Author: Finance Khabar
An attempt has been made to deal with the difficulty due to lack of oxygen due to increasing cases of corona virus. Hyper automation company Vuram has created a portal that can help people find the suppliers of oxygen near them. The “Oxygen Hall” portal will ease people who are finding it difficult to find suppliers of oxygen around them. They will be able to contact the verified oxygen suppliers nearest to them by entering their address on the portal. Vuram CEO Venkatesh Ramaratnam said that the platform will reduce the time it takes people to find suppliers of oxygen.…
The first 2 names in Asia’s richest have become Indian businessmen. While Mukesh Ambani is Asia’s richest businessman, Gautam Adani has now become the owner of the Adani Group at number two. At the same time, he is ranked 14th among the rich around the world. Gautam Adani’s wealth has increased tremendously this year. In the year 2021, his wealth has increased by about $ 3380 million, which is about 2.46 lakh crore. Talk about the top rich, this year he is second in terms of increasing wealth. At present, his total wealth has increased to Rs 4.93 lakh crore.…
SBI, the country’s largest public sector bank, recorded a record profit in the fourth quarter of FY 2021. During this period, the bank’s profit has increased by 80 per cent to about Rs 6451 crore. Whereas in the same quarter a year ago, the bank had a profit of close to Rs 3581 crore. There has been a huge jump in the fourth quarter profits due to the bank’s growth, net interest income, other income and reduced provisioning for bad loans. The bank has announced a dividend of 4 rupees on every share to shareholders for the financial year. SBI’s…
Mumbai: Snapping a losing streak of last two sessions, the BSE Sensex on Friday zoomed up 975.62 pts to 50,540.48 following gains in Bankex, Finance, Telecom, Power and Realty stocks. The Nifty too rallied 269.25 pts to 15,175.30. In early trade, the Sensex rose by 269 pts to 49,833. During the day it surged 1027 pts to 50,591.12, days high before closing at 50,540.48, rallied by 975.62 pts from its previous close. The sensex registered days high and low at 50,591.12 and 49,832.72 pts respectively. The Nifty recorded days high and low at 15,190 and 14,985.85 pts respectively. The sectoral…
New Delhi: For the nine-month accounting period of the last financial year 2020-21, the RBI has approved transfer of surplus of Rs 99,122 crore to the Central Government. The decision to transfer surplus to the central government was taken in a meeting of the central board of directors of RBI. This meeting took place through video conferencing. In the meeting, the RBI board also reviewed the current economic conditions, domestic and global challenges and the steps taken by the central bank to mitigate the effects on the economy due to the second wave of Corona. The accounting year of the…
Pharmaceutical company Cipla has introduced a third product regarding the testing of corona virus. Cipla announced the commercialization of its RT-PCR test kit Viragen on Thursday. The company has partnered with Ubio Biotechnology Systems for this. Its supply will start from May 25. Cipla said in the regulatory filing that this launch will help in tackling the challenges related to testing services and capacities in the country. Apart from this, the company will expand in the diagnostic space. Cipla has informed in a regulatory filing that the VeeraGen test kit will be launched in partnership with Ubio Biotechnology Systems. Supply…
New Delhi: If there is any transaction related to banking, it should be settled before Saturday, because it will be affected for about 14 hours from Saturday night to Sunday afternoon. According to the announcement made by the central bank RBI a few days ago, the National Electronic Fund Transfer (NEFT) service will be interrupted for about 14 hours from Saturday midnight to Sunday afternoon. According to the information tweeted by the central bank, funds transfer facility will not be available through NEFT due to technological upgradation during this period. According to the tweet by the central bank RBI, NEFT…
Kolkata: As part of its Shop Owners Benefit Program, PayNearby, India’s leading branchless banking and digital payments network, has tied up with Centrum Microcredit Limited, the micro finance arm of the Centrum Group, to facilitate unsecured business loans to its retail partners. As part of the tie-up, loan requirements will be sourced through PayNearby’s vast network of retailers and will be disbursed by Centrum Microcredit Limited. The solution is aimed at fortifying and driving the business growth of PayNearby’s retail partners, especially in these challenging times where businesses are struggling to stay afloat due to the economic fallout of COVID…
New Delhi:A joint forum of ten central trade unions on Thursday gave a call to observe ”Black Day for Indian Democracy” on May 26 by weaning black badges and putting up black flags to press the government for their demands on May 26. Their demands include free vaccination for all, free ration and Rs 7,500 per month for the poor, repealing three farm laws and minimum support price for crops and withdrawal of four labour codes passed by Parliament last year. These codes are not implemented so far because rules under those are yet to be notified. “It is time…
Mumbai: Domestic stock markets fell for the second consecutive day today due to selling in companies from metals, oil and gas and other sectors along with banking. The BSE 30-share sensitive index Sensex fell by 337.78 points, or 0.68 percent, to 49,564.86 points amid negative signals from overseas. The National Stock Exchange’s Nifty also lost 124.10 points, or 0.83 per cent, to close at 14,906.05. On Wednesday too, the Sensex and Nifty were down more than half a percent. After the ups and downs of trading, selling intensified in the last hour and a half. Companies in the metal, oil…
