With the liquidity deficit, which has come about due to RBI’s intervention (aimed at ensuring gradual depreciation of the Rupee against the Dollar) in the forex market, estimated at about ₹2 lakh crore as on January 14, market players say the move couldn’t have come at a better time.
The Company has recently tested its patented SIDRP on a zero gravity flight in Florida successfully. This test has further validated SIDRP’s capabilities for on-orbit mission critical steps including docking, refueling and proximity operations. This successful demonstration is a major milestone in SIDRP’s precision and accuracy in simulated space conditions taking the company a step closer to their mission of disrupting the outer space market.
Some recovery in domestic equity markets after the release of macroeconomic numbers also supported the Indian currency even though it remained under pressure due to elevated crude oil prices and continuous outflow of foreign funds.
The Company engaged with global investors in Hong Kong, Singapore and London. On the back of strong investor interest, the transaction was launched with an initial price guidance of UST + 125 bps. Following a strong book building, supported by high quality investors, the Company was able to tighten pricing by 33bps to UST + 92 bps.
The monetary policy department, which was handled by Patra, has been allocated to M Rajeshwar Rao. Rao will also handle portfolios such Co-ordination, Department of Communication, Department of Economic and Policy Research, Department of Regulation, Department of Statistics and Information Management and Enforcement Department among others.
Biggest jump was observed for primary articles inflation as it touched to 6.02 per cent, from 5.49 per cent in November.
India’s benchmark indices Sensex and Nifty rebounded in early trade on Tuesday after four days of sharp decline amid value
HDFC Bank Ltd., the country’s largest private-sector bank by assets, stayed at the top of the ranking with a market cap of 13.6 trillion rupees, up 2.6% from the previous quarter. Two other private-sector banks, The Federal Bank Ltd. and ICICI Bank Ltd., also logged an increase in market cap for the quarter, with Federal Bank gaining 1.7% to 490.7 billion rupees and ICICI Bank 0.9% to 9.05 trillion rupees.
Prices of cereals rose by 6.5% from a 6.88% increase in November, while those of pulses rose 3.83% compared to a 5.41% growth in the same period.
The Indian rupee logged its steepest single-day fall in nearly two years and ended the session 66 paise down at its historic low of 86.70 against the US dollar on Monday, weighed down by a stronger American currency and surging crude oil prices.