Author: Finance Khabar
Mumbai: The bench last week questioned the alacrity being shown by the lead lender IDBI Bank as CBI has charged C Sivsasankaran in a loan fraud case of IDBI Bank. The bench also asked the bank consortium in what capacity did the proposer give the settlement plan and the “real intent” behind the one-time settlement offer. The tribunal also sought explanation if the proposal could be admitted under the law. Some serious allegations and questions have been raised with respect to the Siva Industries and Holdings case that has grabbed the limelight because public sector banks have agreed to settle…
MUMBAI: The impact of the global decline was also visible on the domestic stock markets today and after touching the all-time high in morning trade, the 30-share Sensex Sensex fell 189.45 points to 52,735.59 points and the National Stock Exchange’s Nifty 45.65 points. That is, 0.29 percent fell to 15,814.70 points. The stock markets were open in the morning, but the IT and tech sector companies as well as the shares of giants like Reliance Industries went into the red mark shortly after selling. Earlier, the Sensex also reached a historical level of 53,126.73 points. Nifty also managed to reach…
Mumbai: Gold worth $679.16 million (Rs 4,976.07 crore) was imported in May, according to Commerce Ministry data. This is multiple times higher than $76.31 million worth of gold imported in May last year amid a nationwide lockdown. Further, for the April-May period of FY22, import of the yellow metal stood at $6.91 billion, against $79.14 million worth of gold during the same period of last fiscal. Although the import of gold has recovered with improving demand, silver imports, on the other hand, have depleted. Silver worth $15.66 million was imported last month, 95.3 per cent lower on a year-on-year basis.…
New Delhi: According to the Reserve Bank of India, there are 15 days of holidays in the banks in the month of July due to weekly holidays and different festivals. There are festivals like Rath Yatra, Bhanu Jayanti, Bakrid and Ker Puja in July. Because of this, there will be no work in the bank on the day of the festival. The first bank holiday in the month of July will be on the 4th. This day is Sunday. After this, banks will be closed on 10 and 11 July due to Saturday and Sunday. The festival of Rath Yatra…
Mumbai: The market capitalization of six of the country’s ten largest companies increased by Rs 1,11,220.5 crore. Last week, the total market valuation of these companies increased by more than Rs 1 lakh crore. Tata Consultancy Services and Infosys were the frontrunners in this race. Market valuations of Tata Consultancy Services, HDFC Bank, Infosys, HDFC ICICI Bank, State Bank of India registered gains, while the market capitalization of Reliance Industries Hindustan Unilever, Bajaj Finance and Kotak Mahindra Bank declined. The market capitalization of Tata Consultancy Services increased by Rs 30,961.06 crore to Rs 12,50,538.30 crore last week, while that of…
Mumbai: On the last day of this trading week, both BSE Sensex and Nifty 50 have closed with gains. At the close of trading, Sensex has closed above 52900 and Nifty has closed above 15850. IT stocks like HCL, Tech Mahindra got support on Sensex. However, today Reliance was the biggest seller on the Sensex. Talking about Nifty, except Nifty FMCG, other sectoral indices closed with gains and Nifty Bank was up 1.54 per cent and Nifty Metal by 2.61 per cent. The Sensex opened at 52,877.16 points during trading today and reached 52,973.07 points during trading. At the close…
Mumbai: The Reserve Bank on Thursday said it has launched the 2020-21 round of its annual survey on computer software and information technology enabled services (ITES) exports, results of which are used for compilation of balance of payments statistics. The RBI has been conducting this annual survey since 2002-03. It collects data on various aspects of computer services exports as well as exports of ITES and business process outsourcing (BPO). The survey results are released in the public domain, besides being used for compilation of balance of payments (BoP) statistics and other uses, it said in a release. In another…
New Delhi: LIC Housing Finance (LIC HFL) will issue shares at Rs 514.25 apiece to its promoter Life Insurance Corporation of India (LIC) on a preferential basis. The board of directors of the company in its meeting last week had approved preferential shares up to 4,54,00,000 through a private placement to LIC. ”The issue price of the equity share of the face value of Rs 2 each shall be Rs 514.25 apiece, which is the price calculated as per Sebi regulations, 2018,” LIC HFL said in a regulatory filing on Thursday. LIC’s shareholding in the housing financier post the allotment…
Tesla owner Elon Musk, one of the world’s largest electric car manufacturing companies, is, in a way, the fortune teller of cryptocurrencies. One of his tweets sends the prices of cryptocurrencies from floor to floor and from floor to floor. But Elon Musk’s tweet sometimes overshadows his company Tesla. Above all, China is there to destroy the crypto market. The price of bitcoin, the world’s most popular cryptocurrency, fell below $30,000 on 23 June for the first time since January 2021. Tesla is expected to lose $ 90 million, or about Rs 670 crore, in the second quarter of 2021…
Bajaj Allianz General Insurance in collaboration with Jankidevi Bajaj Gram Vikas Sanstha distributes 17 advanced life support ambulances in 17 citiesThe Company’s Savings Lives initiative was executed in response to the impact from the second wave of the Covid-19 pandemic which required the society to come together in “Saving Lives” of citizensUnder the Saving Lives initiative, the Company has also created a Covid-19 helpline feature within an app for employees, created an inventory of medical resources available across the country, procured & deployed Oxygen Concentrators, enabled access to Doctors 24*7 for all employees and agents, amongst other initiatives Lucknow,: Bajaj…
Designed to offer a rewarding shopping experience to its premium customers-Upto 10X Reward Points spends for Fabindia in-store spends- New Delhi : SBI Card, India’s second-largest credit card issuer and Fabindia, India’s largest retail platform for a wide range of handcrafted products by the artisans of the country, joined hands to launch an exclusive co-branded contactless credit card – Fabindia SBI Card. The card is designed with thoughtfully curated benefits and privileges to offer a rewarding shopping experience to its premium customers and comes in two variants – Fabindia SBI Card SELECT and Fabindia SBI Card. The new co-branded contactless…
New Delhi: Infosys will commence it’s up to Rs 9,200 crore buyback from June 25, wherein the IT major intends to buy back shares at a maximum price of Rs 1,750 apiece. The Board approval for the buyback was granted on April 14, 2021, and the shareholders’ nod was received on June 19, 2021, at the company’s 40th annual general meeting. The Bengaluru-based company has issued a public notice on Wednesday in various newspapers for the buyback of its equity shares from the open market through the stock exchange route. Kotak Mahindra Capital Company Ltd was appointed as the manager…
Mumbai: Hero MotoCorp will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from July 1. The price hike has been necessitated to partially offset the impact of continuous increase in commodity prices. The company continues to drive cost savings programme aggressively, in order to minimise the impact on the customer, Hero MotoCorp said in a statement. The price hike across the range of motorcycles and scooters will be up to Rs 3,000 and the exact quantum of the increase will depend on the basis of the model and the specific market.
