New Delhi, Apr. April 16 (IANS) South Korea is keen on exploring investment opportunities in North Eastern state of Sikkim in multiple sectors including renewable energy, pharmaceutical, food processing, tourism. In the first-ever visit to the North-east region of India, a high-level delegation of senior officials of the Embassy of the Republic of Korea, Korean […]

New Delhi, April 16 (IANS) Airline major IndiGo waived-off change fees on new bookings made from April 17, 2021 till April 30, 2021. Besides, the airline announced that passengers can now do unlimited changes for new bookings made till April 30, 2021 on regular fares under this offer. “This offer is in line with our […]

New Delhi, April 16 (IANS) In a major boost to the Central Bureau of Investigation’s (CBI) probe into the Rs 13,500 crore Punjab National Bank (PNB) fraud case, the UK Home Secretary has approved the extradition request of fugitive businessman Nirav Modi, sources said on Friday. “The UK Home Secretary has approved the extradition request […]

Hyderabad, April 16 (IANS) French aerospace and defence multinational Safran plans to inaugurate its expanded aircraft engines facility in Hyderabad in the third quarter of 2021. A leadership team headed by Safran Chairman Ross McInnes called on Telangana’s Industry Minister K.T. Rama Rao here on Friday. The team also included Safran’s Senior EVP International & […]

New Delhi, April 16 (IANS) Forecast of a healthy Monsoon season cheered India’s key benchmark equity indices which trade in the green during Friday’s late afternoon session. Accordingly, volatility was observed as rising Covid cases capped any major recovery attempts on the back healthy Q4FY21 results. However, a bout of late session buying spree pushed […]

By Subhash NarayanNew Delhi, April 16 (IANS) The Centre proposes to prod states to initiate asset monetisation of state public sector enterprises (PSEs) by setting up specialised asset management (AMC) and asset reconstruction companies (ARC). The idea is to expand the scope of government’s asset monetisation exercise and enable state entities to unlock value for […]

Mumbai, April 16 (IANS) The key Indian equity indices traded in the green on Friday, with the BSE Sensex trading above the 49,000 mark. Around 10.35 a.m., Sensex was trading at 49,026.93, higher by 223.25 points or 0.46 per cent from its previous close of 48,803.68. It opened at 48,935.74 and touched an intra-day high […]

New Delhi, April 16 (IANS) Fuel prices in the country remained unchanged on Friday a day after oil marketing companies decided to cut the retail price to pass the benefit of softer global oil prices to the consumers. Accordingly, pump price of petrol and diesel remained at Thursday’s level of Rs 90.40 a litre and […]

Chennai, April 16 (IANS) The new fiscal year 2020-21 has started for about 1.14 lakh employees of Life Insurance Corporation of India (LIC) on a happy note with over 25 per cent hike in their pay packets, said a top union leader. The Central government on Thursday notified the revised pay packets for LIC employees. […]

New Delhi/New York, April 15 (IANS) In a global restructuring to allocate resources in markets with scale, Citigroup will exit consumer banking operations in India as well as 12 other countries. The multinational investment bank headquartered in New York on Thursday announced strategic actions in the global consumer banking segment as part of an ongoing […]

New Delhi, April 15 (IANS) Union Road Transport and Highways Minister Nitin Gadkari on Thursday said that he has invited electric vehicle (EV) major Tesla Inc to start manufacturing EVs in India. In his address at The Raisina Dialogue 2021, he said that it is golden opportunity for the company to start manufacturing in India. […]

New Delhi, April 15 (IANS) E-commerce major Amazon on Thursday announced a $250 million fund — Amazon Smbhav Venture Fund — to invest in startups and entrepreneurs focusing on technology innovations in SMB digitisation, agriculture and healthcare. The fund was announced in the opening session of Amazon India’s flagship event Smbhav. A company said that […]

New Delhi, April 15 (IANS) Improving collection efficiency and growth pick-up in H2FY21 is expected to help the MFI industry’s long term prospects, ratings agency ICRA said on Thursday. However, incremental covid-19 related disruptions remains a concern. “The overall long-term growth outlook for domestic microfinance industry, including microfinance institutions and micro finance focused small finance […]

Mumbai, April 15 (IANS) Bucking the pandemic private equity (PE) investments into the India real estate sector rose around 19 per cent in FY 2020-21 to over $6.27 billion, according to an Anarock report. During the previous financial year, PE investments into the realty sector stood at $5.8 billion. Indian real estate recorded its highest-ever […]

Mumbai, April 15 (IANS) The key Indian equity indices reversed their initial gains on Thursday to trade in the negative territory. Around 10.19 a.m., Sensex was trading at 48,290.94, lower by 253.12 points or 0.52 per cent from its previous close of 48,544.06. It opened at 48,512.77 and has so far touched an intraday high […]

Bengaluru, April 15 (IANS) Global software major Infosys on Wednesday said it would buy back shares amounting to Rs 9,200 crore ($1.23 billion) from the open market route. “As part of capital allocation, the board of directors approved buyback of shares equity shares from the open market route through the stock exchanges amounting to Rs […]

New Delhi, April 14 (IANS) Domestic retail-assets under management (AUM) are facing asset quality headwinds which will moderate growth in FY21, ratings agency ICRA said. These headwinds are also likely to affect NBFCs performance in FY22, following resurgence of the Covid-19 pandemic. “Asset quality pressures because of the Covid-19-related business disruptions unfolded partly in Q3 […]

New Delhi, April 14 (IANS) The recent spike in Covid-19 cases, along with re-iimposition of fresh restrictions, will adversely impact air passenger traffic in April 2021, ratings agency ICRA said. Post resumption of airport operations from May 25, 2020, the ramp up in domestic passenger traffic had been steadily reaching 64 per cent of previous […]

New Delhi, April 14 (IANS) The Air India pilots union – ICPA – has threatened industrial action if pay cuts introduced due to the pandemic are not reversed. In a letter to Air India CMD Rajiv Bansal, ICPA said that “great financial injustice” is being done to Air India pilots. “Our pilots incur heavy financial […]

New Delhi, April 14 (IANS) Premium tea company Vahdam India registered a 110 per cent growth in its net revenue for FY 2020-21 at Rs 159 crore. In FY20, the company had reported a net revenue of Rs 75 crore. In a statement, Vahdam India said that it plans to achieve Rs 500 crore revenue […]

New Delhi, April 14 (IANS) The revenue of shopping malls is foreseen growing by 45-55 per cent this fiscal after an expected 45 per cent decline in fiscal 2021, Crisil Ratings said. Accordingly, the expected growth will still be 15-20 per cent below the pre-pandemic levels because of continuing waivers for some under-performing retail segments […]

New Delhi, April 14 (IANS) Broadband network provider Excitel has expanded its fibre broadband network and launched the services in 10 more cities during January-March. Nizamabad and Khammam in Telangana, Rawatsar in Rajasthan, Kakinada and Bhimavara in Andhra Pradesh, Farrukhabad, Padrauna, Akbarpur, and Sonbhadra in Uttar Pradesh and Mangaluru are the latest cities where the […]

New Delhi, April 14 (IANS) The government’s faceless tax assessment scheme will switch back to the traditional physical mode, at least for large taxpayers, as the department is not getting adequate responses from assessees on its online communication and notices issued electronically. The Income Tax Department has issued over 1.2 lakh tax orders under the […]

Mumbai, April 14 (IANS) Assets under management (AUM) of the mutual fund industry witnessed a growth of 41 per cent in the last financial year to touch a new high of Rs 31.4 lakh crore. The growth was primarily led by an increase in AUM of equity funds (Rs 4.09 lakh crore), income funds (Rs […]

