Author: Finance Khabar

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…

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…