Author: Finance Khabar
New Delhi: In December last year, freight load totalled 118.13 million tonnes compared to 108.84 million tonnes in 2019, the Railways said in a statement. In this period, the Railways earned Rs 11,788.11 crore from freight load, an increase of Rs 757.74 crore or 6.87 per cent compared with earnings of Rs 11,030.37 crore during the corresponding period in 2019. In December last year, the total loading was 118.13 million tonnes, including 50.67 million tonnes of coal, 15.31 million tonnes of iron ore, 6.13 million tonnes of food grains, 5.23 million tonnes of fertilisers, 4.3 million tonnes of mineral oil…
New Delhi: BSNL had floated a 4G tender worth Rs 9,300 crore for procurement of telecom equipment in March but was cancelled later due to multiple reasons, including an allegation from Indian companies that the state-run firm project does not comply with preferential market access norms and is inclined towards foreign companies. The company now plans to float a tender for procuring equipment for 57,000 sites for 4G services but exact details will be shared in the tender document ”To ascertain the eligibility of bidders in the upcoming 4G tender of BSNL keeping in consideration the spirit of the ‘Aatmanirbhar…
New York: CEO Elon Musk set a goal of delivering 500,000 vehicles in 2020 before the coronavirus pandemic hit, and Tesla stuck to that goal even though the virus forced its only U.S. assembly plant to close for several weeks in the spring. In the first nine months of the year, Tesla reported that it delivered just over 318,000 vehicles worldwide, including a record 139,300 in the third quarter. To reach a half million, Tesla would have had to shatter the record and deliver 181,650 vehicles from October through December. Musk sent an email to employees in December urging them…
Mumbai: The SEBI order observed that RIL had entered into a well-planned operation with its agents to corner the open interest in the RPL (Reliance Petroleum) futures and to earn undue profits from the sale of RPL shares in both cash and futures segments and to dump large number of RPL shares in the cash segment during the last ten minutes of trading on the settlement day resulting in a fall in the settlement price. The case pertains to 2007. It also observed that Mukesh Ambani being the Chairman & Managing Director of RIL, was responsible for its day-to-day affairs…
Exports from the country declined for the third consecutive month in December 2020. Last year, in December 2020, exports fell 0.8 per cent to Rs 1.97 lakh crore (US $ 2689 crore). According to government data, the decline in exports was due to a decline in the sectors of petroleum, leather and marine products. Trade deficit also increased by 25.78 per cent to Rs 1.15 lakh crore ($ 1571 million) due to increased imports in December. According to the data released by the Commerce Ministry, in December 2020, imports increased by 7.6 percent to 3.12 lakh crore rupees ($ 4260…
New Delhi: In the year-ago period, FDI equity inflows stood at $29.31 billion, as per the data of the Department for Promotion of Industry and Internal Trade (DPIIT). During the first seven months of the current fiscal, total FDI (including re-invested earnings) increased 11 per cent to $46.82 billion from $42.06 billion in April-October 2019, it said. “FDI equity inflow increased by 21 per cent to $35.33 billion (April 2020 to October 2020) from $29.31 billion reported in the same period of previous financial year,” the department said in a statement while listing out its highlights during 2020. Sectors which…
New Delhi: The last month of the year 2020 gave news of relief for car companies. Car sales figures in December 2020 suggest that companies are slowly gaining momentum. During December, the country’s largest carmaker Maruti Suzuki India (MSI) reported a 20.2 percent increase in sales in December. At the same time, MG Motor sales grew by 33 percent and Toyota’s sales by 14 percent. According to the auto sales data released by the companies on Friday, Maruti Suzuki India sales rose 20.2 percent to 1,60,226 in December. The company said in a statement that the company had sold 1,33,296…
New Delhi: Flights between India and Britain will resume from 8 January 2021. The Union Minister of Civil Aviation said that this decision has been taken. He said that till January 23, operations would be limited to 15 flights per week. This limit is for the airlines of both countries and flights will operate only from Delhi, Mumbai, Bangalore and Hyderabad. India has banned passenger flights between the two countries to prevent it from spreading to India after a new type of covid 19 was revealed in Britain. This ban was imposed from 23 December to 31 December. Earlier on…
New Delhi: The record GST collection so far in December. The GST collection crossed a record high of 1.15 lakh crore in this month. It shows the festive season demand and the improving economy. The Finance Ministry said in a statement that the total accumulated GST revenue in the month of December 2020 is Rs 1,15,174 and is the highest since the Goods and Services Tax came into force on 1 July 2017. The Finance Ministry said in a statement that this is the highest growth in monthly revenue for the last 21 months. This is due to the rapid…
2021 is welcomed in the stock market in a good mood. During the trading on Friday, the Bombay Stock Exchange (BSE) Sensitive Index Sensex set a new record of 47978. The National Stock Exchange (NSE) Nifty also touched the 14050 level. At the end of the trade, the Sensex gained 118 points to close at 47,868.98. At the same time, the Nifty closed at 14,018.50 with a gain of 37 points over 14 thousand for the first time. ITC and TCS were the biggest gainers in the Sensex by over 2 per cent. The market also started on a positive…
On the last day of the year, the stock market set a new record. In today’s trade, the Nifty crossed 14000 for the first time. At the same time, the Sensex also crossed the 47850 level. The stock market started in the realm, but later the buying increased. There was flat closing at the end of the business. In today’s business, the market gained support in fast pharma and realty shares. While the bank shares increased the pressure on the market. At the end of trading, the Sensex ended with a gain of 5 points at 47,751. At the same…
Mumbai: Simultaneous purchase and sale of G-sec under OMOs, popularly known as Operation Twist, involves purchasing the securities of longer maturities and selling an equal value of securities of shorter maturities. On January 7, the RBI will purchase three government securities (G-Sec) of different maturity dates aggregating to Rs 10,000 crore and sell two securities aggregating to the same amount using the multiple price auction method. The RBI further said it reserves the right to decide on the quantum of purchase/sale of the securities. The result of the auctions will be announced on the same day.
