Stock Market LIVE: Asian share hint at positive opening; SGX Nifty in green

view original post

Investors have their sights fixed on Washington as the Federal Reserve meets Tuesday and is expected to announce a 75 basis point interest rate increase. More central bank meetings are lined up this week with traders betting on further interest rate hikes from these banks to tame inflation.

20 Sep 2022, 07:43:09 AM IST

Olectra bags order worth ₹185 cr from Thane Municipal Transport Undertaking

Olectra Greentech Limited and Evey Trans Private limited (EVEY) consortium has received a Letter of Award from Thane Municipal Transport Undertaking for supply of 123 electric buses, Olectra said on Monday.

These buses will be supplied on a Gross Cost Contract (GCC) / OPEX model basis for a period of 15 years. The order value is 185 crore, Olectra said in a statement.

EVEY Trans will procure the Electric Buses from Olectra Greentech and shall be delivered in 9 months. Out of these 123 E-buses, 55 are (45 Air Conditioned and 10 Non-AC) 12-metre buses. The other 68 E-buses are (26 Air Conditioned, 42 Non-AC) -9-metres. (ANI)

20 Sep 2022, 07:42:23 AM IST

Bengal cabinet nod for issuing LoI to Adani group for Tajpur deep sea port

The West Bengal cabinet on Monday approved a proposal for issuing a letter of intent to Adani Ports and Special Economic Zone for development of a greenfield deep sea port at Tajpur, paving the way for an estimated investment of 25,000 crore, a senior minister said.

The West Bengal Maritime Board will issue the LoI to the Adani group, who was the highest bidder for the mega project, state Urban Development Minister Firhad Hakim told reporters after the cabinet meeting held in the assembly.

“Following the technical and financial evaluation and completion of all formalities, the cabinet today accorded approval for issuance of letter of intent by West Bengal Maritime Board for development of the Tajpur port to the successful bidder, Adani Ports and Special Economic Zone (SEZ),” an official statement said. (PTI)

20 Sep 2022, 07:33:57 AM IST

Domestic banks have sounded out Vedanta Group to express interest in funding semiconductor plant

Multiple domestic banks have sounded out Vedanta Group to express interest in funding the conglomerate’s proposed 1.54-trillion semiconductor plant in Gujarat, hoping to join an extensive project finance exercise. Lenders  express  interest  in  funding  1.54-tn  Gujarat semiconductor  plant. Troubled by rising interest rates, companies are going slow even on using loans that have already been sanctioned. (Full Story)

20 Sep 2022, 07:30:12 AM IST

Yes Bank moves Bombay HC to direct Dish TV to hold EGM

Yes Bank Ltd has upped the ante in its more than a year-long fight against Subhash Chandra-owned Dish TV India Ltd as the bank has approached the Bombay High Court to direct the satellite TV provider to conduct a special shareholder meeting.

On Monday, a division bench of the high court admitted the petition filed by Yes Bank, which is the largest shareholder in Dish TV, owning 24.78%. The court will hear the petition on Tuesday on whether Dish TV should conduct an extraordinary general meeting (EGM). (Full Story)

20 Sep 2022, 07:29:09 AM IST

Rupee falls 3 paise to close at 79.81 against US dollar

The rupee pared its initial gains and settled 3 paise lower at 79.81 against the US dollar on Monday, weighed down by the strength of the greenback in the overseas market.

A fall in crude oil prices and foreign fund inflows into equity markets, however, restricted the rupee losses.

At the interbank forex market, the local unit opened at 79.70 against the greenback. It witnessed an intra-day high of 79.59 and a low of 79.81 during the session.

It finally ended at 79.81, down 3 paise from its previous close of 79.78. (PTI)

20 Sep 2022, 07:28:38 AM IST

Wall Street ends up thanks to technical rebound and bargain hunt

US stocks closed higher Monday thanks to a technical rebound and bargain-hunting after last week’s nightmarish run.

The Dow Jones industrial average gained 0.64%, the tech-rich Nasdaq was up 0.76% and the S&P 500 ended 0.69% higher.

All three indices had opened in the red Monday morning, before oscillating back and forth much of the day and finally gaining points before the close.

“I think today it really was about bargain hunting,” RegentAtlantic analyst Andy Kapyrin said.

Major Nasdaq stocks, such as Apple ( 2.5%), Meta ( 1.18%) and Nvidia ( 1.39%) all ended higher after struggling for several days.

After flagging Friday, FedEx ( 1.17%) was also in demand Monday, as was Gap ( 4.39%), which was hit by a downturn last week after its deal with designer and rapper Kanye West ended.

Download the App to get 14 days of unlimited access to Mint Premium absolutely free!

Related Posts