India’s central bank reported that nearly all 2,000-rupee banknotes have returned to the financial system more than two years after officials began phasing out the high-denomination currency. The Reserve Bank of India said 98.37 percent of the pink bills had been deposited or exchanged as of Oct. 31, with only 5,817 crore rupees remaining from…
India should target tariff rates between 10 and 20 percent during current trade negotiations with the United States, former Reserve Bank of India head Raghuram Rajan said. The economist cautioned against accepting difficult obligations similar to those made by Japan and European nations, which he described as potentially damaging to their economies over time. Speaking…
Lock-in restrictions expire on Monday for 19.2 million shares across three Indian companies valued at more than 1,000 crore rupees. National Securities Depository Ltd. accounts for 7.5 million shares becoming tradeable, representing four percent of that firm’s market capitalization and worth approximately 870 crore rupees based on Friday’s closing prices. The depository operator’s stock finished…
An investor holding three-quarters of a small Indian electronics firm became a paper billionaire after the company’s shares jumped 66,500 percent during 18 months of frenzied trading. Rajendra Kamalkant Chodankar holds 74.5 percent of RRP Semiconductor Limited through roughly 10.2 million shares valued at over 9,000 crore rupees following a peak price reaching 10,887.10 rupees…
Oyo pushed back its deadline for unlisted shareholders to select bonus share options by six days as the hospitality company prepares for a public listing valued between $7 billion and $8 billion. The extension moves the cutoff from Friday to November 7, with the firm citing strong initial participation and a desire to give investors…
Indian equities will respond to quarterly earnings reports, economic indicators and international market movements during the coming days, according to market specialists. Trading will pause on Wednesday for the Guru Nanak Jayanti observance. Major corporations scheduled to disclose financial results include Bharti Airtel, Titan Company, Adani Enterprises, Adani Ports, InterGlobe Aviation, Mahindra & Mahindra, State…
Gold prices in India dropped to 120,770 rupees per 10 grams for 24-carat metal on Friday as the precious metal extended recent declines. Silver fell to 149,125 rupees per kilogram during the same trading session. The yellow metal has shed 10,104 rupees since reaching 130,874 rupees on October 17, while silver declined 28,975 rupees over…
Sanghi Industries posted second-quarter revenue gains but extended its losing streak to seven consecutive periods as debt costs consumed operating earnings. The Adani Group cement manufacturer reported net sales of 284.93 crore rupees for the three months ending in September, climbing 88 percent from the year-earlier quarter. Operating profit reached just 24.87 crore rupees while…
Ashok Leyland reported October sales of 17,820 vehicles, marking a 16 percent climb from the 15,310 units sold during the same period one year earlier. Domestic sales reached 16,314 units last month compared with 14,067 units in October 2024, while medium and heavy commercial vehicles accounted for 9,611 deliveries versus 8,437 in the prior year….
Pine Labs has scaled back its initial public offering ahead of a scheduled launch during the week starting on Thursday. The fintech company cut the number of existing shares for sale by 44 percent while reducing fresh capital plans by 20 percent from earlier proposals filed in June, according to an updated prospectus submitted on…
