Author: Finance Khabar

Mumbai: RBI Governor Shaktikanta Das on Thursday sought credit rating agencies’ assessment of the macroeconomic situation and their outlook on various industries, including the financial sector, the central bank said in a statement. The RBI Governor met managing directors and chief executives of credit rating agencies (CRAs) through video conferencing. The meeting was also attended by the deputy governors and other senior officials of the Reserve Bank of India (RBI). During the meeting, among other matters, agencies’ assessment of the macroeconomic situation and outlook on various sectors, including the financial sector, was discussed. Other issues discussed included perspectives on the…

Mumbai: Benchmark indices ended the day sharply lower, as global cues were weak, following lower closings across the US markets. Sentiments were poor from Asia to Europe, stocks lost at least 2 to 3 per cent on their benchmark indices. The Sensex ended the day lower by 741 points, falling below the 34,000 level to end the day at 33,531 points. The Nifty ended the day lower by 214 points, falling below the 10,000 points mark to end at 9902 points. Nifty stocks that lost maximum ground were Bharti Airtel, Zee Entertainment and State Bank of India. IndusInd Bank was…

PM Modi speaking at the 95th Annual Day of the Indian Chamber of Commerce New Delhi: Prime Minister Narendra Modi on Thursday said that self-reliance was already a part of the Centre’s policy, and Covid-19 outbreak gave it a push. He also urged India Inc to make bold moves and not rely on conservative ones. Modi added that the Covid-19 crisis needs to be made into a turning point for India’s economy. Modi was speaking at the 95th Annual Day of the Indian Chamber of Commerce (ICC). Modi added that citizens resolved to turn the crisis into an opportunity, and…

Dr. Reddy’s Laboratories Ltd. announces that it has completed the acquisition of select divisions of Wockhardt Limited’s (“Wockhardt”) branded generics business in India and a few other international territories of Nepal, Sri Lanka, Bhutan and Maldives. The business comprises of a portfolio of 62 brands in multiple therapy areas such as Respiratory, Neurology, VMS, Dermatology, Gastroenterology, Pain and Vaccines, which would transfer to Dr. Reddy’s along with related sales and marketing teams; and the manufacturing plant located in Baddi, Himachal Pradesh with all plant employees (together the ‘Business Undertaking’). On February 12, 2020, Dr. Reddy’s signed a Business Transfer Agreement…

New Delhi: Voltas Limited, India’s No. 1 AC brand from the house of the Tata’s, in response to the ongoing COVID-19 crisis has launched a new line of Ultraviolet Light (UVC) based surface disinfectant solutions in addition to the engineered UVC based air and duct disinfectant solutions that the industry leader has been offering its consumers for the past several years. This is in line with the Tata Group’s commitment towards serving the community and making a positive social impact. Voltas Limited has always adopted a consumer-centric approach to fulfil India’s cooling and refrigeration requirements for residential and commercial applications.…

Mumbai Today, on Wednesday, June 10, 2020, the stock market closed sharply. Today where the Sensex rose by 290.36 points to close at the level of 34247.05. At the same time, the Nifty gained 69.50 points to close at the level of 10116.15. Apart from this, on the BSE today, a total of 2695 companies were traded, out of which about 1527 shares closed up and 1008 shares declined. At the same time, there was no difference in the share price of 160 companies. At the same time, the rupee closed at a level of 75.61 against the dollar at…

After contracting in the current financial year, India’s economy has been forecasted to bounce back with a sharp growth rate of 9.5 percent next year, provided that it avoids further deterioration in financial sector health, Fitch Ratings said on Wednesday. The coronavirus pandemic will shrink an already slowing GDP growth in 2020-21 at the rate of 5 percent, Fitch Ratings said. “The pandemic has drastically weakened India’s growth outlook and laid bare the challenges caused by a high public-debt burden,” Fitch Ratings said in its APAC Sovereign Credit Overview released on Wednesday. “After the global crisis, India’s GDP growth is…

New Delhi: Mahindra Group Chairman Anand Mahindra has invested $1 million (about Rs 7.5 crore) in Gurugram-based Hapramp, a startup working on technologies like blockchain and social media. The startup was founded in 2018 by five students of the Indian Institute of Information Technology-Vadodara. “Took 2 yrs, but I finally found the start-up I was looking for! @Hapramp is indigenous, built by 5 young founders & brings together a best-in-class combination of creativity, technology & data protection. Look out for @gosocial_app their social networking platform,” said Mahindra, announcing his investment via his Twitter handle on Wednesday. In 2018, Mahindra had…

Wipro Limited , a leading global information technology, consulting and business process services company, today announced the launch of its BoundaryLess Enterprise Solution (BLE), powered by VMware Tanzu product portfolio. As part of its commitment to integrate VMware’s latest innovations into its BLE, Wipro is also a Design Partner for the VMware Tanzu portfolio which consists of Tanzu Mission Control, Tanzu Kubernetes Grid, Tanzu Service Mesh, vSphere 7 with Kubernetes etc. Large enterprises want to leverage Kubernetes to increase developer velocity. Kubernetes provides them the constructs – containers, microservices and Application Program Interface (APIs) – to build modern applications, and…

New Delhi: TCS iON, a strategic unit of Tata Consultancy Services (TCS) , a leading global IT services, consulting and business solutions organization, has partnered with the National Skill Development Corporation (NSDC) to provide its training partners access to the TCS iON Digital Glass Room, enabling them to move classroom vocational skills training to online mode for millions of students across the country. The new partnership strengthens NSDC’s online content aggregation platform – eSkill India, through which it enables e-learning amongst skill seekers and will contribute towards strengthening the Skill India mission. NSDC’s robust network of over 500 training partners…

