Briefly Business: FMC to hold stakeholders meet on January 21

FMC to hold stakeholders meet on January 21

Kochi: Commodity markets regulator Forward Markets Commission (FMC) will hold a stakeholders meeting for rubber, pepper and cardamom here on January 21.

Forex reserves up by $1.26 billion

Mumbai: The country's foreign exchange reserves rose by $1.26 billion to $295.25 billion for the week ended January 11, on the back of sharp rise in currency assets, the Reserve Bank of India said on Friday.

Gold investments no hedge : RBI Dy Guv

Mumbai: Terming investment in gold as a speculative activity and not hedge against inflation, RBI Deputy Governor KC Chakrabarty said high returns the precious metal offers only reflects high risks associated with it.

SAIL FPO soon, says steel secretary

SINGAPORE: Disinvestment of government's 10.82 per cent stake in SAIL will happen soon, said steel secretary DRS Chaudhary here said wooing the investors here seeking their participation in the issue.

Rupee bounces back to 53 level

Mumbai: The rupee on Friday gained a staggering 68 paise to 53.71 to hit a two-and-a-half-month high on sustained selling of dollar by exporters, after partial deregulation of diesel prices. This is the second biggest rise since September 21 last year, when rupee had gained by 93 paise, or 1.71 per cent.

... tightens takeover rules

Chennai: To safeguard the interest of small shareholders vis-a-vis promoters and other large investors during takeovers, market regulator Sebi today brought the entities holding more than five per cent stake under its insider trading regulations.

HDFC Bank net up 30%

Mumbai: HDFC Bank has posted a 30 per cent rise in net profit to Rs 1,859.1 crore for the October-December quarter as against Rs 1,429.66 crore in the same period last year, led by higher loan growth, better fee income and stable asset quality. The bank's net interest income moved up 21.9 per cent to Rs 3,798.9 crore while non-interest income grew 26.7 per cent to Rs 1,798.9 crore.

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