Maruti Suzuki gains on weak Yen
.jpg)
Maruti Suzuki India has moved higher by 3.5% to Rs 3,833 on the BSE in otherwise range bound market tracking the weakness in the Japanese yen.
A weaker yen would improve Maruti's margins by reducing the costs of importing auto parts from Japan.
The yen weakened as Bank of Japan weighs the possibility of offering negative-rate loans to banks, the Bloomberg report suggests.
The possibility of another negative interest-rate in Japan weakened the yen, which slumped 1% versus the greenback, added report.
Thus far in 2016, the stock underperformed the market by falling 20% due to appreciation in yen against the rupee. The benchmark S&P BSE Sensex declined 1% during the same period.
At 01:35 pm, the stock was up 3.3% at Rs 3,828 on the BSE as compared to 0.04% decline in the S&P BSE Sensex. A combined 858,252 shares changed hands on the counter on the BSE and NSE.
Other Latest News
.webp)
The Enforcement Directorate has filed a money laundering case against YouTuber Siddharth Yadav alias Elvish Yadav and some others under the charge of suspected use of snake venom as a recreational drug in parties he hosted, official sources said Saturday.
The central agency has pressed charges under the Prevention of Money Laundering Act (PMLA) after taking cognisance of a FIR.
.webp)
A flood and a landslide hit Indonesia's Sulawesi island, killing 14 people, officials said Saturday.
Torrential rain pounding the area since Thursday triggered a landslide in Luwu district in South Sulawesi province, said local rescue chief Mexianus Bekabel.
.webp)
India's largest port operator Adani Ports and Special Economic Zone Limited (APSEZ) is looking to expand its operations into the Philippines, with plans to invest in port development, according to a release issued by the office of the president of Philippines.
APSEZ Managing Director Karan Adani met with the Philippines President Ferdinand Marcos Jr at Malacañang on May 2 in a courtesy call to discuss Adani Group's plans for the port.
.webp)
The Securities and Exchange Commission on Friday charged an auditing firm hired by Trump Media and Technology Group just 37 days ago with massive fraud though not for any work it performed for former President Donald Trump's media company.
The SEC charged the accounting firm BF Borgers and its owner, Benjamin F. Borgers, of deliberate and systematic failures in more than 1,500 audits.
.webp)
India's markets regulator has sent notices of regulatory violations to seven companies of the Adani conglomerate, including its flagship Adani Enterprises, the group said in stock exchange filings.
The regulator began probing the Adani group, led by billionaire Gautam Adani, after Hindenburg Research in January 2023 alleged improper use of tax havens and stock manipulation by the group, accusations the group has denied.
.webp)
.webp)
.webp)
.webp)
.webp)
