Rupee Surges to 8-Years High against Dollar

The Indian Rupee, on Wednesday, surged to its highest level in nearly 8 years. The Rupee traded 43 to a dollar as banks sold the US unit to raise funds to meet statutory reserve requirements.
According to reports, ending at 43.065/075 on Tuesday, the rupee was at 42.925/935 per dollar at 10:15 am on Wednesday, off an early high of 42.84, it’s strongest since June 1, 1999, when it traded at 42.83.
The Rupee has gained about 9.5 % since hitting a 3-year low last July, and the central bank is thought to be uneasy with the rupee's pace of appreciation.

Indian Hotels All Set To Buy US Hotel

According to BSE reports, the Tata Group Company, Indian Hotels, through its 100% subsidiary company, is all set to take over San Francisco based Hotel Campton Place in a deal of expected value $60

Cement Shares Drop Precipitously

Cement Shares Drop Precipitously

The shares in cement firms dropped precipitously on Wednesday, after the government’s trashing some duties to help imports and rein in domestic prices.

Sony Drops PSP Prices

Sony Computer Sony Computer EntertainmentEntertainment America (SCEA

HDFC Hikes Lending Rates

HDFC BankIndia’s largest house finance banking company HDFC has announced raised lending rates by 75 basis points for new loan seekers, and on the other hand, the interest rate is up 50 bps for the existing customers.

The 50 bps hike will translate into a Rs 32 hike each month on a loan of Rs 1 lakh borrowed for 20 years. Yet HDFC’s after hike rates are cheaper than its nearest rival ICICI Bank which annunciated a rate hike last Week. Last week, ICICI Bank increased its benchmark advance rate to 15.75%, while Yes Bank hiked its PLR to 14.75%. However, the state-owned banks are yet to consider their lending rates.

Organization’s Health-Unawareness Among CEOs

According to survey, “In the Dark: What many boards and executives still don’t know about the health of their businesses”, lack of high-quality non-financial information has caused many board members and senior executives to be unaware of the overall health of their organization.

The second edition of survey, released on Tuesday, is developed by Deloitte Touche Tohmatsu in conjunction with the Economist Intelligence Unit. The 78% of the CEOs surveyed say that just financial indicators do not adequately capture their company’s strengths and weaknesses.

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News in Focus

HDFC Bank Share Price Declines 0.8 Percent; Immediate Supports at Rs 1,926

HDFC Bank share price declined 0.8 percent on Tuesday. The stock opened the session at Rs 1,982 and that remained the high for the day.

The Top Online Casinos and Sports Betting Sites that Accept Indian Payment Methods

The e-commerce community has grown in leaps and bounds over the past few years; especially when discussing the sheer variety of online payments methods that Indian users can employ.

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Aditya Birla Fashion Share Price Target at Rs 95: Sharekhan Research

Mirae Asset Sharekhan has issued a BUY recommendation for Aditya Birla Fashion and Retail Ltd (ABFRL), with a revised price target of Rs. 95.

Trade Setup for 10 June: NSE Nifty eyes 25200 level, CHINA-US scheduled to meet for Trade Discussions

The market has been continuing its previous momentum following the RBI's actions, gaining further strength and maintaining upward movement.