Author: Finance Khabar
New Delhi: This was done through a notification by the Health Ministry on March 26. It implies that all Indian licensees are permitted to deliver at home and e-pharma is essentially nomenclature. “Whereas the central government is satisfied that retail sale of drugs to the doorstep of consumers is essential to meet the requirements of emergency arising out of Covid-19 pandemic and in the public interest,” the Ministry said. “It is necessary and expedient to regulate the sale and distribution of drugs for their delivery to the consumers,” the notification said. The notification allows licensees to make retail sales of…
Union Minister Dharmendra Pradhan on Friday praised the work of Modi government since it came in power in 2014. “With focus from providing banking to ‘every household’ to providing banking to ‘every unbanked adult’, #ModiGovt is committed to take financial inclusion to the last mile. Jan Dhan has benefitted more than 1.5 crore poor people in Odisha covering more than 74 lakh households,” he said in a tweet. Further, minister said, “Benefits worth Rs 60,865 crore have been transferred directly to beneficiary accounts in Odisha for over 65 GOI schemes, like #PMUY, #PMAY, #PMKisan, #PMVVY. #DBT has been a win-win…
Mumbai: The company would use the latest round of funding to accelerate the development and rollout of new product offerings, increase its school network in tier 2-3 cities and hire talent across domains. The current Series C round is LEAD School’s third round of institutional funding since 2017. Both the previous rounds were led by Elevar Equity, which remains a major stakeholder. “LEAD School partners with affordable private schools to transform them into centres of excellent learning through our Integrated System,” LEAD School Co-founder and CEO Sumeet Mehta said in a statement. “The new round of funding will help us…
Mumbai: The domestic stock market has been weak amid weak global cues. The Sensex and the Nifty saw a sell-off on Weekly Expiry. Bank and financial shares witnessed sharp decline. Pressure has been seen in almost every sector except metal, media and pharma. The Sensex has lost 394 points and closed at a level of 38,220.39. At the same time, the Nifty has also closed at the level of 11,309.60 with a weakness of about 99 points. HDFC and ICICI Bank saw the most weakness, while NTPC closed around 7 percent stronger. Earlier on Wednesday, the stock market closed in…
Mumbai: Banker HSBC India on Thursday launched its ‘Green Deposit Programme’ for corporate clients to finance green initiatives. According to the bank, deposits under this programme will finance green initiatives such as renewable energy, clean transportation, pollution prevention and control, green building, sustainable water, waste water management and others, providing a simple way for companies to support environmentally-beneficial projects. “The ‘Green Deposit’ is available in INR as ‘Term Deposit’. This innovative and unique fixed tenure deposit will go towards financing eligible businesses and projects that promote the transition to a low-carbon, climate resilient and sustainable economy,” the bank said in…
San Francisco: Apple’s share in the global smartwatch shipment revenue increased to 51.4 per cent in the first half of this year from 43.2 per cent during the same period last year, Counterpoint Research said on Thursday. Overall, the global smartwatch market posted a healthy 20 per cent revenue growth despite the Covid-19 pandemic due to healthy growth in shipments in India, Europe and the US. In the first half of 2020, close to 42 million smartwatches were shipped, said the report. The top three brands – Apple, Garmin and Huawei — contributed more than 69 per cent of the…
Conducts sanitization and disinfection for its NGO partners in 36 locations across the country impacting lives of more than 3000 beneficiariesAugments its’ NGO partners’ efforts to support and empower communities Hisar , 19th August 2020: Amway India, one of the country’s leading FMCG direct selling companies, continues to mobilize efforts to support vulnerable communities in the areas of health, hygiene, safety, education and skill development. In line with its commitment to helping people live better, healthier lives, Amway India has been constantly exploring ways and means to support the communities and has further intensified its efforts to provide them assistance…
Manappuram Finance in a regulatory filing said that its board has approved raising up to Rs 150 crore through issuance of non-convertible debentures (NCDs) on private placement basis. The board of directors of the non-banking financial company (NBFC) has approved the issuance of market-linked, rated, secured, redeemable non-convertible debentures for Rs 100 crore with an option to retain oversubscription up to Rs 50 crore aggregating to Rs 150 crore on private placement route. Manappuram Finance said its board also approved allotment of 1,000 secured rated redeemable non-convertible debentures having the face value of Rs 10 lakh each aggregating to Rs…
Amritsar: The Board of PNB Housing Finance on Wednesday approved raising Rs 1,800 crore of equity capital through preferential issue or rights issue. In a regulatory filing, the housing finance company said that shareholders’ approval would be required, among other regulatory approvals, for raising the capital. It said that the board of directors “has approved to raise equity capital aggregating up to Rs 1,800 crore through preferential issue/rights issue, subject to such approvals as may be required, including the approval of the shareholders at a general body meeting or through postal ballot and further subject to such other statutory/regulatory approvals,…
New Delhi: In a much-needed dose of good news, Deutsche Bank Research analysts in their August report “World outlook: Interim update and longer term projections” reported recovery in many countries has “progressed faster” than the team predicted in their previous report in May, “World Outlook Update: Turning Gloomier”. “Across most areas of the globe, recovery from historic economic disruptions has been progressing somewhat faster than we had anticipated in our last report,” said Peter Hooper, Deutsche Bank’s global head of economic research. Hooper highlighted Asia and some parts of Europe as regions where “management of the pandemic has proceeded better…
