NDTV Profit Pulse On April 25: Top 8 Stories At 8 P.M. Under 8 Minutes
Here’s a quick roundup of today’s key headlines.
The day's top news includes India's foreign exchange reserves rising to the highest level since early November, and investors' wealth declining nearly Rs 2 lakh crore as markets declined amid escalation of India-Pakistan tensions. Also, a slew of key fourth quarter earnings were in focus.
Here’s a quick roundup of today’s top stories.
Forex Reserves Increase For Seventh Straight Week
India's foreign exchange reserves rose to the highest level since early November to $686.14 billion for the period ended April 18, according to data from the Reserve Bank of India. The country's forex kitty swelled by nearly $8 billion over the previous reporting week, the seventh consecutive advance.
Check full data here.
NSE, BSE End Lower Amid India-Pakistan Tensions
Investors' wealth declined Rs 1.92 lakh crore to Rs 190.15 lakh crore. The benchmark equity indices extended losses to the second day on Friday as investors pulled their money out on anticipation of escalation in tension between India and Pakistan.
The NSE Nifty 50 closed 207.35 points or 0.86% down at 24,039.35, while the BSE Sensex ended 588.90 points or 0.74% lower at 79,212.53.
Read full details here.
Apple Aims To Build Most iPhones For US In India
Apple Inc. aims to import most of the iPhones it sells in the US from India by the end of next year, accelerating a shift beyond China to mitigate risks related to tariffs and geopolitical tensions.
Read full details here.
Samsung To Invest Additional Rs 1,000 Crore In Tamil Nadu
South Korean electronics major Samsung will make additional investment of Rs 1,000 crore in their existing facility in Tamil Nadu's Sriperumbudur. This investment will create 100 more jobs, according to T R B Rajaa, Tamil Nadu Minister of Industries.
Read full details here.
Raja Iqbal Singh Elected Delhi's New Mayor
Delhi gets a new mayor as BJP’s Raja Iqbal Singh was elected the new head of the Municipal Corporation of Delhi, marking the party's return to power in the civic body after a two-year gap. Singh secured a comfortable victory with 133 votes, benefiting from the Aam Aadmi Party’s boycott of the election and the Congress's diminished presence in the corporation.
Know all about Delhi's New Mayor.
US Stock Rally Stalls On Conflicting Tariff Signals
A solid week on Wall Street is ending on a quieter note, with stocks churning as investors digested the gains of the past few sessions amid conflicting signals on whether the US-China trade spat is de-escalating.
ED Seeks Lookout Circular Against Promoters Jaggi Brothers
The Enforcement Directorate has formally asked the Bureau of Immigration to issue a Look-Out Circular against Gensol Engineering Ltd.'s promoters Puneet Singh Jaggi and Anmol Singh Jaggi in connection with an ongoing probe under the Foreign Exchange Management Act., according to people familiar with the matter.
Read more details on the Gensol crisis here.
Ola Electric Says ‘Not Aware’ Of Closure Action Against Stores In Maharashtra
Ola Electric Mobility Ltd. is “not aware” of a closure notice against its stores in Maharashtra, a move that sent its stock into a tailspin.
“We are not aware of any such negotiations/events regarding a notice from the authorities ordering immediate closure of over 100 showrooms in Maharashtra,” the Bengaluru-based electric two-wheeler maker said in an exchange filing.
Click here to know more on the story.
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