INR gains marginally as local equities move higher
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India.com
3 hours ago
- India.com
Who gave the symbol of Rupee? India had no currency symbol before 2010 as...
Indian Rupee symbol History of Indian Rupee symbol (₹): We have been using the Indian currency since the time we were children but did you notice a big change in the Indian currency after 2009? More specifically, have you noticed the Rupee symbol on the currency notes? Do you know the fact that the Indian currency did not not have a icon before 2009 and only after the UPA government led by Dr Manmohan Singh introduce the Rupee symbol (₹), the icon became famous and prospered as the digital identity of India. As mentioned above, India lacked an official currency symbol until a national competition was held in 2009. Among over 3,300 entries that came from all across the country, the winning design came from D. Udaya Kumar of IIT Bombay. What's the meaning of Indian Rupee symbol (₹) The unique design suggested by Udaya blends the Devanagari letter ''र'' ('Ra') and the Roman capital 'R' without its vertical stroke, topped with two horizontal lines symbolizing both the Indian tricolour and economic equality. Indian Rupee falls 16 paise against US dollar Meanwhile, in a significant update for the Indian rupee, the rupee declined 16 paise against the US dollar to close at 85.92 on Wednesday, as a strengthening American currency amid uncertainties over the India-US trade pact hit investor sentiment. However, sliding global crude prices supported the domestic unit, according to forex traders. As per a report by PTI news agency, the rupee opened weak at 86.02 against the dollar at the interbank foreign exchange. The currency traded in the range of 85.74-86.05 during the day before closing at 85.92, down 16 paise from its previous close. In the previous session, the rupee appreciated 16 paise to close at 85.76 against the US dollar. 'The Indian rupee experienced notable volatility today, initially weakening against a robust US dollar before recovering mid-session due to dollar supply, only to conclude with net losses. (With inputs from agencies)
The Hindu
5 hours ago
- The Hindu
Rajoo Engineers to raise ₹180 crore via QIP issue
Rajoo Engineers Ltd., a manufacturer of plastic extrusion machinery has initiated the process to raise ₹180 crore through Qualified Institutional Placement (QIP). The issue will close on July 21. The company's board had approved the opening of the issue of qualified institutional placement (QIP) of equity shares with the floor price of ₹114.42 per equity share. On July 14, the closing price of the equity shares on the BSE was ₹131.20 and ₹131.15 per equity share on NSE. The proceeds of up to ₹160 crore from the QIP will be deployed for expansion of business through inorganic growth to accelerate the company's growth plans and remaining proceeds towards general corporate purpose. The company which specialises in Blown Film Lines, Sheet Extrusion Lines, Thermoforming Machines and PVC Pipe Extrusion Solutions has presence in over 70 countries. It is listed on the BSE and NSE. Operating from Rajkot, Gujarat, the company offers over 26 products across six segments in plastic processing. GYR Capital Advisors Private Ltd. is the Book Running Lead Managers (BRLMs) to the QIP issue.
Economic Times
5 hours ago
- Economic Times
Two Trades for Today: A large-cap power firm for over 5% rise, a small-cap electrical equipment stock for 7% gain
The markets continued to stay tentative and within a defined range as they consolidated for yet another day on Wednesday. The Nifty opened on a negative note and slipped further during the morning session to reach its low point of the day. The Nifty, however, saw a sharp spurt in the afternoon, and it went into the positive zone. It continued trading with minor gains until the end; the headline Index closed with a negligible gain of 16.25 points FONT SIZE SAVE PRINT COMMENT
