Author: Finance Khabar
US markets opened sharply lower on March 11, with the Dow Jones Industrial Average falling over 800 points.The S&P 500 and Nasdaq indices also slipped more than 2 percent each. At 9.51 am ET, the DJI was trading at 24,181.21, down 836.95 points or 3.35 percent. S&P 500 was at 2,797.64, down 84.59 or 2.93 percent lower. Wall Street saw stocks tumbling yet again on the back of concerns surrounding the economic fallout of the ongoing coronavirus outbreak. However, US and global markets made some recovery on March 10 on hopes of some fiscal stimulus from governments towards the fight…
New Delhi: Two-wheeler company Bajaj Auto on Wednesday introduced Dominar Sports Turer with 250 cc engine capacity. Its price in Delhi showroom starts from Rs 1.6 lakh. Bajaj Auto said in a statement that the Dominar 250 will have a 248.8 cc liquid cooled engine. Sarang Kande, president (motorcycle) of the company, said, “The Dominar 250 would be an ideal motorcycle for those seeking tourism.” The company said the Dominar 250 conformed to BS-6 standards. It will be available at company dealers across the country.
New Delhi: Adani Enterprises Limited has received a contract worth Rs 1,546 crore from the National Highways Authority of India (NHAI). The company said in a briefing to the stock market on Wednesday that the contract was awarded to the group led by its company for construction under the Bharatmala project. The company said that it has got the contract to build the six-lane Vijayawada bypass between Golapudi to Chinnakakani on NH-16 in Andhra Pradesh. It also includes the construction of a bridge over the Krishna River at Vijayawada Gundugolanu. The Bharatmala Project is a government-funded road and highway project.…
The State Bank of India on Wednesday announced the abolition of the minimum balance requirement in savings accounts. The bank has said that now there is no need for all savings account holders to keep minimum balance in their account. Along with this, SBI reduced the annual interest rate on savings accounts to three percent. SBI issued a statement and shared this information. The statement said, ‘The bank has decided to end the constraint on the monthly minimum balance (AMB). This has been done to further promote financial inclusion in the country. All 44.51 crore savings account holders will get…
New Delhi: Capital inflows into equity mutual fund schemes rose to Rs 10,730 crore in February. This is the highest level in 11 months. This is the situation when the stock markets have registered a huge fall amid concern about the effect of corona virus. In total, there was a net withdrawal of Rs 1,985 crore from the mutual fund industry. The withdrawal came from various schemes, including short-term (liquid funds). Compared to this, there was a capital inflow of Rs 1.2 lakh crore in January. According to data released on Wednesday by the Association of Mutual Funds in India…
Mumbai: The Sensex closed up 62 points in heavy trading on the stock market on Wednesday. The market is also under the grip of apprehension due to the rising outbreak of Corona virus. During the trading, the 30-share Sensex rose to 386 points at one time. It finally ended at 35,697.40, up 62.45 points or 0.18 percent. The National Stock Exchange’s NSE Nifty gained 6.95 points or 0.07 percent to end at 10,458.40. Hero MotoCorp, Reliance Industries, ICICI Bank and L&T were the major gainers in the Sensex. Tata Steel, IndusInd Bank, ONGC, SBI and Infosys declined. According to traders,…
Mumbai: Britain’s brokerage company Barclays on Wednesday warned that economic growth could be reduced by up to two percent due to preventive measures such as people living in seclusion amid rising cases of corona virus in India. Significantly, the economy is already facing pressure. Barclays said in its comment that the fall in crude oil prices will help the economy and due to its impact, growth is expected to strengthen by half a percent. Corona virus cases are increasing rapidly in India and by Tuesday their number has increased to 61. The latest cases have come from Pune and Bengaluru.…
New Delhi: State Bank of India has reduced the interest rate on fixed deposits within a month. The bank has cut interest by 0.50% on short-term FDs of up to 45 days, which come into force from 10 March. According to the new rates, 4 to 7% interest will be given on FD of 7 to 45 days, which was 4.50 per cent earlier. In addition, interest rates for FDs of one year and above have been cut by 0.10%. They used to get interest of up to 6% earlier. In February itself, the bank cut FD rates by 10…
Due to poor market environment, the government can curb the speed of disinvestment and it will move forward if the environment improves. During this time the government will continue the basic process. Currently, 8 weeks is the time for BPCL Disinvestment. If the situation does not improve, further delays in the government’s Disinvestment Plan are possible. According to sources, the government will now wait for the market mood to improve. Explain that EOI has been issued for Disinvestment of BPCL. The EOI of SCI and Concor is yet to come. OFS of SAIL, COAL INDIA, IRCON, NMDC are still pending.…
New Delhi: RBI has almost ready the bailout plan of YES BANK. According to the information being received, some foreign investors including SBI have given their proposal to RBI for putting money in it. However, it has not been confirmed yet. SBI can invest around $ 1 billion in YES BANK. An investment of Rs 5 to 7 thousand crores is expected from abroad. YES BANK is also expected to invest in HDFC Group and ICICI Group. Here Rakesh Jhunjhunwala and Radhakrishna Damani have also shown interest in YES BANK. Now RBI will decide the investment strategy in YES Bank.…
