Author: Finance Khabar
● A health-tech solutions business, aimed at improving the health outcomes of consumers through smarter, connected and holistic care● Introduces ‘Aarogya Care’, an industry-first product, offering a wide range of Personalized, Preventive and Prepaid Healthcare packages● Based on a mobile-first approach, ‘Aarogya Care’ integrates the various complementary components of the health ecosystem, to provide ease of access to quality and affordable healthcare, anytime, anywhere Pune: Bajaj Finserv Ltd, India’s leading financial services conglomerate, today announced the launch of its fully owned subsidiary Bajaj Finserv Health Ltd., (BFHL), a health-tech solutions business, aimed at improving the health outcomes of Indian consumers…
Mumbai: On September 11, SEBI said that multi-cap funds will now invest minimum 75 per cent of total assets in equities with 25 per cent each in large cap, mid cap and small cap companies. Describing the recent “confusion” regarding its circular on multi-cap funds as “unfortunate”, Tyagi said: “What we are saying and what we are trying to address here is ‘true to label’.” “So when we said that multi-cap should have some portion in small cap and mid cap, we are not really forcing anyone to invest in those caps, we are saying investment should be done in…
New Delhi: The power producer has invited expression of interest (EoI) from companies and MSMEs for setting up energy intensive manufacturing plants such as bulk chemicals, geopolymer, cooling & heating solutions, aluminum, mineral processing (ceramics, tiles, pottery, brick, glass etc), metallurgical and metal industries (foundries, forging, alloys, heat treatment, steel rerolling, etc) in the industrial parks to be developed at its existing power plants. The pilots in this regard would be set up in the NTPC Thermal Power plants at Solapur (Maharashtra), Kudgi (Karnataka) and Gadarwara (Madhya Pradesh), a company statement said. These industrial parks will be subjected to requisite…
The domestic stock market has also seen pressure throughout the day amid weak global cues. At the end of trading, both the Sensex and Nifty indices have closed in the red mark. The Nifty became weak and closed around 11150. The Sensex has fallen by nearly 300 points and has closed at the level of 37,734.08. At the same time, the Nifty also closed at 11154 levels with a weakness of 97 points. Earlier on Monday also, the Sensex had lost nearly 812 points. Signs are getting worse from global markets. The market is also disappointed due to the delay…
Mumbai: ideaForge, India’s largest manufacturer of drones for defence, homeland security, and industrial applications, has launched its new drone RYNO, a micro category (<2 kg) survey-grade drone designed and specialized for high accuracy mapping applications. It enables users to perform highly efficient land survey operations to develop accurate maps and 3D models. ideaForge’s family of survey-grade micro drones meet all the stringent specifications laid down by the Survey of India (SOI), India’s principal mapping agency. SOI has qualified ideaForge’s family of survey-grade micro drones for mapping India’s diverse and challenging landscape under the country’s Swamitva Yojana which is the largest…
New Delhi: According to a report by CRISIL Research, India turned net exporter of steel to China for the first time in several years, with 69 per cent of semi-finished steel and 28 per cent of finished steel heading there between April and August. Indeed, it was exports that saw large primary steel makers through the peak lockdown months, with 60-80 per cent of their total production between April and August finding its way to various destinations, with China leading the pack. Consequently, crude steel production fell a lower 27 per cent on-year despite a massive 38 per cent fall…
New Delhi: The ‘Stand for Handmade’ initiative, to help over 10 lakh artisans and weavers and women entrepreneurs, enabled sellers from Amazon Karigar (for weavers and artisans) and Amazon Saheli (for women entrepreneurs) to register 3.2 times and 2.1 times growth, respectively.While 32 sellers crossed Rs 1 lakh in sales during the 10-week period, two sellers crossed Rs 1 crore in sales. More than 200 new sellers joined the Karigar programme and benefited from 100 per cent SoA (sell on Amazon) fee waiver, impacting lives of over 35,000 artisans and weavers, the company said in a statement. “We are humbled by…
New Delhi: The Bank expects its response to the lawsuit to be due in early 2021, HDFC Bank said in a regulatory filing. HDFC Bank was clarifying media reports related to filing of class action claims by certain US law firms against the Bank. “In this regard, we wish to inform you that the Bank is aware of a complaint that was recently filed against the Bank and its three employees in the United States. The lawsuit, which was filed by a single small security holder who seeks to represent a class of the Bank’s security holders, is based on…
New Delhi: The smaller businesses have reported more stress than the larger ones in the survey of over 600 companies conducted by CARE Ratings between August 25 and September 13. The economy is set to contract by over 10 per cent as per some estimates during 2020-21, which is bound to have an impact on businesses as well. The government has announced additional spends of under 2 per cent to help the economy, which has been called as too little by some quarters. “Majority of participants said the government has not done enough for the revival of their sector and…
New Delhi: According to the rating agency, the present FAME II incentive for electric PVs is restricted to the commercial taxi segment only which also highlights the government’s awareness that the attractiveness of EVs for personal car buyers will remain distant in the near to medium term. This apart, the EV vendor systems needs substantial investments to keep costs under check and reduce dependence on imported electronic systems. The agency said that that battery swapping will face strong resistance from automobile OEMs due to a possible impact on their product differentiation capabilities as well as pricing flexibility. Its acceptance therefore…
