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The Federal Reserve, which had in December, signalled three rate hikes of 25 basis points in 2022, is widely expected to maintain a hawkish stance at its upcoming policy statement, given that inflation is currently near 40-year highs in the country.

The rupee weakened sharply against the greenback on Monday as a combination of factors, including a selloff in domestic equities, rise in the US dollar index and elevated crude oil prices globally soured sentiment for the Indian currency, dealers said. The partially convertible rupee settled at 74.5950 per US dollar as against 74.4150 per US dollar at the previous close. The Indian currency, which opened at 74.4300/$1, moved in a band of 74.3150-74.6875/$1 in the course of the day.

​​ Net revenue increased to Rs 422.17 crore during the October-December 2021 quarter as compared to Rs 221.50 crore in the year-ago period.

Its flagship Fortune brand of edible oils is the largest selling brand in the category controlling nearly a fifth of the organised market, and is among the top five fastest growing packaged food companies in the country in terms of revenue, according to a report by the industry tracker Technopak.

The offer-for-sale comprises sale of up to 1.74 crore shares by Rhine Holdings Ltd; up to 7.23 lakh shares by Kedaara Capital Alternative Investment Fund-Kedaara Capital AIF I; and up to 1.81 crore shares by Ravi Modi Family Trust.

“One has to be very careful in the consumer facing companies which are using commodity as a huge part of the costs as the commodity prices are going up. So barring those companies, one can see volume growth in the consumer companies.”

The Payments Council of India (PCI), the industry body for the digital payments ecosystem in the country, has written to the government urging it to roll back the zero MDR regime for UPI and Rupay debit cards transactions.

The ideal position would be to have at least 63 percent of total exposure of the External Commercial Borrowings (ECBs) hedged at the system level , said a research note from an RBI economist. Rules have however been evolving depending on the prevailing market conditions.

In terms of price movement, all of the top 50 cryptocurrencies corrected quite a bit. Near Protocol, Solana, Polkadot, Shiba Inu had a sizable decline over the previous week.

Ravindra Dhariwal, one of Future Retail’s three independent directors, described Amazon’s offer as a “smokescreen”, and said it was untenable as “all the diligence has been done to death—by Reliance Retail—and by the banks…”.