Author: Finance Khabar
New Delhi: Housing Development Finance Corporation (HDFC) said that it has raised Rs 10,000 crore equity capital by issuing shares to qualified investors, including Government of Singapore and Invesco Oppenheimer Developing Markets Fund. Besides, the housing finance major has raised Rs 3,693 crore through an issue of non-convertible debentures (NCDs). It has also allotted 1.7 crore warrants at an issue price of Rs 180 per warrant, aggregating to around Rs 307 crore under the QIP issue, according to its regulatory filing. “We wish to inform you that the committee of directors -QIP 2020 of the Corporation at its meeting held…
New Delhi: In June, industrial production in the country declined by 16.6 percent in June, mainly due to lower output of manufacturing, mining and power generation, as per the government data released on Tuesday. According to the Index of Industrial Production (IIP) data, manufacturing sector production registered a decline of 17.1 percent, while the output of mining and power fell 19.8 percent and 10 percent, respectively. In a press release, the Ministry of Statistics and Programme Implementation issued a disclaimer saying that “it may not be appropriate to compare the IIP in the post-pandemic months with the IIP for months…
New Delhi: In a bid to facilitate more individuals and MSMEs, the ministry of Finance has augmented scope of the government’s Rs 3 lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) launched for MSMEs. Now more businesses will be able to raise credit as the centre has hiked the upper limit of loan outstanding, as on 29 February 2020, to Rs. 50 crore from the earlier up to Rs. 25 lakh. Under the government’s ambitious ECLGS scheme, MSMEs could apply for emergency credit from banks and NBFCs for a sum of up to 20 percent of their outstanding loan amount.…
Billionaire Mukesh Ambani-led Reliance Industries Limited (RIL) has jumped 10 spots to be included among the world’s top 100 companies on the Fortune Global 500 list. On Tuesday, the ranking released by Fortune showed the conglomerate at the 96th spot on the list. Earlier, in 2012, Reliance had managed to be ranked 99 in the top 100 but had slipped in its position in the subsequent years to fall to 215th in 2016. On the other hand, state-owned Indian Oil Corp (IOC) slipped 34 positions to rank 151st on the 2020 ranking while Oil and Natural Gas Corp (ONGC) is…
Strong quarterly results and general positive outlook on tech giants have driven Apple Inc’s market value to more than $1.9 trillion. In fact, last week, the iPhone market surpassed Saudi Aramco to become the most valuable publicly listed company in the world. Apple is more valuable than ever and so is its chief executive officer (CEO) Tim Cook, who after nine years of taking over after Steve Jobs, has become a billionaire. When co-founder Steve Jobs died, the company was valued at $350 billion. Now that Apple is worth nearly $2 trillion, Cook’s net worth has eclipsed $1 billion as…
Google has rolled out a new Search feature in India that enables influencers, entrepreneurs, freelancers, or anyone else who wants to be easily discovered online create a virtual visiting card in what appears to be the company’s latest attempt to add more LinkedIn -esque functionalities into its search engine. The company said it has rolled out the feature, called people cards, first in India because of the special affinity people in the world’s second largest internet market have shown toward looking up their own names on the search engine. People cards currently only supports English. Users can create people cards…
MUMBAI: The domestic stock market today has seen strength amid better global cues. In today’s business, good shopping was seen in the market and the market is growing throughout the day. Bank and financial shares have seen a good boom in today’s business. However, IT and pharma stocks declined. Currently, the Sensex gained 225 points at the end of trading and closed at a level of 38,407.01. At the same time, the Nifty also became stronger by 52 points and closed at the level of 11,322.50. Today Axis Bank is the top gainer. On the first Monday, the market was…
London: Employment in the U.K. has seen its largest quarterly fall in over a decade, according to official data published Tuesday. The Office for National Statistics said estimates show 32.92 million people were in employment between April and June, 113,000 more than a year before, but 220,000 fewer than the previous quarter. This decrease in employment, which affected both men and women, was the largest quarterly fall since May to July 2009. Data for July showed that the number of employees on payrolls fell by 730,000 compared with March, the ONS said. “Survey data show employment is weakening and unemployment is…
Hyderabad: On a mission to equip SMEs with technology-led solutions, India’s homegrown financial services platform Paytm has launched the country’s first pocket Android POS device for contactless ordering & payments. The company has introduced ‘Paytm All-in-One Portable Android Smart POSP’ at an introductory price of Rs 499 per month rental. Styled like a mobile phone for accepting orders and payments on the go, this is the first such Android-based device to be introduced in India and is much more powerful than the portable Linux based POS devices presently available in the country. It also comes bundled with Paytm’s ‘Scan to…
Mumbai:TRA Research, India’s leading consumer insights and brand analytics company, today released a whitepaper titled TRA’s Diwali 2020 Buying Propensity Report gauging the changing buying mindsets and sentiments for the upcoming Diwali in November 2020. 65% of all consumers expressed a Positive Buying Sentiment as compared to now, and 28% felt it would remain the same. The Apparels category was a positive outlier and had the Highest Buying Priority at 3.11 times the average of all other categories. Mobile Phones, Consumer Electronics and Two-wheelers were on Very High Consumer Buying Priority, followed by Home Furniture, Jewellery and TVs, which were…