New Delhi, April 14 (IANS) With the aim to augment its sustainability initiatives, The Oberoi Group has signed a Memorandum of Understanding (MoU) with Energy Efficiency Private Limited (EESL), a joint venture of 4 PSU’s under the Ministry of Power. EESL through its Building Energy Efficiency Program (BEEP) will assist The Oberoi Group in implementing […]

Chennai, April 14 (IANS) India’s automobile tyre major Apollo Tyres Ltd will ship its commercial vehicle tyres for the US and Canadian markets out of its Chennai and Hungary plants. Apollo Tyres will sell the truck and bus tyres in the US and Canada under the Apollo brand. The company is already present in the […]

New York, April 14 (IANS) Variants of the novel coronavirus are the biggest risk for the US economic recovery, Minneapolis Federal Reserve Bank President Neel Kashkari has said. “The biggest risks that I see to the recovery are these variants,” Kashkari told the Economic Club of New York, mentioning one variant of the virus which […]

New Delhi, April 13 (IANS) The Indian Commercial Pilots’ Association (ICPA) has sought temporary suspension of pre-flight breath analyser test to curb the transmission of coronavirus amid the rising number cases in the country on a daily basis. In a letter to the Directorate General for Civil Aviation (DGCA), the association has also said that […]

New Delhi, April 13 (IANS) The restrictions and partial lockdowns in several states and cities amid rising Covid-19 cases are likely to impact economic activities in the current quarter (April-June), according to a Goldman Sachs report. It said that the containment restrictions are likely to be more targeted with impact on specific services such as […]

Chennai, April 13 (IANS) Chennai Financial Markets and Accountability (CFMA), an investor protection body, on Tuesday raised serious concern about the balance repayment of over Rs 14,000 crore to be made by Franklin Templeton Mutual Fund (FTMF) to its three lakh unit-holders in the six shut debt schemes. “FTMF has paid Rs 9,122 crore and […]

By Rohit VaidNew Delhi, April 13 (IANS) Breakfast cereal category major Kellogg India is set to expand its portfolio with more Indianised products which are suited to local palates. Last year, the company launched its first ever Indian breakfast product Kellogg’s Upma for which it received a healthy response. The move to introduce Kellogg’s Upma […]

Secunderabad, April 13 (IANS) For the first time, mangoes from Telangana are being transported to Delhi by Kisan Rail. On Tuesday, a total of 476 tons of mangoes were loaded in 20 parcel van units from Lingampet Jagityal for dispatch to Adarsh Nagar, New Delhi. The Jagityal area in Telangana is well known for the […]

Chennai, April 13 (IANS) India’s Elgi Equipments Ltd on Tuesday said that its European subsidiary was privileged to support the Italian Red Cross with an urgent compress air requirement. According to Elgi Equipments, its European arm, ELGi Europe when approached by Red Cross responded comprehensively with a charitable contribution of an air compressor package one […]

New Delhi, April 13 (IANS) Bharat Petroleum Corporation Ltd. (BPCL) and Accenture are collaborating to transform India’s second largest oil and gas company by digitally reimagining its extensive sales and distribution network. Accenture will use its capabilities in data, artificial intelligence (AI) and cloud technologies to build, design and implement a digital platform, called IRIS. […]

Chennai, April 13 (IANS) India’s insurance sector regulator has levied a penalty of Rs 17 lakh on private non-life insurer Future Generali India Insurance Ltd for buddling add-on covers on its motor insurance policies without the policyholder’s as well as its own consent. The Insurance Regulatory and Development Authority of India (IRDAI) had also issued […]

New Delhi, April 12 (IANS) Bharti group-backed Low Earth Orbit (LEO) satellite network OneWeb has announced that it has signed a Memorandum of Understanding (MoU) with the Government of Kazakhstan and local players for satellite connectivity in the country. A company statement said that the MoU develops OneWeb’s partnership with the Government of Kazakhstan which […]

New Delhi, April 12 (IANS) Confederation of All India Traders (CAIT) General Secretary Praveen Khandelwal, in a counter to Gautam Adani, has disapproved of the Adani Group joining hands with Flipkart, “killers of small businesses”. Replying to Adani, Chairman, Adani Group on Twitter, Khandelwal said: “Regrets. It’s the same #flipkart which is indulging in flouting […]

Mumbai, April 12 (IANS) Rising Covid cases along with movement restrictions and fears of another potential lockdown spooked investors leading to the biggest sell-off of 2021. Accordingly, the new cases count has crossed 1.5 lakh for the first time on April 11. This spooked investors and led the S&P BSE Sensex and NSE Nifty50 to […]

New Delhi, April 12 (IANS) Amid the rising number of Covid cases in the country, the Centre has barred meals on flights with less than 2-hour duration. Further, in terms of longer flights, the servicing of inflight meals would have to be staggered among the adjacent seats as far as possible, according to an office […]

New Delhi, April 12 (IANS) A new report published by Media Partners Asia (MPA) indicates that India’s pay-TV industry will grow at 7 per cent CAGR between 2020-25 as total industry revenues, including subscription and advertising, reach $12.3 billion by 2025. The report, entitled India Pay-TV Distribution 2021, predicts that more than 96 per cent […]

Mumbai, April 12 (IANS) The key Indian equity indices traded deep in the red on Monday morning with the BSE Sensex dropping around 1,100 points amid resurgent Covid cases across the country and concerns of localised lockdowns. An across-the-board selloff was led by finance, banking, auto and metal stocks. Around 10 a.m., Sensex was trading […]

Bengaluru, April 11 (IANS) Global software major Infosys announced on Sunday that it is planning to buy back more shares again with a proposal in this regard on the agenda at its board meeting on April 14. “The board will consider a proposal for buyback of fully paid-up equity shares at its meeting on April […]

New Delhi, April 11 (IANS) The investors of the six shut schemes of Franklin Templeton Mutual Fund are set to receive Rs 2,962 crore in the coming week. This would be the second tranche of disbursement to the investors after the distribution of Rs 9,122 crore across five schemes in February. “We are pleased to […]

New Delhi, April 10 (IANS) Cyclicals stocks are expected to drive 4QFY21 earnings even as rising Covid-19 cases has potential to emerge as a headwind, MOFSL said. “We expect another strong quarter, aided by a deflated base of 4QFY20 and healthy demand recovery for the large part of 4QFY21 – as attested by high-frequency indicators,” […]

San Francisco, April 10 (IANS) The next-gen iPhone 13 Pro lineup will reportedly come with 120Hz ProMotion display for the first time. According to AppleInsider, low-temperature polycrystalline oxide (LTPO) displays have been rumoured for the iPhone for about two years. However, the report claims that the displays will finally arrive on the iPhone, granting the […]

New Delhi, April 10 (IANS) Strong acceptance of e-commerce and digitisation is expected to accelerate the growth of India’s auto sector, advisory firm Grant Thornton Bharat said. Accordingly, India’s automobile market is estimated to grow more than ‘2.3X’ from $222 billion currently to $512 billion by 2026. Notably, the analysis by Allied Market Research, Market […]

Chennai, April 10 (IANS) International Finance Corporation (IFC) plans to invest $100 million in secured debt of Hero Fincorp Ltd belong to the Hero Group. Hero Fincorp is primarily into financing of two-wheeler purchases, loans to micro, small and medium enterprises (MSME), personal loans, used car purchase loans and corporate loans, IFC said. According to […]

