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During FY23, the Indian rupee depreciated against all major currencies except the yen, with losses of about 8.42% against the dollar, 2.14% against the pound, and 6.21% against the euro. However, the INR remains fairly stable against emerging markets and Asian currencies. Bhasnsali believes that the current USD-INR level is ideal for exporters and importers, with limited upside at 83 and a range-bound currency attracting foreign investment in the short to medium-term.

Investor Madhuri Madhusudan Kela bought a 1.04% stake or 500,000 equity shares in Mumbai-based pharmaceutical company Kopran, worth Rs 7.5 crore, according to BSE data. Kela holds four publicly traded stocks worth over Rs 56.4 crore as of March. Other companies she invests in include Bombay Dyeing & Manufacturing Company, Sangam (India), and IRIS Business Services. Kopran has a m-cap of Rs 1,076.39 crore on the BSE, with a 52-week high of Rs 422 and a low of Rs 185.

The market for alcoholic beverages in India is amongst the biggest in the world and is growing year-on-year (YoY) on rising disposable incomes and a young population.

The Indian rupee slipped to a more-than-two-week low against the dollar as the greenback continued to recover on firmer US Treasury yields. The currency and USD/INR premiums are expected to stay volatile until the Federal Reserve’s monetary policy announcement in May. The chance of a 25 bps rate hike from the Fed in June is now at around 30%, compared with less than 6% last week

Amongst that if you look at this top performing fund I would say ICICI Prudential Equity Debt Fund has generated annualized returns of over 28%. If you look at the CAGR of the last three years so that fund has been has been quite a good performance.

Although the Indian Isabgol industry is yet to get organized, market sources assume India is the largest exporter of the Isabgol husk with a contribution of more than 85% of global consumption. However, despite having near monopoly in this medicinal agricultural produce, Indian growers as well as exporters are often exposed to volatility in prices due to various internal and external factors, raising the need for a tool that may provide opportunities in price risk management in the commodity.

The fall in Reliance Industries, HDFC Bank and ICICI Bank, along with fresh foreign fund outflows, also contributed to the lack of investor appetite. The market capitalisation of all listed companies on the BSE declined by Rs 75,465 crore to Rs 265.19 lakh crore.

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The Nifty IT index closed 1.77 per cent down at 26687.45.

In the overseas markets, both gold and silver were trading lower at USD 1,986 per ounce and USD 24.79 per ounce, respectively.Gold prices declined in Asian trading hours on Wednesday due to pullback in US dollar and bond yield, Gandhi said