New Delhi: The Index of Eight Core Industries’ reading in November showed a contraction greater than that of (-) 0.9 per cent registered in October. Though not comparable, on a YoY basis, the growth rate stood at 0.7 per cent in November 2019. ECI index comprises of 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). Besides, the Ministry of Commerce & Industry in a statement revised the ECI index production rate in August to (-) 6.9 per cent.
New Delhi: A large number of members of the Employees Provident Fund Organisation (EPFO) would be able to see their updated EPF accounts with credit of 8.5 per cent rate of interest for 2019-20, a senior official told media. The official further informed that the labour ministry has already sent the direction to credit the 8.5 per cent interest on EPF for 2019-20 to the EPFO and the body has already started crediting interest into members account for the last fiscal. Labour Minster Santosh Gangwar said, “We had said that it would be our endeavour to provide 8.5 per cent…
New Delhi: In a letter to Punjab Chief Secretary, Vini Mahajan, Rajinder Gupta, Chairman, Trident Group and Chairman FICCI Regional Advisory Council said that out of the 9,000 mobile towers of Reliance Jio, power supply to 1,800 towers have been cut off by the farmers’ groups protesting against the farm laws of the central government. Jio has 14 million subscribers in the state and with 1,800 towers vandalised, the load will shift to the remaining towers in the vicinity thereby affecting the quality of calls and internet speed in the region. Gupta said the impact will also be felt on…
Mumbai: The country’s current account surplus decreased to $ 15.5 billion in the July-September quarter of the current financial year. It is 2.4 percent of gross domestic product (GDP). The Reserve Bank of India said on Wednesday that in the previous quarter April-June it was $ 19.2 billion, which was 3.8 percent of GDP. In the second quarter of the previous fiscal year 2019-20, the current account deficit was $ 7.6 billion. It was 1.1 percent of GDP. According to RBI data, the current account surplus stood at 3.1 per cent of GDP in the first half of the current…
New Delhi: In a letter to RBI Governor Shaktikanta Das, DHFL administrator R. Subramaniakumar and the Committee of Creditors (CoC), the erstwhile promoter of the bankrupt NBFC said that he would make an upfront payment of Rs 9,000 crore in cash and Rs 31,000 crore will be paid within a period of seven years in equal annual instalments with 8.5 per cent per annum interest. As per the revised proposal, Rs 12,000 crore will be repaid within a period of seven years in equal annual instalments, following a one-year moratorium with 11 per cent interest after two years of interest…
New Delhi: The government has once again relieved the income tax payers. The government has again pushed forward the deadline for filing income tax returns. Now individual taxpayers will have time till 10 January 2021 to file income tax returns for the financial year 2019-20 (assessment year 2020-21). To give relief to small and middle class taxpayers, the deadline for payment of self assessment tax has also been pushed forward once again. The Finance Ministry issued a notification stating that in view of the circumstances arising out of Covid 19, the government has extended the deadline of various compliance. For…
MUMBAI: The domestic stock market has managed to close for a third consecutive day on record day on the back of positive buying from overseas along with positive buying by foreign investors. The stock has gained for the sixth consecutive day. BSE’s 30-share sensitive index Sensex rose by 133.14 points to a record level of 47746.22 so far. The National Stock Exchange (NSE) Nifty climbed 49.35 points to 13981.95 points. During this period, buying in small and medium companies was also strong, due to which the BSE midcap rose 0.53 percent to 17904.85 points and the smallcap rose 0.37 points…
New Delhi: Bank of Baroda, the country’s third largest state-run bank, has launched its own digital lending platform. Through this, retail customers will get loans online through paperless process according to the place and time of their choice. Now banks will not have to go round to take loans for home or car and banks will not have to go round. With this facility of Bank of Baroda, a retail loan will be available in a few minutes and the application for home loan, car loan or personal loan will be approved in half an hour. Executive Director of Bank…