Author: Finance Khabar

Mumbai: In a surprise development, IBM has announced that Jim Whitehurst has decided to step down as President of the company just 14 months after joining in that role. Whitehurst has played a pivotal role in the $34 billion IBM and Red Hat integration announced in 2018. He will continue to work as senior advisor to Arvind Krishna, Chairman and CEO, IBM. “In the almost three years since the acquisition was announced, Jim has been instrumental in articulating IBM’s strategy, but also, in ensuring that IBM and Red Hat work well together and that our technology platforms and innovations provide…

New Delhi: IT industry’s margins are expected to be impacted by wage increases as well as high attrition rate, said HDFC Securities. “Margin will be impacted by wage increases, increase in sub-contracting or attrition, offset partly by operating leverage and FX or offshoring,” HDFC Securities said in a report. According to the report, strong deal momentum, broad- based industry-vertical trends towards digital transformation, positive cyclical indicators in product development or engineering services and consulting, accelerated hiring, and improving alignment with hyperscalers or ‘SaaS’ indicate continuity of momentum for the sector. “‘Tier-1 IT’ is expected to deliver 4 per cent QoQ…

New Delhi: However, it pointed out that commodity pressures are likely to moderate margins in FY22 from previous year levels. “The credit outlook on tractor industry remains ‘Stable’. Despite expectations of some margin pressure, the operating margins for most OEMs in the industry are expected to remain at healthy levels, with return indicators being robust. OEMs continue to focus on developing new application oriented products and are working on emission norm related product launches,” said Rohan Kanwar Gupta, Vice President, ICRA. “In line with ICRA’s stable outlook on the industry, the credit profiles of OEMs are expected to remain healthy,…

Banks are offering good interest on Senior Citizen Deposit Scheme. Recently, SBI, Bank of Baroda, ICICI Bank and HDFC Bank are offering special FD schemes for senior citizens. SBI interest ratesThe name of this special FD of State Bank of India (SBI) is SBI We care. In this scheme of SBI, senior citizens are getting 6.20% interest on FDs of 5 years to 10 years. This interest is available on FDs of less than Rs 2 crore. HDFC interest ratesHDFC Bank to Senior Citizens Under its HDFC Senior Citizen Care FD Scheme, Senior Citizens are getting 0.75% more interest than…

After four consecutive days of decline, today on July 2, the market has closed with an increase. BSE Sensex has closed near 52500 today on the last trading day of this week. The Sensex was supported by heavyweights stocks like Reliance and ICICI Bank today. During trading today, the Sensex had fallen to a low of 52,177.68 points, but after that it started recovery and closed 306.99 points above this high. At the close of trading, the Sensex closed at 52,484.67 with a gain of 166.07 points and the Nifty closed at 15,722.20 with a gain of 42.20 points. Today…

New Delhi: The second wave of the corona epidemic has badly affected the people of non-metro cities and rural areas and due to this the consumer sentiments of rural areas have also been badly affected. However, despite this, rating agency ICRA has maintained the forecast of two-wheeler sales to grow at the rate of 12-14 per cent for the current financial year 2021-22. According to ICRA, the demand for two-wheelers will be supported in the festive season due to low base, healthy rural cash flow and priority to personal vehicles. According to Icra, due to the second wave, recovery of…

New Delhi: Along with expensive oil, now the burden of inflation of LPG has also increased on the common people. Oil marketing companies have increased the prices of Liquefied Petroleum Gas (LPG) on Thursday, July 1. The price of domestic LPG cylinders has been increased by Rs 25.50 per cylinder today and after this hike, domestic cylinders of 14.2 kg in the capital Delhi will cost Rs 834.50. According to the information, not only 14.2 kg, but 19 kg cylinders will also have to pay a higher price as their prices have been increased by Rs 76. That is, for…

New Delhi: Various amendments and introduction of rules under GST in the recent past have made the tax systems system much more complicated and put much compliance burden on the traders, it said in a statement. The Confederation of All India Traders (CAIT) added that it is not alone the centre but largely the state governments are more responsible for distorting the GST taxation system and bringing disparities and anomalies in it which has made it a more complex system and a ”big headache” for the traders. On completion of four years of GST implementation, the traders body observed that…

Edible Oil to become cheaper soon as the govt has cut import duty charges to provide relief to consumers amid rising cooking oil prices. Centre on Tuesday reduced the import duty charges on crude palm oil to 10% which will help to bring down retail cooking oil prices in the country. The Central Board of Indirect Taxes and Customs (CBIC) through a notification announced cut into the basic customs duty on crude palm oil to 10% and refined palm oil to 37.5% with effect from 29th June and will remain in force up to and inclusive of the 30th September…

Mumbai: Trading was volatile on the domestic equity market benchmark BSE Sensex and Nifty50 on the first trading day of July and gains and losses continued on the weekly futures/options expiry day. Sensex was open today in intraday above 52600 and trading was going on but could not maintain its high and it closed near 52300 when trading was closed. Nifty has also closed down below 15700. The Sensex fell for the fourth consecutive trading day today. During trading today, the Sensex had reached a high of 52,638.50 points, but after that it started slipping and closed down 319.9 points…

