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IndiaTV Business: Google News Feed: Digest for September 26, 2023

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Equity benchmark indices Sensex and Nifty started Friday's opening trade on a quiet note after three days of the selling spree. The 30-share BSE Sensex climbed 187.71 points to 66,417.95 in early trade. The Nifty advanced 49.8 points to 19,792.15.
Equity benchmark indices Sensex and Nifty stayed on the back foot for the fourth straight session on Friday as investors offloaded healthcare, consumer durable and commodity stocks amid a weak trend in global markets. Foreign fund outflows and heavy selling in HDFC shares also hit investor sentiments, traders said.

Forex kitty drops USD 867 million to USD 593 billion

Friday 22 September 2023 01:17 PM UTC+00
India's foreign exchange reserves declined USD 867 million to USD 593.037 billion in the week ended September 15, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves dropped USD 4.99 billion to USD 593.90 billion. In October 2021, the country's reserves had touched an all-time high of USD 645 billion.
Bank Holidays in October 2023: Banks are going to be closed for several days in the month of October. As many festivals will fall during this period, if you are planning to get important bank work done, then before that you should definitely find out about the holidays falling in October month.
The users will experience several changes in personal finance from October 1 this year with the deadlines for adding nominees for mutual fund folios, demat account, and trading accounts ending on 30 September 2023.
Tata Projects has announced its partnership with Micron Technology to build a state-of-the-art semiconductor assembly and testing facility in Sanand, Gujarat. In a statement, the company said that the contract granted to Tata Projects solidifies the company's expertise in substantial, eco-friendly infrastructure development within the Indian manufacturing sector.
Foreign Portfolio Investors (FPIs) have pulled out over Rs 10,000 crore from Indian equities in the first three weeks of September, primarily due to rising US interest rates, recessionary fears, and overvalued domestic stocks.
The combined market valuation of eight of the 10 most valued firms plunged by Rs 2,28,690.56 crore in a holiday-shortened last week, with HDFC Bank and Reliance Industries taking the biggest hit, amid an overall weak trend in equities. Last week, the BSE benchmark fell 1,829.48 points or 2.69 per cent, and the Nifty declined 518.1 points or 2.56 per cent.
iPhone maker Apple has plans to scale up production in India by over five-fold to around USD 40 billion (about 3.32 lakh crore) in the next 4-5 years, according to government sources. According to the official, who did not wish to be named, the company has crossed the USD 7 billion production mark in the last financial year.
The Reserve Bank is likely to maintain status quo on policy rates for the fourth time in a row at its bi-monthly monetary policy review meeting early next month, as retail inflation continues to remain high and the US Federal Reserve has decided to keep a hawkish stance for some more time, according to experts. The Reserve Bank had raised the benchmark repo rate to 6.5 per cent on February 8, 2023 and since then it has retained the rates at the same level in view of the stubbornly high retail inflation and certain global factors including elevated crude oil prices in the international market.
Equity benchmark indices Sensex and Nifty started Friday's opening trade on a quiet note after three days of the selling spree. The 30-share BSE Sensex climbed 187.71 points to 66,417.95 in early trade. The Nifty advanced 49.8 points to 19,792.15.
Equity benchmark indices Sensex and Nifty stayed on the back foot for the fourth straight session on Friday as investors offloaded healthcare, consumer durable and commodity stocks amid a weak trend in global markets. Foreign fund outflows and heavy selling in HDFC shares also hit investor sentiments, traders said.

