Author: Finance Khabar
The Nasdaq closed at record highs Tuesday, led by a surge in shares of Tesla (NASDAQ:TSLA) as the electric automaker continued its drive higher following its upbeat results last week showing record deliveries. The S&P 500 rose 1.5% to close at a record high, while the Nasdaq Composite surged 2.10% to a record. The Dow Jones Industrial Average gained 1.44%. Tesla was soaring, but saw sharp selling just before the close. There were unconfirmed rumors of a seondary offering, but shares still ended the day 15% higher. Shares have been on fire this week, with rises showing the hallmarks of…
New Delhi: Ujjivan Small Finance Bank (USFB) on Tuesday said it has used the entire Rs 746 crore equity capital that it raised through an IPO in December. “Entire amount has been utilised to meet the future capital requirement of the Bank. There is no amount unspent,” USFB said in a regulatory filing. The lender had raised Rs 745.95 through an initial public offer (IPO) in December 2019. The company said the funds were raised to “augment to tier-1 capital base to meet future capital requirement of the bank”, it said. USFB stock was trading at Rs 53.50 on the…
New Delhi: The tax department on Tuesday clarified that the Budget proposal of 10 per cent TDS will be applicable only on dividend payment by mutual funds and not on gain arising out of redemption of units. Finance Minister Nirmala Sitharaman had in Budget 2020-21 scrapped dividend distribution tax (DDT) paid by companies and mutual funds on dividend paid to shareholders or unit holders. In place, it was proposed to levy tax deducted at source (TDS) of 10 per cent on dividend/income paid by a company or mutual fund to its share/unit holder if the amount of such dividend/income exceeds…
New Delhi: On account of slide in the global crude oil prices, the Indian indices pares its losses of Saturday and Monday trade sessions. The BSE Sensex skyrocketed 917 points and closed at 40,789 levels while the Nifty-50 index surged 271 points and closed at 11,979 levels. Bank Nifty index shot up 663 points and closed at 30,686 levels. Speaking on the current market scenario Simi Bhaumik, a SEBI registered tax and investment expert said, “Nifty has strong support at 11,800. But, 12,000 is crucial. if Nifty breaks the 12,000 levels and sustains above this level, then we can expect…
Lucknow: Kalyani Group, Indian multi-national conglomerate with technology, engineering & manufacturing leader set for the global unveiling of its indigenously developed products at DefExpo 2020. Kalyani Group’s unmatched metallurgical knowledge, design, engineering and manufacturing capabilities has carved the path to establishing its presence in prominent sectors of national interest like Defence and Aerospace. Kalyani Group’s flagship company Bharat Forge aspires to make the Indian defence sector a self-reliant and lead the ‘Make in India’ narrative. The Defence Expo will witness the following announcements on behalf of Kalyani Group: Bharat Forge Limited to collaborate with General Atomics to develop new technologies…
New Delhi: Baird analyst Colin Sebastian said the earnings report showed “a deceleration” in growth for Google, which may have been due to the impact of fewer holiday shopping days. The results come with the Google facing intense pressure around the globe over its dominance of the online ecosystem. Google parent Alphabet missed revenue expectations in the fourth quarter despite stellar growth at YouTube and in the cloud, earnings figures released Monday showed. Detailing its cloud computing and YouTube revenues for the first time, Alphabet reported that profits rose 19 percent from a year ago in the quarter to nearly…
New Delhi: Punjab National Bank (PNB) Tuesday, reported a standalone loss of Rs 492 crore for the quarter ended December 31 down from a profit of Rs 246 crore in the same period last year. Shares of State-run Punjab National Bank (PNB) Tuesday fell 1.66 per cent as the lender reported a standalone loss of Rs 492 crore for the quarter ended December 31 down from a profit of Rs 246 crore in the same period last year. Meanwhile the consolidated loss of Rs 384 crore reported by the bank. PNB was expected to report a profit after recoveries made…
Kuala Lumpur: AirAsia CEO Tony Fernandes has temporarily stepped down while Malaysias anti-corruption commission investigates alleged bribes paid by European aircraft manufacturer Airbus. Besides Fernandes, the airlines’ Executive Director Kamarudin Meranun also stood down on Monday night, reports Efe news. “Kamarudin Meranun and CEO Anthony Francis Fernandes, have notified the Committee that they will relinquish their executive positions within the Group, effective immediately, for a period of two months or such other period that the Company may deem fit,” an AirAsia statement said. The airline added that “as advisors, they will not have executive authority within the Group”. The announcement…
New Delhi: Bajaj Auto on Tuesday reported 3.1 cent decline in total sales at 3,94,473 units in January. The firm had sold a total of 4,07,150 units in January 2019, Bajaj Auto said in a statement. Total domestic sales were down 16.6 per cent at 1,92,872 units as compared to 2,31,461 units in the year-ago month, it added. The two-wheeler sales in domestic market were at 1,57,796 units last month against 203,358 units in January 2019, down 22.4 per cent.
