Author: Finance Khabar
New Delhi: Shipping 21 million units, India’s smartphone market registered 42 per cent year-over-year (YoY) growth in October driven by multiple online sale festivals and continuing pent up demand from the third quarter of the year, industry tracker International Data Corporation (IDC) said on Thursday. This is the highest ever October shipments and the second highest for a month, following 23 million units in September 2020, an all-time high for a single month, said the report. The top five brands – Xiaomi, Samsung, Vivo, Realme and OPPO – together grabbed nearly 90 per cent of the India smartphone market share…
New Delhi: Domestic rating agency ICRA Ratings predicts that the technical slowdown in the country’s economy will end in the fourth quarter of the current financial year 2020-21. The ICRA has projected a 7.8 percent fall in gross domestic product (GDP) in the current financial year. In the second quarter (July-September) of the current financial year, the Indian economy has fallen by 7.5 percent. Gross domestic product (GDP) declined by 23.9 percent in the first April-June quarter. The rating agency said that the Indian economy would decline by one per cent in the third October-December quarter of the current financial…
Mumbai: The equity market remained robust for the fourth consecutive session, as the BSE Sensex on Thursday closed at historic high at 46,890.34, up by 223.88 pts following gains in Finance, Capital Goods, Realty and Bankex stocks. The Nifty of national stock exchange too rose by 58 pts at 13,740.70. The sensex moved up by 108 pts to open at 46,774.32. It spurted by 326 pts to 46,992.57 days high, before closing at 46,890.34, advancing by 223.88 pts from its previous close. The sectoral indices that kept the market firm were Finance, Capital Goods, Realty and Bankex However selling in…
New Delhi: The State Bank of India in its latest research report raised India’s growth projection to (-)7.4 per cent for FY21 from previously expected (-) 10.9 per cent. The report said the revised GDP estimates are based on SBI ‘Nowcasting Model’ with 41 high frequency indicators associated with industry activity, service activity, and global economy. The report also believes that it would take seven quarters from the fourth quarter of FY21 for GDP to reach the pre-pandemic level in nominal terms. “We now expect GDP decline for the full year (FY21) to be in single digits at 7.4 per…
The National Payments Corporation of India (NPCI) has added a contactless offline transaction feature to the Rupay Card. With this, RuPay card holders will be able to make contactless offline payments at Point of Sales (PoS) machines even in areas with limited internet availability. Along with this, wallet facility has also been offered for convenient retail transactions. NPCI said in a statement that these additional facilities have improved the transaction experience for the Rupay cardholder. With the RuPay NCMC (National Common Mobility Card) card, customers can store money for fast transactions and make payments on POS machines even when there…
Brussels: Facebook Inc on Tuesday said it hopes new draft rules by the European Union aimed at curbing powers of big U.S. companies could set boundaries for Apple Inc, its latest volley in an ongoing feud. The companies went up against each other after Apple announced a privacy feature allowing users to block advertisers from tracking them across different application. Facebook and other companies, which earn revenue from advertisement sales, had said the feature will hurt developers. Apple had hit back saying, “When invasive tracking is your business model, you tend not to welcome transparency and customer choice.” One of…
New Delhi: Taking its autonomous vehicle pilot with a startup called Gatik to the next level, retail giant Walmart is now planning to start deliveries with driverless truck in the US state Arkansas starting next year. “This achievement marks a new milestone that signifies the first ever driverless operation carried out on the supply chain middle mile for both Gatik and Walmart,” Tom Ward, Senior Vice President of Customer Product, Walmart US, said in a statement on Tuesday. The move comes after Walmart last year began an autonomous vehicle pilot with Gatik to move customer orders on a two-mile route…
Today, the domestic stock market has witnessed a great boom amidst strong global signals. Both the Sensex and the Nifty reached record highs in the business. The closing of both indexes was also recorded. The Nifty also crossed the 13650 level today. At the same time, the Sensex has managed to cross the 46700 level. In today’s business, the market has got good support from realty, auto and metal stocks. Shopping has been done in every sector except PSU bank. The Sensex has gained 403 points at the end of trading and has closed at the level of 46,666.46. At…
Cupertino: Fitness+ is designed to work with the Apple Watch, providing workouts that can be done on an iPhone, iPad, or Apple TV, with the Apple Watch tracking fitness progress. “Apple Fitness+ dynamically integrates personal metrics from Apple Watch to inspire users, animating them on the screen during key moments in the workout, providing an engaging and immersive experience to help users stay motivated,” the company said in a statement. To use Fitness+, one must have an iPhone 6s or later updated to iOS 14.3 and an Apple Watch Series 3 or later updated to watchOS 7.2. It also works…
Bangalore: Also, more than half (56 per cent) of Indian firms said they plan to run an integrated hybrid environment within five years, stating that traditional data centre penetration will drop from 13 per cent to 3 per cent. “Cloud infrastructure is now a critical component of IT infrastructure, as Indian enterprises branch further into investing in digitization and look for secure alternatives for their workloads,” said Balakrishnan Anantharaman, managing director, sales, India and SAARC, Nutanix. “In the business environment brought about by the pandemic, flexibility and security have emerged to be of utmost importance, and Indian enterprises need the…
