Author: Finance Khabar
New Delhi: This include Personal income tax (PIT) refunds amounting to Rs 79,483 crore and corporate tax refunds amounting to Rs 1.34 lakh crore during the period between April 1, 2020 and March 22, 2021. The Income Tax Department on Wednesday said it has issued refunds worth over Rs 2.13 lakh crore to 2.24 crore taxpayers so far this fiscal. This include Personal income tax (PIT) refunds amounting to Rs 79,483 crore and corporate tax refunds amounting to Rs 1.34 lakh crore during the period between April 1, 2020 and March 22, 2021. “CBDT issues refunds of over Rs 2,13,823…
The domestic stock market has seen heavy selling amid weak global cues. Today the business started with weakness. Later this decline continued to grow. The Nifty has again shifted around 14550. At the same time, the Sensex also closed below 49200. Apart from the bond yield, there has been an increase in market concern in the growing cases of corona virus. At the end of trading at present, the Sensex has a weakness of 871 points and closed at the level of 49180. In intraday it weakened to the level of 49120. At the same time, the Nifty has closed…
MUMBAI: Domestic stock markets closed down on Monday due to continuing pressure on the stock market due to the continued rise in Corona cases domestically amid mixed signals from the global level. During this period, the BSE Sensex fell 86.95 points to close at 49,771.29 points and the National Stock Exchange’s Nifty also fell by 07.60 points to 14,557.85 points due to heavy selling in banking group companies and buying in IT sector companies. Stayed. The Sensex, however, saw an upward trend at the beginning of the day and the Sensex opened 20 points higher than the previous day, while…
Market valuation of eight of the 10 most valuable companies has fallen by Rs 1,38,976.88 crore last week. Among them, Reliance Industries and HDFC Bank have suffered the biggest blow. During the past week, the BSE benchmark has fallen by 933.84 points, or 1.83 per cent. Among the top 10 companies, Tata Consultancy Services (TCS) and Hindustan Unilever Limited have managed to end the week with profits in their market valuations. Market capitalization of Reliance Industries declined by Rs 35,976.08 crore to Rs 13,19,808.41 crore. The valuation of HDFC Bank fell by Rs 30,061.52 crore to Rs 8,25,024.73 crore. And…
New Delhi: Budget airline GoAir on Sunday announced its ‘Summer Sale’ with booking period starting from March 22-26. The travel period for the offer commences from March 22 – June 30 and comes with special features. According to the airline, these features have been crafted after analysis of customers’ needs. “The first and foremost feature is 5 kg extra baggage allowance without any extra cost. It has been noticed that customers are facing the quintessential challenge of optimal baggage and extra baggage this season is the ideal option for them,” the airline said. “Customers will also have the benefit of…
New Delhi: Positive annualised growth in exports and imports for three straight months has taken India’s trade deficit figures to pre-Covid levels, Acuite Ratings & Research said. In its report on the February Trade Balance, the ratings agency said that bulk of normalisation is likely to have been driven by the sharp increase in global commodity prices, especially in the last 4-5 months. “Going forward, as activity levels pick up further, the widening of India’s trade deficit would get reinforced,” it said. India’s merchandise trade deficit has eased to $12.6 billion in February 2021 from $14.5 billion in January but…
New Delhi: The mining reforms will play a fundamental role in enhancing the sector’s contribution to the employment and GDP of the country, contributing immensely to the vision of Aatmanirbhar Bharat, industry body FICCI said. The statement comes a day after the Lok Sabha passed a Bill to amend the Mines and Minerals (Development and Regulation) Act. The industry body said it has always advocated for increasing the contribution of mining industry to the national GDP; focusing upon increasing mineral exploration, production & domestic supplies, reducing financial stress for the miners, attracting investments into the sector and enhancing Ease of…
Jaipur, 20th March 2021: Home Raga, a leader in modular kitchen, wardrobes, home interiors, today launched its first centre in Jaipur, Rajasthan. The State of the Art centre in Jaipur, located at D-25, Jawahar Nagar, Raja Park, Jaipur was inaugurated by Mr Satish Punia, Rajasthan state Head BJP and Mr. Neeraj Gupta, Managing Director, Home Raga. Jaipur residents will now have wide access to modular kitchens, wardrobes and home interiors, from this trusted brand with premium quality, designs and choice. Home Raga, which already has two centres in Rajasthan situated in Kota and Bhilwara. reinforces its innate ability to stay ahead…
New Delhi: India needs to grow at 10.5-11 per cent in real terms in the next fiscal and sustain that to overcome massive ill-effects of the COVID-19 pandemic, Niti Aayog Vice Chairman Rajiv Kumar said on Friday. “We need to grow at 10.5 to 11 per cent in real terms 2021-22 and then sustain that to overcome massive ill-effects of the COVID-19 pandemic,” he said at an event held by National CSR Network. India’s economy is estimated to contract 8 per cent in fiscal 2020-21. The Niti Aayog VC also noted that the Indian economy is now surging towards a…
New Delhi: IDBI Bank on Saturday said it has deposited Rs 25 lakh towards Recovery Expense Fund (REF) with its designated exchange NSE. In October last year, markets regulator Sebi had asked listed companies, proposing to list debt securities, to set up REF so that action could be taken by debenture trustees in case of defaults by the issuer. “IDBI Bank has deposited Rs 25 lakh in cash, towards REF with its designated stock exchange —National Stock Exchange of India Ltd (NSE) on March 20, 2021,” IDBI Bank said in a regulatory filing. Privately placed debt securities/bonds worth Rs 14,695.60…
