Author: Finance Khabar

Mumbai: Global markets gained momentum in anticipation of new relief measures from the new government in the US. Meanwhile, on Wednesday, the domestic stock market reached a new record high, as shares of information technology, energy and auto companies strengthened. The 30-share BSE Sensex closed up at a new record level of 49,792.12 points, up 393.83 points or 0.80 percent. Similarly, the NSE Nifty jumped 123.55 points or 0.85 percent to reach a high of 14,644.70 points. America’s designated finance minister, Janet Yellen, called for a huge impetus to protect the American economy. After this, shares of the world rose…

Auto component manufacturer Hero Motors Company (HMC) on Monday announced that it has acquired a strategic stake in UK’s transmission design technology leader Hewland Engineering Ltd. Hero Motors, however, has not disclosed the transaction amount involved in the acquisition. “The acquisition will enable Hero Motors to create a competitive single source entity to design and manufacture high quality transmission products, particularly in the emerging EV segment, to OEMs across North America, Europe and India,” it said. It will also enable Hewland to further strengthen its product and service portfolio, particularly in the area of transmissions for electrified passenger cars, and…

G7CR Technologies India Pvt Ltd, India’s leading Cloud Service provider, today announced that it has become a GitHub Advanced Channel Partner, giving its clients access to GitHub Enterprise platform. Recent research shows 52% of organizations think people and skills issues are the biggest obstacle to adopting modern software engineering practices in-house. With access to GitHub Enterprise platform, G7 CR Technologies Pvt Ltd. will be helping its clients reduce time to market for business-critical development projects. This is especially critical in today’s challenging environment when organizations are looking to launch new services and business models to help their customers. Enterprise developers…

New Delhi: The RERA Act has helped to restore the lost trust between real estate traders and buyers. Soon we will get to see that only the better performing builders will survive in the market. Rajeev Kumar, Chairman of UP RERA said this in a virtual program of PHD Chamber on Tuesday. Rajiv Kumar said that the real estate sector has the potential to double the country’s growth rate (GDP). Due to RERA law, buyers are now returning back to the market. Which will ultimately benefit the real estate sector. The UP RERA chairman says that low performers will have…

During the Corona epidemic, people have started paying more attention to their health. People are emphasizing on the importance of health. Meanwhile, Axis Bank has announced a new credit card, in which customers will get many health and wellness benefits at an affordable price. The card name is AURA. The bank said in a statement that it has tied up with health check up company IndusHealth Plus and online medical consultation program Practo for this card. Cardholders will get a discount on the annual health checkup through IndusHealth Plus. With Practo, four free online consultations will be available on the…

MUMBAI: The domestic stock market managed to recover from a two-day fall today due to all-round buying amid positive signals from overseas. The 30-share sensitive index Sensex of the BSE reached 49,398.29 points with a jump of 834.02 points, or 1.72 per cent. The National Stock Exchange’s Nifty also gained 239.85 points, or 1.68 percent, to close at 14,521.15. Investors also bought heavily in medium and small companies. The BSE midcap gained 2.31 percent to 18,952.06 points and the smallcap gained 1.66 percent to 18,634.97 points. The emphasis of all-round buying was such that shares of 27 out of 30…

Hyderabad: “I would like to suggest all corporates to consciously encourage whistle-blowing mechanism and provide adequate safeguards for the protection of the whistle- blowers,” he said. Naidu, who was delivering the Convocation address at the Institute of Company Secretaries of India (ICSI), stressed on upholding the principles of transparency, integrity and honesty at all times and reflecting them in every business activity. The modern day company secretary is a true guide of the corporates, protecting the interests of all stakeholders, and more importantly, ensuring adherence to the laws of the land in letter and spirit, he said. “This profession should…

New Delhi: The category reserved for non-institutional investors was subscribed 9 per cent and retail individual investors 1.25 times. The initial public offer is of up to 178.20 crore shares, comprising a fresh issue of up to 118.80 crore shares and an offer for sale of up to 59.40 crore shares. Price range for the offer, which is scheduled to close on Wednesday, has been fixed at Rs 25-26 per share. At the upper end of the price band, the IPO is expected to fetch Rs 4,633 crore. IRFC had on Friday raised a little over Rs 1,398 crore from…

New Delhi: Punjab National Bank is important information for customers. PNB has taken important steps to protect customers from fraud through ATMs. The bank has said that PNB customers will not be able to transact from non-EMV ATMs from next month i.e. from 1 February 2021. This restriction will apply to both financial and non-financial transactions. That is, Punjab National Bank customers will not be able to withdraw cash or go to non-EMV ATMs and do non-financial transactions like balance checks. PNB has tweeted that the bank is taking this step to protect its customers from fraud through ATM such…

Tata Motors is about to launch the new Tata Safari on 26 January. Its production has started at the company’s Pune plant and recently Tata Motors showed its first glimpse. The company held a flag of ceremonies at its Pune plant to introduce the first unit of Safari. At the Auto Expo 2020, Tata Safari was showcased with the Gravitas code name. Tata Safari is a 7 seater version of the Harrier. It is confirmed that the 2021 Tata Safari will get the same engine and transmission as the Harrier. This means that the new Safari will have a 2.0…