New Delhi: For senior citizens who have retired between February and April 2020, the government amid Covid 19 outbreak has relaxed the timeline for investing in senior Citizen Scheme account until June 30, 2020. In accordance with the rules, a retired individual of 55-60 years of age can invest in the SCSS scheme in a case if the investment is made within one month of receiving retirement benefits and the amount is not in excess of the retirement benefits. The finance ministry circular dated May 26, 2020 has allowed for investment until June 30, 2020 in the SCSS and the…

New Delhi: A recent study called ‘Global Consumer Tracker’ conducted by Deloitte showed that 53 percent of the respondents in India said that they were concerned about losing their jobs amid the COVID-19 crisis. However, the health of themselves and their family members occupied their minds more than job security and financial obligations. According to the study, 71 percent of the 1,000 Indians polled said that they are worried about their health in the current situation and a larger percentage of 78 were concerned about their family’s well-being. Nearly half of them, that is 46 percent, said that they were…

MUMBAI: NSRCEL, the startup hub at the Indian Institute of Management Bangalore (IIMB), today announced the list of 25 shortlisted fintech startups for a 15-month extensive program, which could see many of them receiving funding from the CSR fund of ICICI Securities, India’s leading financial services firm. The selected ventures will undergo a 3-month pre-incubation journey during which they will be engaged in various sessions, workshops, peer-to-peer learning activities while they receive regular one-on-one mentoring and advisory sessions. Networking events, connects with industry experts, mock-pitches and interaction with investors will be major highlights of the program. Post this, the ventures…

MUMBAI: Zydus Cadila has received final approval from the USFDA to market Atazanavir Capsules (US RLD: Reyataz™ Capsules) in the strengths of 150 mg, 200 mg and 300 mg. Atanazavir, an antiretroviral drug, is used to treat infection of the Human Immunodeficiency Virus (HIV). It is used in combination with other antiretroviral drugs to treat HIV-1 infection. The drug will be manufactured at the group’s manufacturing facility at SEZ, Anmedabad. The group now has 291 approvals and has so far filed over 390 ANDAs since the commencement of the filing process in FY 2003-04.

MUMBAI: Hyundai Motor India Ltd., country’s first smart mobility solutions provider and largest exporter since inception, announced the launch of World Environment Day Celebration Camp at all operational workshops , to promote the idea of green mobility by integrating several initiatives. Commenting on the initiative, Mr. Tarun Garg, Director – Sales, Marketing & Service, said, “To realize our long term vision of Progress for Humanity, HMIL will continue to improve and strengthen its environmental management practices and establish a safe and pleasant environment leading to a sustainable future. With advanced mobility solutions that respond positively to changing climate requirements, we…

Mumbai:On Friday, the State Bank of India (SBI) reported a 327.1 percent jump in its net profit for the March ended quarter at Rs 3,580.81 from Rs 838.40 in the same period a year ago. Its profit included an exceptional item, that is net profit of Rs 2,731.34 crore on the sale of a certain portion of its stake in its subsidiary SBI Cards & Payment Services Limited during the quarter under review. For the full year, the public sector lender’s net profit stood at Rs 14,488 crore against Rs 862 crore in the previous financial year, the highest ever…

Mumbai:The bulls roared on Friday as headline indices BSE Sensex and Nifty 50 ended on a positive note led by buying in financial and metal stocks. The 30-share Sensex gained 306 points or 0.90 per cent to settle at 34,287, while the Nifty 50 index advanced 113 points or 1.13 per cent to settle just below the 1,150-mark. Nifty PSU Bank index gained the most in today’s trade, up 6.85 per cent led by gains by J&K Bank, Punjab National Bank, Bank of Baroda and State Bank of India. “Our domestic markets are largely mirroring the global counterparts in the…

New Delhi:Maruti Suzuki India Limited, the pioneer of factory-fitted CNG technology for passenger vehicles, achieved highest ever sales of eco-friendly CNG-powered cars in FY 2019-20. The Company sold 106,443 factory-fitted CNG vehicles across India. With green mobility in focus, Maruti Suzuki has witnessed 15.5% CAGR increase in its CNG sales in the past five years. This is a testimony to the Company’s customers accepting technologically advanced, ecofriendly and safe mobility solutions. Maruti Suzuki offers its customers widest options of factory-fitted CNG-powered cars. These include Alto, WagonR, Eeco, Tour S, Ertiga and Super Carry. With the vision to democratize green mobility…

New Delhi: In line with its commitment to support the country in the current scenario, IndiGo operated a charter flight today from Bengaluru to Raipur to transport stranded citizens. The Charter was initiated by the alumni network of NALSAR University of Law, Hyderabad in collaboration with Loving Migrant Workers Network and Samerth Charitable Trust. Adhering to all the precautionary measures including the use of face mask, face shield, gloves and sanitizer on-board, the IndiGo flight 6E 9405 transferred 174 migrant workers and their children to Raipur for the onward journey to their hometowns in Chhattisgarh. NALSAR also facilitated another charter…

New Delhi: V-Guard Industries Limited, India’s leading consumer durable company presents its range of AIKIDO high performance air coolers with long lasting cooling and unmatched aesthetics to beat the sweltering summer heat. AIKIDO, with its higher air flow and extra thick honey-comb cooling pads, cools faster and the 50-85 litre tank capacity along with the ability to run on inverter ensures long, uninterrupted performance for many hours. V-Guard offers AIKIDO range of air coolers across various segments such as desert, window, personal and room coolers. AIKIDO comes with V-Guard’s assurance of “longer lasting product quality” backed by a 2 year…