Author: Finance Khabar
MUMBAI: Foreign Portfolio Investors (FPIs) have continued to invest in the Indian equity markets despite the mounting worries over Covid-19 cases. Their net investment thus far in the cash market to date is Rs 12,195 crores. FPIs have made gross purchases to the tune of Rs 66,645 crores, whereas their gross sales have been Rs 54,449 crores, resulting in net purchases in the cash market to the tune of Rs 12,195 crores so far. Domestic institutions have pressed net sales to the tune of Rs 2000 crores since June 1. Their net purchases in the domestic market have been Rs…
MUMBAI:Wholesale inflation based on wholesale price index (WPI) for the month of May contracted by 3.21 percent in May, according to a government statement on Monday. The Department of Promotion of Industry and Internal Trade (DPIIT) has resumed releasing detailed wholesale price index (WPI) data after suspending it for a month. “This department has advised the field offices to collect price data through electronic means of the communication during the lockdown. The response rate for April 2020 has improved substantially. Final index for the month of April 2020 will be released in next month press note in the light of…
MUMBAI: On Monday, Indian Gas Exchange (IGX), the country’s first natural gas exchange, was launched online by Dharmendra Pradhan, minister of petroleum and natural gas. IGX, set up by the Indian Energy Exchange (IEX), will offer the option of both just buying the product as well as purchase along with delivery. Plans to set up the exchange were made a few years ago to tap into the increasing demand for clean fuel. In February, the Indian Gas Exchange (IGX) had invited members to be part of its platform ahead of its formal launch. IGX has 12 members and 300 plus…
MUMBAI: Benchmark indices ended the day sharply lower, as worries over a second wave of Covid-19 infections gripped global markets. Fresh new infections in China, coupled with a rising number of Covid-19 infections in a number of states in the US came back to haunt global markets. Dow Futures fell sharply by more than 2 per cent, while the European markets were also down nearly 2 per cent and Asia closed lower. The Sensex ended the day with losses of 588 points, as banking stocks led the declines. IndusInd Bank and Axis Bank were the biggest losers from the Nifty.…
MUMBAI: Franklin Templeton received an interest payment of Rs 102.71 crore from Vodafone Idea Ltd on June 12, the fund house said in a press release. This amount will be distributed to investors in proportion to their holdings in the plans of the segregated portfolios. There are six schemes Franklin India Ultra Short Bond Fund, (No. of segregated portfolios -1), Franklin India Low Duration Fund(No. of segregated portfolios – 2),Franklin India Short Term Income 7.01 Plan (No. of segregated portfolios -3), Franklin India Credit Risk Fund (No.of segregated portfolios – 3) and Franklin India Dynamic Accrual Fund (No. of segregated…
MUMBAI: L Catterton, the world’s largest consumer-focused private equity firm, will invest Rs 1,894.50 crore in exchange for a 0.39 percent stake in Jio Platforms, a record tenth investment in the Reliance Industries (RIL) digital unit in seven weeks. RIL, the oil-to-retail-to-telecom conglomerate, has now sold 22.38 percent stake in Jio and collected Rs 104,326.65 crore from some of the world’s top technology investors in the largest continuous fundraising by a company anywhere in the world. The investment by L Catterton, which has made more than 200 investments in leading consumer brands, in Jio Platforms is at an equity valuation…
MUMBA: In order to ensure compliance with the Private Placement Memorandum (PPM), SEBI had vide its circular dated 5 February, 2020 prescribed an annual audit. The findings of the audit along with any corrective steps are required to be communicated to the Trustee, the Manager and SEBI. The audit is not required for angel funds and AIFs / Schemes with minimum commitment of INR 70 crore from each investor, subject to obtaining a waiver from the investors in the prescribed form. SEBI has clarified vide circular dated 12 June, 2020 that the finding of audit of compliance with PPM needs…
New Delhi: Foreign portfolio investors (FPIs) have infused a net capital of Rs 20,574 crore in Indian capital markets so far in June, with capital inflows rising due to improved liquidity position in the emerging markets of the world. According to the latest depository data, between June 1 and June 12, FPIs infused capital of Rs 22,840 crore into the stock markets. At the same time, capital of Rs 2,266 crore was extracted from the bond segment. Thus, there was a net capital inflow of Rs 20,574 crore. Earlier, FPIs remained net sellers for three consecutive months. He took out…
New Delhi: The market capitalization (market cap) of seven of the top 10 companies of the Sensex decreased by Rs 78,127.74 crore last week. HDFC Bank was the biggest loser in this. Among the top 10 companies, only Reliance Industries Ltd., Hindustan Unilever Ltd. And HDFC was in profit. HDFC Bank’s market capitalization fell by Rs 28,391.71 crore to Rs 5,39,305.38 crore in the business week ended June 12. Indian Airtel’s market valuation declined by Rs 13,638.89 crore to Rs 3,05,456.66 crore. On the other hand, Kotak Mahindra Bank’s MCAP decreased by Rs 11,882.72 crore to Rs 2,53,197.91 crore. ICICI…
New Delhi: An investment of Rs 815 crore was made in Gold Exchange Traded Fund (ETF) in May amid stock market fluctuations due to Corona virus crisis. The reason for this is that investors are now turning to safer investment options. The category has outperformed other properties over the past year. A total investment of Rs 3,299 crore has come in Gold ETFs since August 2019. According to the latest data from the Association of Mutual Funds in India (Amphi), the net investment in the May Gold ETFs stood at Rs 815 crore. It had an investment of Rs 731…
