Author: Finance Khabar
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…
New Delhi: Tata Power on Thursday posted over 22 per cent rise in consolidated net profit at Rs 318.41 crore for December quarter 2020-21, mainly on the back of higher revenues. The net profit in the year-ago period was Rs 260.10 crore, Tata Power said in a BSE filing. Total income rose to Rs 7,702.84 crore in the quarter from Rs 7,136.04 crore in the same period a year ago. “We are pleased to inform that all our businesses and subsidiaries have reported a robust performance this quarter despite facing pandemic related challenges,” Praveer Sinha, CEO & Managing Director, Tata…
New Delhi: As much as Rs 62,500 crore has accumulated as provident fund of some 1.23 lakh high net-worth individuals (HNIs) in the retirement fund corpus for 2018-19, with a staggering Rs 103 crore accumulating in the account of the highest contributor, sources said on Thursday. The Budget 2021-22 has removed the tax exemption status to interest accrued on investments in employees provident fund (EPF) exceeding Rs 2.50 lakh per annum. The sources in the revenue department said there are a total 4.5 crore contributors in the Employees” Provident Fund Organisation (EPFO) account. Out of these, more than 1.23 lakh…
Mumbai: Despite high volatility, the BSE Sensex on Thursday finished at a new peak at 50,614.29 surging by 358.54 pts following gains in SBI, ONGC, M & M and Bajaj finance stocks. The Nifty too gained by 105.70 pts to 14,895..65. The equity market remained on top on consistent FII buying, and anticipating status-quo in the Reserve Bank of India’s February monetary policy, due on Friday, kept optimism intact in the markets. Investor wealth reached new pinnacle today as market capitalisation of all the firms listed on the BSE hit Rs 200-trillion milestone. The day ended with an aggregate m-cap…
Analysis according to one’s own idea but definitely more is to be done for economic health of the nation Ubaidullah Nasir Union Finance Minister Ms. Nirmala Sitaraman has presented what is said and praised to be a paperless budget but opposition and critics of this government are terming it as a directionless and worthless budget. Though the finance minister has tried to put lives on livelihood. She according to her budget speech allocated greater amount to health care which was necessary. It gives greater fiscal push to undergird to struggling demand in the pandemic hit economy . But analysed deeply…
Mumbai: Sebi on Wednesday said that it has banned Kishore Biyani and some other promoters of Future Retail Ltd from the security market for a year. He has told that he has done this to join Insider Trading in the shares of the company. Kishore Biyani, who is the CMD and promoter of Future Retail Limited (FRL), the others facing a ban are Future Corporate Resources Pvt Ltd, Anil Biyani and FCRL Employee Welfare Trust. Apart from this, the regulator has imposed a fine of Rs 1 crore each on Kishore Biyani, Anil Biyani and Future Corporate Resources. With this,…
Mumbai: The equity market kept its supremacy for the third straight session on Wednesday, as the BSE Sensex ended an all-time high at 50,255.75, advancing 458.03 pts on the back of growth-driven Budget and positive global cues. The Nifty too gained by 142.10 pts to 14,789.95. The Sensex opened higher at 50,231.06, up 434 pts. During the day, it jumped to 50,526.39, up by 729 pts, days high before closing at 50,255.75, spurting by 458.03 pts from its previous close. The Sensex registered days high and low at 50,526.39 and 49,515.88 pts respectively. The Nifty recorded days high and low…
Calicut, Wednesday, February 3, 2021: Neuberg Diagnostics, one of the fastest growing lab chains, paid tribute to frontline workers who had put their lives on the line to help others during the COVID-19 pandemic. At an event arranged in the city, the company, in the presence of the chief guest, Honorable Minister for Transport, A K Saseendran, acknowledged their fight against COVID-19 by presenting mementos and COVID-protection kits to frontline workers from various healthcare, police, education and other government departments. Mr. Saseendran said, “My sincere thanks to all frontline workers who are protecting us and putting their lives in danger…
Mumbai: The Reserve Bank of India (RBI) has appointed an external professional IT firm to carry out a special audit of the entire IT infrastructure of HDFC Bank. The development follows recent outage in the bank’s internet banking and payment system on November 21, 2020 due to a power failure in the primary data centre. “RBI has appointed an external professional IT firm for carrying out a special audit of the entire IT infrastructure of the Bank under Section 30 (1-B) of the Banking Regulation Act, 1949 (the Act), at the cost of the Bank under Section 30 (1-C) of…
New Delhi:The Finance Ministry has accepted the 15th Finance Commission’s recommendation to share 41 per cent of the net proceeds of Union taxes with the states against the current 42 per cent, among other recommendations. The commission was of the view that financial resources equivalent to 1 per cent of the net proceeds of Union taxes should be retained with the Centre for financing the requirements of the newly-formed Union Territories of Jammu & Kashmir and Ladakh. Similar, sharing of revenues were earlier also proposed by year 2020-21 for which the commission presented a report to the President in December…