Author: Finance Khabar

New Delhi: The Standing Committee on Information Technology pulled up the Department of Telecommunications (DoT) for delay in the launch of 5G services when several countries have commercially rolled out the next-generation technology. The telecom ministry has already announced the auction of spectrum worth Rs 3.92 lakh crore from March 1, but it does not include the desired frequency band for 5G services. The committee has been informed that by the end of the calendar year 2021 or beginning of 2022, there will be some roll-out in India in some specific uses, because 4G should continue in India for at…

Mumbai: Maintaing gaining streak for the sixth straight session on Monday, the BSE sensex edged up by 617 pts to 51,348.77, a historic high on the strength of Auto, Bankex, Technology and Industrials stocks amid strong global cues. The Nifty too gained by 191.56 pts to 15,115.80. In early trade, the Sensex went up by 415 pts. During the day it zoomed up nearly 792 pts to 51,523.38 days high before closing at 51,348.77, advancing by 617.14 pts from its previous close. The sensex registered days high and low at 51,523.38 and 51,146.67 pts respectively. The Nifty recorded days high…

New Delhi: Besides, undisclosed income of more than Rs 8,460 crore has been brought to tax and penalty of over Rs 1,290 crore levied so far for deposits made in unreported foreign bank accounts in HSBC cases, he said in a written reply to the Lok Sabha. In the Panama Paper leaks probe, undisclosed foreign investments amounting to over Rs 1,700 crore have been detected so far, while sustained investigations conducted in the cases revealed by International Consortium of Investigative Journalists (ICIJ) have led to detection of more than Rs 11,010 crore of credits in the undisclosed foreign accounts. “As…

New Delhi: The new business premium of life insurance companies grew 3.72 per cent at Rs 21,389.70 crore in January 2021, data from Irdai showed on Monday. All the 24 life insurance companies had collected s total first-year or new business premium of Rs 20,623.01 crore in year-ago same period, January 2020. Of these, the country’ largest life insurer LIC registered a fall of 2.43 per cent in new business premium during the month to Rs 13,143.64 crore as against Rs 13,470.91 crore in the year-ago month, according to the Insurance Regulatory and Development Authority of India (Irdai) data. The…

New Delhi: Finance Minister Nirmala Sitharaman in the Budget unveiled the Disinvestment/Strategic Disinvestment Policy, which had four strategic sectors in which bare minimum number of CPSEs will be retained and the rest would be privatised or merged or made subsidiary of another CPSE or closed down. Certain classes of public sector entities, like major port trusts, Airport Authority of India, those undertaking security printing and minting, will not fall within the purview of the new PSE policy for strategic disinvestment. The new Public Sector Enterprise (PSE) policy for Aatmanirbhar Bharat, which classifies public sector commercial enterprises as strategic and non-strategic…

Mumbai: Adani Group’s flagship holding company Adani Airport Holdings Ltd (AAHL) has acquired 23.5 per cent stake in the Mumbai International Airport Ltd (MIAL) from ACSA Global Ltd (ACSA) and Bid Services Division (Mauritius) Ltd (Bidvest) for Rs 1,685.25 crore. In a regulatory filing, Adani Enterprises said that AAHL has acquired 28.20 crore equity shares of MIAL. AAHL is also a wholly owned subsidiary of Adani Enterprises. “Adani Airport Holdings Ltd has acquired 23.5 per cent equity stake i.e. 28,20,00,000 equity shares of Rs 10 of Mumbai International Airport Ltd from ACSA Global Ltd and Bid Services Division (Mauritius) Ltd,”…

In January 2021, Telegram overtook Tiktok as the most downloaded non-gaming app. This information has been found in the report of the sensor tower. The messaging platform has been installed over 63 million, which is 3.8 times more downloads as of January 2020. The app has clearly benefited from the new privacy policy of WhatsApp, which created controversy and many users have started exploring options instead of adopting terms and conditions. While Telegram was the most downloaded non-gaming app on the Play Store, it has been ranked fourth on Apple’s App Store. On iOS devices, TicketLock is still the most…

The market capitalization (market cap) of the top 10 companies of the Sensex increased collectively by Rs 5,13,532.5 crore last week amid widespread positive market sentiment. During this period, the market capitalization of banks was seen to be the biggest increase. Last week, the 30-share BSE Sensex gained 4,445.86 points or 9.60 per cent. On Friday, the Sensex has also crossed the 51,000 mark for some time. Among the Sensex companies, HDFC Bank’s market capitalization rose the most by Rs 1,13,516.92 crore to Rs 8,79,735.51 crore. The market valuation of State Bank of India increased by Rs 99,063.86 crore to…

New Delhi: By far the biggest reform in the power sector is going to happen through electricity distribution reform. The consumer will now be king. Apart from this, with the merger of some companies in the power sector in the next financial year, the government can also sell stake. Energy Minister RK Singh says that there is going to be a reform in the electricity distribution sector. Existing companies will continue to do their work. The path will be opened for new companies to enter the sector. Companies no longer need to get licenses. Any company can sell electricity by…

New Delhi: Government engineering company Bharat Heavy Electricals Limited has incurred huge losses in the third quarter of FY 2021-22. BHEL reported a net loss of Rs 217 crore in the December quarter. Whereas, the company had a net profit of Rs 162.7 crore in the December quarter of 2019-20. The company’s revenue declined 21.6% in Q3 this year. BHEL’s total revenue fell to Rs 4,451.4 crore in the December quarter from Rs 5,680.8 crore in the year-ago period. BHEL’s total income fell to Rs 4,532.39 crore in Q3 as against Rs 5,827.74 crore in the year-ago period. Along with…

