Author: Finance Khabar

MUMBAI: Domestic stock market today witnessed strong boom amid strong global cues. Today the Sensex and Nifty broke all their previous records in intraday business. The Sensex rose to a level of 48,854.34 in intraday. At the same time, the Nifty also reached the level of 14367. After the weakness of the last 2 days, today investors have shopped fiercely in the market. IT, auto and pharma stocks have seen a sharp rise, due to which the market reached a new high. At the end of trading, the Sensex has gained 689 points and closed at 48,782.51. At the same…

New Delhi: The insurance behemoth has launched a Special Revival Campaign starting from January 7 till March 6 for its customers to revive their lapsed individual policies subject to certain conditions. It has also authorised its 1,526 satellite offices to revive policies where special medical tests are not required. “Under this Special Revival Campaign, policies of specific eligible plans can be revived within five years from the date of the first unpaid premium subject to terms and conditions,” LIC said in a statement. Certain concession in health requirements is also being offered subject to eligibility, it said, adding that most…

Bhubaneswar: Addressing the 41st Foundation Day of Nalco here, the Minister said that the PSU will invest over Rs 7,000 crore for the 5th stream of its Damanjodi refinery, development of Potangi bauxite mines, and exploration and transportation of coal from South, Utkal D and Utkal E blocks. He said that around Rs 23,000 crore will be invested in the expansion of Angul smelter plant with a 1,400-MW captive power plant. “It will help the company to sustain and be competitive. Moreover, aluminium industry is one of the fastest growing sectors among all metals and holds the potential to attract…

New Delhi: The country’s gross domestic product (GDP) is projected to decline by 7.7 percent in FY 2020-21 due to the Covid 19 pandemic affecting the economy. The first advance estimate of national income was released by the National Statistics Office (NSO) on Thursday. It states that GDP will be Rs 134.40 lakh crore in the current financial year. In the financial year 2019-20, this figure was Rs 145.66 lakh crore. In this way, the GDP will fall by 7.7 percent this year. GDP grew by 4.2 percent in FY 2019-20. In eight major economic sectors, only agriculture and electricity,…

New Delhi: The State Bank of India (SBI) has raised $ 600 million (Rs 4,391 crore) from the Regulation S bond through its London branch at a 1.8% coupon rate. The bond has been benchmarked against the 5-year Treasury bond and its price has been set at a spread of 1.40 per cent. The bond will be listed on SGX-ST (Singapore Exchange – Security Trading) and India INX (India International Exchange). SBI has made a comeback in the international public bond markets after almost two years through it. This is the first public USD bond issue by an Indian scheduled…

Mumbai: The BSE 30-share sensitive index Sensex slipped 80.74 points to 48,093.32 points on Thursday and the National Stock Exchange’s Nifty slipped 8.90 points to 14,137.35 points amid strong selling pressure from FMCG and IT sector companies amid strong cues from most Asian markets. The Sensex opened at 48,524.36 points today on the basis of strong signals from foreign markets. During the trading, it reached the day’s high of 48,558.34 points due to buying by metal and telecom companies. It slipped to a day’s low of 48,037.87 points due to continued selling in FMCG and IT companies. In the end,…

The Toyota Fortuner facelift has been launched in India. Now this SUV will be available in two trims Standard and Legend. The Fortuner Legender variants will only be called the Legender. The 2021 Toyota Fortuner costs about Rs 1 lakh more than its old version. The price of the new Toyota Fortuner will start from Rs. 29.98 lakhs. The 2021 Toyota Fortuner is offered in both manual and automatic transmissions. However, only the automatic transmission will be available in the Legender trim. The Fortuner facelift has a 2.7 liter petrol and 2.8 liter diesel engine. The petrol engine produces 164…

Mumbai: It can be noted that the high inflation driven by the food prices has forced the RBI to go for a status quo in rates for the three consecutive reviews of the bi-monthly policy meetings, even as growth continues to be in the negative territory. The RBI expects the GDP to contract by 7.5 per cent for FY21. The bank report said over a six month period, food inflation is likely to ease, but non-food may be sticky on account of rigidity in domestic fuel taxation, marginal hikes in manufacturing costs after months of the shutdown, commodity price rises,…

New Delhi: Now you can get a personal loan on Paytm in just two minutes. The company has introduced the facility of instant personal loan for people on its platform. The service will be available 24X7 throughout the year, including holidays and weekends. It will take less than two minutes to get a loan. It takes 18 to 36 months to pay the loan and EMI is assessed accordingly. Eligible customers can avail this service through the ‘Personal Loans’ tab under the Financial Services option and can manage their loan account directly through the Paytm app. The company has tied…

New Delhi: Domestic equity benchmarks, Sensex and Nifty broke their 10-day winning streak as the two ended half per cent down on Wednesday, dragged by losses in Reliance Industries, ITC and Infosys. After hitting its record intra-day high of 48,616.66 in early trade, the S&P BSE Sensex pared all gains to end 263.72 points or 0.54 per cent lower at 48,174.06. Similarly, the broader NSE Nifty fell 53.25 points or 0.38 per cent to 14,146.25. It touched a record peak of 14,244.15 during the day. The losers on the Sensex pack were led by ITC, drowning around 3 per cent,…