Patna, April 10 (IANS) After Purnea, Power Finance Corporation (PFC) in association with South Bihar Power Distribution Company Ltd has commissioned a 2X10 MVA GIS Sub-station at Bihar’s Bhagalpur town on Friday. The GIS sub-station is a part of Integrated Power Development Scheme (IPDS) of the Central government to celebrate 75 years of independence. SS […]

New Delhi, April 9 (IANS) In a paradox of sorts, tax collections have significantly improved in the past few months despite the ongoing Covid-19 pandemic and its impact on the economy. Experts said the reasons for the surging tax collections have been a combination of improving economic activities and coercive actions by the authorities. In […]

By Rohit VaidNew Delhi, April 9 (IANS) India’s economy is better prepared to handle any economic fallout emanating from the resurgence of Covid-19 cases, as the government, financial institutions and the industry have gained valuable experience of operating in the hard environment. Accordingly, industry watchers have cited accelerated vaccination drive along with massive adoption of […]

New Delhi, April 9 (IANS) SpiceJet’s dedicated cargo arm SpiceXpress launched scheduled cargo flights connecting Mumbai and Delhi with Bangkok, the company said on Friday. Besides Bangkok, SpiceJet operates scheduled cargo flights to Singapore, Hong Kong and Bangladesh. According to the company, the airline has deployed its Boeing 737-800F aircraft on these routes. “SpiceJet’s scheduled […]

Bengaluru, April 9 (IANS) Manipal Health Enterprises Pvt Ltd (Manipal Hospitals) on Friday announced that it has entered into a definitive agreement to divest its hospital business at Klang, Malaysia to healthcare provider Ramsay Sime Darby Health Care (RSDH). In a statement, Manipal Hospitals said that the transfer of ownership shall take place post completion […]

Mumbai, April 9 (IANS) The key Indian equity indices traded marginally higher on Friday morning amid largely choppy trade session. At around 10.35 a.m., Sensex was trading at 49,860.96, higher by 114.75 points or 0.23 per cent from its previous close of 49,746.21. It opened at 49,743.39 and has so far touched an intra-day high […]

New Delhi, April 8 (IANS) A spurt in volumes on a low base, coupled with improvement in realisations riding on higher commodity prices, are expected to lift corporate revenue by 15-17 per cent year-on-year to Rs 6.9 lakh crore in the fourth quarter of fiscal 2021, a Crisil Research report said. As per the estimates, […]

New Delhi, April 8 (IANS) The promoter group of Reliance Industries Limited (RIL) has informed the company that there has been no violation of SEBI Takeover Regulations and it has complied with the applicable laws. The RIL promoter group has also said that an appeal will be referred to the Securities Appellate Tribunal and it […]

By Rohit VaidNew Delhi, April 8 (IANS) India’s civil aviation regulator has denied permission to a foreign air carrier to operate or overfly Boeing 737Max in the country. According to the chief of the Directorate General of Civil Aviation (DGCA), no foreign air carrier can operate or overfly the aircraft in India till regulatory clearances […]

New Delhi, April 8 (IANS) Equity-linked mutual fund schemes saw a net inflows of over Rs 9,115 crore in March. As per the data furnished by the Association of Mutual Funds in India (AMFI) on Thursday, the net inflows stood at Rs 9,115.12 crore. In February, the equity-linked mutual fund schemes’ net outflow stood at […]

Mumbai, April 8 (IANS) As the resurgent Covid cases raise concerns of impact on economic recovery, key Indian equity indices shed their major initial gains to end marginally higher on Thursday. Noting that equity markets gained for the third day in a row, Siddhartha Khemka, Head of Retail Research, Motilal Oswal Financial Services Ltd, said […]

New Delhi, April 8 (IANS) Rising Covid cases are expected dampen the securitisation market, affecting fund-raising for NBFCs in the near term, ratings agency ICRA said. “Despite the healthy activity seen in the securitisation market in Q4FY2021, the rising Covid-19 cases may again create uncertainty among the investors,” Abhishek Dafria, Vice President and Head, Structured […]

New Delhi, April 8 (IANS) To enable dialogue around women’s issues, Vestige, India’s only home-grown direct selling company to feature in the top 30 companies of the world in the DSN Global 100 Awards list, with a vast portfolio in health, wellness and hygiene products, announced a year-long campaign called ‘Let’s Talk. Period’. The ‘Let’s […]

New Delhi, April 8 (IANS) Fuel prices in the country remained unchanged on Thursday with oil marketing companies continuing on the pause mode and keeping petrol and diesel prices static for the ninth consecutive day. Accordingly, pump price of petrol and diesel remained at previous days level of Rs 90.56 and Rs 80.87 a litre […]

Chennai, April 8 (IANS) Indian non-banking finance companies (NBFC) face asset quality and liquidity risks owing to second wave of Covid-19 pandemic, said credit rating agency Fitch Ratings. Fitch on Thursday said NBFCs will face increased challenges if the restrictions to contain the pandemic are expanded or prolonged which in turn leads to economic and […]

Chennai, April 8 (IANS) Commercial vehicles major Ashok Leyland Ltd. announced floating of two subsidiaries to make electric vehicles (EV) and the other to offer mobility as a service. In a statement issued late Wednesday Ashok Leyland part of the Hinduja group said its UK based EV-maker Switch Mobility Ltd, making buses and vans, will […]

New Delhi, April 7 (IANS) Resurgence of Covid-19 cases, along with high inflationary pressure is likely to subdue the economic recovery process, fear industry insiders. Besides, economy watchers cite partial restrictions as well as localised lockdowns as real “demand killers”. However, the shock of the initial lockdown in 2020 is not expected to be repeated […]

Thiruvananthapuram, April 7 (IANS) Kerala Financial Corporation (KFC), the state’s own financial institution, recorded an all-time high portfolio of Rs 4,700 crore for the financial year ended March 31, 2021 (FY 21). The provisional figures that have come out show that its business grew by Rs 1,349 crore as compared to FY 20. Likewise, its […]

By Rohit VaidNew Delhi, April 7 (IANS) Automobile major Tata Motors plans to foray into CNG fuelled passenger vehicle segment in FY22. Accordingly, few of the company’s models will be offered with a factory fitted CNG kit. At present, Tata Motors provides an option to get the CNG kits fitted in some of its PVs […]

Mumbai, April 7 (IANS) In a major boost to operations of the Payments Banks, the Reserve Bank of India on Wednesday doubled the limit of maximum balance that an individual customer can hold with them. Accordingly, Payments Banks can now hold a maximum balance of Rs 2 lakh per individual customers at the end of […]

New Delhi, April 7 (IANS) Vedanta Aluminium & Power Business, India’s largest producer of the aluminium and its value-added products, is fostering hundreds of MSMEs in remote rural areas with its innovative ‘waste to wealth’ programmes. Waste to wealth projects form a key pillar of Vedanta’s sustainability agenda that is centred around ‘Zero Harm, Zero […]

Mumbai, April 7 (IANS) The key Indian equity indices traded in the green on Wednesday morning ahead of the Reserve Bank of India’s monetary policy announcement. At 10 a.m., the central bank is scheduled to make the announcement and the monetary policy committee (MPC) is expected to maintain the key lending rates due to inflationary […]

Mumbai, April 6 (IANS) States and Union Territories are likely to borrow Rs 1.78 lakh crore in the April-June quarter 2021. In a statement on Tuesday, the RBI said: “The Reserve Bank of India, in consultation with the state governments/Union Territories (UTs), announces that the quantum of total market borrowings by the state governments/UTs for […]

