Gold Silver Reports (GSR) – India May Give Freer Rein to Rupee After Making U.S. FX List – India increased its purchases of foreign currency last year and has a “significant” trade surplus with the U.S., the Treasury noted in its semi-annual report on foreign-exchange practices released in Washington on Friday. The rupee has been the second-worst performing Asian currency this year, dropping 2.4 percent against the dollar, after strengthening 6.4 percent in 2017.
UCO Bank Set For Biggest Drop Since 2003
Gold Silver Reports (GSR) – UCO Bank Set For Biggest Drop Since 2003 – Shares of the Kolkata-based bank fell as much as 18 percent before trading down about 8 percent as of 11:10 a.m. in Mumbai on Monday. The 10-member Bankex index was little changed.
Indiabulls Ventures Jumps On Heavy Volumes
Gold Silver Reports (GSR) – Indiabulls Ventures Jumps On Heavy Volumes – Shares of the broking services provider jumped as much as 19 percent, the biggest move since Feb. 8, 2017. Trading volume was 16.4 times the 20-day average for this time of day. The stock has risen 45 percent in the past month, compared with the 2.9 percent advance in the Sensex Index.
Bulls Lifting Indian Stocks Send Sensex Above Key Levels
Gold Silver Reports (GSR) – Bulls Lifting Indian Stocks Send Sensex Above Key Levels – The surge in India’s S&P BSE Sensex Index to a six-week high has pushed it above its 50-, 100- and 200-day moving averages for the first time since the week following the federal budget of Feb. 1.
AngloGold CEO Venkatakrishnan Resigns To Join Vedanta Resource
Gold Silver Reports (GSR) – AngloGold CEO Venkatakrishnan Resigns To Join Vedanta Resource – Srinivasan Venkatakrishnan has resigned as CEO of AngloGold Ashanti after 18 years at …
India’s Wholesale Inflation Hits Eight-Month Low In March
Gold Silver Reports (GSR) – India’s Wholesale Inflation Hits Eight-Month Low In March – India’s wholesale price inflation eased to an eight-month low in March on the …
Breaking News; Supreme Court Halts Reliance Communication Asset Sale
Gold Silver Reports (GSR) – Supreme Court Halts Reliance Communication Asset Sale – Shares of the debt-ridden company fall as much as 4.7 percent after the apex court halted its asset sale. HSBC Daisy Investments and other minority shareholders had moved Supreme Court against National Company Law Appellate Tribunal (NCLAT)’s order that allowed State Bank of India-led bankers to sell mortaged assets of Reliance Infratel, the tower unit of Reliance Communications.