Fri, Nov 8, 2024 3:40 PM
📢 Benchmark indices close marginally lower today; Nifty around 24,150
A Flip by Shubhangi Gupta
The INR is likely to see further depreciation against the USD in the near term owing to Donald Trump’s presidential win. This has fueled an expectation that the dollar index will remain high, currency experts said. The rupee remains volatile, evident from the dip in India's forex reserves in the last four weeks. Per RBI’s data, forex reserves dipped $3.463 bn during the week ending October 25.
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DCX Systems secures a Rs 460.30 crore order from Lockheed Martin USA for electrical assemblies, building on a prior Rs 16.53 crore deal, and strengthening its position with top global defence contractors. The company's order book stands at Rs 1,937 crore, with a growing pipeline, as India's defence sector is expected to reach $70 billion by 2030.
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Homegrown Welspun Corp on Friday announced the results for the second quarter of fiscal year 2025. The company, a leading player in the steel, sponge iron, and pig iron industry, reported a net profit of ₹287 crore for the quarter, a 26.3% from the same period last fiscal. The company had posted a profit of ₹386.57 crore in the last corresponding quarter.
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