New Delhi: Housing Development Finance Corporation (HDFC) on Monday reported a healthy rise of 26 per cent in the individual loan category during the third quarter of FY21. “The individual loan business continued to see improvements during the quarter ended December 31, 2020. Disbursement growth over the corresponding quarter of the previous year was 26 per cent. Individual loans sold in the preceding 12 months amounted to Rs 16,956 crore, HDFC Ltd said in a regulatory filing. For the nine months ended December 31, 2020, individual loan disbursements stood at 86 per cent of the levels in the corresponding period…

New Delhi: In the third quarter (October-December) of the current financial year 2020-21, mutual funds asset base has increased by 7.6 percent. After this increase due to the boom in the equity market, the mutual fund asset base increased to 29.71 lakh crore. According to the Association of Mutual Funds in India (AMFI), the average asset under management (AAUM) of the mutual fund industry in the second quarter July-September was Rs 27.6 lakh crore. According to Gopal Kavalireddy, research head of FYERS, the stock market has performed well in the last three months. The Nifty 50 was up 3.15 percent…

New Delhi: Fiat Chrysler Automobiles NV (FCA) said on Tuesday it will invest $250 million to grow its presence in India with the launch of four new sport-utility vehicles (SUVs) under its Jeep brand over the next two years. The investment will be made to locally manufacture a mid-size, three-row SUV, assemble the Jeep Wrangler and Jeep Cherokee vehicles in the country and launch a new version of its Jeep Compass SUV, FCA said in a statement. FCA currently has less than a 1% share of India’s passenger vehicle market. Adding new vehicles to its portfolio is expected to help…

New Delhi: The ratings agency said the outlook on the construction sector in FY22 is stable and credit profile of players are likely to recover after weakening in FY21. Besides, ICRA pointed out that investments planned under the National Infrastructure Pipeline will be key growth drivers for the sector. “While the pandemic-related uncertainties continue to remain, execution has recovered sharply in the last few months. “ICRA expects the pace of execution to improve over the medium term, supported by adequate orders in hand as well as the recent measures taken by the government,” it said. As per the ratings agency,…

Mumbai: The rally in the domestic stock markets continued for the 10th consecutive day today and the BSE 30-share Sensex Sensex gained 260.98 points, or 0.54 percent, to 48,437.78 points and the National Stock Exchange’s Nifty gained 66.60 points, or 0.47 percent. 14,199.50 points closed at a new record level. There was pressure of profit booking in the early trade in the big companies, but later the market rebounded and came into the lead. Banking and financial sector companies as well as companies like TCS, Hindustan Unilever and Infosys contributed the most to market strength. Investors showed more confidence in…

NewDelhi: Social e-commerce venture of farm-to-fork agritech startup, Otipy, on Monday announced it is planning to raise $10 million this year to expand its presence in the country. According to a statement from the startup, it aims to empower more resellers and further build its business across India. The company is in active discussions to raise $10 million in 2021. Otipy has already raised $ 2 million in 2020 from Inflection Point (IP) Ventures and the Smile Group. Otipy Founder Varun Khurana said, “We have a history and deep understanding of fresh produce that we have leveraged to build a…

NewDelhi: Fitch Solutions on Monday said it has revised its forecast for the Indian rupee to average stronger at Rs 75.50 to a US dollar in 2021, from Rs 77/USD. For 2022, it revised the forecast to Rs 77 to a US dollar, from Rs 79 previously, to account for a stronger 2021 forecast. “We expect the rupee to trade only slightly weaker over the near term from current levels,” it said in a note. It saw depreciatory pressure on the rupee due to worsening terms of trade from rising oil prices, further monetary easing, and bouts of risk-off sentiment…

NewDelhi: State-run Bank of Baroda on Monday announced the launch of banking services on WhatsApp. The services offered by the bank via WhatsApp will be balance inquiry, mini statement, cheque status enquiry, cheque book request, blocking of debit card, information on Bank’s product and services, register/apply for digital products etc, a release said. This initiative strengthens the Bank’s digital presence by providing ease to its customers from the comfort of their homes. “With the growing prominence of social media, we believe that WhatsApp banking will offer immense convenience to our customers to meet their banking requirements,” the bank’s executive director…

Mumbai: Hyundai Motor India Ltd (HMIL) on Monday said it has started exports of its all-new i20 premium hatchback as it seeks to strengthen its commitment to ‘Aatmanirbhar Bharat’. The first batch of 180 cars of the new i20 will be shipped to South Africa, Chile, and Peru, the company said in a statement. Last year in November the company had launched the fourth generation of the i20 model in India priced between Rs 6.79 lakh and Rs 11.17 lakh (ex-showroom). First launched in 2007, the i20 has been popular in the global markets and HMIL exported a total of…

MUMBAI: The domestic stock markets remained firm for the ninth consecutive day on Monday amid positive signals from overseas and the 30-share BSE Sensitive Index Sensex crossed the 48,000 mark for the first time. The Sensex closed up 307.82 points, or 0.64 per cent, at 48,176.80 points amid all-round buying. The National Stock Exchange’s Nifty also closed at a new record level of 14,132.90 points with a gain of 114.40 points, or 0.82 percent. The stock market has been witnessing a steady rise since December 21. During the nine trading days during this period, the Sensex has gained 2,622.84 points…