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Browing Category

Business

Sensex regains footing, rallies 411 pts as bank stocks spurt

Mumbai, Dec. 27 (PTI): Markets snapped their three-day downward spiral to finish with smart gains on Friday as banking, finance and energy stocks saw robust buying amid supportive global cues. The 30-share BSE Sensex ended 411.38 points, or 1 per cen...

27 Dec 2019

India’s exports contract for fourth straight month in Nov to USD 25.98 bn

New Delhi, Dec. 13 (PTI): India’s exports contracted for the fourth month in a row in November, dipping 0.34 per cent to USD 25.98 billion, mainly on account of poor shipments of petroleum, gems & jewellery and leather products. Imports too...

22 Dec 2019

Govt’s stimulus report highlights FDI inflow, support to NBFCs

New Delhi, Dec. 13 (IANS): The Finance Ministry on Friday presented a status report on the impact of the recently announced stimulus measures, highlighting that inflow of foreign direct investment (FDI) reached a record level during the April-June pe...

22 Dec 2019

Centre seeks stakeholders’ inputs on boosting exports

New Delhi, Dec. 21 (IANS): Commerce & Industry Minister Piyush Goyal has held a mega meet on Friday with all Export Promotion Councils, Federation of Indian Export Organisation (FIEO) and Commodity Boards to discuss ways to boost exports, an offi...

21 Dec 2019

After onions, cooking oil gets costlier

New Delhi, Dec. 21 (IANS): After onion and garlic, prices of edible oil have registered a sharp rise due to costlier imports. Consumers will have to dig deeper into their pockets as the cooking oil prices may rise further, say oil industry experts. P...

21 Dec 2019

Sensex, Nifty end flat, Tata group stocks under pressure

Mumbai, Dec. 20 (IANS): Sensex and Nifty closed on a flat note on Friday after a stellar week which saw the benchmark indices touching fresh highs during the past four out of five sessions. Tata Group stocks, which came under selling pressure after t...

20 Dec 2019

Rupee settles 9 paise down at 71.12 against US dollar

Mumbai, Dec. 20 (PTI): The rupee weakened by 9 paise to close at 71.12 against the US dollar on Friday due to a steady rise in crude oil prices and strengthening of the greenback overseas. Forex traders said the rupee was weighed down against the US ...

20 Dec 2019

Govt to auction spectrum in Apr valued at INR 5.23 lakh cr.

New Delhi, Dec. 20 (IANS): The Digital Communication Commission (DCC), the highest policy making body of the Telecom Ministry on Friday approved the spectrum auctions to be held in March/April while making no change in the in the reserve pricing of t...

20 Dec 2019

Brickwork expects more special open market operations by RBI

Mumbai, Dec. 20 (IANS): Brickwork Ratings on Friday said it expects more special Open Market Operations (OMOs) by the Reserve Bank of India (RBI) aimed at lowering yields on long term bonds. The OMO are similar to the US Federal Reserve’s ̶...

20 Dec 2019

Govt. sets stiff GST mop-up target, industry fears grow

New Delhi, Dec. 20 (IANS): With most states suggesting plugging of loopholes and stopping leakage instead of raising rates for higher GST mop-up, trade and businesses fear excessive scrutiny of their books and harassment. The fear is also emanating f...

20 Dec 2019

7% drop in telecom revenues in 2018-19 — Govt.

New Delhi, Dec 12 (IANS): The revenue from the telecom sector to the government has seen a seven per cent drop in fiscal 2019, Rajya Sabha was told on Thursday. The Communications Ministry said in a written reply in the Rajya Sabha: “As per the...

19 Dec 2019

Tech Mahindra bags INR 500cr smart city project in Pune

Pune, Dec. 12 (IANS): IT major Tech Mahindra on Thursday said it has won a Rs 500 crore smart city project from Pune’s Pimpri Chinchwad Municipal Corporation (PCMC). Through this project, Tech Mahindra will engage with more than 15 lakh citizen...

19 Dec 2019

Govt. working on more measures to boost economy; income tax rate cut under consideration — FM

New Delhi, Dec 7 (PTI): Finance Minister Nirmala Sitharaman on Saturday said the government is working on more steps, including rationalisation of personal income tax rates, to revive the sagging economy. The GDP growth slowed down to more than six-y...

