Author: Finance Khabar
The domestic stock market has seen fluctuations throughout the day amid mixed global signals. The market started strongly, but later sold. However, at the end of the business again there was a great recovery from the lower levels. The Nifty has again reached close to 13000. The Sensex is currently up by 432 points and has closed at a level of 44,259.74. At the same time, the Nifty also closed 129 points strong at the level of 12987. Metal stocks rose strongly in today’s business. Bank and financial stocks have also been buying heavily. Tata Steel and Bajaj Finance are…
The Aircraft Regulatory Director General of Civil Aviation (DGCA) has banned all types of commercial international flights till further orders due to the Corona epidemic. This order will be effective till 31 December. Under this order, not only commercial flights from India to other countries, but also commercial flights coming from other countries are banned.Commercial international flights have been banned since 23 March due to the Corona epidemic this year. However domestic flights were also banned at that time which was resumed from 25 May. Under the order issued by DGCA, it will not be applicable to international all-cargo operations.…
New Delhi: Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said that after seeing a sharp contraction in country’s GDP in the first quarter, Indian economy has recovered stronger than expected from the initial impact of the COVID-19 pandemic. He added that there is still a need to be watchful of demand sustainability after the end of festivities. “We need to be watchful about the sustainability of demand after festivals and a possible reassessment of market expectations surrounding the vaccine,” he said during the annual day event of Foreign Exchange Dealers’ Association of India (FEDAI) He further said…
Markets regulator Sebi has imposed a fine totalling Rs 2 crore on seven entities including promoters and former senior officials of Zylog Systems Ltd for violating several market norms while dealing in the firm’s scrip. Out of the entities facing a penalty, Sthithi Insurance Services, Sudarshan Venkataraman and Ramanujam Sesharathnam were promoters of Zylog. Besides, Vekantaraman is the former chairman and chief executive officer, while Sesharathnam was managing director and chief operating officer of the firm and M V Ganesan was its vice president-corporate accounts. Sebi found that certain entities who were found to be a person acting in concert…
FarmERP has joined hands with The Global G.A.P., becoming the member of this worldwide renowned organization that is a trademark, along with being a set of standards for Good Agricultural Practices (G.A.P.). Back in 2001, at a time when there was little to no connection between agriculture and technology, a Pune-based startup, Shivrai Technologies, founded by technology entrepreneurs Sanjay Borkar and Santosh Shinde, developed the FarmERP platform that began to bridge the gap between these two industries. Today, FarmERP is not only a pioneer in the AgriTech industry, but it is also the leading solutions provider to various industries spanning…
Kolkata: KONE Elevator India, a fully owned subsidiary of KONE Corporation, is proud to announce that it has emerged as the 100 Best Companies for Women in India (BCWI) 2020 by AVTAR Group and Working Mother Media, for the fifth successive time making it to the “Hall of Fame”. This award is a recognition of KONE Elevator India’s commitment to building sustainable careers for women. At KONE Elevator India, diversity and inclusion are inherent parts of the way the organisation works, and continues advancing diversity and inclusion through progressive policies, practices and benefits, professional development and well-being programs, across every…
New Delhi: The Income Tax Department has issued refunds worth more than Rs 1.36 lakh crore to 41.25 lakh taxpayers so far in the current financial year. The Income Tax Department said that it included Rs 36,028 crore as the amount of personal income tax (PIT) refund, while corporate tax refunds of over Rs 1 lakh crore were issued. The Income Tax Department tweeted, “CBDT issued refunds of over Rs. 1,36,962 crore to over 41.25 lakh taxpayers between April 1, 2020 and November 24, 2020. Income tax refunds worth Rs 36,028 crore were issued in a total of 39,28,067 cases,…
The new 2020 Mahindra Thar, which was very popular before the launch, is now once again in the headlines for safety. All New Mahindra Thar has achieved a rating of 4 stars in the Global NCAP crash test. It has got a rating of 4-4 stars in both adult safety and child safety. With this rating, the 2020 Mahindra Thar has become the safest off-roader in India. The version of the new Mahindra Thar tested in the crash test had ABS with dual airbags and EBD which are the Basif Safety features. Testing took place in Germany. The adult dummy…
Mumbai: The rupee appreciated by 10 paise to close at 73.91 against the US dollar on Wednesday as positive development on the coronavirus vaccine front enthused investor sentiment. At the interbank forex market, the domestic unit opened at 73.98 against the greenback, and witnessed an intra-day high of 73.88 and a low of 74.02. The local unit finally closed at 73.91 against the American currency, registering a rise of 10 paise over its previous close. On Tuesday, the rupee had climbed 10 paise to close at 74.01 against the US dollar. Traders said risk appetite increased on news that US…
There has been heavy selling in the stock market. The market started strongly. The Sensex crossed 44800 for the first time in business. The Nifty also crossed the 13000 level. After trading strongly in the day, there was a huge profit in the last hour of trading. Sensex weakened by about 997 points from upper levels. At the same time, the Nifty also fell below 12900 with a big fall. All-round selling has been seen in the market. Currently, the Sensex has fallen by 695 points and has closed at the level of 43,828.10. At the same time, the Nifty…