Mumbai: Reserve Bank of India Governor Shaktikanta Das has been selected as the Central Banker of the Year, Asia-Pacific for 2020 by London based ‘The Banker’ magazine. Das has been honoured for managing Indian banking sector faced with a series of challenges such as non-performing loans to issues around fraud, repeated economic slumps, which saw the central bank cut interest rates five times during 2019, and it was open to cutting them again if necessary. Das also brought in measures to tighten the rules around shadow banking. He has also been credited for being proactive in providing assistance to India’s…
Annual subscription packs starting at Rs.500 per annum gives access to trading, mutual funds, investments and loans Pune, Maharashtra: Bajaj Financial Securities Limited (BFSL), a 100% subsidiary of Bajaj Finance Limited, is offering a range of capital market solutions, with differentiated offerings for Ultra-High Net Worth Individuals (UHNI) and retail customers. BFSL is offering two annual subscription packs which will help traders and investors accrue higher savings with regards to the brokerage that they are paying. With a core focus on simplifying, streamlining and offering convenient solutions, Bajaj Financial Securities Limited aims to acquire UHNI clients, through its existing relationships,…
New Delhi: The further public offering (FPO) of ITI, priced at Rs 1,400-crore, has been subscribed 57 percent on February 3, its eighth day.The public issue has received bids for 10.44 crore equity shares against its FPO size of 18.18 crore shares, data from the exchange showed. The portion set aside for retail investors subscribed 1.02 times, while that of qualified institutional buyers was 59 percent and non-institutional investors at 17 percent. Due to a muted response, the state-owned telecommunications technology company, on January 28, revised the offer price band to Rs 71-77 per share, up from Rs 72-77 earlier…
New Delhi: No Hero, Honda, Bajaj, TVS, Royal Enfield or Yamaha will be seen this year in Delhi Auto Expo, even while Piaggio will showcase its Vespa and Aprilia brands. The only prominent name at the event is Suzuki Motorcycles. Likewise in cars, there are just a handful of manufacturers present this time around. Tata Motors, Mahindra & Mahindra, Maruti Suzuki and Hyundai are among the big ticket names which will display their offerings. Kia Motors, part of the Hyundai group that has caught the fancy of Indian customers with its Seltos SUV, will be a big draw this time.…
New Delhi: Indian Railway Finance Corporation (IRFC), is likely to be listed in mid-March this year, said multiple sources in the know. For the present fiscal (2019-20), Railways’ borrowing target has been increased by almost ₹10,000 crore, an 18 per cent jump from the budgeted ₹55,471 crore. For the next fiscal (2020-21) though, the market borrowing arm has a budgeted target to raise ₹58,000 crore, lower than the ₹65,471 crore in the present fiscal. The public sector enterprise filed its draft offer document for the initial public offer with SEBI in January this year. From the over ₹65,000 crore that…
Gurugram: Honda Motorcycle & Scooter India Pvt. Ltd. today announced its sales ending January, 2020. Honda closed January 2020 with total sales of 4,03,383 units. This includes domestic sale of 3,74,091 two-wheelers and exports of 29,292 units. Sharing status on Honda’s BS-VI migration, Mr. Yadvinder Singh Guleria, Senior Vice President – Sales & Marketing, Honda Motorcycle & Scooter India Pvt. Ltd. said, “By January’20 end, Honda’s BS-VI production increased to 60% of its total business volume and beginning February 2020 we are achieving 100% transition to BS-VI production. Our new BS-VI launches have received a good response, and we are witnessing increased walk-ins’ at our…
New Delhi: Rating agency Fitch on Monday said India is expected to clock a GDP growth of 5.6 per cent in the FY’21, lower than the projection made by the government’s Economic Survey, as Budget 2020 has not “materially altered” its view on the country’s growth outlook. The Economic Survey, released a day before Finance Minister Nirmala Sitharaman presented Union Budget for 2020-21 on February 1, had projected a GDP growth of 6-6.5 per cent, up from 5 per cent estimate for 2019-20. Sitharaman’s Budget missed deficit target for the third year in a row, pushing shortfall to 3.8 per…
Shanghai: Chinese stocks collapsed on Monday with hundreds of firms plunging by the maximum 10 per cent as investors got their first chance in more than a week to react to a barrage of bad news from the spiralling coronavirus outbreak. The benchmark Shanghai Composite Index ended the morning session down 8.13 per cent, or 241.87 points, at 2,734.66, while the Shenzhen Composite Index, which tracks stocks on China’s second exchange, was down 8.30 per cent, or 145.78 points, to 1,611.04. Hong Kong went into the break 0.09 per cent, or 23.78 points, up at 26,336.41 on bargain-buying after being…
New Delhi: Amara Raja Batteries Limited has posted a profit of ₹164.41 crore for the third quarter ended December 31, 2019, against ₹130.89 crore logged in the corresponding quarter of last year. The battery major reported a revenue of ₹1,747.81 crore in Q3 FY20, against ₹1,694.66 crore for the corresponding quarter, registering a growth of 3 per cent.The earnings per share (EPS) for Q3 FY20 was at ₹9.63. The original equipment (OE) and telecom sectors continue to experience demand slowdown. However, the replacement demand for Amaron, Power Zone and Quanta batteries across market segments helped the company achieve healthy volume…
New Delhi: Petronet LNG has reported a ₹440-crore profit for the fourth quarter of financial year 2018-2019. This is 15.87 per cent lower than the ₹523 crore bottom-line reported by the company in the same quarter of the last financial year. The company’s board of directors has recommended a 45 per cent dividend at ₹4.5 for each equity share of ₹10 each. The profits during the quarter under review have been hit by an inventory loss of ₹119 crore. “The spot price of natural gas has fallen from $8.5 per million British thermal units (mBtu) at the beginning of the…
New Delhi: The PMI survey additionally cited an uptick in business self belief, factories’ output recorded a grand establishing in January, as Purchasing Managers’ Index (PMI) for production surged to 55.3 in the month, the best in almost 8 years. Manufacturing PMI is compiled by IHS Markit from responses to questionnaires sent to purchasing managers in a panel of around 400 manufacturers. The panel is stratified by detailed sector and company workforce size, based on contributions to GDP. The responses are collected in the second half of each month, and indicate the direction of change compared to the previous month.…