New Delhi: Vegetable and fruit traders, however, said that rates were not that steep at this point but indicated that these consumables might get dearer in the coming weeks if diesel prices continue to swell in the same fashion. In the national capital, petrol is selling at Rs 98.81 per liter on Wednesday, while diesel is priced at Rs 89.18 per liter. Rajendra Sharma, a wholesale vegetable and fruit trader at Delhi’s largest Azadpur Mandi, said that prices of wholesale and retail vegetables and fruits have increased slightly. “Wholesale prices of onion are now in the range of Rs 23-25…

Mumbai: The bank’s head of consumer finance, digital banking and information technology, Parag Rao, said that it has used the last six months to ”introspect, re-engineer and innovate” about the cards business, where it has 15.5 million customers. The bank has lost its market share by a couple of percentage points because of the ban, but the actions taken internally have ensured that it continues to hold on to market share by spends, he said. In December, the RBI acted against repeated technological outages at HDFC Bank over two years by slapping unprecedented penalties, which included a ban on any…

Amul milk has become expensive. The price of Amul’s milk has been increased by Rs 2 per liter. This increase will be applicable across all brands from July 1. A senior official of the Gujarat Cooperative Milk Marketing Federation (GCMMF) has given this information on Wednesday. He said that the price is being increased after a gap of about one year and seven months, which was necessitated due to the increase in the cost of production. RS Sodhi, managing director of GCMMF, which sells Amul brand of milk and dairy products, said that the prices of Amul milk will be…

Chennai: Korean auto major Hyundai Motor on Wednesday rolled out its 10 millionth car from its manufacturing facility at Sriperumbudur near here marking its 25 years of service in India. The company’s premium sports utility vehicle ALCAZAR formally rolled out of the assemblyline making it the 10 millionth car from the manufacturing unit. Tamil Nadu Chief Minister M K Stalin, who was present at the factory, signed on the bonnet of the car to mark the occasion. ”The historic milestone of the 10 millionth car roll- out is a testimony to Hyundai’s commitment to the ‘Make in India’ initiative. Furthermore,…

Mumbai: A depreciating rupee and lack of fresh buying triggers also kept sentiment at a low ebb, traders said. After rallying nearly 400 points during the day, the 30-share BSE index made a U-turn in the last hour of trade to settle 66.95 points or 0.13 per cent lower at 52,482.71. Similarly, the broader NSE Nifty slipped 26.95 points or 0.17 per cent to close at 15,721.50. PowerGrid was the top loser in the Sensex pack, shedding 1.51 per cent, followed by Bajaj Finserv, ICICI Bank, HDFC, NTPC, HUL, Bajaj Finance and L&T. On the other hand, Infosys, Reliance Industries,…

State Bank of India (SBI), the country’s largest bank, is going to revise its charges for ATM cash withdrawal, branch cash withdrawal and check book from July 1, 2021. That is, from July 1, SBI is going to make many changes. Now charges will be levied on free four cash withdrawal transactions from ATMs and branches. Be it Basis Savings Bank Deposits or SBI BSBD Accounts. Also, SBI account customers will not have to pay charges only on the first 10 check slips. After that there will be a charge. You need to know about some of the below mentioned…

Mumbai: The impact of the fall in Asian markets was also visible on domestic indices today and BSE Sensex and Nifty 50 opened with gains, but by the end of the day’s trading the trend changed and both the indices closed with a fall. The Sensex started trading today with an increase of 52,795.76 points and reached a height of 52,816.42 during trading. But in the evening it closed just above the day’s low. The Sensex fell to a low of 52,477.77 points today and closed at 52,549.66. On Tuesday, the Sensex lost 0.35 per cent or 185.93 points, while…

Kanpur: Fenesta-India’s largest Windows and Doors Brand which is also the market leader in its segment reinforced its retail expansion with the opening another new showroom. The exclusive showroom is located at ESQUIRE TRADING CO. 109/380 R K NAGAR, G T ROAD, KANPUR, U.P – 208012 and brings the best in class uPVC Windows & Doors, Aluminium Windows & Doors and Internal & Designer Doors. Commenting on the launch, Mr. Saket Jain, Business Head- Fenesta Building Systems said, “Commitment towards the customer and excellent product portfolio, together has translated into growth over years and new Showroom is another indication of…

Mumbai: As the second wave of Covid-19 brought the economic activities to a halt, worsening the employment scenario in the country, the Centre has decided to extend the Atmanirbhar Bharat Rozgar Yojana till March 31, 2022.The scheme was so far valid till June 30, 2021. With an approved outlay of Rs 22,810 crore, the scheme entails subsidy for two years to new employees drawing monthly wages of less than Rs 15,000. The government would subsidise both employers’ and employees’ share of provident fund (PF) contribution, amounting to 24 per cent of wages for establishment having strength of up to 1,000…

Mumbai: The Centre on Monday extended liquidity support to various stressed sectors of India Inc as well as micro credit borrowers and export oriented industries. Accordingly, Finance Minister Nirmala Sitharaman announced eight relief measures worth Rs 6,28,993 crore. These measures entail enhancement of existing relief schemes such as ECGLS and support for state governments. Besides, a total of four new measures were announced to provide loans to micro credit borrowers as well as tourism industry. Further, Sitharaman announced Rs 50,000 crore guaranteed loan for creation of medical infrastructure. She said that ECLGS scheme will be enhanced by Rs 1.5 lakh…