PremiumAhead of market opening read top business news, equity market precursors, and economic and banking news updates from India and across the world for6 July, 2022
Listen to this article |
Asian stocks set to come under pressure as recession fears sink oil
Stocks in Asia are set to come under pressure Wednesday after fears of an economic downturn tightened their grip on financial markets, sinking oil and spurring rallies in the dollar and Treasuries. Read more
IPO fundraising to remain subdued in second half of 2022
The second half of 2022 will be another subdued period for equity capital markets, especially for initial public offerings (IPOs) with a volatile stock market being one of many macroeconomic headwinds, experts said. Read more
Paytm Money migrates MF investors to broking business
Paytm Money, which was launched in September 2018 and crossed 6.6 million users in 2020, had in an email to customers on 4 July asked them to comply with additional Know Your Customer (KYC) norms as part of the platform’s shift to the services of BSE StAR, a MF transaction platform. Read more
How the recent customs duty hike affects gold funds
Last week, the government increased customs duty on gold from 10.75% to 15% to curtail imports of the precious metal. This was done with a view to reduce the pressure on the widening current account deficit (CAD), which, in turn, had aided the depreciation of the rupee. Read more
Vodafone eyes MSMEs to drive enterprise biz
Vodafone Idea Ltd plans to offer its mobility and integrated internet of things (IoT) solutions, including cloud telephony and auto-receptionist, to nearly 250,000 micro, small and medium enterprises over the next year, a top company executive said. India’s third-largest telco is eyeing the advisory business to corner the opportunities in this under-tapped segment. Read more
Rupee plunges on worries over deficit
The rupee weakened sharply to a new lifetime low against the US currency on Tuesday amid sustained dollar strength and a record June trade deficit because of rising energy and gold import costs. Read more