Author: Finance Khabar
Mumbai: Friday was a turbulent day for the stock market. In the morning, the stock market fell so heavily that the lower circuit started and both the Sensex-Nifty had to stop trading. At the same time, the market recovered so much in the day’s business that another record was made. On Friday, the Sensex has the biggest recovery so far, under which a recovery of about 10 per cent was recovered, as well as an increase of about 4 per cent was also recorded. That is, the biggest decline of 12 years in a single day and the biggest recovery…
New Delhi: The Union Cabinet on Friday approved the restructuring plan of Yes Bank. State Bank of India (SBI) will buy 49 percent stake of Yes Bank under the scheme proposed by the Reserve Bank. Finance Minister Nirmala Sitharaman said that the cabinet has approved the restructuring plan of Yes Bank as suggested by the Reserve Bank. The Reserve Bank had banned Yes Bank on March 5. Also, withdrawal limit was set for customers up to Rs 50,000. The moratorium has been extended till April 3, besides the central bank appointed Prashant Kumar, the former chief financial officer of SBI,…
· Andour Heights is located in Sector 71, Gurugram and comes under Haryana Affordable Housing policy · Signature Global is ready to deliver its 3rd Haryana Affordable Housing project within three years including Solera and Synera Gurugram: Signature Global, the pioneer of affordable housing, is proving its worth by delivering projects within the time limit. Contributing the most towards Honourable Prime Ministers vision of ‘Housing for all 2022’, it has received the occupancy certificate for Andour Heights located in Sector 71, Gurugram. With this the company is ready to deliver its third project under Haryana Affordable Housing policy including Signature Solera and Signature Synera. Located on…
The Union Cabinet approved a 4% increase in Dearness Allowance (DA) for government employees. This information has been given by sources. Earlier on October 9 last year, the government decided to increase the dearness allowance of central employees by 5 percent. After the meeting, Information and Broadcasting Minister Prakash Javadekar had told reporters that in the cabinet meeting chaired by Prime Minister Narendra Modi, it was decided to increase the dearness allowance of central employees by 5 percent. This will benefit 50 lakh central employees and in addition 65 lakh pensioners. In this way it was increased to 5 percent…
From humbling beginnings to now running a full-fledged business, Abhishek Kumar has come a long way. After finishing his BTech in Mechanical Engineering in the year 2011 Abhishek took up the role of a software engineer in a company in Noida. An unforeseen family emergency saw him shifting back to Patna where he then settled for good to explore his options in his hometown. In hindsight, this decision to make it big in Patna ended up being a very positive one for Abhishek and helped him achieve his entrepreneurial dreams of running a successful hotel in the city. Abhishek Kumar…
New Delhi: Medical experts in India say that it may take up to a year and a half to develop a vaccine for the corona virus (Covid-19). Meanwhile, a good news has emerged during the treatment of patients infected with Coronavirus. There have been indications that Lopinavir and Ritonavir are used in the treatment of HIV, and are proven effective in patients with coronas. In view of this, the Narendra Modi government has directed the firms to increase the production of both medicines. The Union Health Ministry held a long meeting with pharmaceutical companies. In this, the Committee of Experts…
India’s travel and hospitality industry is headed for its worst crisis with an at least Rs 8,500 crore hit in revenues due to suspension of most visas over fears of spread of coronavirus that would result in lower footfalls and drop in business for tour operators, hotels and aviation industry. Hotels and tour operators have seen a spurt in cancellations particularly after the WHO declared the outbreak a pandemic. Tourists cancelled travel, hitting hotels, airlines and tax collections after the government suspended most visas in a bid to halt the spread of coronavirus. At least 40 percent of rooms across…
Cryptocurrencies took a battering following a global sell-off in stocks, with bitcoin seeing a near 40% plunge. The market capitalization, or total value of the entire cryptocurrency market plummeted around $93.5 billion in the space of 24 hours as of 10:07 a.m. Singapore time, according to data from Coinmarketcap.com. Bitcoin was down 48% from 24 hours before at 10:24 a.m. Singapore time at $4,001.60, according to data from Coindesk. The fall in cryptocurrency markets comes amid a broader sell-off in equities as governments worldwide continue to grapple with the new coronavirus that’s spreading rapidly across the world. The number of…
New Delhi: On account of the rise in Coronavirus fears and negative foreign institutional investors, the Indian share market crashed to the tune of near 10 per cent hitting the lower circuit. The BSE Sensex crashed 3091 points and hit the lower circuit at 29,686.95 levels while NSE Nifty hit the lower circuit at 8,624.05 levels after bleeding 966.10 points. Bank Nifty also hit the lower circuit at 21,397.45 levels after nosediving 2573.70 points in the Opening Bell. Now, the pre-open of the market will take place at 10:05 AM while the share market opening will take place at 10:20…
The pan-European Stoxx 600 had plummeted 11% by the close, with travel and leisure stocks sinking 12.8% following Trump’s announcement of a ban on European travel. The U.K.’s FTSE 100 lost 9.8%, France’s CAC 40 shed 12.3% and Germany’s DAX fell 12.2%. Italian stocks finished nearly 17% lower, which was also the worst single-day loss for the FTSE MIB. Trump said Wednesday that the U.S. will suspend all travel from 26 European countries to the U.S. for 30 days to curb the spread of coronavirus. The new rules will go into effect on Friday night. The measures will affect the…