Forex kitty drops USD 867 million to USD 593 billion

Friday 22 September 2023 01:17 PM UTC+00
India's foreign exchange reserves declined USD 867 million to USD 593.037 billion in the week ended September 15, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves dropped USD 4.99 billion to USD 593.90 billion. In October 2021, the country's reserves had touched an all-time high of USD 645 billion.
Bank Holidays in October 2023: Banks are going to be closed for several days in the month of October. As many festivals will fall during this period, if you are planning to get important bank work done, then before that you should definitely find out about the holidays falling in October month.
The users will experience several changes in personal finance from October 1 this year with the deadlines for adding nominees for mutual fund folios, demat account, and trading accounts ending on 30 September 2023.
Tata Projects has announced its partnership with Micron Technology to build a state-of-the-art semiconductor assembly and testing facility in Sanand, Gujarat. In a statement, the company said that the contract granted to Tata Projects solidifies the company's expertise in substantial, eco-friendly infrastructure development within the Indian manufacturing sector.
Foreign Portfolio Investors (FPIs) have pulled out over Rs 10,000 crore from Indian equities in the first three weeks of September, primarily due to rising US interest rates, recessionary fears, and overvalued domestic stocks.
The combined market valuation of eight of the 10 most valued firms plunged by Rs 2,28,690.56 crore in a holiday-shortened last week, with HDFC Bank and Reliance Industries taking the biggest hit, amid an overall weak trend in equities. Last week, the BSE benchmark fell 1,829.48 points or 2.69 per cent, and the Nifty declined 518.1 points or 2.56 per cent.
iPhone maker Apple has plans to scale up production in India by over five-fold to around USD 40 billion (about 3.32 lakh crore) in the next 4-5 years, according to government sources. According to the official, who did not wish to be named, the company has crossed the USD 7 billion production mark in the last financial year.
The Reserve Bank is likely to maintain status quo on policy rates for the fourth time in a row at its bi-monthly monetary policy review meeting early next month, as retail inflation continues to remain high and the US Federal Reserve has decided to keep a hawkish stance for some more time, according to experts. The Reserve Bank had raised the benchmark repo rate to 6.5 per cent on February 8, 2023 and since then it has retained the rates at the same level in view of the stubbornly high retail inflation and certain global factors including elevated crude oil prices in the international market.
Equity benchmark indices Sensex and Nifty stayed on the back foot for the fourth straight session on Friday as investors offloaded healthcare, consumer durable and commodity stocks amid a weak trend in global markets. Foreign fund outflows and heavy selling in HDFC shares also hit investor sentiments, traders said.

Forex kitty drops USD 867 million to USD 593 billion

Friday 22 September 2023 01:17 PM UTC+00
India's foreign exchange reserves declined USD 867 million to USD 593.037 billion in the week ended September 15, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves dropped USD 4.99 billion to USD 593.90 billion. In October 2021, the country's reserves had touched an all-time high of USD 645 billion.
Bank Holidays in October 2023: Banks are going to be closed for several days in the month of October. As many festivals will fall during this period, if you are planning to get important bank work done, then before that you should definitely find out about the holidays falling in October month.
The users will experience several changes in personal finance from October 1 this year with the deadlines for adding nominees for mutual fund folios, demat account, and trading accounts ending on 30 September 2023.
Tata Projects has announced its partnership with Micron Technology to build a state-of-the-art semiconductor assembly and testing facility in Sanand, Gujarat. In a statement, the company said that the contract granted to Tata Projects solidifies the company's expertise in substantial, eco-friendly infrastructure development within the Indian manufacturing sector.
Foreign Portfolio Investors (FPIs) have pulled out over Rs 10,000 crore from Indian equities in the first three weeks of September, primarily due to rising US interest rates, recessionary fears, and overvalued domestic stocks.
The combined market valuation of eight of the 10 most valued firms plunged by Rs 2,28,690.56 crore in a holiday-shortened last week, with HDFC Bank and Reliance Industries taking the biggest hit, amid an overall weak trend in equities. Last week, the BSE benchmark fell 1,829.48 points or 2.69 per cent, and the Nifty declined 518.1 points or 2.56 per cent.
iPhone maker Apple has plans to scale up production in India by over five-fold to around USD 40 billion (about 3.32 lakh crore) in the next 4-5 years, according to government sources. According to the official, who did not wish to be named, the company has crossed the USD 7 billion production mark in the last financial year.
The Reserve Bank is likely to maintain status quo on policy rates for the fourth time in a row at its bi-monthly monetary policy review meeting early next month, as retail inflation continues to remain high and the US Federal Reserve has decided to keep a hawkish stance for some more time, according to experts. The Reserve Bank had raised the benchmark repo rate to 6.5 per cent on February 8, 2023 and since then it has retained the rates at the same level in view of the stubbornly high retail inflation and certain global factors including elevated crude oil prices in the international market.
The benchmark indices are trading lower in the pre-opening session amid mixed global cues on Monday. The 30-share BSE Sensex fell 136.61 points to 65,872.54. The Nifty dipped 39.7 points to 19,634.55.
Equity benchmark indices Sensex and Nifty stayed on the back foot for the fourth straight session on Friday as investors offloaded healthcare, consumer durable and commodity stocks amid a weak trend in global markets. Foreign fund outflows and heavy selling in HDFC shares also hit investor sentiments, traders said.

