Author: Finance Khabar

Infosys, the country’s second largest IT company, has released its June quarter results on Wednesday, July 14. The company’s net profit in the first quarter of the fiscal year 2022 grew 22.7 per cent year-on-year to Rs 5195 crore. The company’s net profit in the same quarter last year was Rs 4233 crore. On a quarterly basis, the net profit of Infosys in the March 2021 quarter was Rs 5078 crore. The company’s consolidated earnings grew 18 per cent year-on-year to Rs 28986 crore. A year ago it was Rs 23665 crore. On a quarterly basis, it increased by 6…

New Delhi: The Central Government on Wednesday announced an increase in dearness allowance from 17 per cent to 28 per cent, giving relief to the central employees. After the cabinet meeting, Union Minister Anurag Thakur said in a press conference that Dearness Allowance (DA) for central government employees and pensioners is being increased from 17 percent to 28 percent. This will come into effect from 1 July 2021. With this, the Union Cabinet has decided to restore the Dearness Allowance (DA) and Dearness Relief (DR) for Central Government employees and pensioners with effect from July 1, 2021. Union Information and…

New Delhi: Lower food prices aided in sequentially lowering India’s annual rate of inflation based on wholesale prices in June. However, the inflation rate alarmingly remained above the 12 per cent mark. Accordingly, WPI rose by 12.07 per cent in June from a rise of 12.94 per cent in May. The monthly rate of inflation, in June 2020 stood at (-) 1.81 per cent. On a sequential basis, the month over month change in WPI index for June 2021 as compared to May, was 0.75 per cent. “The high rate of inflation in June 2021 is primarily due to low…

Mumbai: The much anticipated initial public offering (IPO) of online food delivery company Zomato opened on Wednesday at Rs 72-76 per share offer and was fully received by the retail investors.The retail segment of the offering has been fully subscribed in just over an hour. So far, the IPO has been subscribed around 20 percent on the first day of bidding. On Tuesday, the company said that it has raised Rs 4,196 crore from several prominent institutional investors as part of an anchor book allocation. It has allocated 55.2 crore equity shares, to anchor investors, at a price of Rs…

Mumbai: The stock market was able to gain momentum for the second consecutive day today on the back of strong buying by IT and Tech group companies at the domestic level amid weak cues from the global level. BSE’s 30-share sensitive index Sensex rose 134.32 points to 52904.05 and National Stock Exchange’s (NSE) Nifty rose 41.60 points to 15853.95. During this period, like big companies, small and medium companies were also seen buying, due to which BSE Midcap rose 0.21 percent to 22954.85 points and Smallcap rose 0.24 percent to 26251.19 points. Most of the groups included in BSC remained…

New Delhi: Terming the pandemic-impacted April-June 2020 quarter as ”the darkest hour of the fiscal”, the country’s leading player in suiting and shirting Raymond said a recovery in the segment would take a ”mid-term time frame” when life is back to normalcy, primarily driven by occasion- and celebration-led dressing along with ongoing vaccination. Demand for clothing, which is a non-essential item, with discretionary spending has been impacted, said Raymonds in its latest annual report while talking about branded textiles, its flagship business. It expects ”modest growth” in the fabric business with increasing competition from ready-made garments, besides low traction for…

Baba Ramdev-owned edible oil company Ruchi Soya has filed draft documents with SEBI for a follow-on public offer (FPO) of Rs 4,300 crore. This FPO is being brought for SEBI’s requirement of at least 25 percent public shareholding in the company. SEBI on Saturday filed its Red Herring Prospectus (DRHP) with SEBI to raise Rs 4,300 crore through the sale of its shares. According to the prospectus, the promoters of Ruchi Soya will sell their 9 per cent stake. After the approval of SEBI, the FPO will probably come in the market in the next month. The promoters’ stake in…

Mumbai: Amidst positive trends at the global level, the business started with an increase today. During intraday trading, the Sensex had crossed 52,800 today but after that it declined marginally and closed below 52,800. Nifty was also bullish today and it closed above 15,800. At the close of trading, the Sensex rose by 397.04 points to 52,769.73 and the Nifty closed at 15,812.35 with a gain of 119.75 points. Today 21 stocks on Sensex and 34 stocks on Nifty50 have closed with gains. Talking about the sectoral indices of Nifty, except Nifty FMCG, Nifty IT and Nifty Media, all other…

New Delhi: India’s industrial production (IIP) grew by 29.3 per cent in May this year due to a very low base effect in May last year. IIP growth was 134 per cent in April 2021 due to the low base effect. The growth of March IIP was recorded at 22.4 per cent this year. The government has released the IIP data for June 2021 on 12 July. IIP growth was negative till February this year. The government said, “Last year there was a lockdown due to coronavirus infection from March 2020, due to which the growth figures of last year…

New Delhi: A good news has come out for those investing in the stock market, it has been learned that the much-awaited LIC’s IPO may come by March 2022, according to the information, LIC’s IPO got the green signal in the CCEA meeting held last week. Has been. According to sources, there is a proposal to list LIC by March 2022. The panel of ministers will decide the pricing of LIC. The panel will also decide how much share will be sold in LIC. According to sources, work on value and product restructuring is going on regarding this IPO. The…

