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Sony, 3one4 Capital back WeRize in fresh funding as fintech eyes 2028 IPO
WeRize has raised fresh capital led by Sony Innovation Fund as it scales AI-driven financial products and prepares for a potential 2028 IPO.
FPIs beat mutual funds by rupee returns despite $27 billion exodus
Despite record outflow of $27 bn or ₹2.4 trillion, foreign portfolio investors' totted a rupee return on assets of 7.7% against MFs' 4.4%, thanks to Nifty outperforming broader markets last year. In dollar terms though their returns lag those of MFs.
Fund managers seek easier rules to bring more NRI and global money into GIFT City
Fund industry leaders have urged policymakers to make GIFT City more investor-friendly through omnibus investing, digital onboarding and simpler compliance norms, arguing that India can tap overseas and NRI money more effectively through the financial hub.
Top Gainers & Losers on June 3: TCS, Coforge, PB Fintech, JM Financial, Tata Elxsi, Thermax among top losers today
The Indian stock market fell on June 3, with the Nifty 50 down 0.36% and the Sensex down 0.54%. Rising crude oil prices and escalating Middle East tensions contributed to the decline, impacting investor confidence and market sentiment.
Cabinet approves Rs 10,000 crore for ATF price stabilization fund
The Union Cabinet has approved a Rs 10,000 crore Aviation Turbine Fuel Price Stabilisation Fund. This fund aims to protect airlines and passengers from the sharp rise in ATF prices. The ongoing West Asia crisis has significantly impacted aviation fuel costs. This initiative will help manage the financial strain on the sector.
RBI MPC meeting begins today: Will RBI announce a rate hike as Middle East conflict threatens to drive inflation?
According to wealth management firm DSP Mutual Fund, the central bank is unlikely to announce a rate hike, instead, the bank is likely to follow a step-by-step sequence before pulling the trigger on rates to defend the currency.
INR depreciates further to one-week low as oil stays elevated amid Middle East turmoil
The Indian rupee depreciated further in opening trades on Wednesday as oil prices stay elevated, driving fears of inflationary pressures in future. INR opened at Rs 95.43 per dollar and hit a low of 95.65 so far during the day. Yesterday, rupee fell 15 paise to close at 95.34 against the US dollar, as global crude oil prices jumped and the American currency remained firm amid massive safe-haven inflows. Significant foreign fund outflows also weighed on the investor sentiments. Local equities continue to stay strained in early trades with BSE Sensex trading at 73,866.45, down by 783.39 points and NSE Nifty 50 trading at 23,247.90, down by 235.65 points.
INR settles lower as global crude oil prices stay elevated amid Middle East turmoil
The Indian rupee depreciated 15 paise to close at 95.34 (provisional) against the US dollar on Tuesday, as global crude oil prices jumped and the American currency remained firm amid massive safe-haven inflows. Significant foreign fund outflows also weighed on the investor sentiments. At the interbank foreign exchange market, the rupee opened at 95.16 against the US dollar, then touched an intraday high of 95.03 and a low of 95.37. Indian shares closed higher on Tuesday, staging a rebound after four days of losses as investors assessed mixed signals over the status of U.S.-Iran peace talks and awaited upcoming RBI rate decision. The Nifty 50 gained 100.95 points (0.43%) to close at 23,483.55, while the Sensex rose 382.50 points (0.52%) to settle at 74,649.84.
SBI Cards & Payment Services Ltd eases for fifth straight session
SBI Cards & Payment Services Ltd is quoting at Rs 602.3, down 2.22% on the day as on 13:19 IST on the NSE. The stock tumbled 34.27% in last one year as compared to a 4.38% slide in NIFTY and a 5.12% fall in the Nifty Financial Services index.
Power Finance Corporation Ltd slips for fifth straight session
Power Finance Corporation Ltd is quoting at Rs 413.45, down 1.82% on the day as on 13:19 IST on the NSE. The stock jumped 1.52% in last one year as compared to a 4.38% slide in NIFTY and a 5.12% fall in the Nifty Financial Services index.
Max Financial Services Ltd eases for fifth straight session
Max Financial Services Ltd is quoting at Rs 1605.2, down 1.18% on the day as on 13:19 IST on the NSE. The stock jumped 6.08% in last one year as compared to a 4.38% slide in NIFTY and a 5.12% fall in the Nifty Financial Services index.
HDFC Life Insurance Company Ltd slips for fifth straight session
HDFC Life Insurance Company Ltd is quoting at Rs 581.05, down 0.94% on the day as on 13:19 IST on the NSE. The stock tumbled 23.33% in last one year as compared to a 4.38% slide in NIFTY and a 5.12% fall in the Nifty Financial Services index.