Forex kitty drops USD 867 million to USD 593 billion

Friday 22 September 2023 01:17 PM UTC+00
India's foreign exchange reserves declined USD 867 million to USD 593.037 billion in the week ended September 15, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves dropped USD 4.99 billion to USD 593.90 billion. In October 2021, the country's reserves had touched an all-time high of USD 645 billion.
Bank Holidays in October 2023: Banks are going to be closed for several days in the month of October. As many festivals will fall during this period, if you are planning to get important bank work done, then before that you should definitely find out about the holidays falling in October month.
The users will experience several changes in personal finance from October 1 this year with the deadlines for adding nominees for mutual fund folios, demat account, and trading accounts ending on 30 September 2023.
Tata Projects has announced its partnership with Micron Technology to build a state-of-the-art semiconductor assembly and testing facility in Sanand, Gujarat. In a statement, the company said that the contract granted to Tata Projects solidifies the company's expertise in substantial, eco-friendly infrastructure development within the Indian manufacturing sector.
Foreign Portfolio Investors (FPIs) have pulled out over Rs 10,000 crore from Indian equities in the first three weeks of September, primarily due to rising US interest rates, recessionary fears, and overvalued domestic stocks.
The combined market valuation of eight of the 10 most valued firms plunged by Rs 2,28,690.56 crore in a holiday-shortened last week, with HDFC Bank and Reliance Industries taking the biggest hit, amid an overall weak trend in equities. Last week, the BSE benchmark fell 1,829.48 points or 2.69 per cent, and the Nifty declined 518.1 points or 2.56 per cent.
iPhone maker Apple has plans to scale up production in India by over five-fold to around USD 40 billion (about 3.32 lakh crore) in the next 4-5 years, according to government sources. According to the official, who did not wish to be named, the company has crossed the USD 7 billion production mark in the last financial year.
The Reserve Bank is likely to maintain status quo on policy rates for the fourth time in a row at its bi-monthly monetary policy review meeting early next month, as retail inflation continues to remain high and the US Federal Reserve has decided to keep a hawkish stance for some more time, according to experts. The Reserve Bank had raised the benchmark repo rate to 6.5 per cent on February 8, 2023 and since then it has retained the rates at the same level in view of the stubbornly high retail inflation and certain global factors including elevated crude oil prices in the international market.
The benchmark indices are trading lower in the pre-opening session amid mixed global cues on Monday. The 30-share BSE Sensex fell 136.61 points to 65,872.54. The Nifty dipped 39.7 points to 19,634.55.

Forex kitty drops USD 867 million to USD 593 billion

Friday 22 September 2023 01:17 PM UTC+00
India's foreign exchange reserves declined USD 867 million to USD 593.037 billion in the week ended September 15, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves dropped USD 4.99 billion to USD 593.90 billion. In October 2021, the country's reserves had touched an all-time high of USD 645 billion.
Bank Holidays in October 2023: Banks are going to be closed for several days in the month of October. As many festivals will fall during this period, if you are planning to get important bank work done, then before that you should definitely find out about the holidays falling in October month.
The users will experience several changes in personal finance from October 1 this year with the deadlines for adding nominees for mutual fund folios, demat account, and trading accounts ending on 30 September 2023.
Tata Projects has announced its partnership with Micron Technology to build a state-of-the-art semiconductor assembly and testing facility in Sanand, Gujarat. In a statement, the company said that the contract granted to Tata Projects solidifies the company's expertise in substantial, eco-friendly infrastructure development within the Indian manufacturing sector.
Foreign Portfolio Investors (FPIs) have pulled out over Rs 10,000 crore from Indian equities in the first three weeks of September, primarily due to rising US interest rates, recessionary fears, and overvalued domestic stocks.
The combined market valuation of eight of the 10 most valued firms plunged by Rs 2,28,690.56 crore in a holiday-shortened last week, with HDFC Bank and Reliance Industries taking the biggest hit, amid an overall weak trend in equities. Last week, the BSE benchmark fell 1,829.48 points or 2.69 per cent, and the Nifty declined 518.1 points or 2.56 per cent.
iPhone maker Apple has plans to scale up production in India by over five-fold to around USD 40 billion (about 3.32 lakh crore) in the next 4-5 years, according to government sources. According to the official, who did not wish to be named, the company has crossed the USD 7 billion production mark in the last financial year.
The Reserve Bank is likely to maintain status quo on policy rates for the fourth time in a row at its bi-monthly monetary policy review meeting early next month, as retail inflation continues to remain high and the US Federal Reserve has decided to keep a hawkish stance for some more time, according to experts. The Reserve Bank had raised the benchmark repo rate to 6.5 per cent on February 8, 2023 and since then it has retained the rates at the same level in view of the stubbornly high retail inflation and certain global factors including elevated crude oil prices in the international market.
The benchmark indices are trading lower in the pre-opening session amid mixed global cues on Monday. The 30-share BSE Sensex fell 136.61 points to 65,872.54. The Nifty dipped 39.7 points to 19,634.55.
Indian stock markets experienced a day characterized by cautious trading and a largely rangebound session, ultimately concluding Monday's trading with minimal gains. Despite the relatively flat performance of benchmark indices, the broader markets exhibited strength, offering some relief to investors.

