Author: Finance Khabar

New Delhi: Good shopping was seen in the domestic stock market today amid better global cues. Both the Sensex and Nifty indices remained strong in the business and closed with an increase at the end of trading. The Sensex opened at 51,381.27 points today in the beginning of trading. After this it reached 51,529.32 points. At the end of trading, it closed with a gain of 307 points at 51,422.88 compared to the previous trading day. Of the 30 stocks listed on the Sensex, 13 closed in green signal while the remaining 17 closed in red. Reliance and M&M were…

New Delhi: Mahindra & Mahindra, one of the country’s leading automobile companies, posted consolidated profit of Rs 1,635 crore for the quarter ended March 2021. In comparison, the company suffered a consolidated loss of Rs 588 crore during the quarter ended March 2020. The company has also announced a dividend for its shareholders at the rate of Rs 8.75 per share. Shares of the company closed at Rs 847, up 2.22 per cent after the results were announced. Mahindra & Mahindra has informed in a regulatory filing on Friday that its consolidated net profit during the last full business year…

Mumbai: The National Stock Exchange’s Nifty climbed for the fifth consecutive day today, closing at a new peak amid strong investment sentiment in the domestic stock markets. The Nifty led by banking, IT and auto sectors closed at 15,337.85, a 36.40 point or 0.24 percent increase, its highest level ever. Earlier, on February 15, the record had closed at 15,314.17. BSE’s 30-share sensitive index Sensex also strengthened for the second consecutive day and gained 97.70 points, or 0.19 percent, to 51,115.22 points, the highest level since March 10. Among the Nifty companies, Shree Cement shares rose the most by 4.12…

Thiruvananthapuram: IBS Software, a leading SaaS technology provider for the travel industry, has announced that it has reached an agreement with LATAM Airlines Group to implement its iFly Loyalty platform, enabling the airline to manage its loyalty programs from a single modern platform. “iFly Loyalty will also allow LATAM to move away from a traditional, outdated and costly data center infrastructure. Upon completion of the transformation, IBS Software’s cloud-native iFly Loyalty platform will power the entire technology stack that drives LATAM’s loyalty business,” Marcus Puffer, VP and Head of Loyalty Management solutions, IBS Software, said in a press release here…

Chennai: Royal Enfield – an famous brand in India, the world’s biggest motorbike market, will shut its three manufacturing plants from May 27 to May 29, the internal note to workers said. Eicher Motors Ltd-owned Royal Enfield will shut its three south Indian manufacturing plants for three days to ensure safety amid rising COVID-19 cases, according to an internal note seen by Reuters and two sources. Royal Enfield – an famous brand in India, the world’s biggest motorbike market, will shut its three manufacturing plants from May 27 to May 29, the internal note to workers said. “We will resume…

Mumbai: The domestic stock market has seen good growth amid mixed global signals. Both the Sensex and the Nifty have closed strongly in the business. The Nifty has closed beyond the 15300 mark. At the same time, the Sensex has also closed with a gain of 380 points. Sensex has crossed 51 thousand for the first time after 12 March. The market has got support from buying in IT shares. While metal and government bank stocks are selling. Currently, the Sensex has gained 380 points at the end of trading and has closed at the level of 51,017.52. At the…

New Delhi: The impact of the second wave of Corona has started showing on the economy as well. British brokerage firm Barclays has cut its GDP growth estimate for the financial year 2021-22 by 0.80 per cent. According to Barclays’ estimate, Indian GDP will grow at 9.2 per cent in the current financial year. The British brokerage firm has cut this in the estimate of Indian GDP growth due to the second wave of Corona epidemic. Barclays says the second wave turned out to be more dangerous than anticipated. Barclays lowered GDP growth estimates for the second time in this…

