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Dollar on backfoot ahead of key US jobs data

Updated at : 2022-08-05 08:35:01

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Investors await the key U.S. nonfarm payrolls report due at 1230 GMT, which will provide hints of how the U.S. economy is faring. Economists expect an increase of 250,000 jobs for the month of July, after 372,000 were added in June.

RBI moves in to support rupee, unit closes at 79.47

Updated at : 2022-08-05 07:25:02

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“The Rupee’s losses Thursday were exclusive to the local market as the dollar was marginally lower to 106.16,” said a trader from a large bank.“The pressure came from the offshore derivatives market weighing on the rupee,” said the person.

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While the electronics market grew by 25% over pre-pandemic levels, it was price-led after companies hiked price tags by 20% on average. Besides, demand for entry-level products is still weak.

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Zomato had a blockbuster listing on the Indian stock exchanges on July 23 last year, and its shares more than doubled to an all-time high of ₹169.10 on November 16. Shares of Zomato plunged to an all-time low of ₹40.55 on July 25 after the lock-in period for pre-initial public offering (IPO) shares ended.

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"The market is looking for direction after a strong bounce that relieved the deep pessimism that had permeated the markets," Yung-Yu Ma, chief investment strategist at BMO Wealth Management.

Deputy Governor Dave Ramsden told a news conference that there would be a "high bar" to amending gilt sales due to market conditions, once the programme had begun.The BoE does not expect the gilt sales to play a significant role in tightening monetary conditions, relative to raising interest rates or the initial gilt purchases, but wants to ensure it has scope to undertake QE again if needed.

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"The outlook for the industry remains uncertain with continued electronic chip shortage and supply chain disruptions hurting the vehicle productions of OEMs and, in turn, affecting our sales. Also, the trend of acute price increase of raw materials continues to remain so, eroding the bottom-line," said Vikram Mohan, Managing Director of Pricol.

NDTV Q1 net profit up 55.8 pc at Rs 25.81 cr

Updated at : 2022-08-04 23:20:01

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Its Revenue from operations increased 26.72 per cent to Rs 107.74 crore during the quarter under review against Rs 85.02 crore in the year-ago period."The NDTV Group is declaring its best-ever first quarter (Q1) in the last 14 years...," said an earning statement from the company.

In their respective regulatory filings, the three Future group firms informed the exchanges that they have received a letter from Sebi on August 3, 2022, addressed to the Interim Resolution Professional of FRL intimating about the appointment of Choksi & Choksi LLP as a forensic auditor.

JB Pharma net profit down 12% to Rs 105 crore

Updated at : 2022-08-04 23:20:01

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The company reported net profit of Rs 119 crore during corresponding period of the previous year.The company attributed the drop in net profit in the first quarter was due to depreciation on account of acquired brands, along with higher employee, finance and raw material costs weight on the profit.

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