New Delhi: Net new enrolments with retirement fund body EPFO grew by 27.79 per cent to 13.36 lakh in January compared to the same month in 2020, according to the payroll data released on Saturday, providing a perspective on formal sector employment amid the coronavirus pandemic. “The provisional payroll data of EPFO published on 20th March, 2021, highlights a growing trend of subscriber base with the addition of 13.36 lakh net subscribers during the month of January 2021,” a labour ministry statement said. It stated that the data reflects growth of 24 per cent for the month of January 2021…
New Delhi: Private sector HDFC Bank’s loans to the Micro, Small and Medium Enterprises (MSME) sector crossed 30 lakh rupees on an annual basis by the end of December. The bank received help from the Government’s Emergency Credit Facility Guarantee (ECLG) scheme. The bank disbursed loans of over Rs 23,000 crore under the scheme brought to help the MSME sector during the epidemic. The bank said in a statement on Friday that the growth of loan to the MSME sector was helped by a special focus on semi-urban and rural customers. In December 2019, the bank’s loan to the MSME…
Mumbai: NTPC was the top gainer in the Sensex pack, rallying over 4 per cent, followed by HUL, PowerGrid, Reliance Industries, ITC, UltraTech Cement and Bajaj Finance. Snapping its five-session losing streak, equity benchmark Sensex rebounded 642 points on Friday, led by gains in index majors RIL, HUL and ICICI Bank despite negative cues from global markets. After opening with significant losses, the 30-share BSE index made a U-turn to end 641.72 points or 1.30 per cent higher at 49,858.24. The broader NSE Nifty surged 186.15 points or 1.28 per cent to finish at 14,744. NTPC was the top gainer…
New Delhi: The BSE benchmark has lost 2,062.99 points or 4 per cent in five trading sessions. On Thursday, the 30-share BSE benchmark tanked 585.10 points or 1.17 per cent to close at 49,216.52. Following the bearish trend, the market capitalisation of BSE-listed companies declined by Rs 8,04,216.71 crore to Rs 2,01,22,436.75 crore in five days. “Indian market has been in a corrective phase for the past 10 days due factors like high bond yields in the US and increased number of COVID cases being reported across the country,” said Hemang Jani, Head Equity Strategy, Broking & Distribution, Motilal Oswal…
New Delhi: Finance Minister Nirmala Sitharaman on Thursday said India received FDI worth Rs 26,000 crore in the insurance sector after 2015 when the foreign investment limit was raised to 49 per cent from 24 per cent. Replying to a debate on the Insurance (Amendment) Bill, 2021, Sitharaman said insurance companies are facing liquidity pressure and that is why the government was proposing to increase the FDI limit further. She said the foreign direct investment (FDI) is aimed at supplementing the domestic long term capital. Sitharaman said hike in foreign investment limit to 74 per cent will help meet the…
New Delhi: The Delhi High Court Thursday upheld the Singapore Emergency Arbitrator’s (EA) order restraining Future Retail Ltd (FRL) from going ahead with its Rs 24,713 crore deal with Reliance Retail to sell its business, which was objected to by US-based e-commerce giant Amazon. Justice J R Midha directed Kishore Biyani-led FRL not to take further action in relation to the deal with Reliance and held that the Future Group willfully violated the EA’s order. The high court imposed a cost of Rs 20 lakh on the Future Group and others associated with it and directed them to deposit the…
New Delhi: India ranked 56th globally in terms of price rise in the fourth quarter of 2020. According to the latest report by International Property Consultancy Knight Frank, India has fallen 13 places in the Global Home Price Index during the quarter ending in December 2020. The house prices in India have fallen by 3.6 per cent year-on-year compared to the 43rd rank in the fourth quarter of 2019, which caused its rank to decline in the world. The Global House Price Index tracks housing prices in 56 countries and territories. In the period from the fourth quarter of 2019…
Mumbai: Extending its losing streak to the fifth consecutive session, equity benchmark Sensex tanked 585 points on Thursday, tracking losses in index majors Infosys, RIL and TCS. After rallying nearly 500 points earlier in the day, the 30-share BSE index gave up all gains to end 585.10 points or 1.17 per cent lower at 49,216.52. The broader NSE Nifty slumped 163.45 points or 1.11 per cent at 14,557.85. HCL Tech was the top loser in the Sensex pack, shedding around 4 per cent, followed by Infosys, Dr Reddy’s, TCS, Reliance Industries, Tech Mahindra and NTPC. On the other hand, ITC,…
Mumbai: Weakness has been seen in the domestic stock market today also amid weak global cues. The market started cautiously but with ups and downs. At the end of the business, it closed on a big decline. Nifty slipped below 14750. The Sensex also closed below 50000. At the end of trading, the Sensex has fallen by about 562 points and closed at the level of 49,801.62. At the same time, the Nifty has a weakness of 189 points and has closed at the level of 14721. Even before this, there was pressure on the market on both days of…
New Delhi: BSNL’s 4G services will start in 18-24 months. The Central Government gave this information in Parliament on Wednesday, 17 March. In response to a question in the Lok Sabha, Union Minister of State Sanjay Dhotre gave this information in a written reply. BSNL on 1 January 2021 had asked for Expression of Interest (EoI) for Prior Registration / Proof of Concept (PoC) from Indian companies to participate in the upcoming 4G tender. Revival plan of BSNL was approved by the central government in 2019, two years ago. Under this, the plan includes the administrative allocation of spectrum for…