Business News Live: Indian market started with sluggishness, Sensex broke 300 points, Nifty also declined
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India poised to emerge as a major solar module manufacturer: RK Singh
Union Power Minister RK Singh on Tuesday said India is set to emerge as one of the largest solar module manufacturers and has the fastest growing capacity in renewable energy. He said that India is moving towards becoming a global powerhouse in renewable energy including green hydrogen while promoting a strong ecosystem. India is at the forefront of the world in becoming one of the largest manufacturing ecosystems in wind power and the fastest growing capacity in solar power. The Power Minister said that India has the potential to grow at the fastest pace in the renewable energy sector and is also set to emerge as one of the largest solar module manufacturers. He said that India has achieved 40 percent of the target of power generation from renewable sources.
Business News Live: GST Council meeting on online gaming today
A decision can be taken today on imposing 28 percent GST on online gaming companies. This decision will be taken in the GST Council meeting. Finance Minister Nirmala Sitharaman will join the meeting in a virtual way. In this, GST will be discussed mainly on online gaming, horse racing and casino. Let us inform that earlier this decision of the government was opposed by the gaming companies.
Business News Live: Rupee falls 19 paise to 82.41 per dollar in early trade
The rupee depreciated 19 paise to 82.41 against the US dollar in early trade on Wednesday amid a falling trend in local equity markets and firming crude oil prices. Traders said strengthening of the dollar and withdrawal of foreign funds in the last few days weighed on the rupee sentiment. The rupee opened at 82.38 in the interbank foreign exchange market and then recovered to 82.41 per dollar. This is a decline of 19 paise compared to the previous closing level. The rupee had closed at 82.22 against the dollar on Tuesday. Meanwhile, the dollar index, which gauges the US dollar’s position against a basket of six major currencies, declined 0.12 per cent to 102.19.
Business News Live: Indian market started with sluggishness, Sensex breaks 300 points
Today, on the third trading day of the week, the global signal is looking weak for the domestic stock market. GIFT Nifty opened in the red mark and slipped below 19800. At the same time, Japan’s Nikkei is trading 1.3%, Korea’s Kospi is trading down about half a percent. There is also softness in the US futures market. Meanwhile, the Indian market Sensex opened 300 points down at 66,158.19. Whereas, there was a slight decline in NIFTY as well. NIFTY-50 is trading at 19,646.25 after losing 87.50 points.
Business News Live: Today many companies will release their first quarter results
Today Titan, Aditya Birla Capital, Godrej Properties, Gujarat Gas, HPCL, InterGlobe Aviation, Metropolis Healthcare, Mankind Pharma, Adani Wilmar, Engineers India, Indian Overseas Bank, Quess Corp, Sapphire Foods India, Vaibhav Global And Ambuja Cements The results of the first quarter are about to be released. In such a situation, investors will keep an eye on these shares in the stock market.
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