New Delhi: Investors have sold out today in the domestic stock market amid weak global cues. The beginning of the market was cautious. After the pressure throughout the day, both the Sensex and the Nifty weakened and closed. At the end of trading, the Sensex has a weakness of 470 points and has closed at the level of 48,564.27. At the same time, the Nifty has closed at the level of 14281 with a weakness of 152 points. In today’s business, there has been a sharp decline in metal and auto stocks. Investors sold heavily in pharma and bank shares.…

New Delhi: Founded by Ashneer Grover and Shashvat Nakrani in 2018, BharatPe offers merchants a single interface for all UPI apps like Paytm, PhonePe, Google Pay, BHIM, Mobikwik, Freecharge and others. It also facilitates loan facility for its merchant partners. Speaking to PTI, BharatPe co-founder and CEO Ashneer Grover said Rs 90 crore in debt came from Alteria Capital, while the remaining Rs 49 crore was from ICICI Bank. ”We have raised funds from ICICI Bank at a competitive interest rate of less than 9 per cent. We are aggressively building our lending vertical and our loan book is currently…

New Delhi: According to CAIT, the GST has become a hurdle in the smooth retail trade because of the complexities and arbitrariness of its provisions. In a statement on Sunday, the traders’ body said that it will convene a three-day conference of trade leaders of all states from February 8-10 at Nagpur to chalk out the future course of action. About 200 prominent trade leaders from across the country are likely to participate. “Post-Covid, the retail trade is fighting hard for its survival and in such a situation, the GST system has become a devil for the business community due…

New Delhi: In the fortnight ended March 27, 2020, bank advances stood at Rs 103.72 lakh crore. Bank deposits rose 8.5 per cent to Rs 147.27 lakh crore in the April-December 2020 period as against an increase of 5.1 per cent a year ago, according to the recent data released by the Reserve Bank of India. The sharp accretion in deposits during the year was due to the safe haven appeal of banks. In the fortnight ended January 1, 2021, the year-on-year growth in bank credit was 6.7 per cent and 11.5 per cent in deposits, the data showed. CARE…

The market capitalization (market cap) of six of the top 10 companies of the Sensex increased by Rs 1,13,018.94 crore last week. Tata Consultancy Services (TCS) and Bharti Airtel were the biggest gainers. The market capitalization of Reliance Industries, HDFC Bank, Infosys and ICICI Bank also increased. On the other hand, the market cap of Hindustan Unilever, HDFC, Kotak Mahindra Bank and Bajaj Finance declined. TCS’s MCAP rose by Rs 42,495.76 crore to Rs 12,13,371.12 crore during the week. Bharti Airtel’s market cap increased by Rs 33,960.84 crore to Rs 3,28,697.33 crore, HDFC Bank increased by Rs 19,001.41 crore to…

New Delhi: Although almost every type of tax collection has come down due to the epidemic, but excise duty collection has increased by 48 percent during the current financial year. The reason for this is the record increase in the excise rate on diesel and petrol. According to data received from the Comptroller and Auditor General (CGA), the collection of excise duty during April-November 2020 increased from Rs 1,32,899 crore in the same period of 2019 to Rs 1,96,342 crore. This increase in excise duty collection occurred during the eight-month period of the current financial year, despite a decrease of…

New Delhi: The Noida-based company, which crossed $10 billion milestone in the calendar year 2020, had 1,59,682 employees at the end of December 31, 2020. It saw a gross addition of 12,422 people, while net addition during the December 2020 quarter was of 6,597 people. Attrition for IT services (on last 12 month basis) was at 10.2 per cent. “There was a net hiring of over 6,500 people in Q3 (third quarter). There is a big demand pipeline and so, we are continuing to hire both freshers and lateral talent to fulfil the demand,” HCL Technologies President-CEO C Vijayakumar said.…

Mumbai: The industry body stockbrokers Association of National Exchanges Member of India (ANMI) has written to Central Bank Direct Taxation (CBDT) on doing away with the multiple classification system for calculating tax on capital market income. In a statement, ANMI noted that financial markets worldwide play an important role in garnering growth capital for the economy. In the years following the coronavirus pandemic, catalysing equity market participation will hold the key to reviving India’s GDP growth, it added. ANMI has urged the government to incentivise and encourage equity market investments by streamlining the tax structure applicable for market transactions in…

San Francisco: According to a report in The Wall Street Journal, the lawsuit filed in a federal district court in New York alleged that Amazon struck a deal with five major book publishers that led to higher e-book prices for all consumers. It prevented “rival retailers from selling any of these publishers’ e-books at a lower price than on Amazon,” the report said on Friday. Calling it a “conspiracy to fix the retail price of e-books,” the lawsuit alleged that the deal violates antitrust law. “In a competitive market, the Big Five could sell e-books at a lower price on…

New Delhi: At the standalone level, the net profit for the three-month period grew 18.09 per cent to Rs 8,758.29 crore. Its total income increased to Rs 37,522 crore on a standalone basis compared to Rs 36,039 crore in the year-ago period. The results, the first earnings to be declared by the bank under new chief executive and managing director Sashidhar Jagdishan, displayed an improvement in the asset quality. The gross non-performing assets (NPA) ratio stood at 0.81 per cent of the total assets as against 1.42 per cent in the year-ago period and 1.08 per cent at the end…