Tel Aviv, April 6 (IANS) UAE-based Etihad Airways on Tuesday launched regular flight service between Abu Dhabi and Tel Aviv. The service comes after Israel was added to Abu Dhabi’s ‘green list’, giving quarantine-free travel for visitors arriving in Abu Dhabi. “The launch of scheduled operations comes as the next historic step in developing diplomatic, […]

Chandigarh, April 6 (IANS) In view of the increasing demand of warehousing, Haryana Chief Minister Manohar Lal Khattar on Tuesday approved the allotment of 140 acres in Manesar to Flipkart for setting up its largest fulfilling centre in Asia. The approval was granted at the meeting of the Haryana Enterprise Promotion Board presided over by […]

New Delhi, April 6 (IANS) Resurgence of Covid infections along with re-imposition of partial travel restrictions in some major states has triggered a clamour among a section of airlines for reduction of flight capacity. Accordingly, industry insiders contend that rising cases have severely impacted demand leading to cancellations. Notably, the Centre till now has allowed […]

Mumbai, April 6 (IANS) As the Indian equity market surged to new highs in just-ended financial year 2020-21, a look at the market trend shows that the robust performance of stocks took place on a rotational basis among the sectors during the year. A report by IDFC Mutual Fund showed that sectoral rotation took place […]

New Delhi, April 6 (IANS) Fuel prices in the country remained unchanged on Tuesday with oil marketing companies continuing on the pause mode and keeping petrol and diesel prices unchanged for seven consecutive day. Accordingly, pump price of petrol and diesel remained at previous days level of Rs 90.56 and Rs 80.87 a litre respectively […]

Chennai, April 6 (IANS) Pharma major Glenmark Pharmaceuticals Ltd will be utilising the $40 million loan from International Finance Corporation (IFC) to refinance existing debt and for capital expenditure. Glenmark is having a good presence in generics, over the counter and specialty drugs. The IFC has committed an unsecured loan of $40 million to the […]

Mumbai, April 6 (IANS) The key Indian equity indices traded in the positive territory on Tuesday morning with the BSE Sensex trading 250 points higher. Healthy buying was witnessed in metal, healthcare and auto stocks. Around 10 a.m., Sensex was trading at 49,409.77, higher by 250.45 points or 0.51 per cent from its previous close […]

Bengaluru, April 6 (IANS) Karnataka has assured support to the US-based Triton Electric to make electric vehicles (EVs), including cars, in the state, an official said on Monday. “In a virtual meeting, Chief Minister B.S. Yediyurappa assured the state government’s support to Triton founder-chief executive Himanshu Patel for making EVs at Ramanagara near Bengaluru,” said […]

Bengaluru, April 6 (IANS) Iron ore miners have urged the Karnataka government to remove the trade barriers, which are preventing them from doing business and export the raw material, an industry body official said on Monday. “The state government should file an affidavit in the Supreme Court to lift the ban on exports of iron […]

New Delhi, April 5 (IANS) Contributions made by home-owners of a cooperative housing society (CHS) towards a sinking fund meant for future upkeep of the society will be subject to the goods and services tax (GST). The Karnataka Authority for Advance Rulings (AAR) has held that such contribution towards the sinking fund (also termed as […]

Mumbai, April 5 (IANS) The Finance Industry Development Council (FIDC) has requested the Maharashtra government to allow partial functioning of RBI-approved non-banking financial companies (NBFCs) amid the restrictions imposed to tackle the Covid surge. In a letter to the state Chief Secretary, the industry body said that a large number of deposit holders and debenture […]

New Delhi, April 5 (IANS) The economic impact of Covid-19’s second wave has remained minimal so far with only localised restrictions re-imposed, said Crisil Research. “Few countries have escaped a second wave of the Covid-19 pandemic and it is India’s turn now, with daily cases crossing the previous peak of September 2020. And this wave […]

New Delhi, April 5 (IANS) As the country witnesses a rapid resurgence of coronavirus cases, a Finance Ministry report has exuded confidence in the Indian economy and termed the economic recovery as resilient citing improvement in high frequency indicators. The Monthly Economic Review for March 2021 released by the Department of Economic Affairs (DEA) said […]

Mumbai, April 5 (IANS) The key Indian equity indices fell on Monday morning with heavy selling in banking, finance and auto stocks. The night curfew and weekend lockdown announced in Maharashtra amid the rising number of Covid cases has weighed on the investor sentiments, analysts said. Around 10.15 a.m., Sensex was trading at 48,709.84, lower […]

New Delhi, April 4 (IANS) As economic activities improve, the PHD Chamber of Commerce and Industry has suggested that there is a need to boost household consumption and business investment for increased aggregate demand. “Going forward, there is a need to further fuel the drivers of household consumption and business investment for increased aggregate demand, […]

Mumbai, April 4 (IANS) Metal stocks turned out to give the best returns in the pandemic-struck FY 2020-21. Analysts now feel the bull run is likely to continue with a pricing uptrend in the segment and increasing demand in the segment. The metals and mining sector also saw a sharp increase in commodity prices and […]

Chandigarh, April 4 (IANS) Punjab Chief Minister Amarinder Singh has written to the Union Minister for Consumer Affairs, Food and Public Distribution, seeking rural development fund (RDF) at the rate of three per cent, i.e., Rs 54.64 per quintal for 2020-21, instead of one per cent as per the revised provisional cost sheet issued by […]

Hyderabad, April 4 (IANS) Telangana agriculture department has signed an agreement with Wadhwani Institute of Artificial Institute (Wadhwani AI) to deploy solutions for the benefit of cotton farmers on Saturday. “Wadhwani AI has developed an AI solution that equips smallholder cotton farmers with scientific knowledge of an agriculture expert with the help of a simple […]

Mumbai, April 3 (IANS) Vaccination drive along with earnings growth will determine India’s stock markets’ trajectory in FY22, said Motilal Oswal Financial Services Ltd. (MOFSL). “As we step into FY22, two things will drive the markets from hereon, in our view. Given the recent resurgence in Covid-19 cases, the pace of vaccination will assume crucial […]

New Delhi, April 3 (IANS) Diversified conglomerate GMR Group has launched a new business vertical – GMR Innovex – to support StartUps as well as innovations in aviation and other fields. “GMR Innovex will operate on an ‘Open Innovation’ model, acting as an ‘Innovation Exchange’ to partner with startups, corporates, innovation platforms, research institutions and […]

Mumbai, April 3 (IANS) After record-high active client additions and average daily turnover (ADTO) in a pandemic-marred fiscal, brokerages will continue to see positive revenue growth in fiscal 2022. Nevertheless, the growth will be muted. Crisil Ratings estimates broking revenue to have grown by 65-70 per cent in fiscal 2021 as against 7 per cent […]

Mumbai, April 2 (IANS) As the Indian stock market surged to new highs in FY 2020-21 amid a bull run, the top gainers in the sectoral space were metals, auto and technology. All sectors delivered positive returns in the last financial year. A report by Motilal Oswal Financial Services said that the theme of FY21 […]

Mumbai, April 1 (IANS) Housing Development Finance Corporation Ltd (HDFC) has increased interest rates of its various fixed deposit products with different maturities by up to 25 basis points (bps). The change came into effect on March 30. The housing finance major is offering an annual interest rate of 6.2 per cent on special fixed […]

Mumbai, April 1 (IANS) The Indian stock market started the financial year 2021-22 on a high, tracking gains in the global markets. Devarsh Vakil, Deputy Head of Retail Research at HDFC Securities, said: “Markets flagged off the new financial year in style, with gains of more than a percent in benchmark indices. An ambitious package […]

