Author: Finance Khabar
New Delhi: Power transmission and retail distribution company Adani Transmission Limited (ATL) has signed definitive agreements with Essel Infraprojects Limited (EIL) for the acquisition of Warora-Kurnool Transmission Limited (WKTL) for an enterprise value of Rs 3,370 crore. The regulatory approval for substitution of original awardee in the contract by Adani Transmission has already been received from Central Electricity Regulatory Commission. The lenders consent and other necessary regulatory approvals shall be obtained before closure of transaction. In a statement on Saturday, Adani Transmission said that the acquisition is in sync with its strategy to enhance the value for its stakeholders, through…
On the same day JSW Steel surpassed Tata Steel to become the largest steel maker, on the same day it has joined another competition with its closest competitor. On March 26, Sajjan Jindal-owned JSW Steel filed an Expression of Interest for the acquisition of a stake in the state-owned steel maker Nilanchal Ispat Nigam Limited. Let us tell you that Nilanchal Ispat Nigam Limited is located in Kalinga Nagar, Odisha which is just 10 minutes drive from Tata Steel plant. Tata Steel and ArcelorMittal Nippon Steel India are already in the race for acquisition in Nilanchal Ispat Nigam Limited. According…
New Delhi: In the general budget presented for the financial year 2021-22, Finance Minister Nirmala Sitharaman set a target of raising Rs 1.75 lakh crore through disinvestment. Chief Economic Advisor KV Subramanian said the disinvestment target of Rs 1.75 lakh crore for FY21-22 is achievable. Subramaniam said that the central government is expected to get Rs 1 lakh crore from the IPO of LIC alone. The Chief Economic Advisor said that to achieve the target of disinvestment of Rs 1.75 lakh crore, the government will also get a large amount from the privatization of Bharat Petroleum Corporation Limited along with…
New Delhi: Culture of work from home and study from home has increased rapidly due to Corona epidemic. However, the biggest problem is coming in front of it as network speed. Most of the people in India are struggling with the problem of data network because here the data network is getting available on mobile with a downloading speed of around 12.40 Mbps. If we compare it with the neighboring country Pakistan, then the situation is not good there but better than India. In Pakistan, the mobile data speed is getting from the speed of 17.73 Mbps. Talking about countries…
Mumbai: The domestic stock market has seen a good boom amid better global cues. Both the Sensex and Nifty indices have closed strongly in the business. The Sensex has closed beyond 49000. At the same time, the Nifty has also closed beyond 14500. There is an all-round boom in today’s business. There have been good purchases in banks, financials, metal and auto stocks. There has been a boom in other sectors as well. Currently, the Sensex has gained 568 points at the end of business and closed at the level of 49009. At the same time, the Nifty has closed…
New Delhi: Noting that there is no choice but to either privatise or close Air India, he said the government will have to keep the airline running till it gets divested. The government is looking at a new timeline for Air India disinvestment and financial bids will be invited in the coming days, Union minister Hardeep Singh Puri said on Friday. Noting that there is no choice but to either “privatise or close” Air India, he said the government will have to keep the airline running till it gets divested. “We are looking at another timeline now, what is called…
Wave Mega City Center (WMCC) Private Limited, the company that was developing mega commercial – cum – residential project in Noida has filed an application in NCLT to initiate voluntary resolution process to protect the interest of hundreds of buyers in the project, who are left stranded after an unreasonable decision of Noida Authority. Noida Authority’s abrupt decision to seal the residential-cum-commercial project in the prestigious Sectors 32 and 25 is being seen as an attempt to settle a commercial dispute through arbitrary means. Wave Mega City Center (WMCC) has invested over Rs 3,800 crore in the project which includes…
RBI Governor country is now fully prepared to deal with any crisis. New avenues should be created in the financial sector regarding service delivery in an effective manner. Regarding this, RBI Governor Shaktikantha Das called for the need for effective regulation that helps instead of discouraging innovation in the fintech space. In an event on Thursday, the central bank Governor Das said that effective regulation is in place for the RBI. Apart from this, he said that maintaining the health of banking sector and ethics-drive governance with strong capital base is also in the policy priority of the central bank.…
On March 25, there was a sharp sell-off in the domestic stock market amid mixed global signals. In the intraday, the Sensex lost about 900 points and weakened to the level of 48,236, while the Nifty also came close to 14300. At the end of trading, the Sensex had a weakness of 740 points and closed at 48,440. At the same time, the Nifty lost 225 points and closed at 14325 level. Banks, auto, IT, FMCG and realty stocks have fallen drastically. Weakness has been seen in other sectors as well. 3.5 lakh crore rupees of investors have been drowned…
Mercedes-Benz’s A-Class Limousine has been launched in India with an initial showroom price of Rs 39.90 lakhs. The 2020 Mercedes-Benz A-Class Limousine is offered in three variants – Limousine Petrol, Limousine Diesel and AMG A-Class. The diesel model of the car has been priced at Rs 40.90 lakh, while the showroom price of AMG A35 has been kept at Rs 56.24 lakh. This car has been launched in the global market only in 2018, which was showcased at the 2020 Auto Expo and now it has been brought to the Indian market. The Mercedes-Benz A 200 Limousine is powered by…
The 15-day mega talent hunt concludes in a Grand Finale on 31 March 2021Celebrity mentors Raghu Ram-Rajiv and Santosh Shukla join Sunny at the Finale Lucknow: Josh, India’s fastest growing and most-engaged short video app, launched its first original IP ‘World Famous’ – a mega talent hunt, in Lucknow last week. A week to go for the Grand Finale, #joshworldfamoushas already received over 16.8K video entries in its first week and continues to inviteregistrations till 30 March 2021. The Grand Finale on 31 March 2021 has been planned as an ultimate celebration of performers, entertainers, and artists across Lucknow. The…
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…