Author: Finance Khabar

IT services and consulting major Infosys on Thursday announced that it has signed an agreement to acquire Blue Acorn iCi for up to USD 125 million (about Rs 915 crore). Blue Acorn iCi is a digital customer experience, commerce and analytics services provider. “The move further strengthens Infosys’ end-to-end customer experience offerings and demonstrates its continued commitment to help clients navigate their digital transformation journey,” the company said in a release. “Together with Infosys’ earlier acquisition of WONGDOODY that offers creative and marketing services, BlueAcorn iCi brings complimentary capabilities to help global CMOs and businesses thrive in a digital commerce…

Mumbai: Mukesh Ambani remains at No. 1 for the 13th year in the Forbes List of Indias 100 Richest, as the tycoon added $37.3 billion, bringing his fortune to $88.7 billion, a rise of 73 per cent. Amid the Covid-19 pandemic which hit India hard and led to a sharp economic contraction, half of the nation’s 100 richest on the 2020 Forbes India Rich List saw gains. Their collective net worth rose 14 per cent to $517.5 billion from a year earlier, even as the benchmark BSE Sensex stock index remained flat from a year ago. Shares of his Reliance…

The domestic stock market has seen a strong boom amid strong global cues. In today’s business, the Nifty has crossed 11850. However, it later closed at the level of 11835. Expectations of another relief package have increased in the US, after which there was good buying in the markets there on Wednesday. Even today, markets around the world have increased due to better sentiment. In today’s business, the Sensex is up by 308 points and closed at 40187 level. At the same time, the Nifty is up by 96 points and closed at 11835 level. Business has seen fierce buying…

Mumbai: Faced with an unprecedented downturn, India needs to continue with critical reforms to reverse the sudden and steep impacts of Covid-19 pandemic on its economy, said the World Bank in its twice-a-year-regional update. The latest South Asia Economic Focus relaxed on Thursday forecasts a sharper than expected economic slump across the region, with regional growth expected to contract by 7.7 per cent in 2020, after topping 6 per cent annually in the past five years. India’s economy, the region’s largest, is expected to contract by 9.6 per cent in the fiscal year that started in March 2020. The country’s…

Mumbai: Tata Group-led Titan Company on Thursday announced to exit its joint venture with German luxury brand Montblanc. The development is in line with Titan’s strategy to focus on its primary business and proprietary brands, the company said in a regulatory filing. As per the joint venture agreement, the partnership will end in December 2020. “In line with the company’s strategy to focus on its primary business and proprietary brands, and as mutually agreed with Montblanc, the company would be divesting its stake in the JV company and accordingly the requisite formalities will be completed in December 2020,” Titan said…

Mumbai: Shares of Tata Consultancy Services (TCS) on Thursday closed with over 3 per cent gains after the company announced a mega-Rs 16,000 crore buyback plan at Rs 3,000 per equity share. The stock closed at Rs 2,824.80, up 3.19 per cent on the BSE. During the day, it rose by 5.39 per cent to Rs 2,885 — its record high. On the NSE, it jumped 3.02 per cent to close at Rs 2,818.45. The company’s market valuation also rose by Rs 32,796.63 crore to Rs 10,59,973.63 crore on the BSE. In traded volume terms, 6.93 lakh shares were traded…

Over 93,500 data science jobs were vacant in India at the end of August 2020, a study conducted by EdTech company Great Learning said. Despite COVID 19, the enthusiasm and optimism around the analytics function continues to remain high with India contributing 9.8 per cent of the total global analytics job openings in August 2020 compared to 7.2 per cent in January this year, it said. While the sector did witness a decrease in vacancies (from 109,000 vacancies in February to 82,500 vacancies in May 2020), the demand has continued to be fairly consistent across key industry sectors. The factors…

The Central Committee on Economic Affairs has approved Natural Gas Marketing Reforms today. The decision taken under the chairmanship of Prime Minister Narendra Modi is an important step towards a gas-based economy. The goal of this policy of the government is to follow a transparent and competitive process to determine the prices of gas sales. Under this policy, prices will be fixed in a transparent manner through e-bidding and business convenience will increase with the introduction of this policy. The new guidelines will apply to gas producing companies and will apply to the prices and marketing of gas coming out…

Consolidated net profit of Tata Consultancy Services (TCS) rose 4.9 per cent to Rs 8,433 crore in the July-September quarter. This increase is on an annual basis. This profit does not include the provision of Rs 1218 crore made for a legal claim. If you add this amount, the company’s net profit in the September quarter is Rs 7475 crore, which is a 6.7 percent growth on a quarterly basis. TCS reported a net profit of Rs 8042 crore in the September 2019 quarter. The company’s revenue also registered an increase in the September 2020 quarter and it grew 3…

Axis Mutual Fund’s investor awareness campaign aims to educate investors about the benefits and importance of a Systematic Investment Plan (SIP) to fulfill all their financial goals – big & small – https://www.youtube.com/watch?v=zXvqgm-ui_YFurthermore, the fund house has revamped its mobile application to enable a seamless experience for the consumers who are investing through the appFrom April 2020 onwards, Investments from the app have grown at a rate of 30% month-on-monthThe app contributes around 23% (as on September 2020) of the new Direct Investment in-flow at Axis Mutual Fund Udaipur: Axis Mutual Fund, one of the country’s fast evolving mutual fund…