New Delhi, April 1 (IANS) The Ministry of Finance released Rs 45,000 crore as additional devolution to states in FY 2020-21. An official statement said that this is an increase of 8.2 per cent over Revised Estimate 2020-21. As per RE 2020-21, Rs 5,49,959 crore, being 41 per cent of the shareable pool of taxes […]

Chennai, April 1 (IANS) The Chennai Financial Market and Accountability (CFMA), an investor protection group, said on Thursday that the Madras High Court has proposed a probe by the Serious Frauds Investigation Office (SFIO) and the Enforcement Directorate (ED) into the Franklin Templeton Mutual Fund (FTMF) scam. The investigation would be in addition to the […]

New Delhi, April 1 (IANS) OYO Hotels & Homes on Thursday announced that it would be covering vaccination costs for all employees in India and their families across all locations. In a statement, the hospitality major said that its employees and their family members will be able to choose to get the vaccination done at […]

Mumbai, April 1 (IANS) The key Indian equity indices traded in the positive territory on Thursday morning led by healthy buying in metal stocks. Around 10.40 a.m., Sensex was trading at 49,683.79, higher by 174.64 points or 0.35 per cent from its previous close of 49,509.15. It opened at 49,868.53 and has touched an intraday […]

New Delhi, April 1 (IANS) Centre has withdrawn its decision to lower the small savings rate for the April-June quarter. “Interest rates of small savings schemes of GoI shall continue to be at the rates which existed in the last quarter of 2020-2021, i.e., rates that prevailed as of March 2021. Orders issued by oversight […]

Geneva, April 1 (IANS) The World Trade Organization (WTO) said on Wednesday that global trade is primed for a strong but uneven recovery after the Covid-19 pandemic shock, forecasting an increase in the volume of world merchandise trade of 8 per cent this year. The global trade body said prospects for a quick recovery in […]

New Delhi, March 31 (IANS) The Income Tax Department has carried out search and seizure operations on two real estate developers engaged in real estate activities mainly in and around Yadagirigutta suburb of Hyderabad. The developers are into plot ventures as well as in the construction of apartments, said a Finance Ministry statement. During the […]

Hyderabad, March 31 (IANS) ADP India and Bharat Financial have announced that they will sponsor the Covid-19 vaccines for all their employees in India. ADP will also be covering family members of its employees including their children and parents. As a part of this initiative, ADP will cover the cost of the total vaccine for […]

New Delhi, March 31 (IANS) A big cut in small savings schemes will deliver a blow to savers who depend on these schemes for income and social security. Conversely, this will reduce interest rates, bring down the cost of capital and spur capex and stock markets. The government revised the interest rates on small savings […]

New Delhi, March 31 (IANS) The Centre on Wednesday extended the validity of the Emergency Credit Line Guarantee Scheme up to June 30, an official statement said. The validity of all three tranches of ECLGS have been extended up to June 30, or till guarantees for an amount of Rs 3 lakh crore are issued, […]

New Delhi, March 31 (IANS) The Delhi Transport Corporation (DTC) has extended its agreement with the Indraprastha Gas Limited (IGL) for the supply of Compressed Natural Gas (CNG) for the next 10 years. According to an official, the discount being provided by IGL to DTC on bulk purchase of CNG has been enhanced to 6.5 […]

Mumbai, March 31 (IANS) Fears over re-imposition of movement restrictions to curb the rise in Covid infections, along with a massive surge in US Treasury yields, pulled India’s key stock markets lower on Wednesday. Globally, investors were spooked into selling tech-related growth shares after the US Treasury yields hit a 14-month high. Besides, major moves […]

New Delhi, March 31 (IANS) State-run oil marketing companies (OMCs) will reduce the price of domestic LPG cylinder by Rs 10 per cylinder from April 1. Domestic LPG cylinder will cost Rs 809 per cylinder in Delhi, effective April 1. In a statement on Wednesday, OMC major Indian Oil Corporation said that prices of crude […]

Dhaka, March 31 (IANS) GE on Wednesday announced that it will be providing maintenance services and a suite of digital solutions for the upcoming 718-megawatt (MW) combined cycle power plant at Meghnaghat, Narayanganj, Bangladesh owned by Reliance Bangladesh LNG & Power Ltd, a joint venture between Indias Reliance Power Limited and Japans JERA Co., Inc. […]

By Venkatachari JagannathanChennai, March 31 (IANS) While it houses several manufacturing and information technology (IT) industries in its various industrial estates, State Industries Promotion Corporation of Tamil Nadu Ltd (SIPCOT) plans to locate a large number of ‘oxygen plants’, said a top official. The Tamil Nadu government undertaking has set up 21 industrial estates and […]

Mumbai, March 31 (IANS) The Reserve Bank of India (RBI) on Wednesday said that Non-Banking Financial Company – Micro Finance Institutions (NBFC-MFIs) will charge an applicable average base rate of 7.81 per cent from their borrowers during the April-June quarter. The average base rate charged during the current quarter is 7.96 per cent. “The Reserve […]

Chennai, March 31 (IANS) Vedanta Ltd is planning to set up a 5,00,000 ton per annum (tpa) copper smelter plant in a coastal region in India. Is Vedanta Ltd planning to shift its 400,000 tpa copper smelter plant in Tuticorin — that has been shut down by Tamil Nadu government — to some other coastal […]

Mumbai, March 31 (IANS) The key Indian equity indices declined on Wednesday morning, with the BSE Sensex losing over 500 points. Heavy selling pressure was witnessed in banking and finance stocks. Around 10.24 a.m., Sensex was trading at 49,629.68, lower by 506.90 points or 1.01 per cent from its previous close of 50,136.58. It opened […]

New Delhi, March 30 (IANS) Finance Minister Nirmala Sitharaman has suggested that the New Development Bank (NDB) facilitate private sector participation and explore more innovative financing structures. Addressing the 6th Annual Meeting of Board of Governors of the New Development Bank through video-conference, she highlighted the role of Development Financial Institutions (DFIs) in infrastructure financing […]

New Delhi, March 30 (IANS) Investments made by non-resident Indians (NRIs) on a non-repatriation basis will not be considered for calculation of indirect foreign investment. The Department for Promotion of Internal Policy and Trade (DPIIT) under the Ministry of Commerce and Industry has reviewed the policy on downstream investments made by non-resident Indians (NRIs). This […]

New Delhi, March 30 (IANS) As the government’s new disinvestment policy moves ahead, the Union Cabinet is likely to consider the privatisation of IDBI Bank in its meeting next week, sources said on Tuesday. The LIC-owned IDBI Bank would be the first-ever public sector bank to be put on the block. People in the know […]

New Delhi, March 30 (IANS) Although India is witnessing a recovery in economic activities and businesses, its economic output is expected to remain below the 2019 level, said a report by US Economic and Social Commission for Asia and the Pacific (ESCAP). For FY22 starting April 1, the USESCAP report has projected a growth rate […]

Bengaluru, March 30 (IANS) Karnataka Deputy Chief Minister C N Ashwath Narayana on Tuesday called upon US enterprises to invest in the southern state, which has an ecosystem for innovation and growth. “American firms should invest in Karnataka and make use of its ecosystem to innovate and grow in India,” Narayan said at a virtual […]

New Delhi, March 30 (IANS) India’s passenger vehicle industry is expected to post a growth of 22 to 25 per cent in FY22, ratings agency ICRA said on Tuesday. The growth is expected to be achieved after a 2-4 per cent de-growth in FY21. As per an ICRA research, the growth will be achieved on […]