New Delhi: Warren Buffett, one of the world’s leading investors, has resigned as a trustee of the Bill and Melinda Gates Foundation. “My goals are 100 percent in line with the foundation’s goals,” Buffett said on Wednesday. Along with this, he also announced to donate half of all the shares of his company Berkshire Hathaway to charity. Buffett, 90, has contributed more than $27 billion of his wealth to charity over the past 15 years. He was on the three-member board of the foundation along with Bill and Melinda Gates. Mark Suzman, chief executive officer of the Bill & Melinda…
New Delhi: Rating agency Moody’s Investors Services has reduced India’s growth rate forecast to 9.6 percent. Moody’s had earlier given a growth rate estimate of 13.9 percent. Even though the rating agency has projected a growth rate of 9.3 percent for the current year, but in view of the decline in GDP growth rate to 7.3 in the financial year 2020-21, the actual growth rate will remain 2.3 percent. In the financial year 2019-20, the growth rate was 4 percent. At the same time, in the first quarter of the financial year 2020-21, there was a decline of 23.9 percent…
MUMBAI: Amid negative cues from the international markets, the stock market declined today due to selling in groups like Oil & Gas, Utility, Metals, IT, Power and Banking at the domestic level. The 30-share Sensex Sensex of BSE Falling 282.63 points to 52306.08 points and National Stock Exchange (NSE) Nifty down 50.80 points to 15686.95 points. Like the sell-off in big companies, profit-booking was seen in small and medium companies too, due to which BSE Midcap fell 0.26 per cent to 22434.65 points and Small Cap fell 0.43 per cent to 24952.62 points. Most of the groups included in the…
Mumbai: The Sensex touched an all-time high of 53,057.11 in early trading today. But in the second off of the day, the selling pressure in the market showed increasing and the market lost all its gains. The market closed flat amid volatility at the end of trading. The Sensex closed at 52588.71 with a gain of 14.25 points or 0.03 per cent. At the same time, the Nifty closed at the level of 15772.80 with a gain of 26.30 points or 0.17 percent. BSE’s 30-share sensitive index Sensex rose 14.25 points to 52588.71 points. During this, the Nifty of the…
The price of bitcoin fell to a five-month low on Tuesday evening. This is being linked to the massive crackdown on cryptocurrency mining in China. The largest cryptocurrency had fallen to $29,511 at the time of filing the report. Its price has come down below $ 29,773 for the first time since January 22. This data is obtained from CoinMarketCap. Unocoin co-founder and CEO Satwik Vishwanath told Financial Express Online that China has been a big market for trading and mining of cryptocurrencies. He said that due to the new strict rules in China, it has suffered a setback, so…
Meerut : The world’s largest Science-based Ayurveda company Dabur India Limited has launched a unique campaign, ‘Dabur Sanitize Germs Protection Soap – Suraksha Hai Zaruri’, in Meerut to create awareness about the importance of hand-washing during this pandemic. Mr. Ajay Singh Parihar, Senior General Manager-Marketing, Dabur India Ltd, said, “The initiative aims to creating awareness about the importance of washing hands regularly particularly when we are facing a threat like COVID19. The importance of washing hands and its imperative need is now a well-established discourse but sometimes due to lack of resources and support, access to such sanitization becomes a…
New Delhi: The nationwide survey showed that 58 per cent of the companies witnessed ‘high impact’ of the state-level lockdowns on their businesses, while another 38 per cent reported ‘moderate impact’ on their operations. As states start to ease lockdown restrictions with declining number of daily Covid-19 cases, companies are hopeful of better performance in the next six to 12 months, according to a joint survey conducted by FICCI and Dhruva Advisors. The nationwide survey showed that 58 per cent of the companies witnessed ‘high impact’ of the state-level lockdowns on their businesses, while another 38 per cent reported ‘moderate…