Nissan Motor Co is likely to pull out from a venture capital fund it runs with alliance partners Renault SA and Mitsubishi Motors, as part of the Japanese automaker’s drive to cut costs and conserve cash, sources said. Nissan will formally take a decision on whether to leave the fund, Alliance Ventures, by the end of this month, the two Nissan insiders told Reuters, declining to be identified because the information has not been made public. A Nissan spokeswoman said it was speculation and declined to comment. A Mitsubishi spokesman said no decision had been made. The move comes as…
Shriram Transport Finance Company (STFC) on March 10 said a penalty of Rs 5 crore has been imposed on the company through an Enforcement Directorate order in relation to an old case of issuing warrants. The company said it had received a show cause notice (SCN) from the Enforcement Directorate (ED) in relation to issue of warrants by erstwhile Shriram Holdings (Madras) Pvt Ltd (SHMPL), which was amalgamated with STFC in April 2012, to a person resident outside India in 2006. The company represented itself with relevant information and facts that it was of the bona fide view that it…
Tata Consultancy Services (TCS) on Tuesday said its aboard has approved payment of an interim dividend of Rs 12 per share for the financial year 2019-20. The company in a regulatory filing said that “the interim dividend shall be paid on Tuesday, March 24, 2020, to the equity shareholders of the company” existing as on March 20, which is the record date fixed for the purpose. The company’s board of directors met on Tuesday and “have declared an interim dividend of Rs 12 per equity share of Re 1 each of the company”, it said.
US stock indexes opened more than 2 percent higher on Tuesday as hopes of coordinated policy easing to avert a global recession calmed investor nerves a day after the biggest market rout since the financial crisis. The Dow Jones Industrial Average rose 601.98 points, or 2.52 percent, at the open to 24,453.00 and the S&P 500 opened higher by 66.92 points, or 2.44 percent, at 2,813.48. The Nasdaq Composite gained 269.09 points, or 3.38 percent, to 8,219.76 at the opening bell.
Riyadh: Oil market giant Saudi Aramco has announced an increase in oil supply. This is expected to lead to flooding of supply in the market affected by the softening of demand and increasing competition to drop the market price between Saudi Arabia and Russia. Aramco said on Tuesday that it would increase the daily supply of crude oil to 12.2 million barrels in April. “It will supply 13.2 million barrels of oil per day to its customers in April,” the company said in a report to the stock market. It is the world’s largest exporter of oil. At present, Aramco…
About 70 per cent Indians own a life insurance policy, but only about a quarter have a pure life term plan, shows a joint study by Max Life Insurance and Kantar IMRB. Even among the 28 per cent owners of term plans, almost 55 per cent reported an insufficient cover. However, the silver lining is that awareness around term insurance plans is higher at 57 per cent. “Increased awareness is followed by action, which means we can expect more individuals to buy term plans in the coming years,” said Prashant Tripathy, Managing Director and CEO, Max Life Insurance, during the…
Awareness about women inequality and the glass ceiling has undoubtedly increased with time. Apart from increasing literacy and digitization, strong women leaders who worked their way to success have inspired women to shatter the subconscious biases towards women. However, with increasing awareness, data shows there are biases against hiring women due to maternity costs. Biases against women workers due to natural process of pregnancy or menstruation is not surprising in India. According to a March 2020 LocalCircle survey, the new maternity law which mandates six months of paid maternity leave has affected the hiring trends of almost 49 per cent…
Annual growth of India Inc in the fiscal year 2020 may be the lowest in the last four years. The slowdown in growth due to low demand in the first nine months of the current financial year and the high base of double digit revenue growth in the same period of the previous fiscal year may deteriorate their movement. According to the analysis of BSE 500 companies conducted by ETIG, the revenue growth of the companies included in the sample has been 2.4% between April and December in the current financial year. This is the lowest since FY16. In the…
Hong Kong: Asian stock markets gained momentum on Tuesday due to the rise in oil prices. A day earlier, global markets had the biggest drop in a decade due to fears about the corona virus and it turned out to be a black Monday for investors. However, the market was relieved by an eight percent rise in oil prices on Tuesday. Oil prices had fallen nearly one-third on Monday. The return on US bonds to record safe investment had hit a record low. The regional markets saw positive trend on Tuesday and energy companies made up some of their losses.…
New Delhi: Indian industrialist and chairman of Reliance Industries Limited (RIL) Mukesh Ambani is no longer Asia’s largest wealthiest . Jack Ma, a Chinese industrialist and founder of Alibaba Group Holding Limited, has become the richest person in Asia, surpassing Ambani. India’s richest Mukesh Ambani’s wealth on Monday fell by $ 5.8 billion to $ 41.9 billion (Rs 2.93 lakh crore) after the steep fall in oil prices, as well as the richest people in Asia. Has slipped to the second position in the list of. Jack Ma of China topped the list of Asia’s biggest wealthiest, with wealth of…