Mumbai, March 30 (IANS) Value buying, along with index rebalancing related inflows and buying before the financial year end, lifted India’s key equity indices on Tuesday. Amongst global cues, the unblocking of Suez Canal and expected unveiling of an infrastructure plan from US President Joe Biden buoyed sentiments, despite concerns about a hedge fund default […]

New Delhi, March 30 (IANS) Mumbai Metropolitan Region (MMR) witnessed the highest yearly decline (8 per cent) in total unsold housing stock by during the the January-March quarter, said a report by Anarock Property Consultants. Unsold inventory in MMR stands at 1,97,040 units, down from 2,13,180 units as on Q1 2020-end. It is the highest […]

Mumbai, March 30 (IANS) Favourable global cues, as well as value buying, lifted India’s key equity indices up on Tuesday. The two indices had a gap up opening on account of favourable global cues and declining VIX. In terms of counters, most sectoral indices closed in the green. The S&P BSE Sensex was up by […]

Mumbai, March 30 (IANS) Maldivian, the flag carrier of the Maldives, will launch its first direct flight connecting Maafaru with Mumbai, proving a boon to Bollywood, business and leisure travelers, an official said on Tuesday. Starting April 13, Maldivian will operate three flights a week on Sundays, Tuesdays and Fridays to Maafaru, with a flying […]

Prayagraj (Uttar Pradesh), March 30 (IANS) From traditional crops to exotic fruits like dragon fruits and strawberries, farmers in Uttar Pradesh are now spreading their wings beyond age-old ruts as they initiate into pearl farming. Following the concept of ‘Atmanirbhar Bharat’, farmers in Pratappur and Chakka blocks of Prayagraj district have started pearl farming with […]

Chennai, March 30 (IANS) City based Tamilnadu Petroproducts Ltd is embarking on capacity expansion for Linear Alkyl Benzene (LAB), moderisation of heavy chemicals division (HCD) and setting up of propylene recovery unit (PRU) at an outlay of Rs 435 crore. The company will expand its LAB capacity from 120,000 tpa to 145,000 tpa at an […]

New Delhi, March 30 (IANS) The Department of Posts has issued new rules for deduction of TDS if the aggregate withdrawal from all post office schemes is more than Rs 20 lakh. The provision includes withdrawals from PPF also. As per the new provisions under Section 194N of Income Tax Act 1961, if an investor […]

Lucknow, March 30 (IANS) The fear of Covid has started casting a shadow on the mango growers in Malihabad who fear that restrictions may affect business for the second consecutive year. Last year, mango trade was adversely affected due to lockdown which prevented transportation and exports of the fruit. Business was hit further due to […]

Mumbai, March 30 (IANS) The BSE Sensex surged over 800 points tracking a rise as traders returned to the market after three days. Rise in the Asian markets also supported the domestic indices, analysts said Healthy buying was witnessed in the banking, metal and finance stocks. Around 10.25 a.m., Sensex was trading at 49,839.23, higher […]

Mumbai, March 30 (IANS) The key Indian equity indices rose on Tuesday morning with the BSE Sensex rising over 500 points. Healthy buying was witnessed in metal, finance and oil and gas stocks. Around 9.30 a.m., Sensex was trading at 49,510.36, higher by 501.86 points or 1.02 per cent from its previous close of 49,008.50. […]

By Rohit VaidMumbai, March 29 (IANS) Weak economic outlook due to domestic resurgence in Covid-19 cases is expected to dampen rupee’s prospects during the upcoming week. Besides, macro economic data points such as a wider fiscal deficit are likely to support the trend. “Fears of higher Covid-19 cases along with rising inflation will dampen the […]

New Delhi, March 29 (IANS) Credit Suisse and Nomura Holdings have flagged concerns of significant losses after a major US-based hedge fund defaulted on margin calls made last week, following which shares of the two financial institutions slumped on Monday. In a statement on Monday, Credit Suisse said that a significant US-based hedge fund defaulted […]

New Delhi, March 29 (IANS) The slide in global crude oil prices on Monday gave hope for a similar fall in domestic petroleum prices. The fall in oil prices comes after a blockage at strategic Suez Canal spooked global Impex industry, while a massive wave of Covid-19 infections continued to impact large parts of Europe. […]

New Delhi, March 29 (IANS) With a loss of $ 9 billion per day due to the Suez Canal being blocked by a container ship, global industry is awaiting the enormity of insurance claims. For India, pressure could mount for certain industries that depend on Europe and the US and it is expected that there […]

New Delhi, March 29 (IANS) Centre’s move to allow the direct sale of ethanol as a fuel for compatible automobiles is expected to boost demand, said India Ratings and Research (Ind-Ra). According to the agency, the move assumes significance especially for the sugar industry as India might not be able extend export subsidies beyond 2023, […]

New Delhi, March 29 (IANS) Large private banks are well placed to accelerate market share gains, Motilal Oswal Financial Services (MOFSL) said in a report. As per the report, the rise in market share is expected to take place on the back of strong capital position, robust liability franchise, and higher provisioning coverage on stressed […]

New Delhi, March 29 (IANS) The slide in global crude oil prices below $60 a barrel mark on Monday gave hope for a similar fall in domestic petroleum prices. The fall in oil prices comes after a massive wave of Covid-19 infections continued to impact large parts of Europe. Resultantly, global fears have resurfaced on […]

New Delhi, March 29 (IANS) Cement demand growth is expected to continue in Q4FY21, said India Ratings and Research (Ind-Ra). Accordingly, the agency pointed out the aggregate sale volumes of listed cement companies grew 9 per cent YoY in Q3FY21. This trend, Ind-Ra cited was led by the continued momentum in the rural segment and […]

New Delhi, March 28 (IANS) In a major development in terms of regional connectivity, a total of 18 flight routes were operationalised under the UDAN scheme on Sunday. With this, over 343 routes have been operationalised under UDAN – Regional Connectivity Scheme (RCS). “Since its inception, over 343 routes have been operationalized under #UDAN-RCS. On […]

Mumbai, March 28 (IANS) The Reserve Bank of India (RBI) has said that banks will conduct special clearing operations exclusively for government cheques on March 31 to facilitate accounting of all the government transactions for the current financial year. In a notification to all scheduled banks along with small finance banks and the National Payments […]

New Delhi, March 28 (IANS) A reduction in the spot LNG price, along with strong demand, and a sharp increase in domestic gas supply, should drive gas utilities’ earnings growth and valuations, HDFC Securities said. “We expect the fall in spot LNG price by 80 per cent from the recent peak in Feb 2021 to […]

By Rohit VaidMumbai, March 28 (IANS) Resurgence in Covid-19 cases along with upcoming macro economic data points are likely to subdue key equity indices next week. Besides, markets are expected to witness low volumes due to fiscal end period in the truncated week ahead. “Stocks could be buffeted by end-of-quarter and end of fiscal trading […]

New Delhi, March 28 (IANS) A large container ship, ‘Ever Given’ remains stuck in Egypt’s Suez Canal, the busiest waterway in the world. The ship, a vessel named the ‘Ever Given’, ran aground after strong winds and a sandstorm caused low visibility and poor navigation, the Suez Canal Authority said in a statement. The ship […]

New Delhi, March 28 (IANS) Sugar sector growth is expected to improve in Q4FY21, ratings agency India Ratings and Research (Ind-Ra) said. Accordingly, the improvement is expected to come on the back of the subsidy announced in December 2020 and a strong momentum in exports. “Ind-Ra expects healthy revenue growth in Q4FY21 after the delay […]

