Author: Finance Khabar
New Delhi: Manufacturing sector activities in the country have improved for the second consecutive month in September. According to a monthly survey, manufacturing activities reached an eight-and-a-half year high in September due to new orders and increased production. IHS Market India’s Manufacturing Purchasing Managers’ Index (PMI) rose to 56.8 in September. It was 52 in August. This is the highest level of PMI since January 2012. IHS Markit’s Economics Associate Director Polianna de Lima said India’s manufacturing activities are moving in the right direction. There are many positives in the September PMI figures. covid-19 After the relaxation of the ban,…
San Francisco: Pichai launched Google News Showcase that features the editorial curation of award-winning newsrooms to give readers more insight on the stories that matter, and in the process, helps publishers develop deeper relationships with their audiences. “We’ve signed partnerships for News Showcase with nearly 200 leading publications across Germany, Brazil, Argentina, Canada, the UK and Australia. The number of news publications will grow as we work to expand News Showcase to other countries including India, Belgium and the Netherlands,” Pichai said in a blog post. Google News Showcase will start rolling out in Germany and Brazil from Thursday and…
New Delhi: The reason for such instances, industry insiders pointed out, was due to non-compliance of the guidelines which came into force on Thursday. Accordingly, these guidlines were implemented from October 1. The norms mandated an online consent from customers, whose cards had never been used to make online or contactless payments to be able to make such transactions from October 1 onwards. In an attempt to make digital payments using debit cards and credit cards more secure, the Reserve Bank of India (RBI) had issued several new guidelines. According to the new guidelines, card users will now be able…
Mubadala Investment Company (Mubadala), an Abu Dhabi-based government property fund, is about to buy 1.4 per cent stake in Reliance Retail for Rs 6,247.5 crore. Reliance Industries (RIL) gave this information on Thursday. This is Mubadala’s second investment in the subsidiary units of Reliance Industries. Earlier, Mubadala has acquired 1.85 per cent stake in Jio Platforms by investing Rs 9,093.60 crore. “The valuation of Reliance Retail through this investment is in line with the prior equity value of Rs 4.285 lakh crore,” Reliance said in a statement. This is the 5th investment in Reliance Retail in the last three weeks.…
New Delhi: The Central Indirect Taxes and Customs Board (CBIC) has given a one-time relief in the matter of making electronic bills (e-invoices) on business-to-business (B2B) transactions from 1 October. Under the Goods and Services Tax (GST) Act, it was mandatory for companies with a turnover of more than Rs 500 crore to create e-invoices on B2B transactions from October 1. CBIC has said in a statement that even after nine months of issuing the first notification in this regard, some businesses are not ready for it yet. Therefore, giving the last chance at the initial stage of implementation of…
State Bank of India and Hindustan Unilever Limited have entered into an agreement under which retailers will be catering to their needs by providing digital payment and financing solutions. The deal will provide digital solutions for HUL retailers and customers. It will empower HUL vendors and distributors digitally through SBI’s customized solution. Under this agreement, the bank will offer instant paperless overdraft facility up to 50 thousand rupees to the company’s vendors and a financing solution to distributors. The statement said the bank will install SBI Point of Sale machines at several HUL touch points across the country to ensure…
Maruti Suzuki India (MSI) sales rose 30.8 percent to 1,60,442 units in September. The company sold 1,22,640 vehicles in September 2019. The company said in a statement that the sales performance in September should be looked at in terms of the lower base effect of last year. Maruti’s sales in the domestic market increased by 32.2 percent to 1,52,608 units from 1,15,452 units in the same month a year ago. September Sales of the company’s mini cars Alto and S-Preso increased by 35.7 per cent to 27,246 units as against 20,085 units in the same month last year. In the…
Today, the Sensex gained 640 points to reach the level of 38708 due to heavy buying in heavy shares. The Nifty regained 11400 levels. In the midst of this boom of the market, investors also remained heavily silver. In just a few hours of business, his wealth increased by nearly 2 lakh crores. In addition to bank and financial shares, auto stocks have also seen good growth. IndusInd Bank, Bajaj Auto and Bajaj Finance received the highest returns among the leading stocks. Today the Sensex rose by 640 points to reach the level of 38708. At this stage, the market…
New Delhi: Indian Railways normally gets its rail supplies from public sector entity Steel Authority of India Ltd (Sail) that makes several railway grade steel at its Bhilai Steel plant. Research Designs & Standards Organisation (RDSO), which works under the ambit of the Railway Board, has approved field performance of UIC 60 kg, 880 Grade prime (Class- A) rails made by JSPL at its Raigarh Plant. Railway Board has accepted the field performance test report of RDSO and considered UIC 60 kg, 880 Grade prime (Class-A) rails are suitable for use in Indian Railways, a company statement said. The approval…
Seoul: The South Korean tech giant accounted for a 22 per cent share of the global smartphone market last month, beating Huawei with a 16 per cent share, according to industry tracker Counterpoint Research. The gap of 6 per cent points between the two sides is the largest since February, when China’s smartphone market was severely hit by COVID-19 lockdowns, the market researcher said, reports Yonhap news agency. Samsung lost its top smartphone vendor status to Huawei in April, but it recaptured the position later, following a recovery in the Indian smartphone market. The South Korean giant has been expanding…
