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Dollar sags as Fed decision looms; yen surges

Updated at : 2022-11-02 09:20:03

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Investors widely expect the Fed to raise its benchmark interest rate by 75 basis points (bps) on Wednesday, the fourth such increase in a row. But for the December meeting, the futures market is split on the odds of a 75- or 50-bps increase amid recent suggestions from Fed officials of a potential slowdown in the tightening pace.

Amid the ongoing earnings season, EIH, Gati, Andhra Paper, Jamna Auto, KSB, Mahindra and Mahindra Financial Services, Mahindra Holidays, Procter & Gamble Hygiene, Relaxo and Adani Transmission, among others, will be announcing their Q2 results.

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Torrent Power Ltd. key Products/Revenue Segments include Income From Power Supply, Traded Goods and Other Operating Revenue for the year ending 31-Mar-2022.

Aaress has already acquired 1036 acres of land and is in the process of acquiring another 933 acres, the company said in a statement, and added that it has already received environment clearance and water drawl sanctions. The project will add about 10,000 direct and indirect jobs, it said.

Tech Mahindra Q2 profit down 4%, revenue up 21%

Updated at : 2022-11-02 08:35:02

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Revenue for the July-September quarter grew 20.7% year on year to Rs 13,129 crore. On a sequential basis, profit was up 13.6% while revenue grew 3.3%.

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Last month NARCL accelerated the pace of its activities after struggling for over a year to acquire bad loans. It has offered to buy six loans such as Jaypee Infratech, Mittal Corp, Consolidated Construction Consortium Ltd, SSA International, Meenakshi Energy and Helios Photo Voltaic Ltd. In all, it plans to acquire 18 accounts this quarter totalling ₹39,921 crore debt,

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Compared to September, overall crude import went up 5% in October and that from Russia rose 8%, according to Vortexa, an energy intelligence firm that has offices in Singapore and London and tracks oil and gas tankers across the globe, providing freight and inventories analytics.

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In a further positive sign for demand, data on Tuesday from the American Petroleum Institute showed crude stocks fell by about 6.5 million barrels for the week ended Oct. 28, according to market sources.

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Growing expectations the central bank may have enough justification to begin slowing in December -- partly due to data pointing to a weakening economy and a corporate earnings season that has been better than expected -- helped stocks rally in October, with the Dow notching its biggest monthly percentage gain since 1976.

Adani Transmission, P&GHH, Dalmia Bharat, M&M Finance, Relaxo Footwears, Grindwell Norton, Kajaria Ceramics, EIH, Redington India, Triveni Turbine and KSB are among the companies that will announce their results for September 2022 quarter today.

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