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Rupee Breaches 69/$ Level for First Time et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Jun 28, 2018 11:55 AM 2 min read
Editorial

End of Day Wrap-up (Thursday / June 28, 2018) #Rupee #Dollar #IncomeTax #crudeoil #TataSteel #ThyssenKrupp #TimesInternet #Netflix #Hotstar #MXPlayer #WhiteHouse #China #Britain #UK #electric #Chargemaster #Transfin

Editor's Comment: Rupee breaches 69/$ level for first time on back of increasing crude oil prices and the added worry of currency traders on the backdrop of the US-China trade war. However, ratings agency Moody’s has also claimed India to be least vulnerable to currency pressures as a result of a stronger dollar.

 

Income Tax dept to examine poll candidates' finances ahead of state, general elections in the near future instead of only certain candidates who were reviewed in case of any financial discrepancies.

 

Tata Steel and ThyssenKrupp to reach $17.4bn compromise. Deal will be signed possibly this week making this joint venture the largest steel maker in Europe with deliveries of more than 21 million tons. The deal was supposed to be finalized in March, 2018 but there was a valuation gap which has caused this delay.

 

Times Internet buys popular video app MX player for $140mn to take on Netflix and Hotstar, as it looks to enter the streaming business again after its 2016 exit with a fresh approach. MX player has 175 million users in India, and looks to add more with in-house content from Times Internet.

 

White House decides against implementation of strict limits on Chinese investments, as US still looks to continue with the ban and tariffs on Chinese investments. A lot of dialogue is going on the Congress as it looks to find a resolution over its approach
British Petroleum buys UK’s largest electric vehicle charging firm, Chargemaster which has over 6500 charging points across UK. This also could benefit Reliance Industries as well, because of their partnership with BP. RIL also looks to enter the electric vehicle segment in the near future.