FPIs pull out Rs 11,000 cr in July, highest since Oct’18

  New Delhi, Aug 1: Foreign investors turned net sellers in Indian markets in July as they pulled out more than Rs 11,000 crore (nearly $2 billion), highest in 2019 after the central government proposed higher tax surcharge proposed on super rich. This is the highest ever outflow after October 2018 when foreign investors pulled […]

India’s Q2 gold demand rises 13 pc to 213 tonne: WGC

Mumbai, Aug 1: Gold demand in India went up by 13 per cent during Aril-June period of this year to 213.2 tonne mainly driven by attractive prices and more number of auspicious days, World Gold Council (WGC) said in a report. The overall demand in the country had stood at 189.2 tonne during the second […]

Strong demand boosts India’s factory activity to 52.5 in July: PMI data

Strong demand boosts India’s factory activity to 52.5 in July: PMI data

New Delhi, Aug 1: India’s factory activity accelerated in July as domestic demand and output strengthened, encouraging firms to hire at the fastest rate in five months, a private business survey showed on Thursday. The Nikkei Manufacturing Purchasing Managers’ Index, compiled by IHS Markit, rose to 52.5 in July from June’s 52.1. It has remained […]

India 10-year bond yield drops as FPIs shift from equities to debt

  New Delhi, Jul 31: Indian bonds remained volatile over the past week on uncertainties over the maiden offshore sovereign bonds issuance, according to a report by DBS Group Research. The benchmark 10-year bond yield fell below 6.40 per cent last week after finance minister Nirmala Sitharaman assured that the offshore bond issuance plan was […]

Innovation key for India to become USD 5 trillion economy: Pradhan

  New Delhi, Jul 31: Petroleum Minister Dharmendra Pradhan on Wednesday stressed on the importance of innovation and said that it is a key factor which will boost economic growth and help India become a USD 5 trillion economy by 2024-25. Speaking at the launch of Niti Aayog’s Atal Community Innovation Centre (ACIC) programme, Pradhan […]

RBI allows domestic banks to sell NPAs abroad as one-time settlement

RBI allows domestic banks to sell NPAs abroad as one-time settlement

Mumbai, Jul 31: The Reserve Bank of India (RBI) allowed domestic banks to directly sell their bad loans in manufacturing and infrastructure sectors to investors abroad as part of one-time settlement (OTS) exercises. The move will allow overseas investors to take direct loan exposure to Indian corporates. The defaulters, or stressed borrowers, can sell their […]

Indices end in green, witness worst July in 17 years

  Mumbai, Jul 31: The benchmark BSE S&P Sensex and broader Nifty50 gained nearly 450 points and 146 points respectively from lows to end in the green on Wednesday. Domestic indices traded lower for better part of the day but saw sharp surge during the last trading hour. Weak corporate earnings, economic slowdown and tax […]