Author: Finance Khabar
New Delhi: Telecom company Vodafone Idea reported a loss of Rs 6,438.8 crore in the December quarter of the current financial year. The company had a loss of Rs 5,004.6 crore in the year-ago quarter. The company said that during the quarter under review, its total income fell by five percent to Rs 11,380.5 crore from Rs 11,982.8 crore a year ago. The company said that during this period, the repayment of debt increased by about 30 percent to Rs 3,722.2 crore. During this period, the depreciation provision by the company increased by 23 percent to Rs 5,877.4 crore. The…
New Delhi: Indian Oil made 14.2 kg cylinders expensive by Rs 144.50 and 5 kg cylinders by Rs 52. Now the price of 14.2 kg cylinder reached Rs 858.50 in the capital Delhi. A statement has been issued by the government about such a sudden rise in the price. The statement said that the price of gas is determined according to the international market. The government subsidizes every gas cylinder. After the price increase, it was announced that instead of Rs 154, Rs 291 will be subsidized. Consumers will not be affected by the upswing in the price of gas…
London: British Prime Minister Boris Johnson on Thursday named British MP of Indian origin Rishi Sunak as Britain’s new finance minister. Sunak has been elected to his post following the resignation of UK Chancellor of the Exchequer Sajid Javid. 39-year-old Sunak had previously been the Chief Secretary of the Treasury. The special thing is that he is the son-in-law of Narayan Murthy, the founder of Infosys. Rishi Sunak is a member of Johnson’s Conservative Party and an MP from Richmond. He was elected the Chief Secretary of the Treasury in July last year. Sunak’s business has been the background. He…
New Delhi: Domestic stock markets fell on Thursday due to disappointing retail inflation and recent industrial production figures and a sharp rise in the number of people infected with coronavirus in China. BSE’s 30-share sensitive index Sensex fell 106.11 points, or 0.26 percent, to 41,459.79 points. The Sensex fluctuated between a high of 41,709.30 points and a low of 41,338.31 points. Similarly, the NSE Nifty fell 26.55 points, or 0.22 per cent, to 12,174.65 points. IndusInd Bank, Tata Steel, ONGC, ICICI Bank and Kotak Mahindra Bank were the biggest losers among the Sensex companies. State Bank of India, Titan, Infosys,…
New Delhi: Sundaram Mutual Fund is going to launch a new scheme on 14 February. The scheme is called Sundaram Balanced Advantage Fund. The scheme will open on February 14 and will close on February 28. After this the scheme will again be opened for subscription and redemption from March 12. According to a report published in the Economic Times, NFO is the new scheme of an asset management company. Through this scheme, a mutual fund company raises money from investors to invest in instruments such as shares, government bonds. The mission of this fund will be to build a…
New Delhi: Two-wheeler manufacturer Hero MotoCorp is also upgrading its bikes according to BS6 standards. A Splendor Plus will also soon come with the new BS6 engine in Hero’s best selling bikes. However, before the arrival of the new bike, its pictures have been leaked. Looking at the leaked photos, it seems that the company is preparing to present this bike in a completely new style. However, before this, the company has launched its bike iSmart with the BS6 engine. Splendor in the commuter segment is much preferred due to its budget range and low maintenance. The new Splendor will…
New Delhi: According to reports circulating in the market, Escorts may sell its share to the Japanese company Kubota. Initial talks with Kubota are on to buy the stake. According to information from sources, Escorts Treasury may sell shares to Kubota. Kubota has an eye on the tractor and machinery market. Keeping this in mind, Kubota can buy 20-25 per cent stake in Escorts in several stages. The deal may be at a 20-25 percent premium to the current price. According to sources, this deal can be done in 2-3 steps. The first minority stake will be sold, which may…
New Delhi: Another new SUV will soon be added to the sub-compact SUV cars segment. The upcoming new car will be offered by the Japanese company Nissan. Nissan has also released a teaser of this SUV. The company’s LED taillight can be seen in the company’s teaser. Till the official name of this new SUV from Nissan, it has been given the codename Nissan EM2. The company says that it is based on the philosophy of ‘Make in India, Make for the World’. According to this, there is a possibility that this car will be exported to other countries as…
New Delhi: US President Donald Trump is scheduled to visit India on February 24-25. However, earlier on Monday, the US on Monday removed India from the list of developing countries which are exempted from the countervailing duty (CVD) of the US. To give this exemption, it is seen that these countries are not harming the American industry through unfair subsidy exports. Apart from India, Brazil, Indonesia, Hong Kong, South Africa and Argentina have also been excluded from the list by the United States Trade Representative (USTR). All these countries were given special preference, due to which they were exempted from…
New Delhi: Allahabad Bank has cut the marginal cost based interest rate (MCLR) by 0.05 percent for different maturity periods. The revised rates will be effective from February 14. The bank told BSE that its Asset Liability Management Committee reviewed the existing MCLR and decided to cut it by 0.05 per cent for all maturity loans. The bank said that the MCLR of loans with maturity of one year has now come down from 8.30 per cent to 8.25 per cent. Similarly, the MCLR of one day, three springs and six months has come down from 7.75 per cent to…
