Market Bizzz

During the reporting week ended July 15, the fall in the reserves was on account of a decline in the Foreign Currency Assets (FCAs), a major component of the overall reserves, and also in the gold reserves, the central bank said.

Crude oil prices have slipped in the past two weeks and if they fall this week, it will be the third weekly drop — the longest run of declines this year — primarily due to fears that a global slowdown may dampen demand for fuels.

For the April-June quarter, JPL’s consolidated net profit stood at ₹4,530 crore from ₹4,313 crore in the January-March quarter and ₹3,651 crore in the year-ago period, the company said on Friday. Analysts said this signalled an end to the SIM consolidation it witnessed since the increase in tariffs late last year.

While pipelines continue to be strong, given the valuations in the market, public capital market transactions stand deferred. You need predictable conditions to execute transactions. We are seeing strong activity in M&A and there are multiple motivations for that.

​​​The number of Americans enrolling for unemployment benefits rose for a third straight week last week, while factory activity slumped this month, the newest indications the U.S. economy is slowing under the weight of rising interest rates and high inflation.

“The combined reading of the agreement, call option agreements, warrant conversion option and the purchase option does not in any way lead to a conclusion of VCPL acquiring indirect control over NDTV. Thus the direction to VCPL to make an open offer in terms of… SAST Regulations… does not arise,” SAT said in its 91-page order passed on Wednesday.

The partially convertible rupee was fetching 80.01/02 per dollar by 0337 GMT, compared with its close of 79.99 on Wednesday and near its record low of 80.0650 touched on Tuesday.

The proportion of unhedged foreign loans has built up as companies were lulled into complacency about their dollar exposure by RBI’s intervention, which ensured the rupee was less volatile than its emerging-market peers. In recent months however, stock outflows and broad dollar strength has seen the currency’s losses accelerate and sent it to a series of record lows.

Wipro Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 225927.51 Crore) operating in IT Software sector.

The rupee depreciating would ordinarily have been a big positive for the Indian IT industry and goods exporters, helping improve margins and competitiveness.But this time, other developments have partially offset the advantage.