Author: Finance Khabar
New Delhi: At the current historic high fuel price levels in the country, the marketing margin taken by the oil marketing companies (OMCs) on retail sale of petrol and diesel has touched a high of over Rs 3 per litre. The oil price rise may be hitting the fuel consumers hard, but it is the oil companies that are making the most from the current situation, strengthening their margin on the sale of petrol and diesel and jacking up profits. At the current historic high fuel price levels in the country, the marketing margin taken by the oil marketing companies…
New Delhi: The telecom spectrum auction, which lasted two days, ended. The telecom secretary said that airwaves worth Rs 77,814.80 crore were purchased in two days. Reliance Jio was the biggest buyer, having made orders worth Rs 57,122.65 crore. Vodafone Idea purchased spectrum worth 1,993.40 crore in the auction. Bharti Airtel has acquired Radio Waves worth Rs 18,699 crore. Telecom Secretary Anshu Prakash said that the auction of telecom spectrum was concluded on Tuesday. A total of 855.60 MHz spectrum worth Rs 77,814.80 crore was purchased in two days. Bharti Airtel has acquired Radio Waves worth Rs 18,699 crore in…
Amidst strong global cues, the domestic stock market has seen a great boom on 2 March i.e. Tuesday. Both the Sensex and Nifty indices have closed strong in the business. The Nifty has gone beyond the 14900. At the end of trading, the Sensex has gained about 447 points and has closed at the level of 50,296.89. At the same time, the Nifty has also closed 158 points strong at the level of 14919. In today’s business, all other indices, except the government bank index, have closed strong. Auto and IT stocks have been good. Mahindra & Mahindra and NTPC…
The government has extended the deadline for filing the annual return of Goods and Services Tax (GST) for the financial year 2019-20 till March 31. This is the second extension given by the government. Earlier this deadline was extended from 31 December 2020 to 28 February 2021. The Finance Ministry said in a statement that in view of the difficulties faced by taxpayers in filing returns within the deadline, the government has extended the deadline to fill GSTR-9 and GSTR-9C for 2019-20. This extension has been done with the approval of Election Commission in the deadline. Returns have to be…
Noida: There is a plan to build a finance city in Noida near Delhi. It will be developed as a hub of financial companies on the lines of Mumbai. The Yamuna Expressway Industrial Development Authority is drawing its blueprint. For this, the Chief Minister of Uttar Pradesh Yogi Aditya Nath has got the green signal. 20 thousand crore rupees are expected to be invested in Fin City. It is estimated that 50 thousand youths will get employment. Chief Executive Officer of Yamuna Expressway Industrial Development Authority, Arun Veer Singh said that a plan has been prepared by the Yamuna Development…
New Delhi: Axis Bank on Saturday said its board has approved a proposal to reclassify United India Insurance Company Ltd (UIICL) as a public shareholder category investor in the bank from promoter category. UIICL, one of the promoters of Axis Bank, had requested the bank through a letter dated February 26, 2021 to reclassify the insurer to public category from promoter category, in accordance with listing regulations of Sebi, Axis Bank said in a regulatory filing. “The said letter was placed for consideration of the board at its meeting held today…The board at the said meeting has considered and approved…
Mumbai: Equity market investors have become cautious these days due to the fluctuations in the stock market. The Sensex has seen a decline since its record high and has broken more than 3,400 points in the last 10 days. The market reached its record high on 16 February. SENSEX touched 52516 level. At the same time, 10 days later, on February 26, the Sensex closed at the level of 49,100. Many such factors are present in the market, due to which this fluctuation in the market can continue for a few days. In such a situation, if you are a…
New Delhi: The Indian economy has come out of recession and it grew at a rate of 0.4 per cent in the third quarter of October-December 2020 in the current financial year 2020-21. Earlier, there was a decline of 24.4 per cent in the first quarter of the current financial and 7.3 per cent in the second quarter. With growth in the third quarter, India became one of the countries in which the economy improved in the fourth quarter of 2020 (October-December 2020) last year, while in some European countries, the decline in the July-September 2020 quarter exceeded the October-December…
New Delhi: The production of India’s eight major industries remained flat on a year-on-year basis during January 2021. The Index of Eight Core Industries’ reading for last month showed a rise of just 0.1 per cent in output from an expansion of 2.2 per cent in the same month last year. On a sequential basis, the output of eight major industries had expanded by 0.2 per cent in December 2020. ECI index comprises 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). These industries comprise coal, crude oil, natural gas, refinery products, fertilisers,…
Mumbai: In the face of severe criticism over Wednesday’s four-hour-long trading halt, the National Stock Exchange said on Friday that it ‘sincerely regrets the incident. At a time when questions are being raised as to why the disaster recovery site did not come to the rescue during the incident, the NSE said that it took the decision of not migrating to the recovery platform after detailed consultation and evaluation. Capital market regulator SEBI, which has sought a detailed root cause analysis from the exchange, has also asked the NSE to explain the reason for not migrating to the recovery site.…
