Author: Finance Khabar
New Delhi: The new market entry will be led by an engaging marketing campaign in India and the UAE as MakeMyTrip partners with Royal Challengers Bangalore (RCB), Mumbai Indians (MI) and Chennai Super Kings (CSK), the company said in a statement “We are excited to take MakeMyTrip to the UAE and introduce travel offerings that are stamped with our understanding of evolving traveller needs that will serve the expatriate as well as Emirati population in the region. “As the travel industry gets back on the rails after pandemic-led disruption, we continue to believe in the long-term opportunity in travel and…
Chennai: In a statement issued here, Ashok Leyland said the order encompasses the company’s model Ecomet over the next 5-6 months. “Over the last few years, Ashok Leyland has made significant efforts to increase its market share in the ICV segment and our efforts have given rich dividends,” Anuj Kathuria, Chief Operating Officer, Ashok Leyland said.
New Delhi: An analysis of 92 gold jewellery retailers, accounting for 40 per cent of the sector’s revenue, showed that the number of new store additions is expected to reduce to almost by a third of the average between fiscals 2017 and 2020, it said. “Consequently, capital investments will be 70 per cent lower at Rs 650-700 crore this fiscal compared with the average of the past four fiscals,” the Crisil analysis said. “Cash accrual is expected to decline 40 per cent on-year, given an expected 35-40 per cent fall in sales volume for the industry – the steepest on-year…
Mumbai: HDFC Bank today announced the launch of Video KYC (Know Your Customer) facility. After successful completion of the pilot project, HDFC Bank has deployed consent-based Video KYC facility as an alternate method of establishing the prospective customer’s identity, during the account opening process in a safe and secure environment. The video KYC facility is a result of an Agile Pods comprising teams from Branch Banking, Digital Banking and Retail assets working together. At HDFC Bank, there are various Agile Pods working on new products and services for customers. This is in line with the One Bank vision of harnessing…
MUMBAI: After the US Federal Reserve said uncertainty about the return of the economy to the track, there was a sell-off in the domestic stock market on Thursday and the major stock index Sensex due to the breakdown of financial stocks. Fell over 200 points. The 30-share BSE Sensex was down 216.76 points, or 0.55 percent, to trade at 39,086.09, while the NSE Nifty fell 44 points or 0.38 percent to 11,560.55 points. ICICI Bank fell the most by one percent in the Sensex. Apart from this, HDFC Bank, PowerGrid, Bajaj Auto, Kotak Bank, Axis Bank and L&T were also…
New Delhi: No-frill carrier SpiceJet Limited on Tuesday posted a net loss of Rs 600.52 crore for the June quarter, owing to the suspension of flight operations due to the coronavirus-induced lockdown. The airline had reported a net profit of Rs 262.8 crore in the corresponding period of the previous financial year. Company’s operating revenue stood at Rs 521 crore in the first quarter of 2020-21, significantly lower as against Rs 3,002.8 crore a year ago. Similarly, its operating expenses were down to Rs 1,311.6 crore in June quarter, compared to Rs 2,886.7 crore in the year-ago period. SpiceJet Chairman…
New Delhi: Construction major Tata Projects has won the bid to build the new Parliament building here in the national capital. According to a company spokesperson: “We have emerged as the a ‘L1’ (lowest bidder) in the comprehensive bidding process and are first in line to be awarded this prestigious contract to construct the new building of the Parliament.” “Tata Projects is honoured to be associated with this project and to accelerate India’s development,” the spokesperson told IANS . As per the available information, Tata Project bid an amount of Rs 861.9 crore. Reportedly the second lowest bid was by…
Mumbai: Total tax collection of the Centre, including advance tax collection for the second quarter, fell 22.5 per cent to Rs 2,53,532.3 crore till September 15 of the current fiscal as compared to the year-ago period, according to an income tax department source. The source shared some details about the provisional data. During the same period ended September 15, 2019, total tax collection stood at Rs 3,27,320.2 crore, the income tax department source from Mumbai zone told PTI over phone on Wednesday. However, the source refused to share the advance tax numbers separately for the current quarter. The numbers are…
Bill Gates Sr., father of Microsoft co-founder Bill Gates, died at their beach home in Seattle. He was 94 years old. Giving this information, his family said that Alzheimer’s illness was the cause of his death. William Henry Gates II was born on 30 November 1925 in Bremerton, Washington. Bill Gates said in a tweet that his father was the real Bill Gates. They are everything they try to be and they will miss them every day. According to the New York Times, Gates Sr. was instrumental in establishing the world’s largest philanthropy Bill & Melinda Gates Foundation. Bill Gates…
Russia’s Sovereign Wealth Fund has agreed to sell 10 million doses of its Corona virus vaccine Sputnik-V to the Indian drug company Dr. Reddy’s Laboratories. The fund gave its information on Wednesday. Russia is intensifying plans to distribute its vaccine abroad. The deal comes after Russian Direct Investment Fund (RDIF) agreed with Indian manufacturers to produce 300 million doses in India, a major customer of Russian oil and weapons. The process will start as soon as the regulatory approval is received. Delivery to India could potentially begin in late 2020. CEO of Russian Direct Investment Fund, Kirill Dimitriv said that…
