Rupee opens mildly higher at 64.55 against US dollar

The Indian Rupee has opened higher at 64.55 against the US dollar on Friday, rising 2 paise compared with previous close. Increased selling of the American currency by exporters and banks supported the rupee. Positive equity markets also aided sentiment. Bhaskar Panda of HDFC Bank feels the USD-INR pair is consolidating around the 64.50 a dollar pivot. He expects the […]

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Andhra Bank reports higher NIMs in Q2FY18; Hold | Financial Results | Andhra Bank Q2FY18 | Stock Recommendation |Hold : IndiaNotes.com

Andhra Bank reported higher NIMs at 3.21% (10bps y-o-y & 9bps q-o-q) but better operational performance (cost to income ratio of 38% (-792bps y-o-y & 43bps q-o-q) resulted in 24% y-o-y & -5% q-o-q increase in PPOP. Other Income declined by -22% q-o-q & 3% y-o-y to INR 5.9bn, GNPA remained flat at 13.33% (6bps q-o-q) and credit growth stood […]

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Bond yields continue to trend higher amid rising inflation: Dhawal Dalal

Dhawal Dalal of Edelweiss AMC said, “Bond yields continue to trend higher amid rising inflation and unwinding of positions. Sentiment is weak amid continued supply pressure and uncertainty on oil prices and its impact on inflation going forward.” “Market participants are unwilling to build positions despite yields looking attractive. We expect bond yields to remain rangebound in the near term […]

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Cotton prices to trade sideways to higher: Angel Commodities

Angel Commodities’ report on Cotton MCX Cotton Nov futures  is trading in a range on mixed  fundamentals of higher arrivals  and  reports of damage to cotton  crops in Vidarbha and start of procurement by CCI in Gujarat at  higher prices. Moreover, govt. imposed 5% GST under reverse charge mechanism (RCM).  The notification says that the GST on supply of raw […]

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Rupee may open higher, 10-year bond yield to trade between 6.92-6.95%: Bhaskar Panda

Bhaskar Panda of HDFC Bank said, “The concerns over the final shape of US tax reforms weighed on the dollar index. It may have temporary impact on emerging markets.” “As far as USD-INR goes, the pair might open higher and trade in a range of 64.90-65.10 for today.” “The 10-year benchmark bond yield is inching up towards the 7 percent […]

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USDINR: Buy around 64.95 for targets of 65.25 and higher | Outlook on currencies | Investment Idea | Indianotes.com

USDINR: On Wednesday, in the initial hours USDINR pair surged till the immediate swing high of 65.32, but it failed to surpass that and declined lower and finally ended at 65.11. Ahead, the correction is likely to extend further till the trend line support of 64.95. Therefore, we expect pair to test and rebound from the supports and advice buying […]

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