Author: Finance Khabar
Mumbai: Maxis India on Wednesday said it has partnered with Yamaha to supply tires in the country. The company plans to capture at least 15 percent share in the country’s two-wheeler tire market in the next five years. Maxis India is a unit of Taiwan-based Maxis Group. The company has also formed similar partnerships with Hero MotoCorp and Honda Motorcycle & Scooter India. Maxis India said in a statement that under this partnership Yamaha’s 125cc Ray ZR and Fasino scooters and Ray ZR Street Rally 125 FI will be fitted with Maxis tires. The company has already started production of…
Mumbai: On the third day of the trading session on Wednesday, the stock market closed with a bounce, with a break for four consecutive sessions. The BSE Sensex gained 428.62 points (1.05%) to end at 41,323.00 on strong global cues and fall in crude oil prices due to reduction in corona virus cases. At the same time, the NSE Nifty jumped 137.80 points (1.15%) to close at 12,130.30. Shares of 21 companies closed on the green mark while shares of nine companies closed on the red mark on the BSE. On the NSE, buying in 38 companies and selling in…
Popular smallcap funds continue to ban investors’ investments, while this category of markets seems to be improving. The performance of the Nifty Smallcap 100 Index has been six per cent better than the benchmark Nifty so far this calendar year. Axis Mutual Fund has a limit for accepting investors’ investments in smallcap funds. According to the notification of the fund house, new investments will be accepted up to Rs 2 crore per investor per day. This will also apply to switch-in and additional subscription in addition to SIP and systemic transfer plans.According to data from the Association of Mutual Funds…
New Delhi: India is ready to adopt the cleanest petrol-diesel and from April 1, the supply of fuels compatible with the new emission standard Bharat stage-6 will begin. A senior Indian Oil Corporation official has claimed this. India had decided to implement the Bharat Stage-6 standard directly from Bharat stage-IV to reduce vehicle emissions and is close to implementing it successfully in just three years. This will put India among the few countries where cleanest petrol and diesel are used. Indian Oil chairman Sanjeev Singh said that almost all the refinery plants have started producing BS-6 compatible petrol and diesel…
Will provide broadband services during flight in Indian aviation sector New Delhi: Tata group company Nelco and Panasonic Avionics Corporation on Wednesday announced a partnership to provide broadband services during flight in the Indian aviation sector. The service will be launched with Vistara Airlines. The expansion is a joint company of the Tata group and Singapore Airlines. Nelco Managing Director and Chief Executive Officer PJ Nath said, “We are excited to say that Nelco is launching long-awaited flight broadband services in the country. Vistara is the first airline to join the service. “He said that Nelco has partnered with a…
New Delhi: Kotak Mahindra Bank on Wednesday said that the RBI has approved reducing the promoter’s stake in the bank. “The RBI has given its approval to reduce the promoter’s stake in its letter,” the bank said in its information to the regulator on 19 February. Kotak Mahindra Bank said on 30 January that it wanted to reduce the promoter’s voting rights to 15 per cent. He wants to implement it from 1 April. RBI has approved to reduce the voting rights of Kotak Mahindra Bank promoter to 20% by March. The bank said that the RBI in principle has…
New Delhi: China’s deadly corona virus has started to affect the health sector as well. In India, the prices of essential medicines for daily use have gone up by 70%. The price of paracetamol, the most used in the country, has increased by 40%. The price of azithromycin, an antibiotic used to treat throat, tooth and ear infections caused by bacteria, has gone up by 70%. Most of the chemicals related to medicines come from China and supply has been affected due to the movement of traffic. According to a report in India, the price of a box of…
New Delhi: Reserve Bank of India Governor Shaktikanta Das has said about demonetisation that the effect of demonetisation has been good on the economy. Das said that demonetisation has worked in many ways for the economy. In an interview to an English newspaper, Das said – Demonetisation has actually done well for the economy. It has a positive impact. This has strengthened the economy, parallel economy or accounting of money outside the economy. Its effect is coming to the fore now, for now I would like to say this much. However, when asked if RBI has investigated the impact of…
Cricket superstar Virat Kohli and his wife Bollywood actress Anushka Sharma have invested Rs 2.2 crore in a startup. This startup is from the insurance sector, started by Canadian billionaire businessman Prem Vats. Its name is ‘Digit’. This information has been received from Business Intelligence Platform Paper VC. Digit has recently raised $ 8.4 million fund. In the process of raising this fund, Virat and Anushka made such a huge investment in the company. Talking about the contribution of both, Virat has invested 1.73 crore while Anushka has invested Rs 43 lakh. Both of these together hold 0.25% in the…
Mumbai: The Patanjali group led by yoga guru Baba Ramdev has partnered with JHS Svendgaard Retail Ventures to open shops at airports across the country. This information was given in the release issued on Tuesday. JHS Svengard Laboratories subsidiary JHS Svengard Laboratories has four shops at New Delhi, Raipur and Chandigarh airports. The fifth shop is opening at Terminal 3 of Indira Gandhi International Airport in New Delhi. The shop will be opened on Wednesday under a joint venture with Pantjali Group. Shops will also be opened at Kolkata, Bengaluru and Mumbai airports under this tie-up. Managing Director of JHS…
