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Rupee rises 8 paise to 69.38 vs $ in early trade
Posted on 10th June 2019
The rupee appreciated by 8 paise to 69.38 against the US dollar in opening trade Monday, driven higher opening in domestic equities.

Forex dealers said, the local currency also gained strength amid weakening of the greenback in overseas markets.

However, rising crude oil prices and sustained foreign fund inflows weighed on the domestic currency and restricted the upmove.

The rupee opened at 69.40 at the interbank forex market then gained further ground and touched 69.38 amid a positive opening in domestic equities, displaying gains of 8 paise over its last close.

The rupee Friday had settled at 69.46 to the US dollar.

Meanwhile, the 10-year government bond yield was at 7.01 per cent on Monday, against previous close of 6.97 per cent on Friday.

Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out ₹ 478.84 crore on a net basis Friday, provisional exchange data showed.

Brent crude futures, the global oil benchmark, rose 0.51 per cent to $63.61 per barrel.

Meanwhile, the benchmark BSE Sensex was trading higher by 268.04 points, or 0.68 % to quote at 39,885.74 while the NSE Nifty was trading at 11,943.10, higher by 72.45 points, or 0.61 %.


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I-T dept issues tax refunds of Rs 1.57 trillion, up by 27.2% in 2019
Posted on 13th December 2019

The Income Tax Department has issued as much as Rs 1.57 trillion of income tax refunds in the first eight-and-a-half-months of the current fiscal compared to Rs 1.23 trillion in full 2018-19 fiscal, Revenue Secretary Ajay Bhushan Pandey said Friday.

At a press conference called to disclose impact of steps taken to boost consumption in the economy so as to uplift growth from a six-year low, Pandey said tax refund cases have gone up by 17 per cent to 2.16 crore.


Andhra govt passes 'Disha Bill' to provide speedy trials, stricter punishment for sexual offences
Posted on 13th December 2019

In a historic move, the Andhra Pradesh legislative assembly on Friday passed AP Disha Act 2019 to protect women and children in sexual offences cases by providing speedy investigation and justice to victims.

Chief Minister YS Jaganmohan Reddy said the Nirbhaya case and the recent Disha case have compelled the need for AP Disha Act which has many salient features.


Tamil Nadu overtakes Karnataka to become No 1 in renewable energy
Posted on 13th December 2019

Tamil Nadu has overtaken Karnataka to become India's top renewable power generating state in FY20 (till October).

Of the total renewable power generation in the country, nearly 17.2 per cent was from Tamil Nadu. According to Central Electricity Authority (CEA) data in 2019-20 (upto October) 85,774.92 million units (MU) of power was generated through renewable energy, of which 14,771.69 MU was generated by Tamil Nadu followed by Karnataka (14,730.08 MU), Gujarat (10,505.54), Andhra Pradesh (9,638.70), Maharashtra (8,942.55) and Telangana (3794.99 ).


After 50% returns, 2020 may be even better year for Indian primary market
Posted on 13th December 2019

India's market for initial public offerings is expected to gather pace in 2020 after this year's relatively small crop saw strong gains in the stock market.

The 14 mainboard IPOs this year have risen by an average of more than 50% since listing, data compiled by Bloomberg show.


HDFC rallies 2% to hit all-time high of Rs 2,363; analysts remain bullish
Posted on 13th December 2019

Shares of Housing Development Finance Corporation (HDFC) hit an all-time high of Rs 2,363, up 2 per cent on the BSE on Friday after the company completed the acquisition of HDFC Credila Financial Services. The stock surpassed has its previous high of Rs 2,357 hit on July 18, 2019.

"The Corporation has completed acquisition of 11.47 million equity shares, representing 9.12 per cent of total equity of HDFC Credila for a total consideration of Rs 395 crore, from its promoter Ajay Bohora and Anil Bohora," HDFC said in a regulatory filing.


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