With bond markets calming down, and positive developments with respect to the US stimulus. Asian markets saw a strong start. Indian benchmark indices bounced back from the volatility of last week, as the Sensex and Nifty rose around 1% on Monday.
01 Mar 2021, 12:39:35 PM IST
M&M’s overall sales grow 41% YoY
Mahindra and Mahindra’s overall auto sales for the month of February 2021 stood at 28,777 vehicles, compared to 32,476 in February 2020, a rise of 41% year-on-year.
01 Mar 2021, 12:24:43 PM IST
Rupee slumps 29 paise against US dollar in early trade
The Indian rupee slumped 29 paise to 73.76 against the US dollar in opening trade on Monday, weighed down by significant foreign fund outflows and rising crude oil prices.
At the interbank forex market, the domestic unit opened at ₹73.76 against the US dollar, dropping 29 paise over its previous close.
On Friday, the rupee had settled at 73.47 against the American currency.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.03% to 90.84.
“Weakness of the US Dollar could limit depreciation bias, however, FPI outflows due to strong yields could weigh on sentiments,” Reliance Securities said in a research note.
Most of the Asian currencies have started stronger this Monday morning and could lift sentiments, the note added. (PTI)
01 Mar 2021, 12:00:42 PM IST
Ashok Leyland reports rise in Feb vehicle sales
Ashok Leyland reported a 50% rise in sales of medium and heavy commercial vehicles to 7,336 from 4,894 a year ago.
Meanwhile, sales of light commercial vehicles rose 44% to 5,901 from 4,107 a year ago.
01 Mar 2021, 11:45:28 AM IST
India February manufacturing PMI falls marginally to 57.5 from 57.7 in January
India’s manufacturing activity eased marginally in February but stayed above the long-run average as firms raised input inventories at a record pace, with strong growth in sales and production, a private survey said.
Data released by analytics firm IHS Markit on Monday showed that the Purchasing Managers’ Index (PMI) for India’s manufacturing…
Go to the news source: Sensex, Nifty hold firm near 1%; VIX cools off 5%