How to invest in foreign currency fixed deposit

Stove Kraft Ltd, manufacturer of kitchen appliances, on Thursday said it has fixed a price band of Rs 384-385 a share for its initial public offer, which will open for subscription on January 25.This would be the fourth company to launch an IPO in this year, after Indian Railway Finance Corporation which concluded on Wednesday, while Indigo Paints and Home First Finance Company are currently open for public subscription.Stove Kraft's initial share-sale offer comprises a fresh issue of equity shares aggregating up to Rs 95 crore and an offer for sale of up to 82.50 lakh equity shares.The offer for sale comprises up to 6,90,700 shares by promoter Rajendra Gandhi; up to 59,300 shares by promoter Sunita Rajendra Gandhi; up to 14,92,080 shares by Sequoia Capital India Growth Investment Holdings and up to 6,007,920 shares by SCI Growth Investments II.At the upper end of the price band, the initial public offer (IPO) is expected to fetch Rs 412.62 crore, Sequoia Capital-backed company said in … [Read more...] about Stove Kraft IPO to open on Jan 25; price band fixed at Rs 384-385 a share

Extending its gains for the third straight session, the Indian rupee added another 6 paise to settle at a near five-month high of 72.99 against the U.S. dollar on Thursday, tracking a weaker American currency overseas and sustained foreign fund inflows. … [Read more...] about Rupee gains 6 paise to close near five-month high of 72.99 against U.S. dollar

Advancing its gains for the third straight session, the rupee scaled a near five-month high of 72.98 against the U.S. dollar on Thursday in line with the buoyant equity market and sustained foreign fund inflows. … [Read more...] about Rupee gains 7 paise to trade near 5-month high of 72.98 against U.S. dollar

The BSE barometer of top 30 firms, S&P BSE Sensex, reached the 50,000-mark for the first time on Thursday, hitting a record high of 50,140 in opening deals. The market capitalisation of listed firms on the BSE, too, touched a record high of Rs 199 trillion.Sensex’s journey from 45,000 to 50,000 currently is the fastest 5,000-point rally in the history of Dalal Street’s oldest equities index and was completed in just 48 days. It’s run from 40,000 to 45,000 levels took 561 days to accomplish.According to experts, Foreign Portfolio Investors have been the main driver behind the market rally in India. After the initial bout of selling in the earlier part of 2020, FPIs have been consistently buying Indian equities so far. As per the data available with the NSE, In the year 2020, FPI made a net equity investment of Rs 1.5 lakh crore into the Indian market.Vijay Chandok - MD & CEO, ICICI Securities said- "Sensex crossing the important milestone of 50,000 is a telling … [Read more...] about Celebrations at Dalal Street; Sensex crosses 50k mark for the first time

"Through the activities of this group, we aim to create the perception of being a direct partner, not a sectoral dialogue partner, for the ASEAN countries and increase the effectiveness of the Turkish business world in the region," Olpak said on Tuesday in an online meeting with journalists. … [Read more...] about Turkey seeks to enhance ties with ASEAN amid COVID-19 economic woes