New Delhi: Technology company Cisco said on Tuesday that the number of users using the Internet will increase to 907 million by 2023. In 2018, 398 million people in the country were using the Internet. A Cisco report states that by 2023, Internet-connected devices in the country will reach 2.1 billion. A quarter of this will be machine to machine (M2M) modules. According to the report, the number of mobile users in the country will reach 96.6 million by that time, which is 68 percent of the total population. In 2018, this number was 76.3 crore (56 percent). By that…
Mumbai: Honda Motorcycle & Scooter India (HMSI) said on Tuesday that it has started delivery of its flagship premium mid-segment scooter ‘Forza 300’ in the country. HMSI said in a release that Honda Bigwing, the company’s unit, delivered the first Forza 300 scooter. In the release, HMSI Senior Vice President (Sales and Marketing) Yadvinder Singh Guleria said, “Enthused by the strong customer response to the Forza 300 at Honda Bigwing, Gurugram, the company decided to offer it in India. We are happy to inform that we have supplied the first consignment of four units to our customers. ”
New Delhi: Finance Minister Nirmala Sitharaman has warned that due to Corona virus, there is no possibility of price rise at present. Sitharaman said on Tuesday that due to coronavirus, China is not being supplied, due to which there is a fear of rising prices. The finance minister said that it is difficult to tell what will be the impact of Covid-19 on Make in India. “Right now there is no fear of price rise due to corona virus,” he said. Sitharaman spoke to the media after meeting industry and trade associations. During this time he discussed the effect of…
Sensex slipped 160 points, Nifty closed near 12,000 New Delhi: The market has seen a decline for the fourth consecutive day today. However, there was a good recovery in the market in the last hour. At the end of trading, the Nifty closed up 100 points from the lower level. At the same time, Sensex also improved by 283 points from the lower level. Bank Nifty has also closed down 310 points from below. In today’s business, oil and gas, IT stocks were bought. While auto, metal stocks were sold. The Nifty has fallen 53 points to close at 11,992.…
New Delhi: Public Sector Energy Efficiency Services Ltd. (EESL) has entered into an initial agreement with BSNL for setting up charging stations for electric vehicles. EESL said in a statement on Tuesday that under the Memorandum of Understanding (MoU), the company Bharat Sanchar Nigam Limited. (BSNL) will install charging stations for electric vehicles in 1,000 telephone exchange premises. Energy Efficiency Services Ltd. Investing in charging infrastructure will operate and maintain it, while the public sector telecom company will provide space and electricity connections to set up charging stations. EESL has set up 300 AC and 170 DC charging stations across…
Hong Kong: Hong Kong Shanghai Banking Corporation (HSBC) on Tuesday announced a rational restructuring of its business. This includes retrenchment of 35,000 people. The main reason for this is the company’s profits for three consecutive years. The bank says it will also reduce its bank’s business scope in Europe and America. The bank is facing a number of uncertainties in the wake of the US-China trade war, Britain’s exit from the European Union and the Corona virus outbreak in China. As such, it is focusing on cutting its operating costs. However, the Asian business of the bank is doing well…
New Delhi: In the current crushing season 2019-20 (October-September), which started from October 1, 2019, the production of sugar in the country declined by 22.67 percent till February 15, the total production was only 169.85 lakh tonnes. Sugar production in Maharashtra and Karnataka registered a steep decline, while Uttar Pradesh increased. According to the Indian Sugar Mills Association (ISMA), the sugar production till February 15 has been only 169.85 lakh tonnes as compared to 219.66 lakh tonnes by this time last year. At present, crushing is going on in 449 sugar mills across the country and crushing in 23 sugar…
The country’s largest two-wheeler manufacturer Hero MotoCorp has launched the BS6 model of Passion Pro. The Passion Pro 2020 Hero is one of the most liked bikes of the company. Along with Passion Pro, the company has also launched new updated BS6 models of Glamor. The new Passion Pro’s ex-showroom price in Delhi starts at Rs 64,990. The front disc alloy variant of Passion Pro has been priced at Rs 67,190. The drum variant of BS6 Glamor has been launched in Delhi at an ex-showroom price of Rs 68,900. At the same time, the ex-showroom price of its disc variants…
Washington: Jeff Bojes, CEO of e-commerce company Amazon and the world’s richest man, has committed to create a $ 10 billion fund to combat climate change. Bojes’ company, Amazon, is often accused of ignoring the environment. Bezos wrote in a post on Instagram on Monday that the ‘Bezos Earth Fund’ will provide support for all the work of scientists, activists and non-governmental organizations that have real potential for the protection of nature and the world. He said, “Climate change is the biggest challenge for our earth. It is noteworthy that thousands of Amazon employees criticized its climate policy last month…
San Francisco: Apple’s iPhone supply was affected due to the outbreak of the Corona virus in China, due to which Apple would not be able to achieve its target revenue for the January-March quarter. “The situation seems to be normalizing at a much slower pace than we had expected,” Apple, a global technology company that produces iPhones, said in a statement on Monday. In such a situation, we are not likely to have a target income in the January-March quarter. “The company had targeted a revenue of between 63 billion and 67 billion dollars in this quarter. According to the…