Author: Finance Khabar

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…

New Delhi:The rule of real time gross settlement system (RTGS) facility is going to change in the country from 14 December. RTGS facility will be available 24 hours a day, seven days from 12.30 pm tonight (14 December). That is, customers will be able to transact money with this facility anytime, 365 days of the year. This information has been given by Reserve Bank of India Governor Shaktikanta Das via tweet. After the implementation of 24 × 7 RTGS, India will join some countries where this facility is available 24 hours and seven days. Right now money can be transacted…

New Delhi: The Tax Department will actively conduct consultation prior to issuance of show-cause notices to evaders and assessees of GST so as to facilitate easier resolution of tax disputes and prevent increasing number of litigation. The Central Board of Indirect Taxes and Customs (CBIC) has clarified that such consultations with assessee, prior to issuance of show-cause notice (SCN) in case of demands of duty is above Rs 50 lakh (except for preventive/offence related SCNs), is mandatory and shall be done by the SCN-issuing authority. The process will involve tax authorities holding talks with assessees on the tax demand raised…

New Delhi: Earlier in September this year, the Employees Provident Fund Organisation had decided to split 8.5 per cent interest into two installments of 8.15 per cent and 0.35 per cent in its trustees meet headed by Labour Minister Santosh Gangwar. A highly placed source told PTI that the Labour Ministry has sent a proposal to the Finance Ministry to give concurrence to credit 8.5 per cent rate of interest on EPF for 2019-20 earlier this month. ”The Ministry of Finance ratification is likely in few days. Thus the interest is likely to be credited by this month only.” The…

Bangalore: Retail consumers in India slowed gold purchases this week put off by higher local prices, while top consumer China saw a slight pick-up in demand as jewellers stocked up going into year-end. Local gold futures rebounded to around 49,100 rupees per 10 grams on Friday, from its lowest since June 19, at 47,550 rupees, touched last week. “Retail jewellery demand has been coming down due to volatile prices,” said Anoop Chemmanur, managing director of Chemmanur Jewellers in Bangalore. Premiums eased to $2.5 an ounce over official domestic prices, inclusive of 12.5% import and 3% sales levies, from $3.5 last…

Mumbai: In FAQs on Resolution Framework for COVID-19 related stress, the RBI said that borrowers can invoke the resolution framework by merely submitting a request to the lending institutions. The Reserve Bank had announced a resolution framework to help the entities facing financial stress on account of disruption in normal business activity on account of coronavirus pandemic. “The Resolution Framework does not require any resolution plan in any form to be submitted to the lending institutions at the time of request for invocation. Rather, for invocation, the borrowers are required to merely submit a request to the lending institutions for…

New Delhi: The industry body, which is currently led by Maruti Suzuki India (MSI) MD and CEO Kenichi Ayukawa, had earlier projected an increase of around 13 per cent in passenger vehicle wholesales in the monthly data. However, later in the day, it sent out revised data after correcting MSI passenger vehicle wholesale figures of last month. As per Society of Indian Automobile Manufacturers, two-wheeler sales rose 13.43 per cent to 16,00,379 units, compared with 14,10,939 units in the same month last year. Motorcycle sales were at 10,26,705 units as against 8,93,538 units in November 2019, up 14.9 per cent.…

Mumbai: The Sensex zoomed by 1,019.46 points or 2.26 pc to settle at 46,099.01 in a week under review on positive global cues and hopes for vaccine approvals in India boosted investor sentiment. Sentiment was underpinned by data showing a steady decline in new coronavirus cases in India. The Nifty 50 index rose 255.30 points or 1.93 pc to settle at 13,513.85. The BSE Mid-Cap gained 132.30 or 0.76 pc to settle at 17,521.32. BSE Small-Cap added 235.29 points or 1.36 pc to settle at 17,552.58. Except Thursday, the equity market remained firm during the week. On Monday the Sensex,…

New Delhi: He also emphasised on the need for a “social contract” between the government, private sector and the broad civic society that allows creation of harmony to navigate changes together. “Having grown up as a son of an Indian civil servant, I think quite a bit about public sector and also the institutional strength of our public sector institutions is so important…how do we get the public sector to the efficient frontier of even technology use. “And, this is where I think some of the work that’s happening in India, whether it is the ID system or the banking…

Mumbai: India moved down seven spots in the global home price index to 54th rank in the third quarter (July to September) against 47th rank in Q3 2019 with a decline of 2.4 per cent year-on-year in home prices, Knight Frank said on Friday. In the performance compared to previous quarter (Q2 2020), the ranking remains unchanged to 54th spot among the 56 countries and territories tracked in Q3 2020 index. Knight Frank’s global house price index tracks the movement in mainstream residential prices across 56 countries and territories worldwide using official statistics. In the 12-month percentage change for the…

New Delhi: Industrial production (IIP) has increased by 3.6 percent in October. The main reason for this has been the superior performance of the manufacturing and power generation sectors. This has been revealed from the official data released on Friday. According to Index of Industrial Production data, the manufacturing and power generation sectors have seen growth of 3.5 percent and 11.2 percent respectively. At the same time, the mining sector has fallen by 1.5 percent during the month of October. Industrial production was down by 6.6 percent in October 2019. Last month, after six months in the country’s industrial production,…