New Delhi: India’s leading lender State Bank of India (SBI) has announced that it has raised Rs 2,500 crore by issuing Basel-III compliant bonds. The committee of directors for capital raising at its meeting held on Tuesday accorded “approval to allot 25,000 Basel-lll compliant non-convertible, taxable, perpetual, subordinated, unsecured, fully paid-up debt instruments in the nature of debentures qualifying as AT 1 capital of the bank, of face value of Rs 10 lakh each, at par, bearing a coupon of 7.73 per cent per annum payable annually with call option after five years and on anniversary dates thereafter, aggregates to…
The market valuation (m-cap) of HDFC Bank surged Rs 8 lakh crore in early trade on Wednesday, making it the first domestic lender to achieve the feat. With this achievement, the bank has become the third most valued domestic firm in terms of market capitalisation. The company’s market valuation rose to Rs 8,05,742 crore on the BSE. The company share price jumped 1.76 per cent to its one-year high of Rs 1,464 on the BSE. Not a long ago, Reliance Industries Limited reached the market capitalisation of Rs 13,30,633.76 crore, becoming country’s most valued firm. The second position is held…
New Delhi: The Union Cabinet on Wednesday approved the amalgamation of the Karur based 94-year old Lakshmi Vilas Bank (LVB) with DBS Bank India, a subsidiary of DBS Bank, Singapore. Briefing the media about the cabinet decision on the matter Union Minister Prakash Javadekar said the cabinet has approved the amalgamation of LVB with DBS Bank. Javadekar said liability will be fixed for wrongdoings in LVB on the board members that has been removed. “This is one of the efforts of cleaning up the banking sector,” Javadekar said. He said the interests of LVB’s 20 lakh depositors, Rs.20,000 crore deposits…
Mumbai: The December contract of gold on the Multi Commodity Exchange (MCX) is currently trading at Rs 48,975 per 10 gram, lower by Rs 505 or 1.02 per cent from its previous close. Similarly, domestic futures of silver also continued its downward trend on Tuesday and its December contract on the MCX is currently at Rs 59,825 per kg, lower by Rs 700 or 1.16 per cent from its previous close. Anuj Gupta, DVP for Commodities and Currencies Research at Angel Broking Ltd said that noted that the decline has been on the back of recovery in global equity market…
Mumbai: In a circular, NSE says, “…the member has been expelled from the membership of the Exchange under Rules 1 and 2 of the NSEIL Rules and has been declared as defaulter under provision 1(a) of chapter XII of Exchange bye laws from 23 November 2020 after close of marker hours. A major scam had erupted in November last year after it surfaced that Karvy had transferred securities worth Rs 2,300 crore of more than 95,000 clients, into its account by misusing the power of attorney (PoA) of the clients. Subsequently, there was change in regulations to fix this loophole…
New Delhi: Experts have emphasized the urgent need for BIS standards for Aluminium Scrap to address quality, environment and safety concerns, as per global benchmarks and check the recycling, usage, and imports of sub-standard scrap. This will help facilitate fair trade of scrap and will enable the availability of the right quality of scrap at the right price and ensure quality end products with zero harmful effects on the environment. China’s National Sword Policy and other measures to restrict scrap import has resulted in the diversion of entire global scrap chain towards India. This is further fueled by the lack…
New Delhi: Used car marketplace CARS24 on Tuesday said it has raised $200 million in Series E funding round at a valuation of over $1 billion. The funding round was led by DST Global with participation from existing investors including Exor Seeds, Moore Strategic Ventures and Unbound. The company said that the new funds will be used to invest aggressively in technology and product innovation and scale new business verticals. “With this investment, we will continue to innovate our product and bolster our capabilities to provide the best experience for all parties — with sellers getting the best value for…
New Delhi: The government blocked 43 mobile applications from accessing by users in India on Tuesday. The apps were blocked under Section 69A of the Information Technology Act. The action is based on inputs regarding these apps for engaging in activities prejudicial to India’s sovereignty, integrity, defence, security and public order. Earlier in June, access to 59 Chinese mobile apps were blocked. In September, 118 more apps were banned under Section 69A of the Information Technology Act. The government is committed to protect the interests of citizens and sovereignty and integrity of India on all fronts and it shall take…
New Delhi: Vladimir Norov, general secretary of the Shanghai Cooperation Association (ASCO), an organization of countries in the Asia-Pacific region, has said that digital will play an important role in bringing economies back on track after the Covid-19 pandemic, and help affiliate countries in this direction I should try seriously. Addressing a program of the Federation of Indian Commerce and Industry (FICCI) late last evening, Mr. Norov said that the main objective of the SCO is to accelerate the economies of all member states. For this, about 150 economic activities have been started. In these activities, all member countries will…
Elon Musk, co-founder and CEO of Tesla Inc. and SpaceX, has become the second richest person in the world. He left behind Microsoft co-founder Bill Gates. The 49-year-old Elon Musk’s net worth has increased by $ 7.2 billion in the past and has now increased to $ 127.9 billion. According to a report by Bloomberg, this has resulted in an unprecedented increase in their net worth after a huge surge in Tesla shares. Elon Musk’s net worth has increased by $ 100.3 billion this year. In January of this year, he was ranked 35th on Bloomberg’s list of the world’s…