New Delhi, March 27 (IANS) The much-anticipated initial public offering (IPO) of Life Insurance Corporation of India (LIC) can bring in Rs 1 lakh crore for the government, said the Chief Economic Adviser (CEA) K.V. Subramanian. Speaking at a webinar on Saturday, the CEA said that the strategic sale of Bharat Petroleum Corporate Ltd (BPCL) […]

New Delhi, March 27 (IANS) Power transmission and retail distribution company Adani Transmission Limited (ATL) has signed definitive agreements with Essel Infraprojects Limited (EIL) for the acquisition of Warora-Kurnool Transmission Limited (WKTL) for an enterprise value of Rs 3,370 crore. The regulatory approval for substitution of original awardee in the contract by Adani Transmission has […]

New Delhi, March 27 (IANS) As efforts are underway to free a giant container ship stuck in the Suez Canal, the Indian government in discussion with the stakeholders has decided that the Federation of Indian Export Organisations (FIEO), Marine Products Export Development Authority (MPEDA) and Agricultural and Processed Food Products Export Development Authority (APEDA) will […]

New Delhi, March 27 (IANS) FICCI Alliance for Re-imagining School Education (ARISE) is going to organise its first global universities’ fair called “FICCI Arise International Uni Fair” on March 31 between 5.30 p.m. and 8 p.m. As higher education plays an important role in promoting human development as well as contributing to the economy of […]

New Delhi, March 27 (IANS) Apparel Export Promotion Council (AEPC) has sought for imposition of quantitative restrictions and export duty on export of cotton yarn from India. In a letter to the Union Minister of Textiles Smriti Zubin Irani, AEPC Chairman A. Sakthivel said that despite several efforts by the government to reduce the price […]

New Delhi, March 27 (IANS) The Food Safety and Standards Authority of India (FSSAI) has made it mandatory for manufacturers of packaged drinking water and mineral water to take BIS certification for obtaining license or registration from the regulator. The FSSAI on Friday said that FBOs(Food Business Operators) will have to mandatorily upload copy of […]

New Delhi, March 26 (IANS) As the Supreme Court on Friday ended a long strecthed dispute between the Tatas and the Mistrys, the matter of the Mistrys-led Shapoorji Pallonji Group’s (SP Group) exit from the Tata Sons still hangs on fire. Although the top court on Friday alllowed all the appeals of the Tata Group […]

New Delhi, March 26 (IANS) The Wave Mega City Centre (WMCC) Private Limited, the company that was developing a mega commercial-cum-residential project in Noida, has filed an application before the National Company Law Tribunal (NCLT) to initiate voluntary corporate insolvency resolution process (CIRP) to protect the interests of hundreds of buyers in the project, who […]

Lucknow, March 26 (IANS) Gorakhpur will now be connected to Lucknow by air. As a Holi gift to the people of Gorakhpur, the flight between two cities will commence on March 28. According to the government spokesman, passengers on the inaugural flight coming from Gorakhpur, will be given a grand welcome at Lucknow Airport. The […]

Mumbai, March 26 (IANS) Snapping its two-day free fall the Indian stock market surged on Friday with the BSE Sensex gaining over 700 points during the afternoon trade. Bargain buying along with a positive trend in the global markets supported the Indian indices. Healthy buying was witnessed across the board led by metal, auto, and […]

New Delhi, March 26 (IANS) Coal based power plants would remain the major contributors to India’s energy needs over the medium term, but the composition is set to witness a major change over next five to six years with renewables overtaking fossil fuel based projects in the country’s installed power generation base for the very […]

New Delhi, March 26 (IANS) Oil marketing companies on Friday went on pause mode and decided against revising petrol and diesel after cutting its retail rates in the previous two days. Accordingly, the pump price of petrol and diesel remained at previous days level of Rs 90.78 and Rs 81.10 a litre respectively in the […]

Mumbai, March 26 (IANS) The Indian stock market returned to the positive territory on Friday with the BSE Sensex gaining over 400 points. The indices rose as investors took to bargain buying after the recent decline over concerns of resurging Covid-19 cases both globally and in India. Around 10.10 a.m., Sensex was trading at 48,851.63, […]

Washington, March 26 (IANS) The US economy grew at an annual rate of 4.3 per cent in the fourth quarter of 2020 in the third and final estimate, up from 4.1 per cent in the previous estimate, the US Commerce Department reported on Thursday. The upward revision primarily reflected an upward revision to private inventory […]

New Delhi, March 25 (IANS) Jio Content Distribution Holdings Private Limited, Jio Internet Distribution Holdings Private Limited and Jio Cable and Broadband Holdings Private Limited has issued a notice of the proposed offer for sale (OFS) of the equity shares of Hathway Cable & Datacom. As per a stock exchange filing, the sellers propose to […]

Chandigarh, March 25 (IANS) To promote solar energy in Haryana, the Dakshin Haryana Bijli Vitaran Nigam in Thursday announced a scheme with subsidy of 40 per cent for a three kilowatt plant in homes as per the guidelines of the Ministry of New and Renewable Energy. A subsidy of 20 per cent subsidy will be […]

New Delhi, March 25 (IANS) Amazon has asked the Indian government not to change e-commerce foreign investment rules until investigations into its business practices had been concluded, a global news wire reported. The Amazon move comes at a time when high-level discussions are being in the DPIIT (Department for Promotion of Industry and Internal Trade) […]

New Delhi, March 25 (IANS) In what may give a fillip to stock broking activity, an appellate authority has exempted stock brokers buying or selling shares for clients from payment of GST on delayed payment charges. The Appellate Authority for Advance Ruling (AAAR), Uttar Pradesh, has modified an earlier order by the Authority for Advance […]

New Delhi, March 25 (IANS) Jio Futuristic Digital Holdings Private Limited, Jio Digital Distribution Holdings Private Limited and Jio Television Distribution Holdings Private Limited as the sellers have issued a notice for proposed offer for sale (OFS) of the equity shares of Den Networks Ltd. As per a stock exchange filing, the sellers propose to […]

New Delhi, March 25 (IANS) A crucial meeting on Thursday on FDI policy for the e-commerce sector is being attended by 25 leading companies. The meeting through video conference is being held under the Chairmanship of Secretary, DPIIT regarding FDI Policy on e-commerce sector. The meeting is being attended by e-commerce players, including RIL, Amazon, […]

Chennai, March 25 (IANS) India’s insurance sector regulator has directed all insurers to register their template of messages with their telecom service providers to control unsolicited and fraudulent messages to policyholders. Pointing out at the menace of spam calls and messages to policyholders, the Insurance Regulatory and Development Authority of India (IRDAI) has issued the […]

Mumbai, March 25 (IANS) The key Indian equity indices continued to decline on Thursday, with the BSE Sensex losing over 500 points. Heavy selling pressure was witnessed in auto, finance and IT stocks. Decline in the index heavyweights such as Reliance Industries, HDFC Bank and Infosys weighed on the indices. Around 10.30 a.m., Sensex was […]

Lucknow, March 25 (IANS) The gun industry major, Webley and Scott, has shown interest to further invest in Uttar Pradesh. After having a unit in partnership in Hardoi, it is now keen to open an independent factory in the state. Chief Minister Yogi Adityanath will be meeting the director of Webley & Scott soon to […]

New Delhi, March 24 (IANS) The Lok Sabha on Wednesday unanimously passed a bill to strengthen the provisions of Juvenile Justice (Care and Protection of Children) Act, 2015 to ensure better protection and adoption of children. Union Minister of Women and Child Development Smriti Zubin Irani, while addressing the House, said that the amended bill […]

