CROSS CURRENCY BOOKINGS
Bulls in Action: Sensex jumps over 200 points, Nifty crosses 23,600; mid and smallcaps outperform
Within the Nifty pack, UltraTech Cement, HDFC Bank, Divi's Lab, Coal India, and SBI were the top gainers while HCL Tech, Asian Paints, and Titan faced selling pressure. Shares of new-age companies like Paytm, Zomato, and Policybazaar traded higher by around 2% each after Morgan Stanley's bullish note.
What should investors do with defence stocks? Mayuresh Joshi answers
However, I think for markets with India perspective we are very-very light right now, we still like to see over the next couple of days of what transpires on the political front and therefore the initiatives that will be taken over the next few days and specifically in the budget in terms of allocations are going to be extremely critical.
GIFT Nifty down 60 points; here's the trading setup for today's session
"On the domestic front, though FII selling intensity has reduced, the caution is increasing as we near the big event outcome which is resulting in profit booking. The volatility is expected to be heightened in coming sessions, thus it's advisable to traders to stay on the sidelines and not get too aggressive. The weak global cues are further adding to the nervousness and thus markets are likely to remain weak in near future," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.
Forex settlement next step by GIFT to onshore what's offshore
GIFT City to launch foreign currency settlement system chaired by K Rajaraman, IFSCA, supported by RBI and Clearing Corporation of India. System to settle US dollar transactions between IBUs in real-time. CCIL subsidiary to operate FCSS, aiming for operation by October 2024. Other currencies may be added later
Hotels, flights booked out as 'Swift effect' hits Singapore
Taylor Swift's tour in Southeast Asia brings profits to Singapore, causing neighboring countries to be unhappy. The country's efforts to attract international artists have paid off. Online scams target desperate fans. Swift's shows generate significant benefits to Singapore's economy.
Roblox forecasts strong 2024 bookings; in-game spending gets holiday boost
In a positive sign for the gaming industry, the global video game market is anticipated to grow 2.8% this year, as it expects robust sales of Microsoft's Xbox and Sony's PlayStation 5 consoles, according to research firm NewZoo.
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Starting April, you will have to pay more for your Airbnb if you pay in a different currency from listing
Airbnb plans to raise the guest service fee for cross-currency bookings to drive growth in international markets. Starting April 1, guests will be charged an additional fee of up to 2% if they pay in a different currency. This will bring the guest service fee to a maximum of 16.5% of the subtotal.
Gold Rate Today: Yellow metal slips on dollar uptick. Is it time to buy or book profits?
The dollar index (DXY) was trading slightly lower at 102.90 against a basket of six top currencies, up by 0.50 points or 0.49%. It has appreciated 0.32% over the past five trading sessions.
"Pakistan was trying to use cross-border terrorism...we have made that policy irrelevant": Jaishankar on Modi government approach
Jaishankar had said in an earlier interview with that Pakistan's future will be largely determined by its own actions and choices and it is for the neighbouring country to find a way out of its economic troubles. He had referred to India's assistance to Sri Lanka during the economic crisis faced by the island country and said it is a very different relationship.
Cash haul in I-T raids against business group linked to Cong MP crosses Rs 335 crore, counting still on
The cash seizure in the income-tax department's searches against an Odisha-based distillery company, owned by a Congress MP's family, has crossed Rs 335 crore and is the "highest-ever" such haul in a single action conducted by any probe agency in the country, official sources said on Sunday.
Bond market's best month since 1980s sparks cross-asset rally
Investors frantically bid up the price of Treasuries, agency, and mortgage debt, sparking the best month since the 1980s and igniting a powerful pan-markets rally in everything from stocks to credit to emerging markets.
Gold Rate Today: Yellow metal extends gains for 3rd session in a row. Should you buy or book profits?
The December silver futures were trading at Rs 69,035 per kg, higher by Rs 117 or 0.17%. MCX Gold extended gains for the third session in a row
How can corporates use the ETCD platform to hedge their forex? Gaurang Somaiya explains
So, we are suggesting for exporters they should be looking to hedge for short-term but for importers they could be looking at a medium-term perspective.
