Author: Finance Khabar
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…
Tesla is recalling up to 48,442 of its Model S and Model X electric vehicles, which were made in the U.S. and sold to customers in China, over potentially faulty and unsafe front and rear suspensions. The China State Administration for Market Regulation announced the recall Thursday night. China’s auto industry news site, Gasgoo, reported that the recall affects 29,193 imported Model Ss and Model Xs, produced between Sept. 17, 2013, and Aug. 16, 2017, and 19,249 imported Model Ss produced between Sept. 17, 2013, and Oct. 15, 2018. The cars were produced at Tesla’s Fremont, California, vehicle assembly plant.…
New Delhi: In the first half of the current fiscal (FY21), CIL’s fuel allocation under the exclusive e-auction scheme for the non-power sector rose close to six times at 13.44 million tonnes as against a mere 2.31 million tonne during the same period of previous year. Lockdown in various parts of the country and continuing sluggish economic conditions dried up demand for the dry fuel pushing CIL to explore new avenues for growth. The government had earlier asked state-run power companies such as NTPC to reduce coal imports needed for blending purpose and look more at the domestic sources. The…
New Delhi: The ongoing transmission of past monetary policy actions would help ease financial conditions, RBI Governor Shaktikanta Das had said during the Monetary Policy Committee meet earlier this month, according to its minutes released on Friday. The statement assumes significance as past rate cut transmission will provide lower interest rates which, in effect, is expected to trigger consumption and economic revival. Besides, the Governor said that there exists space for future rate cuts if the inflation evolves in line with the expectations. “This space needs to be used judiciously to support recovery in growth,” he said. Das said that…
New Delhi: Auto major Tata Motors on Saturday said its passenger vehicle vertical has crossed 40 lakh cumulative production milestone, nearly three decades after it rolled out its first model in the segment — Tata Sierra SUV in 1991. The company, which over the years has produced models like the Indica, Sierra, Sumo, Safari and the Nano, had achieved the 10 lakh production mark for passenger vehicles in 2005-06 and 30 lakh milestone in 2015. Over the years, the company always challenged the conventions and brought in many path breaking products, many times first in the market, like Sierra, Estate,…
New Delhi: ICICI Bank on Saturday said it has shut down operations in Sri Lanka after getting approval from the Sri Lankan monetary authority. The Monetary Board of the Central Bank of Sri Lanka, having considered the request made by ICICI Bank, has granted approval to close down business operation of the bank in Sri Lanka and cancel the licence issued to it, ICICI Bank said in a regulatory filing. “The Director of Bank Supervision being satisfied with the bank complying with the terms and conditions imposed by the Monetary Board, the licence issued to the bank to carry on…
New Delhi: The deadline for filing the annual Goods and Services Tax (GST) return for the financial year 2018-19 has been extended by two months. The government said on Saturday that now the annual GST return for 2018-19 can be filled by December 31. The government had earlier extended the GST return filing time to 31 October 2020 last month. The Central Board of Indirect Taxes and Customs (CBIC) said in a statement that the government was being sought to extend the deadline for filling the annual GST Return (GSTR-9) and Statement of Match (GSTR-9C) for FY 2018-19. . He…
New Delhi: The Income Tax Department has again extended the last date for filing returns, giving relief to tax payers. The Income Tax Department has said that now common citizens can file their returns for the year 2019-20 by 31 December 2020. The last date for this was fixed on 30 November 2020. According to the Finance Ministry, the deadline for filing the Income Tax Return (ITR) for the financial year 2019-20 for individual taxpayers has been extended by one month to December 31. The ministry said that for taxpayers whose accounts need to be audited, the deadline for filing…
Mumbai: Sensex spurted by 702.52 points or 1.76 pc to settle at 40,685.50 in the week under review on positive cues from global peers. Global stocks advanced amid hopes of the fresh stimulus package in the US before the presidential election and expectation of coronavirus vaccine by the end of the year. Nifty rose 167.90 points or 1.43 pc to settle at 11,930.35. BSE Mid-Cap advanced 354.79 or 2.43 pc to settle at 14,976.10. BSE Small-Cap rallied 348.03 points or 2.35 pc to settle at 15,134.59. On Monday the Sensex jumped 448.62 points to settle at 40,431.60. Nifty added 110.60…
New Delhi: The card was jointly launched by DMRC’s Managing Director Mangu Singh and Ashwini Kumar Tewari, MD and CEO of SBI Card in the presence of other senior officials from both the organisations. This multipurpose card will enable its users to use it as a Smart Card with auto-top up facility whenever the balance of the card goes below Rs 100. The credit card facility will automatically recharge a top up value of Rs 200 to the card from the user’s linked card or bank account. In addition, this combo card can also be used for all regular credit…
New Delhi: ICICI Lombard General Insurance on Friday reported The insurer had posted a net profit of Rs 307.91 crore for the year-ago period. Total income in the quarter under review rose to Rs 2,883.40 crore from Rs 2,739.67 crore in the same period of 2019-20, ICICI Lombard said in a regulatory filing. Net premium earned during the quarter grew to Rs 2,462.52 crore from Rs 2,356.92 crore. Gross direct premium income rose 8 per cent to Rs 3,189 crore. ICICI Lombard stock settled nearly flat at Rs 1,257.50 on BSE.