MUMBAI: Tuhin Kanta Pandey, chairman, Sebi on Monday said that independent directors are expected to act responsibly, not make insinuations and keep things vague. The chief markets regulator’s comments came in the context of the recent resignation of Atanu Chakraborty as non-executive chairman of HDFC Bank, the largest private sector lender in the country.The markets…
MUMBAI: The board of markets regulator Sebi on Monday approved some major changes to the disclosure rules governing the chairman, whole time members (WTMs) and other senior officials of the body. These changes, including public disclosure of their own assets and liabilities, and of their family members, were mostly based on the recommendations of the…
MUMBAI: The rupee closed at a record 93.98/$ on Monday, down 35 paise from its previous close of 92.63. In the process, it breached its prior low of 93.73 and briefly slipped past 94 after market hours. Sensing the impact of the West Asia conflict on the Indian economy through inflation, growth and current account…
ANAKAPLLI: Billionaire steel magnate Lakshmi Mittal on Monday launched his most ambitious greenfield project in India, breaking ground on a new steel plant in Andhra Pradesh. ArcelorMittal, where Mittal serves as chairman, will invest over Rs 70,000 crore to build an 8.2 million-tonne steel facility in Anakapalli.The move signals a renewed push into India, where…
Benchmark equity indices Sensex and Nifty plunged sharply on Monday, tracking a brutal global sell-off as the Middle East war deepened into its fourth week, with rising crude prices, persistent foreign fund outflows and a record-low rupee worsening investor nerves.The 30-share BSE Sensex slumped 1,836.57 points, or 2.46 per cent, to close at 72,696.39, after…
The rupee breached the 94-per-dollar mark for the first time ever on Monday but recovered sharply to close flat at 93.53 against the US dollar, instead of ending at a fresh record closing low, amid geopolitical tensions in the Middle East, persistent foreign fund outflows and volatile crude oil prices.At the interbank foreign exchange market,…
US stocks rallied sharply on Monday after President Donald Trump said the United States had held talks with Iran and would postpone planned strikes on Iranian power plants, triggering a relief rebound across global markets and a steep fall in oil prices.The Dow Jones Industrial Average rose 1,021.70 points, or 2.24 per cent, to 46,599.17,…
Gold has corrected significantly by 19% globally and 17% in rupee terms. (AI image) Gold prices crash and how! The unprecedented rise in gold prices over the last few quarters has come to a halt – for now. In fact, gold prices have been on a crashing spree for the last two months, and the…
NEW DELHI: IndiGo Monday appointed Aloke Singh, former MD & CEO of Air India Express, as its chief strategy officer (CSO). Singh had completed his tenure at AI Express on March 19, during which he had overseen the merger of erstwhile AirAsia India into the airline and steered the Tata Group low cost carrier (LCC)…
Asia-Pacific economies entered 2026 on a fragile footing. (AI image) Asia-Pacific economies have entered 2026 on a fragile footing, and the US-Israel-Iran war has exacerbated the risks to GDP growth for economies like China, India, and other major countries in the region, says Moody’s Analytics in its latest report.The global economy has been undergoing a…