New Delhi: BSE Sensex and Nifty50 closed with minor changes during the trading day of July 12, the first trading day of this week. During trading today, the Sensex had crossed 52700 but after that it declined and it closed down 327.82 points from the day’s high and closed below 52,400. Nifty also closed down below 15700 after losing its initial momentum. At the close of trading, the Sensex closed at 52,372.69 with a decline of 13.50 points and the Nifty closed at 15,692.60 with a gain of 2.80 points. Today 17 stocks on Sensex and 27 stocks on Nifty50…

Mumbai: According to the data released by the Reserve Bank, the country’s reserves of foreign exchange increased by $ 1.01 billion to a new record level of $ 610.01 billion in the week ended June 02. Earlier, in the week ended June 25, it had risen by $5.07 billion to $609 billion. The foreign exchange asset, the largest component of foreign exchange reserves, rose by $ 748 million to $566.99 billion during the week ended July 02. During this, gold reserves also increased by $ 76 million and reached $ 36.37 billion. Reserves with the International Monetary Fund rose by…

Mumbai: There was a softening in foreign markets last week due to the concern of the delta variant of the Covid-19 virus, which also affected the domestic stock markets. BSE’s 30-share sensitive index Sensex closed at 52,386.19 on Friday, down 98.48 points, or 0.19 per cent, weekly. The Nifty of the National Stock Exchange too fell 32.40 points, or 0.21 per cent, during the week to end at 15,789.80 on the weekend. In the coming week, on May 12, the data of industrial production for May and retail inflation for June are to be released. The June figures for wholesale…

Twitter has named Vinay Prakash as the Resident Grievance Officer for India. This information has been received from the official website of the company. The US-based company has been in controversy for failing to comply with the new IT regulations in India. Along with this, other needs were also not able to be fulfilled. This includes appointing three key officers – Chief Compliance Officer, Nodal Officer and Grievance Officer for social media platforms with more than 50 lakh users. All three officers must be citizens of India. According to the updated information on Twitter, Vinay Prakash is the Resident Grievance…

New Delhi: The market capitalization of six of the top 10 Sensex companies collectively declined by Rs 92,147.28 crore last week. Tata Consultancy Services (TCS) and Reliance Industries were the biggest losers. Apart from Reliance Industries and TCS, market capitalization of Infosys, Hindustan Unilever, ICICI Bank and State Bank of India also declined last week. On the other hand, HDFC Bank, HDFC, Bajaj Finance and Kotak Mahindra Bank gained market valuation. The market capitalization of TCS declined by Rs 43,574.83 crore to Rs 11,86,563.20 crore and that of Reliance Industries by Rs 35,500.88 crore to Rs 13,14,293.35 crore in the…

New Delhi: NITI Aayog Vice Chairman Rajiv Kumar has said that the Indian economy will register a growth of more than 10 percent in the current financial year. He said that India’s growth is very strong and the disinvestment environment has improved. Kumar also emphasized that the country is better prepared to deal with any possible third wave of Covid-19. At the same time, the states have also learned lessons in dealing with the epidemic during the last two waves. Kumar said that it is hoped that now we are leaving the epidemic behind. With the entry into the second…

New Delhi: Accordingly, toll collections are expected to reach 4QFY21 revenues in 2QFY22 and record 15 per cent growth beginning 3QFY22 over FY20 sans a third wave. “These expectations are driven by the recovery in June 2021, stronger than the earlier seen in 2QFY21 during the first wave,” India Ratings and Research (Ind-Ra) said in a research report. In April and May 2021, average toll revenue fell by 10 per cent and 34 per cent respectively, compared to 4QFY21 owing to the localised lockdowns during second Covid wave. However, the toll collections in June 2021 saw an upward trajectory, reaching…

New Delhi: The sale of the fourth series of Sovereign Gold Bond Scheme 2021-22 will start from July 12 and will run till July 16. The issue price of this series has been fixed. RBI said on Friday that the price of gold per gram in this series will be Rs 4,807. If you apply online for the bond, you will get a discount of Rs 50 per gram. That is, the issue price of one gram of gold bond for such investors will be Rs 4,757. The issue price of the third series of Sovereign Gold Bond Scheme 2021-22…

Microsoft, one of the world’s largest technology companies, has decided to honor the hard work of the employees in the last financial year amidst the challenges. A bonus of $1,500 will be given by the company to all employees below the level of Corporate Vice President. Those employees who are part-time workers or are associated with the company on hourly rate will also get this bonus. Microsoft’s Chief People Officer, Kathleen Hogan informed the employees about this. This will apply to the company’s employees in the US and globally. Microsoft is not the first company to announce a pandemic-linked bonus.…

Messaging app WhatsApp seems to be on the backfoot regarding its new privacy policy. It has said that it will not force users to adopt its new privacy policy till the new data bill comes into force. In its reply given in the Delhi High Court, it has said that it will not limit the functionality of those users who are not following this privacy policy. Facebook-owned WhatsApp has surprised everyone with its move as it had the opposite stance in earlier statements. But now it seems to be softening. WhatsApp told a bench of Chief Justice DN Patel and…