New Delhi: The closing price of gold was Rs 48844 per 10 grams in Delhi Bullion Market last Friday, while on Friday this week it was Rs 46738. Thus, it fell by Rs 2106 for the entire week. The decline began on Monday with budget announcements and continued until Friday. Gold could not recover for the entire week due to the decision to cut customs duty. On the budget day, it fell sharply by Rs 1324 per 10 grams on Monday and closed down by Rs 163 on Friday. Gold futures prices also fell this week. February delivery gold on…

About two years ago in 2019, Dena Bank and Vijaya Bank were merged into Bank of Baroda (BOB). After this decision, customers of Dena Bank and Vijaya Bank joined BOB. Now BoB has made another important change, under which the customers of Vijaya Bank and Dena Bank will have to use the new IFSC from 1 March. Giving information about this, the BoB said that the IFSC of Dena Bank and Vijaya Bank will be closed from 28 February. In such a situation, if your account is in both these banks, then get it changed as soon as possible because…

Mumbai: The Sensex surged 4,445.86 points or 9.61 per cent to settle at 50,731.63 in week under review after FM Nirmala Sitharaman presented a growth-oriented Budget on Monday, amid positive cues from global peers. On Friday, the Reserve Bank kept interest rates unchanged but continued its accommodative stance and announced fresh liquidity measures to revive growth also lifted investor sentiment The Nifty 50 index soared 1,289.65 points or 9.46 pc to settle at 14,924.25. The Sensex hit record high of 51,073.27 while the Nifty hit record high of 15,014.65 on Friday, 5 February 2021. The BSE Mid-Cap index jumped 1,330.94…

Now retail investors can directly deal in government bonds through RBI. Common investors can transact in both primary and secondary markets through the Reserve Bank of India. Reserve Bank Governor Shaktikanta Das has issued this information while issuing the Monetary Policy Review on Friday 5 February. He said that now anyone can open an account with the RBI to make transactions in government bonds. With this decision, India has now been included in the list of countries where common investors deal in government bonds. This is a major structural change. If seen, investors still deal in government securities. But now…

Since the presentation of the budget, the brightness of gold is continuously fading. Today, on February 5, gold fell by Rs 163 per ten grams in the Delhi bullion market for the fifth consecutive day. Gold prices fell due to the strength of the rupee. After this decline, the price of gold in the capital Delhi dropped to Rs 46,738 per ten grams. This information was given by Tapan Patel, Senior Analyst (Commodities), HDFC Securities. Gold closed at Rs 46901 per ten gram in Delhi bullion market a business day ago. Gold fell on Friday, February 5 in the Delhi…

Mumbai: A good rally has been witnessed in the stock market on the day of the announcement of the RBI Monetary Policy decision. On February 5, both the Sensex and Nifty indices have set a new record. While the Sensex crossed the 51000 mark for the first time, the Nifty has also broken the barrier of 15000. Today the Sensex has set a new record of 51073. Currently, the Sensex has gained 117 points at the end of trading and has closed at the level of 50732. At the same time, the Nifty has also closed at 14924 levels, rising…

Lucknow: Women & Child Security Organisation (WCSO) today organised ‘Vaicharik Samagam’ in association with ‘UNICEF’ at Lucknow. The objective of this program is to do brainstorm from different sections and areas of the society, so that people coming from different areas are effective in exposing various kinds of questions related to women and children’s safety in Uttar Pradesh. The panelist who participated in this program were NGOs, various educations, medical sector, corporate world house, writers, social media and social sector etc. On the occasion Ms Neera Rawat, ADG, WCSO (Women & Child Security Organisation), said, “Our aim is to provide…

434 of the Foundation’s Student ‘Health Monitors’ from Mumbai, Kolkata, Bengaluru and Jaipur raise their voice for a healthier, brighter future. Mumbai, 4th February, 2021: On the occasion of World Cancer Day, 20,000 student beneficiaries of Salaam Bombay Foundation’s (SBF) Preventive Health Programme participated in the Foundation’s 15th Student Health Assembly. The Assembly created on the lines of the Model United Nations (MUN) in private schools, was held virtually and on a national scale for the first time. A unique platform, the Assembly provided student leaders from SBF’s advocacy and leadership forums (Bal Parishad and Bal Panchayat) the opportunity to…

New Delhi: Finance Minister Nirmala Sitharaman on Thursday expressed confidence that the disinvestment program announced in next year’s budget will go ahead well and non-tax revenue will improve. Addressing members of the industry body FICCI, he said that a large amount will be spent in large areas like infrastructure, health and agriculture. In the budget of 2021-22, a target of raising 1.75 lakh crore has been set through disinvestment. In the next financial year, the government has included BPCL, Air India, Shipping Corporation, Container Corporation of India, IDBI Bank, BEML, Pawan Hans and Nilanchal Ispat Nigam Limited. Aims to complete…

New Delhi: Bharti Airtel is keen on a full footprint of sub-GHz radiowaves across the country to boost coverage indoors and in rural areas, as it pursues an optimised spectrum strategy that balances renewal and capacity needs, CEO Gopal Vittal said on Thursday. Speaking at an investor call after announcement of a strong set of Q3 numbers by Bharti Airtel, Vittal said the company has always been of the view that device subsidy game per se is value destructive, especially at the lower end of the market. To deal with strategies around device subsidy on smartphones by rivals, the company…