Bitcoin is trading near $66,000, stuck in a range for 50 days. The cryptocurrency market saw a dip of nearly 3% in the last 24 hours. Major altcoins also experienced declines. This weakness is linked to rising Treasury yields and global geopolitical tensions. Experts suggest a sell-on-rise phase unless Bitcoin and Ethereum reclaim key levels.
E-marketplace Rentomojo Limited has filed its Draft Red Herring Prospectus with Sebi for an Initial Public Offering (IPO), aiming to raise Rs 150 crore through fresh equity issuance. The company, a leader in the home furniture and appliance rental segment, plans to utilize the proceeds for debt repayment, lease rentals, and general corporate purposes.
Online rental platform Rentomojo Ltd has filed preliminary papers with Sebi for an IPO, aiming to raise funds through a fresh issue of Rs 150 crore and an offer-for-sale. The company plans to use the proceeds for debt repayment, warehouse expenses, and general corporate needs. Rentomojo is a leading player in the organized online rental segment for furniture and appliances.
U.S. stocks plunged Friday, with major indexes hitting seven-month lows as a Middle East war continued to suppress risk appetite. The Dow entered correction territory, down over 10% from its record high. Rising oil prices fueled inflation fears, dampening hopes for Fed rate cuts.
The Reserve Bank of India has set a new limit for banks on their foreign currency dealings in the rupee. This move aims to control speculative trading and stabilize the Indian currency. Banks must now keep their open positions within 100 million US dollars each day. This regulation comes as the rupee faces pressure and has depreciated significantly.
The Indian rupee hit a record low against the dollar, breaching 94 and nearing 95, as rising crude oil prices fueled fears of a prolonged Gulf war. Indian equities also suffered significant declines, marking a fifth consecutive week of losses. Analysts warn of further depreciation for the rupee if the conflict persists and central bank intervention remains subdued.
Online furniture rental platform Rentomojo has filed for an initial public offering in Mumbai, according to a draft prospectus dated Friday.
U.S. stocks plunged Friday, with major indexes hitting over six-month lows as the Middle East war suppressed risk appetite. Megacap and software stocks led the decline, while rising oil prices fueled inflation fears and dampened rate cut expectations. Markets now anticipate potential Fed rate hikes.
The Indian rupee hit a record low of 94.81 against the dollar, nearing 95, as surging crude oil prices and a potentially prolonged West Asia conflict weighed on the currency. Mild central bank intervention offered little respite, with traders now forecasting levels as weak as 97 per dollar.
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