 Communications Establishes Group Advisory Committee Led by Former SEBI Chairman Damodaran
The committee boasts a lineup of seasoned professionals, including M.M. Chitale, the former President of the Institute of Chartered Accountants of India (ICAI), and a former Governing Council Member of the Banking Codes and Standards Board of India nominated by the RBI.
Petronet Unveils Rs 40,000 Crore Investment Strategy to Triple Profits by 2028
A significant portion of this investment will be directed towards venturing into the petrochemical business. Petronet aims to invest Rs 12,500 crore in establishing a Propane Dehydrogenation Plant, converting imported feedstock into propylene. Additionally, it plans to set up a floating LNG import facility in Gopalpur, Odisha, at a cost of Rs 1,600 crore.
Selling Pressure Hits Small and Mid-Cap Stocks
The BSE small-cap Index dipped by 2.6 percent during the trading session. Notable decliners included MSTC, down by 15 percent, AstraZeneca Pharma by 14 percent, Surya Roshni by 10 percent, RVNL by 9 percent, Bector Foods by 9 percent, BEML by 8 percent, and Onmobile Global by 10 percent.
Markets Show Firm Trend with Buying Interest in Reliance and TCS
After initially trading flat, the 30-share BSE Sensex rose by 122.61 points to reach 71,551.04 in early trade, while the Nifty increased by 45.45 points to 21,763.40.
Rupee Slips 5 Paise to 83.01 Against US Dollar in Early Trade
At the interbank foreign exchange, the rupee opened at 82.96 against the dollar, reaching an early low of 83.01 and a high of 82.95 in initial trade. The previous day, the rupee had settled at 82.96 against the US dollar after the Reserve Bank of India (RBI) opted to maintain the key policy rate unchanged for the sixth consecutive time, aiming to keep a tight vigil on inflation.
White Paper Reveals Doubling of Airports from FY15 to FY23, Reaching 149
Furthermore, the length of national highways experienced a significant increase from 0.98 lakh km in FY15 to 1.45 lakh km in FY23, while cargo traffic at major ports saw a notable rise from 581 million tonnes to 784 million tonnes during the same period.
Market Decline Follows RBI Monetary Policy Decision; Bank Stocks Lead the Drag
The decision by the Reserve Bank of India to maintain the key policy rate unchanged at 6.5 per cent for the sixth consecutive time underscored its cautious approach toward inflation. RBI Governor Shaktikanta Das announced the decision following the bi-monthly monetary policy review.
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