The Indian rupee hit a lifetime low of 83.48 (intraday) against the US dollar on Friday after hawkish comments by US Federal Reserve Chair Jerome Powell.

But the Reserve Bank of India (RBI) intervened in the foreign exchange market by selling dollars, which helped the currency cut losses to end the day at 83.34, which is a record closing low. The local currency settled at 83.29 against the dollar on Thursday.

ESAF Small Finance Bank (SFB) made a strong stock market debut on Friday with its shares getting listed at Rs 71.90 on the BSE, a 20 per cent premium over its issue price of Rs 60 per share. On the National Stock Exhcnage (NSE), the stock opened at Rs 71, 18 per cent higher against its issue price.

Post listing, the stock moved higher to Rs 74.15 on the BSE, and to Rs 74.30 on the NSE. At 10:01 AM, ESAF SFB was quoting at Rs 73.65, 23 per cent higher over its issue price.

The price of 24-carat gold dipped Rs 440 in early trade on Friday, with ten grams of the precious metal selling for Rs 60,760, according to the GoodReturns website. The price of silver fell Rs 300, with one kilogram of the precious metal selling at Rs 73,200.

The price of 22-carat gold slid Rs 400, with the yellow metal selling at Rs 55,700.

Jio Satellite Communications and OneWeb, backed by Bharti Enterprises, have received licenses from the government to provide broadband internet services to end-users using satellite, according to a report by the Financial Express (FE). Both companies now have pan-India Internet Service Provider (ISP) licenses, which are essential for delivering internet connectivity through satellite or mobile networks. The licences, along with clarity on satellite spectrum allotment, pave the way for the commercial rollout of satellite-based internet services.

AGS Transact Technologies Limited, an integrated omni-channel payment solutions provider, announced that it has won an order for 1,350 ATMs from the State Bank of India (SBI).

A press release stated that the company received the order under its banking automation solutions portfolio. The SBI will deploy these "AGS" branded ATMs on a pan-India basis during FY24.

Prime Minister Narendra Modi accused the Congress government in Rajasthan of sympathising with terrorists, alleging that terrorist organisations like the Popular Front of India (PFI) hold rallies without fear in the state while addressing a rally in Udaipur on Thursday.

"Today there is a Congress government here, that is why terrorist organisations like PFI hold rallies without any fear. The Congress government, a sympathiser of terrorists, will accept this by destroying Rajasthan," PM Modi said.

Lenders to Byju’s, once one of India’s hottest tech startups, properly cited a default on a $1.2 billion loan when taking over control of a unit of the education-technology provider, a Delaware judge concluded.

The lenders – which include Redwood Investments LLC and Silver Point Capital LP – were within their contractual rights to replace a relative of company founder Byju Raveendran on the board of Byju’s Alpha, a special-purpose company formed for financing purposes, with their nominee, Delaware Chancery Court Judge Morgan Zurn ruled.

Electric motorcycle company Revolt Motors on Thursday announced that it has received an order from Adani Green Energy Ltd (AGEL) to supply electric bikes for the renewable energy company's corporate fleet.

In a regulatory filing, the company said, "This marks a pivotal moment in the transition to sustainable transportation solutions and reinforces the commitment of both companies to a greener, cleaner future."

JSW Steel on Thursday announced that consolidated crude steel production for October stood at 2.32 million tonnes, growing by 12 per cent year-on-year (y-o-y).

Capacity utilisation at the level of Indian operations was recorded at 95 per cent for October. The company said in a press release that JSW Steel USA-Ohio volumes were positively impacted due to improved demand compared to last year.

Genpact has announced its president and chief executive officer (CEO) 'Tiger' Tyagarajan will retire from the professional services company on February 9 next year. Balkrishan 'B K' Kalra, the company’s global business leader for financial services and consumer and healthcare, will be the new CEO.

Kalra led business transformation, a focus area of Genpact, and he has more than 30 years of experience in helping companies grow from early stage to global enterprises.

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