Author: Finance Khabar
Mumbai: The BSE Sensex on Wednesday dropped by 599.64 pts to settle at 39,922.46 on selling in Finance, Bankex, Realty and Metal stocks amid negative global peers. The Nifty of national stock exchange too fell by 159.80 pts at 11,729.60. Surging by 376 pts on Tuesday, the day opened on a positive note at 40,664.35 up by 142 pts and remained days high. Later, the Sensex nosedived nearly 784 pts to 39,774.60 days low before closing at 39,922.46, sliding by 599.64 pts from its previous close. The sensex registered days high and low at 40,664.35 and 39,774.60 pts respectively. The…
New Delhi: SBI Life Insurance Co Ltd (SBI Life) on Monday reported over two-fold jump in net profit at Rs 299.73 crore for the second quarter ended September of the current fiscal year. SBI Life had posted a net profit of Rs 129.84 crore in the same quarter a year ago. Total income rose 45 per cent to Rs 18,458.25 crore during July-September period of 2020-21 from Rs 12,745.38 crore in the corresponding quarter of 2019-20, SBI Life said in a regulatory filing. Net premium income increased 22 per cent to Rs 12,857.95 crore during the quarter under review from…
New Delhi: Kotak Mahindra Bank’s second quarter jumped as the asset quality improved. The bank on Monday posted a 26.7 per cent rise in its standalone net profit to Rs 2,184.48 crore for the September quarter. The private sector lender had posted a net profit of Rs 1,724.48 crore during the same quarter a year ago. The bank, in a regulatory filing, said that the total income (standalone) rose to Rs 8,288.08 crore in the July-September period as against Rs 7,986.01 crore in the year-ago period. The non-performing assets (NPAs) of the bank plunged to 0.64 per cent of the…
London: Cloud major Oracle on Monday announced a new dual-region UK government Cloud, operating from data centres in London and Wales to help organizations such as National Health Service (NHS) store and process official information and transactions securely. The dual-region Cloud includes services such Autonomous Database, Kubernetes, OCI services and Fusion Cloud apps as well as storage, reports Computing.co.UK. “Today’s announcement really unlocks a completely new potential for all of our customers across the UK to take advantage of Oracle’s second-generation cloud,” said Richard Petley, senior vice president, Oracle UK and Israel. “This is a completely unique offering to the…
New Delhi: In a sign that economic revival is getting more pronounced in the unlock phases, country’s goods and service tax (GST) collections set to cross the Rs 1 lakh crore mark for the first time during this financial in October. Sources in the government indicated that collections during October looked healthy as the number of monthly returns (GSTR3B) filed during the month till now has already crossed 75 lakh mark. This is around 15 lakh more than the number of returns filed in September. With few more days left for the month to get over, the expectation is that…
Airtel IQ will help businesses drive deeper customer engagement through seamless and secure communication delivered over cloud Swiggy, Urban Company, Justdial, Rapido, Havells among early customers Meerut: Bharti Airtel (“Airtel”), India’s largest integrated telecommunications company, marked its entry into the fast-growing cloud communications market with the launch of Airtel IQ today. Airtel IQ, a cloud-based omni-channel communications platform, enables brands to deepen engagement with customers through timely and secure communication. Take for example a customer ordering food through an online platform and calling the delivery agent to find out the status of her order. The entire communication is orchestrated seamlessly and securely…
New Delhi: Muthoot Finance Ltd. on Monday announced its 23rd series of Public Issue of Secured Redeemable Non-Convertible Debentures of face value of Rs 1,000 each. The Issue is with a base issue size of Rs 100 crores with an option to retain oversubscription upto Rs 1,900 crores aggregating up to tranche limit of Rs 2,000 crores. The Issue opens on October 27 and closes on November 20 with an option to close on such earlier date or extended date as may be decided by the Board of Directors or NCD committee, the company said in a statement. The Secured…
New Delhi: Maruti Suzuki’s premium hatchback Baleno has sold a cumulative 8 lakh vehicles since its launch in 2015. In its present form, the premium hatchback is equipped with ‘Smart Hybrid technology and a BS6 compliant 1.2L Dual Jet Dual VVT engine’. “Baleno helped us bring new customers to the Maruti Suzuki family,” said Shashank Srivastava, Executive Director (Marketing & Sales), Maruti Suzuki India. “This significant milestone of 8 lakh delighted customers within a short span of 5 years is a testament of our customer-centric philosophy which is at the core of Baleno’s conceptualisation.” The vehicle is exclusively manufactured in…
New Delhi: The Indian hotel industry’s recovery to pre-Covid levels profits is at least three years away, ratings agency ICRA has said. The ratings agency said that road ahead for the industry is rough as revenues and margins are expected to post record decline in FY21 with losses mounting over the next two years. The hotel industry has witnessed one of the worst revenue declines, in Q1FY21, with revenues for the industry sample declining by 85 per cent. “Given the high operating and financial leverage in the industry, the revenue decline led to huge operating and net losses in Q1…
The Google Pay app has been removed from Apple’s App Store. This step has been taken to fix any problem coming in the app. Google Pay is one of the most popular digital payment apps. Although this app has been removed from the Apple Store, but it is listed on the Google Play Store. This is not the first time that users are facing this problem. A few weeks ago the same app was removed from the Play Store and many users complained about it on Twitter. There were some technical flaws in this, which Google later corrected. This time…