Sensex ends flat but m-cap of all BSE-listed stocks crosses Rs 300 lakh crore-mark for first time
The 30-share BSE benchmark Sensex declines 33 points or 0.05% to settle at 65,446, while the NSE Nifty50 rises 9 points or 0.05% to end at 19,398. Sector-wise, Nifty Financial Services declines 0.82%, and Nifty Bank falls 0.33%. Nifty Auto surges 1.64% and Nifty FMCG rises 1.82%
MakeMyTrip clocks adjusted operating profit of $ 70.3 million in FY23, up 203% YOY
MakeMyTrip's gross bookings for quarter four of financial year 2023 grew by 80.7% year on year to $1.7 billion. The company's adjusted operating profit was $19 million in quarter four of financial year 2023, compared to $12 million in quarter four of financial year 2022.
Confident of beating industry average growth rates in FY24: Hiral Chandrana, Mastek
While Brexit, uncertainties in the US, and macro factors are still at play, Hiral Chandrana is confident of beating industry average growth rates and focusing on capabilities in data and managed services. "Our US business is roughly around 26% now of the overall mix, we see that growing to about 30- 33% in the next year or so," he said.
Rupee depreciation: Winners and losers
Typically, net exporters, remittance receivers, or those with dollar incomes will gain, while net importers will get hit, when the currency weakens. Those with large foreign loans will see rupee interest costs rise. The equation is more complicated this time though as all currencies have depreciated against the dollar and the rupee may even have gained against some such as the pound. ET looks at the impact on key sectors.
TCS Q1 dollar revenue growth expected to be lower amid cross currency headwinds
According to the average of the estimates by ETIG and eight brokerages, the dollar-denominated revenue of TCS is expected to grow by 1.9% sequentially to $ 6,824.5 mn compared with the 2.6% growth in the previous quarter. A weaker euro and pound against the dollar will affect the reported growth even though the constant currency (CC) growth is expected to be higher at 3-4%.
Crypto markets are weak, but TechPay Coin (TPC) booked a 20%+ rally
Techpay coin showing impressive results amidst weak crypto markets
TripMoney acquires majority stake in BookMyForex
“With this investment, BookMyForex’s suite of services, including currency exchange that offers real-time exchange rate, multi-currency prepaid forex cards, cross border remittances as well as other ancillary products, will be rolled out soon for the benefit of MakeMyTrip and Goibibo customers,” said a statement.
TripMoney, MakeMyTrip’s fintech arm, buys majority stake in foreign exchange services provider, BookMyForex
The company said private equity firm Faering Capital as well as founders and promoters - Nitin Motwani and Sudarshan Motwani will continue to stay invested in BookMyForex.
As new crypto tax rules kick in tomorrow, should you book profits?
The additional transaction tax of 1 per cent on all trades may discourage investors’ interest to trade as it might make it costly and difficult for high-frequency traders and day traders to operate in the space, said Vikas Ahuja, CEO, CrossTower India.
18K likely this week, may trigger some profit booking: Analysts
Technical and derivative analysts expect the Nifty to cross 18,000 this week, continuing its recent momentum that saw the Sensex touch 60,000 last Friday. Analysts expect the index to find support at 17,600-17,700. There is a possibility of profit booking bouts but they don’t see a deep correction.
The use of cash will disappear very fast: Author Eswar Prasad
The rise of these central bank digital currencies, or CBDCs, essentially virtual versions of currencies backed by the state, will be a major push towards hastening the demise of cash, says Eswar S Prasad, the Tolani senior professor of trade policy and professor of economics at Cornell University. It’s one of the several revolutionary changes under way that Prasad delves into lucidly in his new book, The Future of Money: How the Digital Revolution is Transforming Currencies and Finance.
Digital currency clears a path for helicopter money, says Eswar Prasad
Advantages to CBDCs include more transparency and the ability to tackle organized crime, Prasad said in an interview. But the changes will go well beyond technocratic policymaking, with downsides including an erosion of privacy.
Top cryptocurrency prices today: Cardano, Bitcoin see profit booking; Solana soars 18%
Six out of the top 10 cryptocurrencies were trading higher at 9.30 hours IST, led by Dogecoin, Bitcoin and Cardano. However, Solana was back on the gaining track, zooming over as much as 18 per cent.
Ashish Kacholia, 2 others booked profit on this IT stock in June qtr
This was the second straight quarter, when ace investor Ashish Kacholia trimmed his stake in the IT firm. In the April-June period, Kacholia cut it to 1.17 per cent from 1.80 per cent in the March quarter and 2.35 per cent in the December quarter.
When paper money goes digital
We take a closer look at Central Bank Digital Currencies (CBDCs) and why are governments interested in them.
What crossing $10-bn turnover means for HCL Tech
The company won about 700 customers for the software product business and the TCV closed for December quarter 2020 is three times the TCV for December quarter of 2019.
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