New Delhi: Tata Projects has won an order from the Chennai Metro Rail to build a nine-kilometre underground stretch with four stations for an estimated cost of Rs 1,999 crore. The project is part of the phase 2/corridor 3 of the Chennai metro and falls between Venugopal Nagar and Kellys Station, the company said on Wednesday without revealing the order value. A source at the company said the project is for Rs 1,999 crore. The work involves construction of the nine-kilometre twin bored tunnels, totalling 18 kilometres, from Venugopal Nagar to Kellys Station. The work has to be completed in…
Mumbai: RBI Governor Shaktikanta Das on Wednesday asked state-owned banks to quickly implement measures announced by the central bank recently in the ”right earnest”, and to continue focussing on steps to enhance the resilience of their balance sheets. Das during a meeting with the MDs and CEOs of public sector banks acknowledged the important role being played by PSBs in extending various banking facilities including credit facilities to individuals and businesses while tackling the challenges brought on by the pandemic. ”He impressed upon the banks to quickly implement the measures announced by RBI recently in the right earnest. He also…
New Delhi: The Ministry of Electronics and Information Technology has directed WhatsApp to withdraw its new privacy policy. The IT Ministry believes that changes in WhatsApp Privacy Policy and the way the proposed changes are introduced violate the right values of information privacy, data security and user choice and harm the rights and interests of Indian citizens. According to sources, the government has given WhatsApp seven days to respond to the notice and if no satisfied reply is received, necessary steps will be taken as per the law. In a communication to WhatsApp on 18 May, the ministry has once…
The way cryptocurrency bitcoin prices were seen increasing in the recent past, everyone was tempted by it. Increasingly people around the world were getting attracted to Bitcoin. But in the last few days, there has been a huge drop in cryptocurrency with one stroke. In fact, in terms of market capitalization, the world’s largest cryptocurrency Bitcoin has fallen at the moment. On May 19, Bitcoin broke down to $ 38,570 during intraday, its lowest level since February 9. Last month, the prices of bitcoin got wings. It touched an all-time high of $ 64,829 in April. Apart from bitcoin, Ethereum…
Profit booking has also been seen in the domestic stock market amid weak global cues. Both the Sensex and the Nifty have closed weakly in the business. The Nifty has closed below the 15050 level. The Sensex has fallen by almost 300 points. Bank, financial and auto stocks are being sold today, although there is some support from the pharma and realty sectors. Currently, the Sensex has fallen by 291 points at the end of trading and has closed at the level of 49,902.64. At the same time, the Nifty has closed at the level of 15030 after weakening by…
New Delhi: The Reserve Bank of India (RBI) said on Monday that the second wave of Corona has caused a huge reduction in demand. The RBI said in its monthly bulletin that the economic activity in the first quarter of the current financial year “did not decrease much but caused a loss” as Corona’s cases rebounded. RBI said that the second wave of Corona has created problems for India and the world. Attempts are being made on a war footing to prevent Corona cases. According to the bulletin, “Economic indicators have weakened in April and May. The second wave of…
Mumbai: Bharti Airtel on Monday reported a net profit of Rs 759 crore for the January-March quarter. During the same period of FY20, the company had reported a loss of 5,237 crore. Its revenues for the period under review rose 17.6 per cent to Rs 25,747 crore. India revenue was at Rs 18,338 crore increased by 17.5 per cent YoY on a comparable basis and 9.6 per cent YoY on a reported basis. Mobile revenues grew by 19.1 per cent YoY on comparable basis on account of the improved realizations as well as strong customer addition, said a company statement.…
New Delhi: In the month of April, wholesale inflation has seen a record breaking pace in the country. The wholesale inflation rate has increased to 10.49 per cent in April 2021. It is all time high. Whereas in March it stood at 7.29 percent, which was the highest in 8 years. Let us know that there is a continuous rise in wholesale inflation. Wholesale inflation stood at 4.17 percent in February. At present, inflation has broken all records in April. The Commerce Ministry stated that WPI inflation based on wholesale prices stood at 10.49 per cent in April 2021. This…
Mumbai: Equity benchmark Sensex zoomed over 848 points on Monday, driven by strong buying in banking shares amid a reduction in daily domestic COVID-19 caseload. The 30-share BSE index ended 848.18 points or 1.74 per cent higher at 49,580.73, and the broader NSE Nifty soared 245.35 points or 1.67 per cent to 14,923.15. IndusInd Bank was the top gainer in the Sensex pack, rallying over 7 per cent, followed by SBI, ICICI Bank, HDFC twins, Axis Bank, Bajaj Finserv and UltraTech Cement. On the other hand, L&T, Bharti Airtel, Nestle India, Sun Pharma and PowerGrid were among the laggards. According…
New Delhi: Market capitalization of eight of the country’s top 10 valued companies decreased by Rs 1,13,074.57 crore last week. Tata Consultancy Services (TCS), Infosys and HDFC Bank were the biggest losers. Of the top 10 valued companies, only two – Reliance Industries and State Bank of India – made profits on a weekly basis. The BSE Sensex fell by 473.92 points, or 0.96 per cent, in the week on a short trading day due to the holiday. TCS ‘market capitalization (MCAP) fell by Rs 30,054.79 crore to Rs 11,28,488.10 crore. Infosys’ market capitalization declined by Rs 15,168.41 crore to…