Author: Finance Khabar
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…
New Delhi: Bharti Airtel and the Tata Group on Monday announced a strategic partnership for implementing 5G networks solutions for India. Tata Group has developed a ‘state of the art’ O-RAN based Radio & NSA/SA Core and has integrated a totally indigenous telecom stack, leveraging the group capabilities and that of its partners. This will be available for commercial development starting January 2022, said a statement. Tata Consultancy Services (TCS) brings its global system integration expertise and helps align the end-to-end solution to both 3GPP and O-RAN standards, as the network and equipment are increasingly embedded into software, it said.…
The country’s largest car company Maruti Suzuki will increase the prices of its cars from next month. The company has said that it will increase the prices of its cars from the month of July. In a regulatory filing of the stock exchange, the company has said that since the cost of car manufacturing is increasing, there is no option but to pass the burden on the customers. In a notice filed on the stock exchange on Monday, Maruti Suzuki has said that due to the increase in various input costs over the years, the cost of car manufacturing on…
MUMBAI: The open domestic stock market was finally able to make gains with a dive in early trade due to the fall in Asian markets, as the BSE Sensex rose 230 points and the National Stock Exchange’s (NSE) Nifty rose 63 points. BSE’s 30-point sensitive index Sensex rose 230.01 points to 52574.46 points and NSE’s Nifty gained 63.15 points to 15746.50 points. Along with the previous companies, the trend of buying in small and medium companies also continued, due to which BSE Midcap rose 0.82 percent to 22420.06 points and Smallcap rose 0.83 percent to 24854.25 points. During the session,…
NIIT Foundation will be the first partner association; to provide 100% placement assistance to the students as they learn New Delhi: Online gaming pioneer and industry leader, Zupee, today announced the launch of their skilling academy, which will impart employable skills and promote equal opportunities in the youth of the country. Zupee Skilling Academy (ZSA) will be a first-of-its-kind mission by a corporation, aimed at skilling, upskilling and educating young, disadvantaged Indians. The idea is to prepare them for the future by getting them ready through skill training and ensuring that everyone in the program has equal opportunities for employment.…
New Delhi: Air India is controlled by the Indian government so much that they are alter egos , Cairn had said in the lawsuit filed with the US District Court for the Southern District of New York. Air India has time till mid-July to challenge the lawsuit filed by Britain’s Cairn Energy PLC demanding that a US federal court force the airline to pay a USD 1.26 billion arbitration award it had won against the Indian government in December last year, sources said. Air India is controlled by the Indian government so much that they are “alter egos”, Cairn had…
New Delhi: The automaker, which sells models like Hector and Gloster in the domestic market, expects the industry to post a growth of about 20 per cent in 2021 calendar year as compared with last year. MG Motor India expects sales to recover gradually over the next few months with various states removing restrictions on business activities due to improvement in COVID situation, as per a top company official. The automaker, which sells models like Hector and Gloster in the domestic market, expects the industry to post a growth of about 20 per cent in 2021 calendar year as compared…