Bengluru: Flipkart, India’s homegrown e-commerce marketplace, today announced the launch of ‘Flipkart Leap’ — the company’s first startup accelerator program to help new and upcoming startups grow, scale, navigate challenges and in turn contribute to India’s growing entrepreneurial ecosystem and boosting ‘Start-Up India’. With the call-for-entries beginning today, Flipkart Leap will identify B2C and B2B startups and help them scale through an intensive 16-week virtual program. Throughout the program, Flipkart’s leadership from Business, Operations, Product and Technology will mentor the selected startups and share best practices, in addition to master class sessions hosted by industry experts. The program aims to…
Mumbai: ICICI Bank announced qualified institutional placement (QIP) of equity shares wherein the private lender has fixed a floor price of Rs 351.36 per share for the issue. The announcement was made post market hours. The decision on the final issue price and allotment will be taken on 14 August. “A meeting of the issuance committee of board of directors of the bank is scheduled to be held on August 14 to determine the issue price for the equity shares to be allotted to qualified institutional buyers, pursuant to the issue,” said ICICI Bank in its BSE filing. Of late,…
Mumbai: Titan Company reported a net standalone loss of Rs 270 crore for the June ended quarter when compared to a profit of Rs 371 crore seen in the same period last year. The company’s standalone revenue during the quarter declined by 62.3 percent to Rs 1,862 crore against the same period of the last fiscal year. “The disruption caused by the COVID-19 pandemic in India affected the performance of Titan Company severely with retail outlets closed for a major part of the quarter, resulting in a decline in income of 62 percent for the first quarter of the financial…
Twitter Inc is in early talks about a potential merger with TikTok, according to a Dow Jones report citing people familiar with the matter. The report said that it’s unclear whether Twitter will pursue a deal, which would involve TikTok’s US operations. The news report comes a few days after US President Donald Trump signed two separate executive orders banning popular Chinese apps like TikTok and WeChat, terming them a threat to the national security and to the country’s economy. The ban comes into effect in 45 days. Earlier, a Bloomberg report said that Microsoft Corp has been negotiating for…
New Delhi: According to data from the Federation of Automobile Dealers Association (FADA), the apex body of the automobile retail industry in the country, vehicle sales in the country declined by 36 per cent in July compared to the previous year. During this period, two-wheeler sales fell by 37.47 per cent, three-wheelers by 74.33 per cent, commercial vehicle sales by 72.18 per cent and personal weeklies by 25.19 per cent. However, the figures for July have been better than in June this year. FADA says that banks and NBFCs are not in a mood to take risks despite adequate liquidity,…
Mumbai: The domestic stock market has seen a good boom amid mixed global signals. In business, both the Sensex and the Nifty saw gains throughout the day. Today there has been a sharp rise in pharma stocks. Bank and financial stocks have also seen a boom. Shopping was seen in almost every sector in the market. At the end of trading, the Sensex has gained about 142 points and has closed at the level of 38,182.08. At the same time, the Nifty has also closed at the level of 11,274.70 with a strength of 61 points. Today, Mahindra and Mahindra…
Investors to receive maturity benefits on a single dayInvestors can build their monthly savings with deposits starting at Rs. 5,000 per month Pune, Maharashtra: Bajaj Finance Limited, the lending and investing arm of Bajaj Finserv, has now introduced a new Single Maturity Scheme variant under Systematic Deposit Plan (SDP). Single Maturity Scheme variant under the SDP allows the investors to receive maturity benefits of the plan on a single day, for the investment corpus built over a time. Investors can start building their corpus with monthly deposits starting at Rs 5,000. They can also choose tenures ranging from 12 to…
New Delhi: Life Insurance Corporation of India (LIC) on Sunday said it would give its policyholders an opportunity to resume the discontinued policy to encourage them to continue the risk cover in the current difficult times. The insurance company has decided to launch a special revival campaign from 10 August to 9 October, under which LIC’s discontinued personal policy can be resumed. LIC said in a statement that the policy of certain schemes can be reintroduced under the Special Revival Campaign, although the date of default in premium should not be more than five years old. LIC said in a…
Energy giant Saudi Aramco has reported a 73 per cent fall in its profit, or the net income, for the April-June quarter to $6.6 billion amid the pandemic. During the same period of 2019, the company had reported a net income of $24.7 billion. For the first half of 2020, it has reported a net income of $23.2 billion, compared to $46.9 billion reported during the corresponding period a year ago, the company said in a statement. “Aramco navigated challenging market conditions to record net income of $6.6 billion for the second quarter and $23.2 billion for the first half…
New Delhi: Amitabh Kant, CEO of the government’s think tank NITI Aayog, said on Sunday that women have a natural leadership potential, who take great care of their institutions and the NITI Aayog is working to promote women entrepreneurs. She said in a program that there are many good examples in India where women made a place for themselves. He said that women take people along and help them move forward. She said that Niti Aayog is making tireless efforts to promote women entrepreneurs through its Women Entrepreneurship platform.