Author: Finance Khabar
Showcases its latest Spring-Summer Collection Lakme Fashion Week, 2020 Bata, European footwear major and India’s leading footwear brand, announced today its partnership with Lakme Fashion Week, 2020 as their Showcase Partner. After successfully hosting Bata Fashion Weekend (BFW) in Milan and Prague over the last two years, this collaboration is a first of its kind for Bata in India, and is yet another step by the brand towards cementing its image as a fashion-forward brand. LWF X Bata is sure to leave the audiences in awe! The brand is collaborating with stellar designers, including Riddhi Mehra and Pankaj & Nidhi,…
New Delhi: The International Monetary Fund (IMF), while reacting to the recently presented budget, said that India’s current economic climate is weaker than even its earlier estimates. The IMF said that India needs to make ambitious structural and financial reforms soon, so that the treasury will grow in the medium term. For this, India has to work under a strategy. Finance Minister Nirmala Sitharaman presented the budget in the Lok Sabha on 1 February. The Central Government had said that this budget was better for the country and hoped for a big improvement in the near future. IMF spokesman Gerry…
New Delhi: After retail inflation, wholesale inflation is also indicating increasing burden on consumers’ pockets. Wholesale inflation rose to 3.1 percent in January, the highest level in eight months. According to the government data, wholesale inflation has erupted due to increase in the prices of manufactured products. Retail inflation rose to 7.59 per cent, the highest level in the past five and a half years. According to the Ministry of Commerce and Industry, the wholesale price index-based inflation was 2.76 percent in the same month last year. Last December, wholesale inflation stood at 2.59 per cent. According to a statement…
New Delhi: GVK Power and Infrastructure incurred a loss of Rs 120.06 crore in the December quarter of the current financial year on an integrated basis. The company informed BSE on Friday. The company said that it had a loss of Rs 122.61 crore in the same quarter of the previous financial year. The company said that during the quarter under review, its consolidated revenue increased to Rs 1,156.15 crore from Rs 1,109.28 crore a year ago. The company’s stock was up 8.19 percent at BSE at Rs 4.36.
New Delhi: The Supreme Court has reprimanded telecom companies for delay in payment of arrears. During the hearing in the AGR case, the court expressed resentment whether the government officials are above the Supreme Court. MDs of telecom companies have been summoned to the court by issuing notice. MDs have been asked to appear in court and explain why their companies have not deposited the AGR dues so far. Airtel, Voda Idea and Tata Teleservices etc. owe Rs 1.47 lakh. At the same time, the court also questioned the relief of companies from the Department of Telecom. Justice Mishra said,…
New Delhi: Senior IAS officer Rajiv Bansal has been appointed as the new Chief Managing Director of Air India, replacing Ashwani Lohani. Bansal is a 1988 batch Nagaland cadre IAS officer. Presently, he was the Additional Secretary of the Ministry of Petroleum and Natural Gas. Rajiv Bansal has been appointed in his place after the term of Ashwani Lohani ends. Rajiv Bansal has a huge responsibility to properly disinvest Air India. The government had announced to sell 100 per cent stake in Air India. March 17 is the bid submission date. After that further process will be adopted. Let me…
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’.