Business

In response to a post on X by the Reserve Bank of India, PM Modi congratulated RBI Governor Shaktikanta Das, saying, “Congratulations to RBI Governor Shri @DasShaktikanta for achieving this feat for the second time.” He added, “This recognition reflects his leadership at the RBI and his efforts to promote economic growth and stability.”

Forex traders noted that a weak American dollar and lower crude prices helped support the rupee, preventing a sharper decline. At the interbank foreign exchange, the rupee opened lower at 83.79 and further weakened to 83.84 against the dollar, down 7 paise from the previous day's close of 83.77.

The 30-share BSE Sensex dropped 138.58 points, or 0.17%, to 80,664.28 in early trade. Meanwhile, the NSE Nifty ended its four-day rally, slipping 15.20 points to 24,683.65. Among the 30 Sensex companies, UltraTech Cement, Kotak Mahindra Bank, Tech Mahindra, ICICI Bank, HDFC Bank, IndusInd Bank, Power Grid, and Axis Bank were the major laggards.

The iPhone unit by Tata is being built in Hosur, Tamil Nadu, where, the facility is expected to employ over 50,000 workers, mostly women. The 250-acre Hosur plant will manufacture iPhones using components from a unit that Tata set up a couple of years ago

In early trade, the 30-share BSE Sensex rose by 287.56 points to 80,724.40, while the NSE Nifty increased by 97.65 points to 24,638.80. The biggest gainers among the 30 Sensex companies were NTPC, Titan, Tata Steel, ITC, Reliance Industries, State Bank of India, Bajaj Finance, and JSW Steel.

Forex traders noted that the weakening of the American currency in global markets and falling crude oil prices boosted investor sentiment. On the interbank foreign exchange market, the rupee opened at 83.88 against the dollar, then strengthened to 83.84, marking an 11 paise gain from its previous close.

The benchmark one-year tenor MCLR, which is used to price most consumer loans such as auto and personal, is now pegged higher at 8.95% against the earlier rate of 8.85%

Equity benchmark indices Sensex and Nifty surged in early trade on Friday, driven by a global market rally and strong buying in IT stocks and Reliance Industries. The 30-share BSE Sensex climbed 805.96 points to 79,911.84, while the NSE Nifty rose 252.05 points to 24,395.80.

"Happy Independence Day. @zerodhaonline also turns 14 today, so thank you for all the love," Kamath shared in a post on X.com. Kamath, who co-founded Zerodha with his younger brother Nikhil in 2010, also posted a video from 2018, featuring his son singing the Indian national anthem, Jana Gana Mana, while Kamath played the guitar.

The company launched Roadster, Roadster X and Roadster Pro electric motorcyles, with prices starting from Rs 74,999, Rs 1,04,999 and Rs 1,99,999, respectively. It also teased two upcoming motorcycles – Sportster and Arrowhead.

According to an official, the search giant is intensifying its focus on India with the introduction of advanced AI tools aimed at enhancing agricultural practices

With an office space of 10 lakh sq.ft, the new campus will provide employment to around 15,000 people, making Hyderabad its largest base in the world.

Liu had also visited India in July last year to attend the Semicon India conclave where he met Prime Minister Narendra Modi.

In early trade, the 30-share BSE Sensex rose by 144.92 points to 79,100.95, while the NSE Nifty increased by 57.5 points to 24,196.50. Among the 30 Sensex companies, the biggest gainers were HCL Technologies, Mahindra & Mahindra, Tech Mahindra, Tata Motors, State Bank of India, and NTPC.

To enhance accessibility for Pixel smartphones, Google announced the launch of three new Google-owned walk-in service centers in collaboration with Flipkart’s service arm. Additionally, Pixel products will now be available in over 150 retail outlets across 15 cities, expanding the company's local retail presence.

Forex traders noted that the US dollar weakened against major currencies following a softer-than-expected US Producer Price Index (PPI) report, making the Dollar Index susceptible to further correction. In the interbank foreign exchange market, the rupee opened at 83.90 against the dollar, gaining 7 paise from its previous close.

Narasimhan has stepped down as CEO and from the Starbucks board "with immediate effect," the company announced on Tuesday. The leadership change comes as Starbucks seeks to revitalize its business amid recent broad-based sales declines.

The global quantum workforce is drastically understaffed, as evidenced in a McKinsey report predicting that less than half of projected quantum computing jobs will be filled by 2025.

Nearly 27 million 5G smartphones were shipped in the April-June quarter.

Shares of Adani Wilmar went up 2.15 per cent, ACC (1.93 per cent), Adani Power (1.74 per cent), Adani Ports (1 per cent) and Ambuja Cements (0.43 per cent).

On the Multi Commodity Exchange, September silver contracts rose by Rs 682, or 0.85%, to Rs 81,225 per kg in 28,366 lots. Analysts attributed the price increase to new positions taken by participants in response to a positive domestic trend.

On the Multi Commodity Exchange, October gold contracts rose by Rs 87, or 0.12%, to Rs 69,982 per 10 grams, with a turnover of 17,282 lots. Analysts noted that the price increase was driven by new positions taken by participants.

On the BSE, Adani Energy Solutions fell 17%, Adani Total Gas dropped 13.39%, NDTV plunged 11%, and Adani Power declined 10.94%. Other notable declines included Adani Green Energy at 6.96%, Adani Wilmar at 6.49%, Adani Enterprises at 5.43%, Adani Ports at 4.95%, Ambuja Cements at 2.53%, and ACC at 2.42%.

Forex traders noted that the 84.00 level is serving as a psychological resistance for the USD/INR pair. Market participants are also waiting for cues from the Indian CPI inflation and IIP data, which are set to be released later today.