Dollar hits seven-week low amid hopes for Hormuz deal, soft U.S. economic data

Based on the current GMP, the company’s shares are estimated to list at around Rs 670 per share, compared with the upper issue price of Rs 485. However, investors should note that the grey market is unofficial, and GMP is only an indicator of investor sentiment, not a guarantee of listing gains.

Indian markets experienced a downturn on Monday, with the Nifty closing below 24,000 due to profit-taking and geopolitical concerns. IT and Auto stocks faced selling pressure. Analysts suggest a cautious outlook, with attention on US-Iran talks and the Strait of Hormuz. The India VIX saw an increase, indicating heightened market fear.

Axis Bank has seen three senior executives resign from their positions. These departures add to a significant reshuffling occurring within private sector lenders. Anil Agarwal and Vikas Shinde, long-serving executives, have left the bank. Jimmy Tavadia, group head of trading, also resigned from his role. These changes coincide with the lender reorganizing key corporate banking…