Tuesday, November 26
The Indian rupee declined to a lifetime low on Thursday in the wake of expectations that Donald Trump's victory is likely to boost the dollar in the coming months. The rupee dipped to 84.2950, inching past the previous all-time low of 84.28 hit on Wednesday. Trump's policies of tax cuts and deregulation are likely to lift U.S. growth, prompting investors to prefer the dollar to the other currencies, analysts said, adding that the threat of tariffs is likely to undermine euro and Asian currencies. Asian currencies took a breather on Thursday after slumping by as much as 1.8% in the previous session. The dollar index slipped 0.1% to 104.9. Traders expect the Reserve Bank of India to continue intervening to prevent sharp moves in the rupee, which is evident in the currency's muted implied vol
Democratic Vice President Kamala Harris called Donald Trump on Wednesday to congratulate the Republican leader on his U.S. presidential election win, two aides to Harris said. Harris, who is scheduled to make public remarks later on Wednesday, also "discussed the importance of a peaceful transfer of power and being a president for all Americans," a senior Harris aide said.
New Delhi: In an important judgment pronounced on November 7, the Supreme Court ruled against the changing of recruitment rules mid-process for government jobs.The ruling was given by a five-judge panel led by Chief Justice DY Chandrachud.As per the verdict, changing rules for government job recruitment during an ongoing process is not allowed unless specifically permitted.The five-judge panel stated that the "rules of the game" cannot be altered once the recruitment process begins. The panel included Justices Hrishikesh Roy, PS Narasimha, Pankaj Mithal, and Manoj Misra.The court emphasised that selection rules must be fair and align with Article 14 of the Constitution.The judges unanimously agreed that public recruitment must be transparent and fair, stating, "rules of the game' once set
The initial public offering (IPO) of Niva Bupa Healthcare, which opened for subscription earlier on Thursday, has been subscribed by 7% within the initial hours, with retail investors driving the demand so far.Around 11:30 am, the highest subscription was witnessed by the retail participants, who bid for 1,01,98,000 shares from the 3,14,28,571 reserved for them. They had subscribed to the issue by 32%. Non-institutional investors (NIIs) had subscribed the issue by 2%.The qualified institutional buyers (QIBs) are yet to bid for the issue.The issue, which is a fresh equity sale of Rs 800 crore and an offer for sale (OFS) of Rs 1.89 crore shares, will be available for bidding till November 11.Under the OFS, Bupa Singapore Holdings and Fettle Tone will offload their part stakes.The company pro
The initial public offering (IPO) of ACME Solar Holdings was subscribed to 47% on the second day of bidding, Thursday. On day one, the issue was subscribed to 39%.As of 11:09 am, the issue had attracted bids for 2,75,03,790 shares, or 47% of the total issue size of 5,82,03,223 shares. The retail portion of the issue was subscribed 1.57 times, while the non-institutional category's subscription rate stood at 37%. The allocation for qualified institutional bidders was booked at 15%.The grey market premium (GMP) for ACME Solar Holdings has declined to Rs 5-6, indicating a 2% premium in the unlisted market. On the first day of bidding, the GMP was Rs 10, representing a 3% premium over the issue price.ACME Solar raised Rs 1,300.5 crore from 58 anchor investors ahead of its IPO, which opened on