Featuring brand ambassador Bollywood actor Anil Kapoor, Malabar brings the unique virtual store launch concept to Bihar for the first timeThe store 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, will inaugurate its first store in Patna in Bihar through a unique virtual store launch event on September 19, 2020. Brand ambassador Bollywood actor Anil Kapoor and Malabar Group Chairman M P Ahammed will grace the first-of-its-kind virtual…
Domestic stock market started in the midst of mixed global cues, but later it rose well. The Nifty crossed the 11600 level in business. Both the Sensex and Nifty index closed up. At the end of trading, the Sensex has gained 259 points and closed at the level of 39302.85. At the same time, the Nifty has risen by 83 points and has closed at the level of 11605. In today’s business, there has been a lot of buying in auto and pharma stocks. However, there has been pressure on public sector banks. Mahindra and Mahindra and Bajaj Auto have…
Mumbai: The recovery of the economy reeling from the impact of Covid-19 pandemic will be gradual, RBI Governor Shaktikanta Das said on Wednesday. Addressing the FICCI National Executive Committee Meeting, the central bank chief said that the country is still reeling under the impact of Covid-19 and will gradually come back on normal growth path. He, however, said that things have considerably improved in the second quarter after adverse impact the pandemic had on economic activity in the first quarter. Citing World Bank assessment, Das said that recovery globally would take a longer route as it is not fully entrenched.…
Mumbai: The smartphone application processor (AP) market that declined 26 per cent in the second quarter this year is set to be on a growth trajectory from 2021 onwards as 5G adoption reaches emerging markets, according to a new report. A mobile application processor is a system on a chip (SoC) designed to support applications running in a mobile operating system environment. Qualcomm led the global AP market with 29 per cent market share in Q2 with a drop of 3 percentage points compared to last year owing to Huawei’s HiSilicon SOCs. HiSilicon’s shipments in China increased, leading to decline…
Mumbai: Reliance Industries shares have made history in Wednesday’s business. RIL’s market cap has crossed 16 lakh crore for the first time. In today’s trade, RIL shares rose around 1.5 per cent and reached 2369. This is a 52-week high for the stock. With this price, the company’s market cap has crossed 16 lac crores. Please tell that this is the first company in the country whose market cap is more than 10 lakh crores. RIL shares have gained 173 per cent since its March low. The Reliance Industries stock has gained more than 173 per cent in the last…
New Delhi: Government sources said that BORL became a subsidiary of BPCL in March this year and the next step now is to convert it into a 100 per cent subsidiary before government stake in the company is sold to a strategic partner. For this to happen, it is essential that BPCL buys out OQ’s stake in the refinery before its own sale process goes off the ground. This is important as BPCL’s valuation may be impacted if a joint venture remains in its fold even after new owners take control. BPCL and OQ were 50:26 joint venture partners in…
Mumbai: Central Bank of India with 4651 branches is giving relief to the loan holders during the Corona period by reducing their loan interest rates. This leading public sector bank has now announced a reduction of 5 bps in its loan rates. This will make the Central Bank’s loans even cheaper. In order to extend the benefit of the repo rate cut by the Reserve Bank of India to its customers, the Central Bank has been continuously making loans cheaper and since April 2020, the bank has reduced its benchmark loan rate to 90 bps point. After this deduction, the…
New Delhi: More than 1,600 Indian companies in the country received USD 1 billion foreign direct investment (FDI) from China during April 2016 to March 2020. This information has been given in the government data. The figure was given in a written reply in the Rajya Sabha on Tuesday. The government was questioned whether it was a fact that Indian companies, particularly start-ups, have been heavily invested by Chinese agencies. According to the data, more than 1,600 companies received FDI from China of 102.25 billion dollars ($ 1.02 billion) during the period April 2016 to March 2020. These companies were…
New Delhi: “Going forward, dispersed offices and flexible workplace policies around WFH will spur housing demand on city peripheries, beyond the city-centre hotspots. This will lead to higher demand for large township developments which, because of their massive size, have been developed on the peripheries,” Puri said. However, he noted that integrated townships account for a mere 2 per cent of all housing supply since 2010, so their numbers are currently inadequate to meet the coming demand. According to data from Anarock, the top seven cities have just 101 integrated township projects, launched since 2010 till date, with 3.16 lakh…
Mumbai: Domestic benchmark indices traded between a tight range for the majority of the trading session before swinging higher in the closing hours of trade. S&P BSE Sensex was up 287 points sitting above the 39,000 mark while the 50-stock Nifty closed comfortably with 11,524 points. Volatility slipped further to sit below the 21 levels. Bank stocks surged, helping the indices close higher. Midcap and small cap stocks continued to rally, beating the benchmarks yet again on Tuesday. With the retail inflation coming in at 6.69% yesterday the economic data was also favourable. Midcap, small cap rally continues: Once again…