Mumbai: The Central Board of Direct Taxes (CBDT) has so far issued refunds of over Rs 1.21 lakh crore to nearly 36 lakh taxpayers in the current financial year (2020-21). It has issued income tax refunds of over Rs 33,000 crore in more than 34 lakh cases and corporate tax refund of more than Rs 88,000 crore in over 1.83 lakh cases. “The CBDT issues refunds of over Rs 1,21,607 crore to more than 35.93 lakh taxpayers between April 1 and October 6. Income tax refunds of Rs 33,238 crore have been issued in 34,09,246 cases and corporate tax refunds…

The Trump administration on Tuesday announced a plan to limit visas issued to personnel with skills coming from abroad. Officials said the move was a priority amid the loss of jobs due to the Corona virus epidemic. H1B visa is very popular among Indians. This visa is very important especially among IT professionals. In such a situation, it is definitely a shock to Indians. Officials of the Department of Homeland Security and the Department of Labor said that new rules will be issued soon on who can get visas and how much they should be paid, which will limit the…

Now train tickets can also be booked through Amazon India. For this, Amazon and IRCTC have partnered. Let us know that about a year and a half ago, Amazon started the facility of booking flight tickets through its platform. After that, added the feature of booking bus tickets in November 2019. Now the company has also given the facility to customers to book reserved train tickets. Amazon is offering 10 percent cashback on the first train ticket booking from its platform, which is up to 100 rupees. At the same time, Prime Members are getting a little more than 12…

Bangalore: E-commerce platform Flipkart said on Wednesday that it has added over 3.4 million square feet space across its supply chain assets including fulfilment centres, mother hubs and delivery centres throughout the country in preparation of the upcoming festive season and the Big Billion Days sale event. With this addition, the total warehousing space for Flipkart now totals to over 18 million square feet in addition to lakhs of square feet of assets from partner brands. Flipkart said that it has increased its last-mile reach with more than 3,000 facilities across the country to provide a fast and efficient e-commerce…

Ahmedabad: Adani Wilmar, which sells a range of edible oils and food products under the Fortune brand, has launched ready-to-cook Soya Chunkies. This is their second product in the ready-to-cook category after Khichdi. 5 Minute Soya Chunkies has been launched in three exciting flavours, viz. Mexican Salsa, Chinese Manchurian, and African Peri Peri. Soya Chunkies contains 10 times more protein than milk. The ready-to-cook Soya Chunkies, comes with a convenient masala mix sachet and can be cooked in just five minutes. “Mothers have a tough task to include nutrition into their kids snacking moments. What is tasty is not healthy,…

Mumbai: After opening on a weak note, the 30-share index gained ground to end 304.38 points or 0.77 per cent higher at 39,878.95. Similarly, the broader NSE Nifty jumped 76.45 points or 0.66 per cent to close at 11,738.85. Titan was the top gainer in the Sensex pack, climbing over 4 per cent, followed by Bajaj Auto, Maruti, Reliance Industries, ONGC and UltraTech Cement. On the other hand, Bajaj Finance, PowerGrid, Tata Steel, NTPC and Sun Pharma were among the laggards. “Market recovered quickly in morning trade and traded in the green throughout the day led by autos ahead of…

New Delhi: The Reserve Bank of India on Tuesday said the monetary Policy Committee (MPC) of the rate-setting panel will be held for three days beginning October 7. The announcement by the Central bank comes after the government filled the vacancies of three external members in the committee. “The next meeting of the Monetary Policy Committee (MPC) is scheduled during October 7 to October 9, 2020,” RBI said in a statement on Tuesday. On September 28, the RBI had postponed the meeting of the MPC, which must have a quorum of four, as the appointment of independent members was delayed.…

New Delhi: Airtel Payments Bank has upgraded its app to provide a range of digital benefits to its merchant partners in a bid to simplify the payment process. Airtel Payments Bank app now comes with two new features “Smart ePOS” and “On-Demand Settlement” for merchants. Smart e-POS (point of sale) enables merchants to use their smartphones as a POS machine to accept digital payments, the company said in a statement. The ‘On-demand Settlement’ feature enables merchants to transfer their payments into their bank accounts at any time as per their convenience. The money is instantly credited to the merchant’s registered…

The central government on Tuesday lifted the ban on export of L-95 masks. Information about this has been issued by the Director General of Foreign Trade (DGFT). It works under the Ministry of Commerce and Industry, Government of India. The government has lifted the ban on exports to promote the export of masks made in the country. Earlier, in August, the central government had set a limit of 50 lakh units every month for the export of masks in view of the country’s needs against the corona epidemic. The DGFT has stated in its notification that N-95 / FFP-2 is…

ICICI Bank on Tuesday launched a debit card facility for customers taking loans (loan against security (LAS)) in exchange for security from the bank. The card is available on the Visa platform. It can be used by customers for easy POS and online transactions at all merchant establishments such as making payments on e-commerce portals etc. Your accepted LAS amount can be used for payment. According to the statement issued by the bank, ICICI Bank is the first bank in the country to introduce this facility after allowing RBI banks to issue electronic cards to customers who enjoy the OD…