Mumbai: The BSE Sensex on Monday dropped by 540 pts to settle at 40,145.50 as selling was seen in Energy, Auto, Metal, Realty and Oil and Gas stocks. The Nifty of national stock exchange too fell by 162.60 pts at 11,767.75. The day opened on a weak note at 40,649.76, fell by 36 pts. During the day the Sensex was tumbled down by 737 pts to 39,948.29, days low before closing at 40,145.50 down by 540 pts from its previous close. The sensex registered days high and low at 40,724.40 and 39,948.29 pts respectively. The Nifty recorded days high and…
New Delhi: Amazon had dragged Future to arbitration after the Kishore Biyani group firm had agreed to sell businesses to billionaire Mukesh Ambani’s Reliance. Passing an interim award in favour of Amazon, V K Rajah – the sole arbitrator in the Amazon vs Future vs Reliance arbitration matter – has asked the Future group to put the deal on hold and said that the deal cannot go through until it finally decides the matter. Confirming the development, an Amazon spokesperson said that the arbitration panel has granted the reliefs sought by it and expect an expeditious conclusion of the arbitration…
Mumbai: The mantra was simple, but hard to implement in an economy still criticised for its cronyism: friendship and banking are not correlated, and good friends representing bad business risk get nothing more than a coffee. The remarks, made in the context of how he avoided lending to fugitive offenders Vijay Mallya and Nirav Modi, speak volumes about how the outspoken and witty banker born in Gurdaspur, Punjab, built a formidable institution from scratch over a 25-year journey that has no parallel in India. While heading a foreign bank’s operations in Malaysia in the early 1990s, Puri got an offer…
New Delhi: They are of the view that the National Logistics Policy which is currently under works would digitally integrate all stakeholders and the processes involved in the operations. “The foremost expectation from the National Logistics Policy is a digital integration of the highly fragmented players and processes of the logistics sector in India. The non-availability of such single window platforms makes the logistics sector too complicated,” said Ambrish Kumar, Founder of Zipaworld and Group CEO, AAA 2 Innovate Private Ltd. Noting that digitisation is the need of the hour for the logistics sector in India, Kumar said that government…
New Delhi: RBI governor Shaktikanta Das said he is asymptomatic and has alerted those who came in contact with him in recent days. “I have tested COVID-19 positive. Asymptomatic. Feeling very much alright. Have alerted those who came in contact in recent days. Will continue to work from isolation. Work in RBI will go on normally. I am in touch with all Dy. Govs and other officers through VC and telephone,” he tweeted. Currently, the RBI has full strength of four deputy governors B P Kanungo, M K Jain, M D Patra and M Rajeshwar Rao. The RBI governor was…
Yes bank is going to close its 50 branches. Apart from this, the bank is also considering reducing the number of its ATMs. This is because under the new management, this private sector bank is running a target of 20 percent reduction in operating expenses in the current financial year 2020-21. Prashant Kumar, the new CEO and Managing Director of Yes Bank has said that the bank is returning the non-leased sites on lease. In addition, he is in talks to fix the rent rates in the rented places. Kumar said that the big defaulters are going to the courts,…
New Delhi: All eyes are on the benchmark indices if they can move up further to the highs of 42,273 points hit on January 20 this year. On October 23, the BSE Sensex opened at 40,728 points, almost the same level seen on January 31 of 40,723 points. The market lows came on March 23 of 25,981 points. Since the march lows, the BSE Sensex has retraced and is now up to the January levels within seven months of the lows in March. Siddhartha Khemka, Head of Retail Research, Motilal Oswal Financial Services said going ahead, market is likely to…
People will now have to pay to use Facebook-owned chatting platform Whatsapp. The company has given this information through one of its official blog posts. However, the company has not yet given information about how much money will have to be paid for its use. Millions of people use WhatsApp. It includes people from common to special. However, the company has informed that not everyone will have to pay for its use. Only Whatsapp Business users will have to pay money for its use. Whatsapp Business has announced a ‘pay-to-message’ option for this. The company wrote in its blog, “We…
New Delhi: The world has changed significantly in terms of every single variable in the pandemic times, including human behaviour, and it is the right time consumers are efficiently nudged into in order for brands to build and deliver effective campaigns in the run up to Diwali and beyond, a top Facebook executive has said. This nudging has to be done keeping the fact in mind that most of the buying decisions are now being made on smartphones — via Facebook and its family of apps, Sandeep Bhushan, Director and Head of Global Marketing Solutions (GMS) by Facebook India, told…
IL&FS Board is hopeful that it will be able to address the targetted debt of over Rs 50,000 crore in the current financial year despite the impact of the pandemic. It is hopeful of achieving the targeted debt resolution of over 50 per cent of the overall debt. In a statement on Saturday, IL&FS said that the aggregate value of debt being addressed is pegged at Rs 56,300 crore, with over Rs 50,000 crore likely to be addressed by March 2021. In July, the company had said it expects to address debt of about Rs 57,240 crore, with around Rs…