Bhubaneswar: ArcelorMittal Group, the world’s largest steelmaker, said it plans to invest Rs 2,000 crore in Odisha. Group chairman and CEO LN Mittal gave this information on Saturday. Mittal said this during a video conferencing conversation with Odisha Chief Minister Naveen Patnaik. Mittal told Patnaik during the conversation, “We have a Rs 2,000 crore investment plan in Odisha. This scheme is proceeding under the support and guidance of your administration, your people. Your experience is very big and you have handled the Covid-19 crisis very well, that’s good news. ” Regarding ArcelorMittal’s investment plan, Mittal said, “If it happens that…
New Delhi: Tata Communications incurred a loss of about Rs 275 crore in the fourth quarter of the financial year 2019-20 ended March 31. The main reason for this is to make provision for legislative dues. The company said on Saturday that it had a loss of Rs 199 crore in the same period a year ago. The company said that it had to make a provision of Rs 342 crore for the additional license fee liabilities in the March 2020 quarter. During this period, the company’s total income increased 3.6 percent year-on-year to about Rs 4,398 crore. The company…
New Delhi: Petrol and diesel prices have increased for the eighth consecutive day. Petrol prices were increased by 62 paise per liter on Sunday and 64 paisa per liter in diesel prices. With this, petrol has reached 75.78 per liter and diesel 75.78 per liter in the capital Delhi. In eight days, the price of petrol has increased by more than Rs 4 per liter and the rate of diesel by more than Rs 4.50 per liter. Fuel prices have been increased across the country, but their prices may vary depending on VAT or local sales tax in each state.…
New Delhi: After 8 and a half months, from 8 June, retail industry including malls, restaurants have been allowed to open. It is about a week but customers are not leaving the house due to fear of Corona. There is a huge possibility of retrenchment in the retail industry due to the decline in business. Shoppers Stop, the buyers’ favorite place in every malls, has decided to sack its 1,100 employees. The Corona epidemic has had the worst effect on a Shoppers Stop in India’s oldest department store. People involved in the case said that 1000 people have been evacuated…
New Delhi: There is no stopping of these cyber crimes, and even amidst strict laws and policing the incidences are only cropping day after day even in these pandemic times. As per reports, a banker who ordered booze online has been cheated of Rs. 82500. In a leading daily it has been reported that the banker while making the order shared his credit card details for home delivery of liquor worth Rs. 4500. A resident of Raheja Vihar in Chandivili shared the details despite the cyber officials warning against it. The incident occurred on May 18 when the victim was…
The European Union will agree to borrow billions of euros from financial markets this summer, a European official predicted Friday, despite ongoing differences over how to deal with the economic shock from Covid-19. European countries have battled over a plan to raise 750 billion euros ($847 billion) in public markets since the European Commission, the executive arm of the EU, presented the idea in late May. Negotiations are ongoing, but some member states are still reluctant to take the unprecedented step, fearing taking too much risk for their own taxpayers. However, speaking at a Goldman Sachs virtual conference on Friday,…
New Delhi: With seven straight days of hike in auto fuel price since the daily revision norm has been reinstated, the petrol and diesel prices have gone up by Rs. 3.9 and Rs. 4 per litre. On Saturday, the prices in line with international crude oil rates and foreign exchange rates have been upped by 59 paise per litre on petrol and 58 paise on diesel. In the wake of lockdown which spanned over 2 months, the daily revision was stalled with a huge cut back on demand. As per the price notification of state oil marketing companies, petrol and…
MUMBAI: On Saturday, public sector Bharat Heavy Electricals Ltd (BHEL) reported a net loss of Rs 1,534 crore for the quarter ended March when compared to a net profit of Rs 676 crore in the same period a year ago. Total income of the engineering major fell to Rs 5,198 crore in the fourth quarter of 2019-20 from Rs 10,492 crore last year. Total expenses too came down to Rs 5,906 crore from Rs 9,217 crore year-on-year. The quarter was an execution-heavy quarter for capital goods companies whose deliveries were hit by the COVID-19 nationwide lockdown in the last week…
PUNE: While coronavirus positive cases continue to soar in Maharashtra, Apollo Diagnostics has come forward and initiated door-to-door blood sample collection facilities for the needed patients. This service is a boon for patients as they will not have to step out of their house, and the spread of the disease can be controlled. The Apollo Diagnostics workers giving these services adhere to the safety measures required to keep themselves away from getting infected with the coronavirus. Amid lockdown, the workers also faced many challenges while entering society to collect the samples. Till now more than 1,000 home samples were collected.…
MUMBAI: NAREDCO on Friday organized an online meet with recently formed MoEF Expert Committee members to discuss long pending MOEF issues for fast tracking and framing model conditions for housing and construction projectsrequiring prior environmental clearance. The suggestions for Conditions or pre certifications to qualify for fast track and Framing model conditions for EC to housing and construction projects were presented by Mr Kishore Bhatija, Vice President, NAREDCO Maharashtra and MD, K. Raheja Corp. The meeting was attended by all the 4 members of the committee including the Chairman , Shri. Sunil Kumar Singh, I.A.S, MoEF Expert Committee, MOEF&CC, Government…