The World Trade Organisation (WTO) said that its goods trade barometer has hit a record low, suggesting that the global merchandise trade registered a historic fall in the April-June period due to the coronavirus pandemic. “Additional indicators point to partial upticks in world trade and output in the third quarter, but the strength of any such recovery remains highly uncertain: an L-shaped, rather than V-shaped, trajectory cannot be ruled out,” the WTO said on its website. World Trade Organisation’s Goods Trade Index Hits Record LowThe barometer reading of 84.5 was down 18.6 points from its year-ago period. In normal times,…
New Delhi: Gold prices in India on August 19, 2020 decline even as prices firm up internationally and hold above $2000 per ounce level. On the MCX, in early trade October gold futures fell by 0.43% or Rs. 231 to Rs. 53340 per 10 gm. Silver too in line was down 0.54% or Rs. 375 to Rs. 69130 per kg. Internationally gold prices surged today, thanks to continuing weakness in dollar and hold above the crucial $2000 per ounce price level. Spot gold was up 0.1% at $2,002.12 per ounce by 0029 GMT, after hitting a one-week high of $2,014.97…
New Delhi: The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the proposal for leasing out three airports namely Jaipur, Guwahati and Thiruvananthapuram airports of Airports Authority of India (AAI) through Public Private Partnership (PPP). The Union Cabinet accorded its approval for leasing of three AAI airports namely, Jaipur, Guwahati and Thiruvananthapuram for Operation, Management and Development to M/s Adani Enterprises Ltd, who is declared as the successful bidder in a Global Competitive Bidding conducted by the Airports Authority of India, for a period of fifty years. These projects will bring efficiency in service delivery, expertise, enterprise…
Mumbai: The Sensex and the Nifty were also seen throughout the day amid good global cues. However, some profit recovery was also seen in the last hour. In today’s trade, the stock markets closed with lightening. At the end of trading, the Sensex has gained about 86 points and has closed at the level of 38,614.79. At the same time, the Nifty also closed 23 points stronger at the level of 11,408.40. Bank and financial stocks are good in today’s business. Realty stocks also rose. IT, pharma and auto stocks were under pressure. Along with heavyweight stocks, midcap and smallcap…
Mumbai: Reliance Industries Ltd. has acquired a majority stake in online drug market place Netmeds for about Rs 620 crore, few days after e-commerce giant Amazon announced the launch of its ‘Amazon Pharmacy’ in southern Bengaluru city. The oil-to-telecom conglomerate said that the investment represents around 60 per cent holding in the equity share capital of Vitalic and 100 per cent direct equity ownership of its subsidiaries –Tresara Health Private Limited, Netmeds Market Place Limited and Dadha Pharma Distribution Pvt Limited. Incorporated in 2015, Netmeds represents the Vitalic Health and all its subsidiaries. Netmeds is a fully licensed e-pharma portal…
Maersk, the world’s largest container shipping firm, beat second-quarter profit expectations on Wednesday and said it expects demand to pick up in the third quarter, but warned of a “significant decline” across the year. Despite being negatively impacted by a “sharp drop in volumes” in the second quarter, with revenues falling 6.5% from the same period last year as the global economy was brought to a standstill by the coronavirus pandemic, Maersk upped its full-year guidance on Wednesday. The Danish company reported a 25% rise in second-quarter EBITDA (earnings before interest, tax, depreciation and amortization) to $1.7 billion, outstripping the…
PC and laptop major Dell on Tuesday launched a fresh XPS laptop ‘XPS 17’ at a starting price of Rs 2,09,500 in the India market. The laptop features the latest 10th Gen Intel Core i7 processors and up to NVIDIA GeForce GTXTM graphics. The machine is badged with Creator Edition on Dell.com to support hobbyists and creative enthusiasts. “The optional 4K Ultra HD+ (3840 x 2400) resolution provides pinpoint accuracy, precise detail, and sharp images and an immersive viewing experience. The Eyesafe display technology helps reduce harmful blue light while maintaining vivid colours,” the company said in a statement. With…
shares of Birlasoft Ltd rose as much as 15.4 percent to Rs 173.4 apiece on announcing a strategic cloud alliance with Microsoft to help its clients accelerate their digital journey. In a stock exchange filing, the IT services company said that it has plans to scale its current Microsoft cloud business to $100 million. “With this collaboration, Birlasoft is strategically positioned to support its enterprise clients with their cloud transformation needs, right from infrastructure to business applications,” it said. “Building on the current collaboration, Birlasoft will focus on delivering end-to-end services on Microsoft Azure, Microsoft 365, and Microsoft Dynamics 365,…
On Tuesday, IDBI Bank said it has received shareholders’ approval to raise up to Rs 11,000 crore by issuing shares through various modes. The decision was taken at the bank’s annual general meeting on 17 August 2020, through audio-visual means. The AGM (represented by shareholders) enabled the resolution for issue of shares aggregating up to Rs 11,000 crore (inclusive of premium amount) through various modes of issue, including QIP (qualified institutions placement), said the LIC-backed private sector lender in a regulatory filing. Among other resolutions passed at the AGM were re-appointment of Rajesh Kandwal as a rotational director as a…
The People’s Bank of China has picked up 0.006 percent stake in ICICI Bank by investing Rs 15 crore in the private sector lender’s Rs 15,000 crore qualified institutional placement (QIP) exercise which concluded last week. The Chinese central bank was among 357 institutional investors, including domestic mutual funds, insurance companies and global institutions, that subscribed to the issue The prominent investors were Government of Singapore, Morgan Investment and Societe Generale, according to regulatory filings. While the PBOC’s investment is modest, it has attracted attention amid tensions between India and China, after the Galwan valley clash. In March, the Chinese…