Stocks plummeted once again on Thursday after President Donald Trump and the Federal Reserve failed to quell concerns over the possible economic slowdown stemming from the coronavirus, leading to historic moves in U.S. markets. The Dow Jones Industrial Average traded 1,698 points lower, or 7.2%. Earlier in the day, it fell as much as 9.5%, which would be its worst drop since the 1987 market crash. The S&P 500 traded down 6.3%, joining the Dow in a bear market on Thursday. The Nasdaq Composite traded 6.3% lower. The major averages got a brief respite after the Fed announced it will…
Sun Pharmaceutical on Thursday said its board will consider a proposal for buyback of shares next week. In a BSE filing, the company said, “We wish to intimate that the meeting of the board of directors of the company is scheduled to be held on March 17 to consider and if deemed fit, to approve, the proposal for buyback of fully paid-up equity shares of the company, which would include the maximum amount, the maximum number of equity shares, mode of buy-back and other matters.” It added that in this connection, as per the company’s code of conduct for prevention…
New Delhi: The Reserve Bank has made a big announcement to make up for the damage caused by the corona virus to the market. RBI will help the market by $ 2 billion (Rs 14000 crore). He will invest this amount in the market through the dollar-rupee swipe window. The stock market is making a record of continuous decline. Today the Sensex slipped more than 2900 points to close, which is the biggest drop in a day. The circular issued by the Reserve Bank stated that the market is in dire need of the dollar. So he will implement the…
Mumbai: Banks’ loans rose 6.13 percent to Rs 101.04 lakh crore for the fortnight ended February 28. This information has been given in the latest data of the Reserve Bank. Deposits in banks increased by 9 percent to Rs 133.31 lakh crore during this period. The loan given by banks at the end of the fortnight ended March 1, 2019, a year ago was Rs 95.20 lakh crore and the deposits amounted to Rs 122.30 lakh crore. In the previous fortnight ended February 14, 2020, banks’ loans grew by 6.36 per cent to Rs 100.41 lakh crore and deposits grew…
New Delhi: The country’s industrial growth rate, based on the Index of Industrial Production (IIP), rose to two percent in January, its highest level in six months. According to the data released by the National Statistics Office (NSO) on Thursday, the IIP has improved mainly due to increase in mining and power generation. The growth rate of IIP was 1.6 percent in January 2019. After achieving 4.9 percent growth in July, 2019, industrial sector activities have remained quite slow. Industrial production declined by 1.4 percent in August last year. It declined by 4.6 percent in September and 6.6 percent in…
San Francisco: Amazon said Wednesday that its paid leave has been extended if one of its employees is found infected with the Corona virus or Covid-19. The world’s leading online retailer reported that it has set up an $ 25 million Amazon Relief Fund, which will help unorganized sector employees affected by the epidemic. The company said, “All Amazon employees affected by Covid-19 or placed under inspection will be given two weeks of paid leave.” The company has said that this has been done so that employees take full care of their health without worrying about salary. The company said…
Mumbai: The S&P BSE Sensex and NSE Nifty 50 indices suffered their biggest single-day selloff ever in absolute terms as the Indian markets entered a bear phase. The investor sentiment – which has been shaky in the past few weeks in the backdrop of the fast-spreading coronavirus outbreak – took a further beating after the World Health Organisation declared the deadly virus as a pandemic. The Nifty 50 crashed as much as 9 per cent or 950 points to 9,508 during the session – its lowest level recorded since June 2017 and the S&P BSE Sensex dropped as much as…
Oil prices crashed this week, sparking a sharp global sell-off in capital markets but experts say low energy prices could be a silver lining for India, one of the world’s closely-watched economies. U.S. crude and international benchmark Brent prices plunged to multi-year lows after OPEC failed last week to strike a deal on production cuts with its allies, including include Russia. That led Saudi Arabia, the world’s largest oil exporter and the de facto leader of the energy cartel, to slash oil prices and threaten to ramp up production. A supply glut has kept oil prices relatively low in recent…
On the fourth day of the trading week i.e. Thursday, the Indian stock market is again witnessing a tremendous decline. The condition of markets not only in India but also in the world is bad. The Corona virus caused havoc in the market. The Bombay Stock Exchange’s leading index Sensex in early trade continued to fall in the market after falling 1,883.19 points, or 5.28 per cent. The Sensex is currently trading at a level of 33,158.74 with a fall of 2,538.66 points. While the National Stock Exchange’s Nifty is trading at 9,724.50 levels after falling 733.90 points i.e. 7.02…
New Delhi : The GST Council is expected to correct the inverted duty structure, which taxes inputs at a higher rate than output, in the nation’s biggest indirect tax that has resulted in blocked credits for manufacturers. The GST rate on mobile phones is proposed to be increased from 12 percent to 18 percent, at par with most of the inputs used for manufacturing phones, a government official told Financekhabar on the condition of anonymity. The proposal will be discussed at the council’s meeting on March 14. Due to the inverted duty structure, input tax credit, or the credit of…