Author: Finance Khabar
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…
New Delhi: CAG is doing performance audit on recapitalisation of PSBs after 2016-17 and it has written a letter to the Department of Financial Services, Ministry of Finance, seeking various information, including rationale for distribution of capital among different PSBs, sources said. The Government of India made capital infusion to the tune of Rs 90,000 crore in 2017-18. This rose to Rs 1.06 lakh crore in the following year. During the last financial year, the capital infusion through bonds was Rs 70,000 crore. For the current fiscal, the government has earmarked Rs 20,000 crore for the capital infusion into the…
New Delhi: The company is hoping that there is no change in the tax structure in the upcoming Budget to let the segment come back to normal growth trajectory and it believes that any increase would ”hit the segment very negatively”. ”What we are seeing in our business is that in the last few months we are gradually coming back to pre-COVID-19 times in terms of new order intake and throughputs in the workshop…We anticipate the super luxury car segment will start bouncing back,” Lamborghini India head Sharad Agarwal told media. He further said, ”My anticipation is that in 2021…
New Delhi: Interested merchant bankers and legal advisors will have to be submit their bids by January 28 and January 29, respectively, the Department of Investment and Public Asset Management (DIPAM) said in a notice. The government holds 75 per cent stake in RCFL and intends to disinvest 10 per cent of the paid up equity capital through an offer for sale (OFS). The merchant banker would be required to advise the government on the timing and the modalities of the OFS, esure best return from the government and assist in securing approval and exemptions, wherever necessary, from regulatory agencies.…
New Delhi: The capital expenditure target for the financial year 2020-21 was initially set at Rs 10,000 crore, the CIL official said. The government has instructed the public sector companies to increase their capital expenses to boost the economy which was hit by the COVID-19 pandemic, he said. “With the achievements of our internal goals, the government has raised our capital expenditure target to Rs 13,000 crore. “We have already crossed Rs 8,000 crore till December and will definitely surpass the Rs 10,000-crore mark. We will chase the new goal as this will help revive the economy,” a CIL official…
MUMBAI: The progress in vaccination of the covid-19 pandemic continued in the stock markets in the past week and the Sensex and Nifty have consistently managed to reach new record levels. The continuation of the market is expected to continue in the coming week. The government has started a dry run of covid-19 vaccination. This has given hope to the investors that the economy will be back on track soon. The 30-share BSE Sensitive Index Sensex gained 895.44 points or 1.91 percent to close at 47868.98 points on the weekend amid strong investment sentiment. The National Stock Exchange’s Nifty was…