Shares of Route Mobile made a stellar debut on exchanges on Monday as they jumped nearly 105 per cent premium against its issue price of Rs 350. The Rs 600-crore IPO of Route Mobile was subscribed more than 74 times, mirroring huge investor appetite for the issue. At the S&P BSE, it got listed at Rs 708, reflecting a jump of 102.28 per cent from the issue price. It later rose to a high of Rs 735, registering a gain of 110 per cent. Similarly on the NSE, the IPO of the cloud communications service provider debuted at Rs 717,…
New Delhi: “The new and value-loaded ULIP helps customers plan and achieve their financial milestones as per the changing life-stages along with financial security for their families,” it said. The plan provides protection and wealth creation benefits from an early age of 91 days up to the age of 99 years by paying premiums either for a limited duration or once at the commencement of the plan. The plan has two variants Growth and Legacy. In the Growth variant, the customers have three policy term choices, ten, 15 or 20 years, and can pay premium once or for five, seven, ten,…
Mumbai: This service is being offered in Delhi-NCR Mumbai, Pune, Hyderabad and Bengaluru, it said. The company added that following the tenure of their subscription, customers can either choose to extend it or just return the vehicle. “Our new ‘electrifying subscription’ offer is designed with an aim to make EVs (electric vehicles) even more accessible to a rapidly growing base of future conscious citizens,” said Pankaj Jhunja, head (mobility services) at Tata Motors. He added that it is ideal for customers preferring ‘usership’ over ownership amid the rapidly growing phenomenon of shared economy. Offered in partnership with Orix Auto, this…
MUMBAI: The news of ‘fraud’ in banks in Indian stock markets caused sensation and the Sensex broke 812 points. 3.5 lakh crores of investors became clear in 1 stroke. At the end of trading, the Sensex has lost 812 points and closed at the level of 38,034.14. At the same time, the Nifty also lost 283 points and finally closed at 11222 level. The business saw heavy selling in every sector except the IT sector. TCS has been the top gainer today, while IndusInd Bank is the top loser. Talking about global signs, it has been very weak today. After…
Organizes a series of engaging virtual activities and sessions to spread awareness around the importance of nutrition, fitness and healthy living Hisar: In an endeavor to highlight the importance of nutrition for healthy living, Amway India, one of the country’s leading FMCG direct selling company, celebrated National Nutrition Week. The celebrations were in line with Prime Minister Narendra Modi’s recent announcement on observing September as the Nutrition month under the National Nutrition Mission and converting it into a people’s movement. The efforts are aimed towards promoting healthy living, encourage a balanced nutritional intake coupled with a regular fitness regime to…
New Delhi: Of the sanctioned amount, Rs 24,742 crore has been disbursed till September 16, Singh said in his written reply to a question. “As against Rs 90,000 crore of liquidity infusion package announced by the government, Rs 70,590 crore in loans has been sanctioned, out of which Rs 24,742 crore has already been disbursed/released till September 16,” he said. The package was announced by Union Finance Minister Nirmala Sitharaman in May as part of the ‘Atmanirbhar Bharat’ economic package, through Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) to enable the sector to maintain power supplies, since cash…
New Delhi: Finance Ministry sources said that GST Council, as per the GST Act, needs only 20 states to pass any resolution, in case voting is required on any issue. With 21 on board with the first option, this could well be considered for adoption by the Council. Among the 21 states/UTs opting for first option on GST compensation are: Andhra Pradesh, Arunachal Pradesh, Assam, Bihar, Goa, Gujarat, Haryana, Himachal Pradesh, Jammu & Kashmir, Karnataka, Madhya Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Odisha, Puducherry, Sikkim, Tripura, Uttarakhand and Uttar Pradesh. Manipur, the only state which had earlier chosen Option-2, later preferred…
New Delhi: Domestic airlines industry has been significantly impacted by the coronavirus pandemic and subsequent suspension of local and international flight services. Vistara’s Chief Executive Officer Leslie Thng told PTI that there have been no job cuts at the airline in the wake of the coronavirus pandemic. “There have been no job cuts at Vistara, and therefore, the staff strength remains the same as earlier – nearly 4,000 employees,” he said in an e-mail interview. Many airlines globally as well as some domestic carriers have resorted to salary cuts as well as layoffs and furloughs in efforts to reduce expenses…
Mumbai: He was speaking at the 36th Anniversary Global Awards by the Priyadarshini Academy. “While this historic crisis comes with a dire economic and social outlook, there are also lessons and opportunities. In the longer term, India must continue investment in health infrastructure and ensure continuity of regular health services, it will also have to cautiously adjust spending and attract industrial investment,” the WEF president said. The Academy honoured Brende along with Secretary-General of the Organisation for Economic Co-operation and Development (OECD) Jose Angel Gurria, and HUL Chairman and Managing Director Sanjiv Mehta. Speaking about awards, noted scientist Raghunath Mashelkar…
New Delhi: The Japanese company’s wholly-owned subsidiary Yamaha Motor India Sales, which has witnessed a fall of over 36 per cent in its domestic sales in January-August this year, opines that the pandemic is likely to change the practice of shared transportation as people will prioritise social distancing and personal hygiene. “Yamaha expects demand to gradually grow, although the total sales volume for the year 2020 will remain the lowest in a decade,” Yamaha Motor India Sales (YMIS) Senior Vice President Ravinder Singh told PTI in an interview. While the next few months will be tough, the market sentiment is…