Reliance Infrastructure Ltd (RInfra) has reported a 49 per cent rise in its consolidated net profit for the December 2016 ended quarter, owing to better operational performance.
Tag: depreciation
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Rupee weakness to have minimal impact on Hindalco
Kumar Mangalam Birla, Chairman of Hindalco Industries said the impact of rupee depreciation on the company's balance sheet would be minimal as it does not have much of foreign currency loan. Addressing shareholders at the companyÂ’s 54th annual general meeting, Birla said the firm has a foreign loan of only $100 million and so the impact of rupee deva
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Under-recovery of oil firms on the rise
Under-recovery on sale of one litre of diesel rose to Rs 14 over the last couple from around Rs 7 earlier because of global rise in crude oil price and depreciation of rupee. The rising under-recovery would adversely affect state-run oil marketing companies (OMCs) like IndianOil, Bharat Petroleum Corporation and Hindustan Petroleum Corp
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Rupee weakness puts upward pressure on interest rates
Interest rate in India is rising on the back of the steep decline in the value of rupee against the dollar in recent months. Experts feel that the depreciating rupee raises domestic interest rate through three ways. First, in order to discourage speculation in the currency market, Reserve Bank of India (RBI) tightens liquidity and raises shor
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Price of crude oil rises due to rupee weakness
The steep decline in the value of Indian currency raised the price (in rupee terms) of crude oil imported by India. Further, global factors like higher demand, low OPEC spare capacity and improved economic outlook for 2013 raised the price of crude oil in dollar terms. For example, the Brent crude oil futures rose to a two-year high of $110.51 a barrel recently. Brent for sweet grad
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Rupee depreciation to hit steel firms
Analysts feel that the depreciation of rupee against the dollar may affect the bottomlines of steel companies further. Already, companies like JSW Steel, Steel Authority of India (SAIL) bore the brunt because of the unfavourable exchange rate. The depreciating rupee may further hurt the cost of production of steel companies in turn affecting their mar
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Govt mulls overseas debt issuance by PSUs
The Indian government is mulling various steps to prevent further depreciation of rupee against the dollar. One of the steps considered by the government is to ask financially strong state-run companies to raise debt from overseas investors. According to one estimate, state-run companies could raise $25-30 billion of capital through issue of bond
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Govt mulls overseas debt issuance by PSUs
The Indian government is mulling various steps to prevent further depreciation of rupee against the dollar. One of the steps considered by the government is to ask financially strong state-run companies to raise debt from overseas investors. According to one estimate, state-run companies could raise $25-30 billion of capital through issue of bond
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PSUs invest Rs 1.2 trillion in FY13
Speaking at the annual general meeting of the industry chamber Associated Chambers of Commerce and Industry (Assocham), Prime Minister Manmohan Singh said major state-run firms invested about Rs 120,000 crore in 2012-13. He said this to dismiss the popular notion that public sector undertakings (PSUs) werenÂ’t investing despite sittin
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RBI takes further steps to contain rupee weakness
In order to contain the depreciation of rupee against the dollar, the Reserve Bank of India (RBI) raised the cost of borrowing under the marginal standing facility by 200 basis points. Further, the central bank restricted the amount of money that banks can borrow from its LAF window to just 1 per cent of deposits at Rs 75,000 crore citing the need to "restore stability to the foreign exchange mar