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Rupee depreciates by 25% since December 2014

Updated at : 2022-07-18 20:30:01

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The exchange rate of the Indian Rupee against the dollar was Rs 78.94 per dollar as of June 30, 2022, Finance Minister Nirmala Sitharaman said in a written reply.The rupee on Monday ended the session 16 paise lower at 79.98 (provisional) amid a surge in crude oil prices and unrelenting foreign fund outflows.

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Brent crude futures for September settlement rose by $4.41, or 4.26%, to $105.65 a barrel by 1235 GMT, having gained 2.1% on Friday. U.S. West Texas Intermediate (WTI) crude futures for August delivery were up $4.11, or 4.191%, at $101.76 after rising by 1.9% in the previous session.

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TCM, where LIC owned a 10.60 per cent stake as of June 30, saw Shilpa Porinju Veliyath as a public shareholding with over 1 per cent stake. Shilpa held 1,00,000 shares or a 1.34 per cent stake in the company as of June 30. She was not among public shareholders of the company in the past, with over a per cent stake.

"All the market infrastructure institutions, companies who have listed/are intending to list their securities, other intermediaries and persons who are dealing in the securities market are hereby informed that the fees and other charges payable to Sebi shall be subject to GST (Goods and Services Tax) at the rate of 18 per cent with effect from July 18, 2022," it added.

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These instruments will be governed by rules made by the Securities and Exchange Board of India (Sebi), according to an official notification issued on Friday.The Social Stock Exchange (SSE) is a novel concept in India and such a bourse is meant to serve private and non-profit sector providers by channelling greater capital to them.

The Nifty Realty index was trading 0.44 per cent up at 421.85.

Hold ACC, target price Rs 2225: Emkay Global

Updated at : 2022-07-18 18:20:01

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ACC Ltd., incorporated in the year 1936, is a Large Cap company (having a market cap of Rs 40767.68 Crore) operating in Cement sector.

“I do believe that we will hit the billion-dollar run rate between quarter two and quarter three of this year, we had guided that last September and maintained that. Lastly, we had said $1.5 billion by one of the quarters in FY25, and we are retaining that as well.”

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Edible oil firm Adani Wilmar, which sells its products under Fortune brand, on Monday announced reduction in cooking oil prices by up to Rs 30 per litre amid fall in global prices. Fortune rice bran oil price has been revised downwards to Rs 210 per litre from Rs 225 per litre, while the MRP of groundnut oil has been cut to Rs 210 per litre from Rs 220 per litre.

"We expect a deterioration in rural and urban demand, weakness in BPC and nutrition portfolio and downtrading across the board. We see market share gains for HUL but continued inflationary pressures partly offset by pricing. We forecast 20 per cent YoY growth in Home care, 11 per cent YoY growth in BPC and 12 per cent YoY revenue growth in F&R portfolio," Kotak said.

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