Mumbai: The BSE Sensex remained on top for another day on Tuesday as it finished at 46,263.17, at. a New peak, registering a small gain of 9.71 pts following gains in Consumer Durable, Finance and Auto stocks. The Nifty of national stock exchange too rose by 9.70 pts at 13,567.85. Despite high volatility, the equity market maintained its rally intact as the Sensex opened higher at 46,287.39, rising by 34 pts. During the day it surged nearly 97 pts to 46,350.30 days high, before closing at 46,263.17, up by 9.71 pts from its previous close. Meanwhile, it was nosedived 413…
New Delhi: Rising coronavirus cases and subsequent lockdowns in key export markets dragged India’s merchandise exports lower by 8.74 per cent in November, official data showed on Tuesday. The country’s merchandise exports during the month under review receded to $23.52 billion from $25.77 billion in November 2019. “Cumulative value of exports for the period April-November 2020-21 was USD 173.66 billion as against USD 211.17 billion during the period April-November 2019-20, registering a negative growth of (-) 17.76 per cent in dollar terms,” a Ministry of Commerce and Industry statement said on the basis of preliminary data. “Non-petroleum and Non-Gems and…
Designed to be India`s most rewarding premium fuel co-brand credit cardUpto 25X Reward Points spends for BPCL Fuel, Lubricants & Bharatgas spends (Website & App only)*Comprehensive card offering accelerated savings across other major spend categories Mumbai : SBI Card, India’s largest pure play credit card issuer, and Bharat Petroleum Corporation Ltd, a Maharatna Company and the second largest petroleum company in India today announced the launch of the BPCL SBI Card OCTANE. The card has been designed to offer maximum savings to the well-heeled consumer segment which spends a significant amount on fuel. The BPCL SBI Card OCTANE brings 25X…
Mumbai: Burger King India Ltd (BKIL) is one of the fastest growing international QSR chains in India which got positive response on its IPO International quick service restaurant chain Burger King India ltd (BKIL) began its journey on Indian bourses with a stupendous opening garnering a premium of over 92 per cent on the first day of trade on Monday. Against the issue price of Rs 60, Burger King stock opened at Rs 115.35 on BSE, while on the National Stock Exchange, shares made a debut at Rs 112.50, a premium of over 87 per cent over the IPO price.…
Mumbai: There is unlikely to be any change in the inflation target band or framework given to India’s Monetary Policy Committee (MPC) that is due for a review next year, Reserve Bank of India Governor Shaktikanta Das told in an interview. “I am not aware of any such thinking to change the framework. It is cast in law. I think we should be able to deal with it within the existing framework,” Das told the financial daily. There were talks about the government looking at relaxing the inflation target band to provide the central bank with more flexibility in supporting…
The domestic stock market has been doing well in the midst of better global signals and today the Sensex and Nifty both closed in the green mark. The market started with record highs. The Nifty crossed 13550 for the first time in business. At the same time, the Sensex has also managed to cross 46350 for the first time. Today, good purchases are being seen in metal and pharma stocks. However, there has been pressure in auto and realty stocks. Currently, the Sensex has gained 154 points and has closed at the level of 46,253.46. At the same time, the…
New Delhi: Tata group may bid for Air India. The deadline for bidding for Air India is ending today i.e. on Monday. According to sources, Tata Group can file Expression of Interest (EOI) for Air India. However, officially no one has said anything about this. Let us tell you that the Tata Group had established this airline in 1932 and it was exited in 1953, 67 years ago. According to sources, the Tata group may use AirAsia as a vehicle in which Tata Sons will have a larger share. As of now, Tata Sons operates Vistara Airlines in association with…
New Delhi: The rate of wholesale inflation has been recorded at 1.55 per cent in November 2020 due to tightening inward in the market and increasing demand, compared to 0.58 per cent in the same month of the previous year. According to the data released by the Union Ministry of Commerce and Industry here on Monday, the wholesale inflation rate in October 2020 was 1.48 percent. Due to the Karona epidemic in the current financial year, the retail market demand remained low and the wholesale inflation rate in the period from April to November 2020 has been negative at 0.28…
New Delhi: Triumph Motorcycles has an aggressive product pipeline for India market in the next six months with nine new bike models, including some special editions, slated for launch as the British premium bike maker looks to consolidate its position further in the niche space, a top company executive has said. Triumph India is hopeful of growing by 20-25 per cent in its current fiscal year, though it may see almost flat sales growth in calendar year 2020 on account of zero business in the first few months of the pandemic. Triumph India has 16 motorcycles in its portfolio ranging…
New Delhi: The Finance Ministry will decide in the fourth quarter of the current financial year to infuse capital of the remaining Rs 14,500 crore in public sector banks (PSBs). Sources gave this information. Sources said that after reviewing the performance of the first half, it has been revealed that out of 12 state-owned banks, Punjab and Sindh Bank needs capital of Rs 5,500 crore to meet the regulatory requirements. In such a situation, the government has approved the infusion of capital in Punjab & Sind Bank by preferential allocation of equity shares last month. Parliament in September approved a…