New Delhi: As part of its ‘Memorandum of Understanding’ (MOU) with the Ministry of Power for financial year 2020-21, the company is also targeting a capex of Rs 21,000 crore and coal production of 15 million metric tonnes (MMT) for the current fiscal. The MoU was signed by Sanjiv Nandan Sahai, Secretary (Power) and Gurdeep Singh, CMD, NTPC in the presence of senior officials from the Ministry of Power and NTPC. NTPC has delivered exceptional performance in the past years and the ratings on the parameters stands testimony to its performance, a company statement said. Further, the group has over…
New Delhi: As part of Airtel Secure, the company also launched its Security Intelligence Centre in the National Capital Region. This facility will offer its tracking services to businesses of all sizes — from large enterprises to small and medium businesses — on a 24/7 basis. Gopal Vittal, MD and CEO (India and South Asia), Bharti Airtel, said: “With the incredible trust we enjoy from our customers, we believe Airtel Secure will provide our customers peace of mind, enable faster response times to potential threats, and help protect their data so as to reduce business risk.” The company said that…
New Delhi: The central government has extended the deadline to file GST annual return and audit report for the financial year 2018-19 by one month. Now taxpayers can file GST returns annually till 31 October 2020. The Central Board of Indirect Taxes and Customs (CBIC) tweeted, ‘In view of the Model Code of Conduct, after receiving the appropriate approval from the Election Commission, the government has given 30 days on the due date for filing annual returns under GSTR-9 and GSTR-9C. Has been increased from September 2020 to 31 October 2020. Earlier, in May, the government had extended the last…
Honda Motorcycle & Scooter India (HMSI) has unveiled its new cruiser bike H’Ness CB350 (Highness CB350). This bike made a global debut in India on Wednesday. The Honda H’Ness CB350 is a Made in India bike. It will be launched in India in the first 15 days of October. The H’Ness CB350 bike will be a rival to the Classic 350 bike of Royal Enfield. Apart from this, it will also compete with the bikes of Jawa and Benelli brands. Booking of the bike has started. It can be booked at Honda’s official website and wig wing outlets at a…
The domestic stock market has also witnessed pressure today amid weak global cues. At the end of trading, both the Sensex and the Nifty managed to remain closed on the green mark with a slight uptrend. The Sensex had a slight gain of 95 points and closed at a level of 38,067.93. At the same time, the Nifty also closed at a level of 11227 with a slight gain of 4 points. Earlier on Tuesday and Monday, the market was weak and closed. In today’s business, banks and metal stocks are selling. FMCG shares have seen a boom. Tech Mahindra…
Mumbai: Bank of Baroda, the country’s third-largest public sector bank, inaugurated the 3rd edition of ‘Baroda Kisan Pakhwada’ which is being organised from 1st October to 16th October, 2020. This event is earmarked to appreciate the spirit and vigour of the farming community for their contribution towards sustaining the economy during the pandemic and for the development of the country. ‘Baroda Kisan Pakhwada’ is a pan-India initiative to encourage farmers to get connected with the services offered by the Government and the Bank. Last year over 6,11,779 farmers were benefitted by various outreach programmes conducted by the Bank. This year…
British oil explorer Cairn Energy Plc on Tuesday said it is seeking from the Indian government USD 1.4 billion (about Rs 10,300 crore) in losses arising from the expropriation of its investments to enforce a retrospective tax demand. In its half-yearly earnings statement, the company said it expects an international arbitral tribunal to shortly give a decree on its challenge to the Indian government seeking Rs 10,247 crore in retrospective taxes. “The main evidentiary hearing of Cairn’s claim under the (UK-India Bilateral Investment) Treaty took place in August 2018 in The Hague with a final hearing in December 2018. All…
New Delhi: Google faced strong backlash from developers globally after it announced it will enforce its own in-built billing system, which charges a 30 per cent fee to all app developers. According to the IAMAI, as a payment aggregator, currently unlicensed but soon to be licensed in India, Google Billing System can choose which payment instruments it would work with and which ones it would not. “The new draft RBI guidelines on payment aggregators, too, allows for that freedom. The compounding factor for many founders is the current revenue sharing policy of the Play Store,” it said in a statement.…
New Delhi: In a regulatory filing, Dhanlaxmi Bank said the banking sector regulator through a letter dated September 28, 2020, has appointed D K Kashyap, General Manager, Reserve Bank of India, Bengaluru Regional Office as Additional Director on the board of the bank. The appointment is for a period of two years with effect from September 28, 2020, to September 27, 2022, or till further orders, whichever is earlier, it said. The RBI usually does not appoint its nominee on the boards of private banks unless there are exceptional circumstances to avoid any conflict of interest. Kerala-based Dhanlaxmi Bank was…
Ahmedabad: Adani Wilmar, the maker of the popular Fortune brand of edible oils and food products has expanded its range of personal care products by foraying into handwash and sanitizer segments. Adani Wilmar had forayed into the personal care category with the launch of soap under the brand name Alife in 2019. “Awareness regarding handwash and sanitizers has gone up in the wake of the Covid-19 pandemic. Demand has also risen sharply. We feel that this is the best time for us to foray into handwash and sanitizer segments,” said Mr Ajay Motwani, Head – Marketing, Adani Wilmar. The market…