This blog will brief you on about what’s going on in India and should it worry you. Staying up to date on the latest business news and recent business news in India is crucial.
Let’s begin.
1. Rupees Decline Against the Dollar
In the recent development in the foreign exchange market, the rupee has fallen by 2 paise reaching 83.95 against the US dollar in the early trade. The Reserve Bank of India (RBI) sold its reserves of dollars to prevent the rupee from reaching record lows but they failed. Analysts and economists are constantly, monitoring the market to prevent the rupee, from further declining.
2. National Infrastructure to Raise an IPO
An IPO of 1600 crore INR is likely to be raised by the National Infrastructure Trust. They have already begun planning to implement this. This will boost India’s infrastructural development by raising investment, from both the private and public sectors. Funds raised through this IPO will be essential for ongoing projects across all over India.
3. The Fall in Gold Prices Continue
Gold prices have seen a fall in their prices lately. Currently gold has dropped to ₹72,000 per 10 grams. While most are worried about these developments most analysts suggest this is a good opportunity to buy the dip. There are still possibilities of fluctuations as many factors are involved here.
4. SME IPOs the New Trend
Recently people have turned in favor of investing in Small and Medium Enterprises. These Enterprises have gained significant influence in the market. However, analysts suggest that one should practice caution while investing in SMEs as they provide great returns at a cost of greater risk.
5. UPS— Unified Pension Scheme
Nirmala Sitaraman, The Finance Minister of India recently clarified that this new scheme Unified Pension Scheme is not a rollback of the currently existing National Pension System (NPS). Rather it aims to provide a better solution by enhancing the social security net without affecting the benefits given by NPS.
6. Stocks Reaching Their All-Time High
Many stocks are reaching their 52-week High. Stocks like Shriram Finance and Tech Mahindra have reached their 52-week high and showed a strong market performance. Shriram Finance is planning to expand its market and strengthen its financial health by raising 1.5 billion dollars from foreign markets.
7. The Impact of Jan Dhan Yojana
The Pradhan Mantri Jan Dhan Yojana (PMJDY) has given India’s banking a new face by completely transforming it. It has significantly increased the number of bank account holders in India, especially among rural people who could not access them before. This has brought stability in terms of finance and ease of access in the whole country.
8. Reliance Shares are Falling
Reliance Home Finance and Reliance Power shares have gone down and hit their lowest-level circuits. This shows that investors are constantly selling their holdings of it. These behavior changes may be tied to recent news around the company and market concerns regarding their financial health and growth prospects.
9. Aeron Composite IPO Opens Today
The much-awaited Aeron composite IPO is finally here. It opened at a value of ₹56.10 crores. There is a strong demand for this IPO and many people are subscribing to it, especially retail investors. This has led to over-subscription of this IPO.
10. Stock Market Performance
The stock market is reaching its record high once again. After the recent fall in Nifty and Sensex, people were left wondering when will stock market recover. It looks like the time has come as Nifty 50 closed at 25,042.05 and Sensex closed at 81,783.68. Many people are taking this opportunity to make their share of gain while the opportunity lasts.
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This article is written by Krishna Jindal.