The currency had closed Monday at 93.13/$. The rollback came after markets ended trading Monday. Bank treasury heads said they remain cautious and are holding back from offering non-deliverable forward (NDF) contracts to corporates, as RBI is likely monitoring such trades. The dollar-rupee forward premiums rose, increasing hedging costs, with the 1-year forward yield up 10 basis points at 3.10%.Read More
“Without pencilling in any re-rating, large private banks present an attractive opportunity for investors today,” said DSP in a note. “More price decline will make them more attractive.”Read More
HCLTech’s revenue growth guidance for FY27 is significantly lower than the actual FY26 growth, implying the effect of growing dependence of clients on operating efficiencies driven by ever rising capabilities of the artificial intelligence (AI) models and agents. HCLTech estimates a deflation or reduction of 2-3% in revenue from traditional IT services (non-AI based) per annum driven by the AI disruption.Read More
The four-member expert committee on settlement orders is chaired by Jai Narayan Patel, former chief justice of the Calcutta High Court. The other members are N Venkatram, country chair of Canadian pension fund CDPQ; SK Mohanty, former Sebi member; and Sarit Jafa, former deputy comptroller and auditor general.Read More
The West Asia conflict has accelerated INR depreciation, necessitating a rethink of India’s economic fundamentals. Short-term measures include raising domestic interest rates and equalizing onshore tax regulations for asset classes. Longer-term, building world-class universities, encouraging local tourism, and potentially redesigning the INR symbol are proposed to foster resilience and economic growth.Read More
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