Author: Finance Khabar
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…
New Delhi: In a written reply to a question in the Rajya Sabha, Thakur said the total corporate tax collection so far during this financial year is Rs 95,533 crore, while the total GST collection in the current financial year is Rs 3,59,112 crore. “The total non-tax revenue collected by the Central Government, so far, during this financial year is Rs 84,023.78 crore (Provisional),” he said. Thakur said the total market borrowings of the central government so far this financial year stands at Rs 7.06 lakh crore. Replying to a separate question, Thakur said the overall expenditure of Government of…
New Delhi: Minister of State for Corporate Affairs Anurag Singh Thakur said a total 320 posts of officers/staff have been created in the National Company Law Tribunal (NCLT).To a query on whether the government has any plans to identify NCLT benches specifically for matters related to the Insolvency and Bankruptcy Code (IBC), the minister replied in the negative. In a written reply to the Lok Sabha, he said as on July 31, 2020, a total 19,844 cases were pending before the NCLT, including 12,438 cases under the IBC.”e-court project is being implemented in all 16 benches of NCLT. So far, e-filing…
New Delhi: The number of Internet users in the country increased by 3.4 percent to 74.3 million in the quarter ended March 2020. As per the report released by the telecom regulator TRAI on the quarterly performance of the sector, Reliance Jio stood first with 52.3 per cent market share in the quarter ended March 2020, while Bharti Airtel stood second with 23.6 per cent share. Vodafone Idea stood at the third position during the period under review. It had a market share of 18.7 percent based on its number of internet subscribers. According to the Telecom Regulatory Authority of…
New Delhi: Opposition parties led by the Congress criticised the farm bills tabled in Rajya Sabha on Sunday, saying they will not sign on the “death warrant” of farmers Rajya Sabha took up the discussion on The Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020 and The Farmers (Empowerment and Protection) Agreement of Price Assurance and Farm Services Bill that have already been passed by Lok Sabha. K K Ragesh (CPI-M), Derek O’Brien (TMC), Trichi Siva (DMK) and K C Venugopal (Congress) moved resolutions for sending the two bills to a select committee of the House for consideration…
Brand ambassador Bollywood actor Anil Kapoor inaugurate the store through a spectacular virtual eventThe gala inauguration marks Malabar Gold & Diamonds’ foray into Patna in BiharThe store launch is a part of global expansion plan of the Group Patna: Malabar Gold & Diamonds, one of the largest gold and diamond retail chains in the country, inaugurated its first store in Patna in Bihar through a lively virtual store launch. The store was unveiled by the brand ambassador Bollywood actor Anil Kapoor. Malabar Group Chairman M P Ahammed , O Asher, Managing Director, India Operations, Malabar Gold and Diamonds, Shamlal Ahammed,…
New Delhi: “MTNL has submitted a set of assets for monetization through the DIPAM Framework. The assets include land, staff quarters, and telephone exchange in Mumbai,” Thakur said in a written reply to a question in the Lok Sabha. He said no property in Delhi is presently under monetization through the Department of Investment and Public Asset Management Framework (DIPAM) framework The details of properties in Mumbai which are presently under monetization are three land parcels, two staff quarters, and a telephone exchange along with a staff quarter. Thakur said since the asset monetization process is a complex one involving…
Toronto: A Canadian cleantech company, CarbonCure Technologies, that develops carbon dioxide removal (CDR) solutions for the concrete industry has received investment from leading technology and property developers. Amazon’s Climate Pledge Fund and Breakthrough Energy Ventures (BEV) co-led the investment syndicate comprising Microsoft, BDC Capital, 2150, Thistledown Foundation, Taronga Group and GreenSoil Investments, CarbonCure said on Thursday. The investment represents a commitment to tackling the carbon footprint of concrete, the most abundant human-made material in the world. Cement — the key ingredient that gives concrete its strength — is also one of the largest emitters of carbon dioxide in the built…
New Delhi: In a written reply to the Lok Sabha, Minister of State for Finance Anurag Singh Thakur said net direct tax collection was Rs 2,79,711 crore in April-August 2019, compared to Rs 1,92,718 crore in April-August 2020. The net indirect tax collection in April-August 2019 was Rs 3,85,949 crore, as against Rs 3,42,591 crore in April-August 2020. During April-August, the Centre’s Goods and Services Tax (GST) collection stood at over Rs 1.81 lakh crore. The Budget had estimated Centre’s GST collection for full fiscal at Rs 6,90,500 crore. In 2019-20, the Centre’s actual GST revenue stood at Rs 5,98,825…
New Delhi: The country’s total external debt rose 2.8 percent to $ 558.5 billion by the end of March. In the report released on Saturday by the Finance Ministry, the total external debt has increased due to increasing commercial credit. The total external debt at the end of March 2019 was $ 543 billion. The report stated that at the end of March 2020, the foreign exchange reserves ratio on external debt was 85.5 percent. It was 76 percent in the year-ago period. The ‘External Debt of India: A Status Report: 2019-20’ said that external debt to gross domestic product…
Fitch Solutions has revised downward its forecast for fuel demand contraction in India to 11.5 per cent in 2020 in line with further deterioration in the country’s economic outlook. Its economists forecast India’s real GDP to contract by 8.6 per cent in the fiscal year 2020-21 (April 2020 to March 2021), down from -4.5 per cent previously. “Demand weakness is spread across the board, with both consumer and industrial fuels set for the steep decline,” Fitch Solutions said in a note. “We have made a further downward revision to our India refined fuels demand forecast for 2020, from -9.4 per…