Author: Finance Khabar
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…
New Delhi: The country’s largest software exporter company TCS will give jobs to 40 thousand graduates from the college this year. This company, the largest employer in the private sector, had hired 40 thousand fresh graduates last year as well. The company’s Global HR Chief Milind Lakkar said that his company with five lakh employees had recruited 40 thousand fresh graduates in the financial year 2020-21. In the financial year 2021-22 also, TCS will recruit 40 thousand fresh graduates from the campus. He said that the Covid-19 restrictions will not have any effect on the hiring. Last year, 3.60 lakh…
Mumbai: BSE Sensex and Nifty50 have closed with a fall for the second consecutive day. The Sensex closed down 0.35 per cent at 52,400 and the Nifty fell 0.24 per cent below 15,700. The market declined due to selling in banking stocks and Reliance. At the close of trading, the Sensex closed down by 182.75 points at 52,386.19 and the Nifty closed at 15,689.80, down by 38.10 points. Today only 10 stocks closed with gains on the Sensex, while the remaining 20 stocks closed with a fall. On the other hand, 24 stocks on Nifty50 closed with gains while 26…
New Delhi: Stronger inclusion of investors from deeper geographies and from mass income segments can contribute towards its growth story in coming times, the report said after deliberations of CII Mutual Fund Summit. India has witnessed tremendous growth in its mutual funds industry that has grown from Rs 1.13 lakh crores to Rs 31.7 lakh crores in AUM from March 2000 to February 2021. It translates to a strong CAGR of 17% over these 21 years. While urban affluent customers have been the largest contributor to this growth, the industry has also come a long way in penetrating to smaller…
New Delhi: SpiceJet will launch 42 new domestic and international flights between July 10 and 30, according to an official statement issued on Thursday. The carrier said it will start flights on Surat-Jabalpur and Surat-Pune routes. The airline will also be connecting the city of Surat with Jaipur, Hyderabad and Bengaluru, and Gwalior with Ahmedabad, Mumbai and Pune, the statement added. It will launch non-stop return flights on the Gwalior-Ahmedabad, Gwalior-Mumbai and Gwalior-Pune routes. The budget carrier said it has also introduced flights on the Kolkata-Patna, Patna-Surat, Surat-Patna, Patna-Kolkata, Ahmedabad Udaipur, Udaipur-Ahmedabad and Bengaluru-Kochi routes for the first time on…
The market fell sharply on the day of weekly expiry. Nifty broke below 15,800 level. Barring power, all sector indices of BSE fell. Major private banks increased the pressure. Metal and finance stocks dominated profit-booking. Even today, this stock has seen a fall of about 3 percent. Company-owned British band Jaguar Land Rover’s volumes are expected to decline by 36 per cent during the first half of the year on account of semiconductor shorts. This problem of chip supply seems to be overshadowing the company. Today only 7 stocks closed with gains on the Sensex, while the remaining 23 stocks…