Forex kitty drops USD 867 million to USD 593 billion

Friday 22 September 2023 01:17 PM UTC+00
India's foreign exchange reserves declined USD 867 million to USD 593.037 billion in the week ended September 15, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves dropped USD 4.99 billion to USD 593.90 billion. In October 2021, the country's reserves had touched an all-time high of USD 645 billion.
Bank Holidays in October 2023: Banks are going to be closed for several days in the month of October. As many festivals will fall during this period, if you are planning to get important bank work done, then before that you should definitely find out about the holidays falling in October month.
The users will experience several changes in personal finance from October 1 this year with the deadlines for adding nominees for mutual fund folios, demat account, and trading accounts ending on 30 September 2023.
Tata Projects has announced its partnership with Micron Technology to build a state-of-the-art semiconductor assembly and testing facility in Sanand, Gujarat. In a statement, the company said that the contract granted to Tata Projects solidifies the company's expertise in substantial, eco-friendly infrastructure development within the Indian manufacturing sector.
Foreign Portfolio Investors (FPIs) have pulled out over Rs 10,000 crore from Indian equities in the first three weeks of September, primarily due to rising US interest rates, recessionary fears, and overvalued domestic stocks.
The combined market valuation of eight of the 10 most valued firms plunged by Rs 2,28,690.56 crore in a holiday-shortened last week, with HDFC Bank and Reliance Industries taking the biggest hit, amid an overall weak trend in equities. Last week, the BSE benchmark fell 1,829.48 points or 2.69 per cent, and the Nifty declined 518.1 points or 2.56 per cent.
iPhone maker Apple has plans to scale up production in India by over five-fold to around USD 40 billion (about 3.32 lakh crore) in the next 4-5 years, according to government sources. According to the official, who did not wish to be named, the company has crossed the USD 7 billion production mark in the last financial year.
The Reserve Bank is likely to maintain status quo on policy rates for the fourth time in a row at its bi-monthly monetary policy review meeting early next month, as retail inflation continues to remain high and the US Federal Reserve has decided to keep a hawkish stance for some more time, according to experts. The Reserve Bank had raised the benchmark repo rate to 6.5 per cent on February 8, 2023 and since then it has retained the rates at the same level in view of the stubbornly high retail inflation and certain global factors including elevated crude oil prices in the international market.
The benchmark indices are trading lower in the pre-opening session amid mixed global cues on Monday. The 30-share BSE Sensex fell 136.61 points to 65,872.54. The Nifty dipped 39.7 points to 19,634.55.
Indian stock markets experienced a day characterized by cautious trading and a largely rangebound session, ultimately concluding Monday's trading with minimal gains. Despite the relatively flat performance of benchmark indices, the broader markets exhibited strength, offering some relief to investors.
The users will experience several changes in personal finance from October 1 this year with the deadlines for adding nominees for mutual fund folios, demat account, and trading accounts ending on 30 September 2023.
Tata Projects has announced its partnership with Micron Technology to build a state-of-the-art semiconductor assembly and testing facility in Sanand, Gujarat. In a statement, the company said that the contract granted to Tata Projects solidifies the company's expertise in substantial, eco-friendly infrastructure development within the Indian manufacturing sector.
Foreign Portfolio Investors (FPIs) have pulled out over Rs 10,000 crore from Indian equities in the first three weeks of September, primarily due to rising US interest rates, recessionary fears, and overvalued domestic stocks.
The combined market valuation of eight of the 10 most valued firms plunged by Rs 2,28,690.56 crore in a holiday-shortened last week, with HDFC Bank and Reliance Industries taking the biggest hit, amid an overall weak trend in equities. Last week, the BSE benchmark fell 1,829.48 points or 2.69 per cent, and the Nifty declined 518.1 points or 2.56 per cent.
iPhone maker Apple has plans to scale up production in India by over five-fold to around USD 40 billion (about 3.32 lakh crore) in the next 4-5 years, according to government sources. According to the official, who did not wish to be named, the company has crossed the USD 7 billion production mark in the last financial year.
The Reserve Bank is likely to maintain status quo on policy rates for the fourth time in a row at its bi-monthly monetary policy review meeting early next month, as retail inflation continues to remain high and the US Federal Reserve has decided to keep a hawkish stance for some more time, according to experts. The Reserve Bank had raised the benchmark repo rate to 6.5 per cent on February 8, 2023 and since then it has retained the rates at the same level in view of the stubbornly high retail inflation and certain global factors including elevated crude oil prices in the international market.
The benchmark indices are trading lower in the pre-opening session amid mixed global cues on Monday. The 30-share BSE Sensex fell 136.61 points to 65,872.54. The Nifty dipped 39.7 points to 19,634.55.
Indian stock markets experienced a day characterized by cautious trading and a largely rangebound session, ultimately concluding Monday's trading with minimal gains. Despite the relatively flat performance of benchmark indices, the broader markets exhibited strength, offering some relief to investors.