New Delhi: In the current financial year 2021-21, the fiscal deficit of the central government reached Rs 12.34 lakh crore by the end of January. This is about 66.8 percent of the revised budget estimate. In the last financial year 2019-20, by the end of January, the fiscal deficit had reached 128.5 per cent of the revised estimates. This data was released by the Controller General of Accounts (CGA). According to the data released by the CGA, by the end of the current financial year 31 March 2021, the fiscal deficit can reach 9.5 per cent of GDP at about…
Mumbai: Due to weak global sentiment, there is a huge decline in the stock market today. The Sensex has closed down by 1939 points. At the same time, the Nifty has also slipped around 14500. In fact, due to the US air strike on Syria, the market sentiments around the world have weakened today. At the same time, profit recovery has also increased due to the increase in bond yield. Yesterday, the US markets closed on a huge decline. Today, there is a sell in Asian markets. At the end of trading at present, the Sensex is down by about…
New Delhi: On Wednesday, the price of gold has fallen by Rs 358 to Rs 46 thousand per 10 gram (Gold price today) in Delhi’s Sarafa Bazar. According to HDFC Securities, gold has now gone up to Rs 45,959 per 10 grams. In the previous trading session, gold had closed at Rs 46,313 per 10 grams. Silver also rose by Rs 151 to Rs 69,159 per kg (Silver price today), against the previous closing price of Rs 69,008 per kg. On Wednesday, gold prices fell by Rs 148 to Rs 46,307 per 10 grams at the bullion market in the…
Bangalore: A day after Amazon India said it has deployed nearly 100 Mahindra Treo Zor three-wheelers, e-commerce marketplace Flipkart on Wednesday said it will deploy more than 25,000 electric vehicles in its supply chain by 2030. Flipkart said it has already started piloting and deploying two-wheeler and three-wheeler electric vehicles in multiple locations for delivery across the country, including in Delhi, Bengaluru, Hyderabad, Kolkata, Guwahati and Pune, to name a few. In 2020, Amazon India had announced that its fleet of delivery vehicles will include 10,000 electric vehicles by 2025 in India. Flipkart said its electric fleet will include two-wheeler,…
New Delhi: Reserve Bank of India Governor Shaktikanta Das has said that the central bank is working on a digital currency. Which will be completely different from cryptocurrency. We do not want to be left behind in the era of technological revolution. There is a need to adopt the advantages of blockchain technology. He also said that there are some important concerns regarding cryptocurrency. Earlier, the government also said in Parliament that it would soon bring a bill on cryptocurrency, as the current law is inadequate. In India, there is no such legal currency as cryptocurrency legal tender. Therefore taxation…
New Delhi: After the inflation of petrol and diesel, the burden of LPG has also increased on the common people. Today, on Thursday, February 25, the price of cooking gas LPG increased by Rs 25 per cylinder. This increase is applicable to all categories of cylinders including subsidized and allotted under Ujjwala scheme. This is the third time in February this month when LPG prices have been increased. Earlier, the price of LPG was increased by Rs 25 per cylinder on February 4 and by Rs 50 on February 15. Thus, in February itself, you will have to pay 100…
MUMBAI: The stock market rose for the second consecutive day on Thursday on the strength of buying in oil and gas, metals, energy, etc. groups at the domestic level amid mixed signals of global level. The 30-share sensitive index Sensex of the BSE rose 257.62 points to 51,039.31 points and the National Stock Exchange (NSE) Nifty climbed 115.35 points to 15,097.35 points. Along with the giants, there was buying momentum in the small and medium companies as well, with the BSE midcap rising 1.09 percent to 20,333.80 points and the smallcap ending 1.42 percent up at 20,304.98 points. Shares included…
Maruti Suzuki India has launched an updated version of its premium hatchback Swift. Its showroom price in Delhi has been kept between Rs 5.73 lakh-8.41 lakh. The new Swift is more powerful and consumes less fuel. Also, new safety features have been included in it. The company claims that the fuel efficiency of the manual transmission of the new Swift is 23.2 kmpl, while that of the automatic versions is 23.76 kmpl. Maruti Suzuki India issued a statement saying that the new Swift 2021 has been prepared according to the requirement of the customers. Swift was launched by Maruti Suzuki…
New Delhi: In a major boost for domestic manufacturing of IT hardware ranging from laptops, PCs to servers, the Union Cabinet on Wednesday approved the Production Linked Incentive (PLI) Scheme for IT Hardware, entailing a cost of around Rs 7,350 crore. The scheme proposes production linked incentive to boost domestic manufacturing and attract large investments in the value chain of IT hardware. The target segments under the proposed scheme include laptops, tablets, all-in-one PCs and servers, said an official statement. “The scheme shall, extend an incentive of 4 per cent to 2 per cent/1 per cent on net incremental sales…
New Delhi: Airtel is fast gaining ground in India when it comes to wooing new users while the industry disruptor Jio is losing customers owing to “poor network experience”, a new report has revealed. According to global mobile analytics company Opensignal, data shows that until August 2020, Airtel and Jio had been steadily gaining smartphone users, and in this period, both operators were neck and neck in the net users gained. “From September onwards, when carriers once again decided to hike prices, Airtel continued to gain users until the end of the year. However, that trend on Jio’s network more…