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Market shrugs off deficit gap, rallies fifth week in a row Market shrugs off deficit gap, rallies fifth week in a row Sustained foreign fund inflows amid positive global cues too supported the key benchmark indices to end in positive terrain for the fifth straight week.
Overseas business margins under pressure: SBI Overseas business margins under pressure: SBI The bank would review RoEs of overseas and domestic business.
Tata Sons cancels divestment of 2.72% stake in TTML Tata Sons cancels divestment of 2.72% stake in TTML Tata Teleservices (Maharashtra) Ltd (TTML) Friday said its promoter Tata Sons has cancelled the offer to divest 2.72 percent stake in the company that was aimed at meeting the minimum public shareholding norms.
Forex reserves down $616.4 mn to $293.69 bn Forex reserves down $616.4 mn to $293.69 bn The country's forex reserves slipped for the second consecutive week, dipping by USD 616.4 million to USD 293.69 billion on a fall in currency assets, the Reserve Bank said Friday.
Rupee down 11 paise at 54.88 on dollar demand Rupee down 11 paise at 54.88 on dollar demand Registering its biggest fall in a week, the rupee on Friday weakened by 11 paise to close at 54.88 against US dollar on good demand of the American currency from importers on speculation that Federal Reserve may slow its stimulus programme, leading to capital inflows drying up here.
India looking to set up feeder fund for IDFs: Chidambaram India looking to set up feeder fund for IDFs: Chidambaram India is exploring the possibility of setting up a London-listed 'feeder fund' for Infrastructure Debt Funds (IDFs), and is looking to work with the UK on increasing institutional investments in the sector, said Finance Minister P Chidambaram.
Foreign investors see Rupee trade at 55-level against dollar in 6 months Foreign investors see Rupee trade at 55-level against dollar in 6 months Foreign investors expect the rupee to trade below 55-level against the US dollar in the next six months even as India's large current account deficit is seen as a major risk.
Sensex rises for 4th day, up 39 pts as ICICI Bank, L&T gain Sensex rises for 4th day, up 39 pts as ICICI Bank, L&T gain The 30-share index rose by 38.79 points, or 0.19 percent, to 20,286.12. It has gained 556 points in last three trading sessions.
Low cost deposit base key to new bank success, says ICRA Low cost deposit base key to new bank success, says ICRA Ratings agency ICRA on Friday said that low-cost current and savings account (CASA) deposit base and some regulatory relief in the gradual build-up of priority sector lending targets hold the key to success of non-banking lenders wishing to become banks.
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