RBI imposes penalty on SBI, Indian Bank, Punjab & Sind Bank

Monday 25 September 2023 04:52 PM UTC+00
The Reserve Bank on Monday said it has imposed penalties on three state-owned banks, including SBI and Indian Bank, for violation of various regulatory norms. A penalty of Rs 1.3 crore has been imposed on the State Bank of India for non-compliance with certain directions issued by the RBI on 'Loans and Advances – Statutory and Other Restrictions' and 'Guidelines on Management of Intra-Group Transactions and Exposures', it said in a statement.
The small-cap equity index is firing on all cylinders. Given the recent run-up, several small-cap stocks have turned out to be multibaggers, resulting in wealth for investors. In the equity market, multibagger stocks are nothing but equity shares that generate higher returns; usually, they multiply in price.
The users will experience several changes in personal finance from October 1 this year with the deadlines for adding nominees for mutual fund folios, demat account, and trading accounts ending on 30 September 2023.
Tata Projects has announced its partnership with Micron Technology to build a state-of-the-art semiconductor assembly and testing facility in Sanand, Gujarat. In a statement, the company said that the contract granted to Tata Projects solidifies the company's expertise in substantial, eco-friendly infrastructure development within the Indian manufacturing sector.
Foreign Portfolio Investors (FPIs) have pulled out over Rs 10,000 crore from Indian equities in the first three weeks of September, primarily due to rising US interest rates, recessionary fears, and overvalued domestic stocks.
The combined market valuation of eight of the 10 most valued firms plunged by Rs 2,28,690.56 crore in a holiday-shortened last week, with HDFC Bank and Reliance Industries taking the biggest hit, amid an overall weak trend in equities. Last week, the BSE benchmark fell 1,829.48 points or 2.69 per cent, and the Nifty declined 518.1 points or 2.56 per cent.
iPhone maker Apple has plans to scale up production in India by over five-fold to around USD 40 billion (about 3.32 lakh crore) in the next 4-5 years, according to government sources. According to the official, who did not wish to be named, the company has crossed the USD 7 billion production mark in the last financial year.
The Reserve Bank is likely to maintain status quo on policy rates for the fourth time in a row at its bi-monthly monetary policy review meeting early next month, as retail inflation continues to remain high and the US Federal Reserve has decided to keep a hawkish stance for some more time, according to experts. The Reserve Bank had raised the benchmark repo rate to 6.5 per cent on February 8, 2023 and since then it has retained the rates at the same level in view of the stubbornly high retail inflation and certain global factors including elevated crude oil prices in the international market.
The benchmark indices are trading lower in the pre-opening session amid mixed global cues on Monday. The 30-share BSE Sensex fell 136.61 points to 65,872.54. The Nifty dipped 39.7 points to 19,634.55.
Indian stock markets experienced a day characterized by cautious trading and a largely rangebound session, ultimately concluding Monday's trading with minimal gains. Despite the relatively flat performance of benchmark indices, the broader markets exhibited strength, offering some relief to investors.

RBI imposes penalty on SBI, Indian Bank, Punjab & Sind Bank

Monday 25 September 2023 04:52 PM UTC+00
The Reserve Bank on Monday said it has imposed penalties on three state-owned banks, including SBI and Indian Bank, for violation of various regulatory norms. A penalty of Rs 1.3 crore has been imposed on the State Bank of India for non-compliance with certain directions issued by the RBI on 'Loans and Advances – Statutory and Other Restrictions' and 'Guidelines on Management of Intra-Group Transactions and Exposures', it said in a statement.
The small-cap equity index is firing on all cylinders. Given the recent run-up, several small-cap stocks have turned out to be multibaggers, resulting in wealth for investors. In the equity market, multibagger stocks are nothing but equity shares that generate higher returns; usually, they multiply in price.
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