19 Dec 2019

States seek more funds in pre-budge meet

New Delhi, Dec. 18 (IANS): In a pre-budget meeting with Finance Minister Nirmala Sitharaman on Wednesday, states have asked for more funds from the Central government to expedite infrastructure projects, raise grants to local bodies and share the bur...

18 Dec 2019

RBI defends its nod for Chanda Kochhar’s sacking from ICICI Bank

Mumbai, Dec. 18 (PTI): The Reserve Bank of India (RBI) told the Bombay High Court on Wednesday that its decision to grant approval to ICICI Bank for termination of appointment of Chanda Kochhar as MD and CEO was fair and not arbitrary. The central ba...

18 Dec 2019

Onion prices hit new high amid disrupted arrivals

New Delhi, Dec. 17 (IANS): Onion prices have hit a new high in Delhi and elsewhere on Tuesday amid disrupted arrivals. Wholesale onion prices were quoted at INR 37.50-112.50 per kg, an all-time high at Azadpur mandi in the national capital. “If...

17 Dec 2019

Tariff hikes can double EBIDTA of telcos — Crisil

New Delhi, Dec. 10 (IANS): Tariff hikes can double EBITDA of telcos and sustainability of hikes and funding of adjusted gross revenue (AGR)-related dues are the key monitorables, said rating agency Crisil.The steep tariff hikes of up to 50% is being ...

10 Dec 2019

Onion prices remain high across major cities

New Delhi, Dec. 10 (PTI): For the second week in a row, onion prices on Tuesday stayed above the INR 100 per kg mark, as government efforts to cool the rates seem to be taking more time than expected. The rates were as high as INR 165 a kg in Panaji,...

10 Dec 2019

Onion prices shoot up to INR 165/kg

New Delhi, Dec. 6 (PTI): Showing no signs of cooling down, retail onion prices have continued to spiral, touching as high as INR 165/kg on Friday even as the government grapples to boost the supplies through imports. The government in Parliament info...

08 Dec 2019

CIC issues show-cause notice to RBI for casual approach to its notice

New Delhi, Dec. 5 (PTI): The Central Information Commission has issued a show-cause notice to the Reserve Bank of India for not appearing before it in a matter pertaining to disclosure of inspection reports of HDFC Bank, calling it “casual̶...

05 Dec 2019

Sensex slips as RBI surprises with status quo; bank stocks bear the brunt

Mumbai, Dec. 5 (PTI): Equity benchmarks closed lower in topsy-turvy trade on Thursday after the Reserve Bank unexpectedly left interest rates unchanged amid slowing growth. Citing prevailing inflation pressure and rising food prices, the six-member M...

05 Dec 2019

RBI to retain dovish bias going forward: Report

Singapore, Dec. 6 (PTI): The Reserve Bank of India is expected to retain a dovish bias going forward and its emphasis may switch towards ensuring that the aggressive rate cut this year gets transmitted to commercial lending rates, says a report. Afte...

05 Dec 2019

Vodafone Idea to shut if it doesn’t get relief: Birla

New Delhi, Dec. 6 (IANS): The country’s largest telecom operator will shut its business and move towards insolvency if it does not get any relief regarding the over INR 40,000 crore adjusted gross revenue-based (AGR) dues it has to pay the Depa...

05 Dec 2019

RBL Bank raises Rs 2,025 cr through QIP

New Delhi, Dec. 6 (PTI): RBL Bank on Friday said it has raised INR 2,025.27 crore from institutional investors through a qualified institutional placement offering (QIP) and will utilise the proceeds to fund business growth. In a statement RBL Bank s...

05 Dec 2019

Sensex, Nifty advance ahead of policy decision; ICICI surges over 4 pc

Mumbai, Dec. 4 (PTI): Market benchmark BSE Sensex on Wednesday closed higher by around 175 points in a volatile session, driven by buying in banking, auto and select IT stocks in the last hour of trade as investors bet on a further rate cut by the RB...

04 Dec 2019