MUMBAI: Fresh flare ups between Iran and Israel on Monday sank the rupee, spiked crude prices globally and pulled down most major Asian markets. As a result, sensex dipped over 900 points (1.3%) in early trades but recouped some ground to close 719 points (1%) lower at 73,524 points. Friday’s massive sell-off in the US…
Silicon Valley giant OpenAI is set to make a debut on Wall Street, as the firm confidentially filed paperwork for an initial public offering (IPO). The firm confidentially filed paperwork for an initial public offering (IPO) with the US Securities and Exchange Commission (SEC).As the filing remains confidential, details such as the number of shares…
The government will divest up to a 3% stake in state-owned NLC India Ltd through an offer for sale (OFS), with the floor price set at Rs 303 per share, nearly 10% below the stock’s closing price on Monday.The OFS for non-retail investors will open on Tuesday, while retail investors can bid on June 10,…
The rupee surrendered most of its previous session’s gains and fell 43 paise to close at 95.61 against the US dollar on Monday weighed down by a sharp rise in crude oil prices and a stronger greenback amid escalating geopolitical tensions in the Middle East, PTI reported.Forex traders said risk aversion in global markets, higher…
Hyderabad: Sigma Advanced Systems on Monday said it has bagged an export contract worth US$21.97 million (nearly Rs 208 crore) to manufacture and supply 40,000 units of 155 mm M107 artillery shell bodies for a customer in North America.The Hyderabad-based company said the order has to be executed over a period of six months, with…
Wall Street recovered some ground on Monday as technology and semiconductor stocks linked to the artificial intelligence (AI) boom bounced back from Friday’s sharp sell-off while oil prices eased from overnight peaks despite continued tensions between Israel and Iran.The S&P 500 rose 0.7% after suffering its worst daily decline since October on Friday. The Dow…
SpaceX is preparing for a stock market debut that could become the largest initial public offering in history. The Elon Musk-led company is seeking to raise about $75 billion at a valuation of roughly $1.75 trillion, a figure that would place it among the most valuable publicly traded companies in the world from day one.The…
Government bonds advanced on Monday shrugging off a surge in crude oil prices triggered by escalating tensions in Middle East as optimism over the Reserve Bank of India‘s accommodative policy stance and measures to attract foreign capital supported market sentiment.The yield on the benchmark 6.48% 2035 government bond fell 2.4 basis points to 6.9532%, its…
India recorded a current account surplus of $7.1 billion, equivalent to 0.7% of GDP, in the January-March quarter of FY26, according to Reserve Bank of India data released on Monday.The surplus was lower than the $13.7 billion, or 1.4% of GDP, recorded in the corresponding quarter of FY25, according to news agency PTI.However, for the…
India’s merchandise exports recorded around 15% growth during April-May of the current financial year despite continuing global economic uncertainties, a senior government official said on Monday as reported PTI.The commerce ministry is scheduled to release the country’s trade data for May on June 15.“During the two months, exports are up by 15 per cent,” the…