New Delhi: Foreign direct investments (FDI) into the country grew 19 per cent to USD 59.64 billion during 2020-21 on account of measures taken by the government on the fronts of policy reforms, investment facilitation and ease of doing business, the commerce and industry ministry said on Monday. Total FDI, including equity, re-invested earnings and capital, rose 10 per cent to the “highest ever” of USD 81.72 billion during 2020-21 as against USD 74.39 billion in 2019-20. “FDI equity inflow grew by 19 per cent in 2020-21 (USD 59.64 billion), compared to 2019-20 (USD 49.98 billion),” the ministry said in…

Mumbai: The domestic stock market has seen a boom amid mixed global signals. The Nifty has reached close to 15200 at the end of business. At the same time, the Sensex has also closed stronger by more than 100 points. The market has gained support in banks and financial stocks. At the same time, weakness in metal stocks has put a break on the boom. Currently, the Sensex has gained 111 points at the end of trading and has closed at the level of 50,652. At the same time, the Nifty has gained 22 points and has closed at the…

New Delhi: The much-awaited 5G services roll-out is expected to spur telecom contractual staffing over the next two years and will emerge as a key driver for hiring activities in the sector, according to a senior official at TeamLease. The Department of Telecom (DoT) already set the ball in motion for 5G trials earlier this month, when it approved applications of telecom companies including Reliance Jio, Bharti Airtel, Vodafone Idea for conducting the trials. According to Deval Singh, Business Head- Telecom, IT and ITES, Media and Government, TeamLease Services, the outlook for contractual hiring in the sector remains positive, notwithstanding…

New Delhi: Overseas investors withdrew Rs 4,444 crore from Indian markets in May so far amid concerns over the second wave of the coronavirus pandemic and its possible impact on the Indian economy. As per depositories data, foreign portfolio investors (FPIs) took out Rs 6,370 crore from equities but pumped in Rs 1,926 crore in the debt segment between May 1-21. This took the total net outflow to Rs 4,444 crore. “The concern over the second wave of coronavirus pandemic and its possible impact on the Indian economy continue to keep foreign investors on the sidelines and restrain them from…

Lucknow: Industry body Assocham has demanded from the government a ‘concentrated and right kind’ of relief package for MSME sector, which was most affected by covid-19 pandemic. “Yes, there is a need for a relief package which has to be directed very carefully. We at Assocham believe that both the Centre and the states need to come together with certain plans, so that we can give a concentrated, focused and the right kind of relief to whoever needs it the most,” Assocham president Vineet Agarwal told PTI on Sunday. Suggesting some measures, he said banks should increase working capital limit…

New Delhi: The GST Council is its upcoming meeting, scheduled to be held on May 28, is likely to take a call on levy of 12 per cent tax on import of oxygen concentrators for personal use. The Delhi High Court last week said that imposition of 12 per cent Integrated GST (IGST) on oxygen concentrators for personal use or those received as gifts is “unconstitutional”. The Court’s observation came on a plea filed by an 85-year old COVID patient whose relative had sent oxygen concentrator from the US. It also quashed a May 1 notification of the Finance Ministry…

New Delhi: The Indian Banks’ Association (IBA) on behalf of lenders has approached the finance ministry to refund the burden fallen on their shoulders due to a recent Supreme Court judgment on the waiver of compound interest on all loan accounts which opted for moratorium during March-August 2020. The March judgment of the apex court directed the banks to waive off compound interest on loans above Rs 2 crore availing moratorium as loans below this got blanket interest on interest waiver in November last year. Compound interest support scheme for loan moratorium cost the government Rs 5,500 crore during 2020-21,…

The yellow metal (Gold) is known as the safe– haven asset since ages due to its steady returns it provided even in pandemic like situations. If you wish to buy gold or invest but feel left out or scared of going out in the pandemic then here’s the good news for you- Now buy genuine gold from the comfort of your home through RBI’s Sovereign Gold Bond (SGB) Scheme 2021 subscription, second tranche opening from May 24 – May 28 at subscription price of Rs 4,842 per gram. Gold prices in India are currently hovering around Rs. 48,000- 50,000 per 10 gram…

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…