Kolkata: The spread of Corona virus in China is an opportunity for India. Taking advantage of this opportunity, India can beat China in terms of exports. Chief Economic Advisor Krishnamurthy Subramanian says the outbreak of the virus in China could be an opportunity to increase exports to India. India is one of the major trade partners of China in Asia and also has a high trade deficit with China. Krishnamurthy said, ‘It is very difficult to say what effect it will have on India-China relations in terms of trade. However, the Corona virus definitely gives India a good opportunity to…
New Delhi: The country’s industrial production (IIP) declined by 0.3 percent in December 2019 due to the poor performance of the manufacturing sector. A year earlier, industrial production was up 2.5 percent in December 2018. Last August, September and October, industrial production grew by 1.8 percent in November after being in decline for three consecutive months. It declined by 1.4 percent in August 2019, while it was down 4.6 percent in September and 4 percent in October. According to data released on Wednesday by the National Statistics Office (NSO), manufacturing output in December declined by 1.2 percent. Production of the…
Kolkata: Indian Wood Products Co. Limited, the Kolkata-based largest manufacturer of branded catechu or katha in the world – which is celebrating 2019-20 as its Centenary year, is drawing up an ambitious plan to expand its business at home and abroad. Katha, which is primarily extracted from khair tree, is a vital ingredient of paan or customized betel leaf savoury in India, has a huge potential in the pharmaceutical sector, said its Chairman K K Mohta. He said the size of the overall retail market for katha (catechu) in India is estimated at Rs 3000 crores at present. Katha is…
New Delhi: On the occasion of Valentine’s Day, SAIL has gained a lot from airlines. After Indigo Airlines, Air Asia India has now announced a four-day Special Valentines Day Sale. Under this, the price of tickets starts at just 1,014 (including all taxes). Under this offer, tickets will be sold till February 14. You can travel till September 30, 2020 on tickets booked during the offer. Under this offer, the airline will sell 1.4 lakh tickets. The airline tweeted, ‘Choose your Valentines date and destination with 1.40 lakh tickets at very affordable prices’.
New Delhi: Retail inflation rose to 7.59 percent in January as food and food became costlier. According to government data, retail inflation based on the Consumer Price Index stood at 7.35 percent in December 2019. In the month of January last year, it was 1.97 percent. If we talk about food inflation in retail inflation, it was 13.63 percent in January 2020 as compared to a decrease of 2.24 percent in January 2019 a year ago. However, it has come down to 14.19 percent as of December 2019. The Reserve Bank made no change in the key policy rate this…
New Delhi: ITC Limited has decided to increase cigarette prices by 10 to 20 percent. The largest increase has been in small and regular size cigarettes, which have the largest share in the company’s sales. Three out of every four cigarettes sold in the country are from ITC. The company has increased prices by 10% in the premium segment. At the same time, the price of regular cigarettes of 69 mm length has been increased by about 14-16%. The price of entry-level cigarettes, ie cigarettes less than 64 millimeters in length, has been increased by 12 to 20 percent. This…
The company intends to focus on Meerut (Uttar Pradesh) with a strong distribution network Meerut, 12February 2020- At Livpure, we strive to make every Indian healthy by providing them with pure water and pure air. Over a few years, we have established ourselves as the foremost trusted water and air purifying brand by offering the latest innovations, stylized products, and capable service infrastructure. As we all know the world is moving towards smart phones, smart homes, smart kitchens and smart bathrooms. Essentially, Living Smart.Hence Livpure decided to only play the smart game. And it has launched India’s first truly smart…
New Delhi: On account of ease in Coronavirus fears, the Indina indices witnessed fresh buying in the intraday trade session. The BSE Sensex skyrocketed 349 points and closed at 41,565 levels while the 50-stocks Nifty soared 93 points and closed at 12,201 mark. Bank Nifty surged 192 points and closed at 31,492 levels. Speaking on the current rise in the Indian stock market Simi Bhaumik, a SEBI registered technical equity expert said, “Much will depend on tomorrow morning opening. If the market opens higher and sustains above 12,200 levels then one should wait till further trends getting clear to them.…
New Delhi: Dr. Reddy’s Laboratories will acquire select divisions of Wockhardt’s branded generics business in India and a few other international territories of Nepal, Sri Lanka, Bhutan and Maldives for a consideration of Rs 1,850 crore. The two sides have signed a definitive agreement, according to a statement issued on February 12. The portfolio acquired by Dr Reddy’s comprises of 62 brands in multiple therapy areas such as respiratory, neurology, VMS, dermatology, gastroenterology, pain and vaccines. Besides, it would also take over the related sales and marketing teams and the manufacturing plant located in Baddi, Himachal Pradesh with all plant…
New Delhi: Pharma company Suven Life Sciences may sell the recently demerged CRAMS business. Barclays have been appointed for this sale according to the market going on. The stake sale process will start soon. Explain that the company is in contract research and manufacturing business. The company’s promoters want a special focus on research. It has therefore been decided to sell the CRAMS business. The company has also applied for listing on the exchange. The valuations of CRAMS business are also very good. Barclays declined to comment on the deal. At the same time, Suven Life has not yet answered…