Chennai, March 24 (IANS) The Chennai Financial Markets and Accountability (CFMA), an investor protection organisation, said on Wednesday that Franklin Templeton Mutual Fund (FTMF) has failed to honour its commitment made before the Supreme Court to distribute Rs 9,122 crore to all the unit-holders of its six closed schemes, and paid ‘zero to minuscule’ amount […]

Mumbai, March 24 (IANS) The Indian stock market witnessed a freefall on Wednesday with the BSE Sensex losing over 800 points. The decline in the domestic market took place in line with the global selloff. Heavy selling pressure was witnessed in banking, finance, metal and auto stocks. Globally, stock markets were weignhed on by the […]

New Delhi, 24 March (IANS) Participating in a debate on the Finance Bill 2021 in the Rajya Sabha on Wednesday, Deepender Singh Hooda, the Congress MP from Haryana, targeted the economic policies of the Central government and said the Centred had pinned the blame of economic failures on Covid-19 pandemic. Hooda alleged the economy has […]

New Delhi, March 24 (IANS) Government may ask banks to provide details of interest on interest collected by them for loans exposure of over Rs 2 crore. This follows the Supreme Court’s observation given on Tuesday where it noted that the RBI and the government have not provided any rationale for the overall borrower’s debt […]

Panaji, March 24 (IANS) The first phase of Goa’s new greenfield international airport at the Mopa plateau in North Goa, will be commissioned by August 2022, Chief Minister Pramod Sawant said on Wednesday. Sawant told the Goa Legislative Assembly in a written reply, that the project was delayed due to the Covid-19 pandemic. “Presently construction […]

New Delhi, March 24 (IANS) Consumers can heave a sign of relief as oil marketing companies (OMCs) have finally relented and reduced the retail price of petrol and diesel after keeping them steady for past 24 days. This is first reduction in petrol and diesel prices in 2021. Petrol price fell by 18 paise per […]

Mumbai, March 24 (IANS) The Indian stock market traded deep in the red on Wednesday with the BSE Sensex falling nearly 800 points. It fell 798 points to touch an intraday low of 49,253.36 points. The fall in the domestic market came on the back of the sell-off in the US and Asian markets. Heavy […]

Mumbai, March 24 (IANS) Adani Green Energy Ltd (AGEL) on Wednesday announced that it has signed a share purchase agreement for the acquisition of 100 per cent stake in two special purpose vehicles (SPV) holding 74.94 MW operating solar projects of Sterling & Wilson, a Shapoorji Pallonji group company. The projects, commissioned in 2017, are […]

Mumbai, March 24 (IANS) The BSE Sensex plunged over 500 points on Wednesday morning tracking a decline in the Asian markets. Heavy selling was witnessed in metal, finance, banking and IT stocks. Around 10.15 a.m., Sensex was trading at 49,536.26, lower by 515.18 points or 1.03 per cent from its previous close of 50,051.44 points. […]

New Delhi, March 23 (IANS) Finance Minister Nirmala Sitharaman on Tuesday clarified that the equalisation levy will not be applicable on foreign companies who pay income tax in India. The Lok Sabha on Tuesday passed the Finance Bill, 2021, with Sitharaman introducing fresh amendments. She said that equalisation levy has been imposed to provide a […]

New Delhi, March 23 (IANS) Two-wheeler major Hero MotoCorp will increase the prices of its vehicles with effect from April 1, 2021. The price increase across the range of two-wheelers will be up to Rs 2,500, and the exact quantum of the increase will vary on the basis of the model and the specific market, […]

New Delhi, March 23 (IANS) The government has put yet another ceiling on tax-free contribution made to provident funds. Replying to the debate on Budget 2021-22, Finance Minister Nirmala Sitharaman said that a ceiling of Rs 5 lakh per annum would be applied in those cases where there is no contribution towards provident fund (PF) […]

New Delhi, March 23 (IANS) The much-anticipated development finance institution will be exempt from taxation, Finance Minister Nirmala Sitharaman said on Tuesday. In her reply in the debate on the Union Budget FY22 in the Parliament, she said that the government has created an infrastructure pipeline to be funded through the National Bank For Financing […]

Chennai, March 23 (IANS) German consumer durable major BSH Hausgerate GmbH (BSH) will start manufacturing refrigerators in India, a senior official said on Tuesday. “We believe in the growth in India. In addition to washing machines, refrigerators will be made in India,” COO Silke Maurer said in reply to a question raised by IANS at […]

New Delhi, March 23 (IANS) As the rising bond yields in the US are causing frenzy across the financial markets across the globe, a report by Moody’s Investors Service said that the economic condition of emerging markets is a major factor that determines the impact of the US bond market volatility. The report noted that […]

New Delhi, March 23 (IANS) The CEOs of the world’s most influential companies are planning what the ‘new reality’ will look like post-pandemic. The 2021 KPMG CEO Outlook Pulse Survey finds that almost half (45 per cent) of global executives do not expect to see a return to a ‘normal’ course of business until sometime […]

New Delhi, March 23 (IANS) After power, the country’s oil sector PSUs would now float an infrastructure investment trust (InvIT) as part of the asset monetisation exercise announced by the government and mobilise resources for fresh capital investment. As part of the exercise, gas transportation utility Gail India is expected to set up the gust […]

New Delhi, March 23 (IANS) App based door-to-door fuel delivery service provider, ‘The Fuel Delivery’ is all set to start operations in India beginning Delhi NCR and the country’s business capital Mumbai. The new age start-up, brand of Mumbai based RST Fuel Delivery Pvt. Ltd. aims to transform the fuel delivery and consumption landscape in […]

New Delhi, March 23 (IANS) Nissan India has announced a price hike across all available models for Nissan and Datsun, effective from April 1. “There has been continuous escalation in auto component prices, and we have tried to absorb this escalation over the last few months. We are now constrained to increase our prices across […]

Mumbai, March 23 (IANS) The Indian equity indices shed major gains made during the initial trade on Tuesday, with the BSE Sensex trading below the 50,000-mark. It rose above the landmark level to touch an intraday high of 50,115.24 points. Around 10.40 a.m., Sensex was trading at 49,934.57, higher by 163.28 points or 0.33 per […]

Ahmedabad, March 23 (IANS) The Adani Ports and Special Economic Zone (APSEZ) Ltd. is acquiring the 58.1 per cent stake held by D.V.S. Raju and family in the Gangavaram Port Limited (GPL). The acquisition is valued at Rs 3,604 crore and subject to regulatory approvals. APSEZ, the transportation arm of Adani Group, had announced acquisition […]

New Delhi, March 22 (IANS) Transmission utility Power Grid Corporation of India Ltd (Powergrid) is set to acquire 74 per cent stake in Jaypee Powergrid Ltd-JV (JPL) for an undisclosed amount. The company on Monday signed a share purchase agreement with Jaiprakash Power Ventures Ltd (JPVL) that will allow it to take full control of […]

New Delhi, March 22 (IANS) The Confederation of All India Traders (CAIT) has praised FICCI President Uday Shankar for taking a stand on FDI policy e-commerce. “At the outset, we at CAIT appreciate you for standing up for Indian people and taking a clear stand by demanding clarifications in FDI policy in e-commerce for enhancing […]

New Delhi, March 22 (IANS) Fuel prices in the country have remained steady for over three weeks now as softening crude and Assembly elections in four states and one union territory has kept Oilcos from revising the retail prices. Accordingly, petrol continues to be priced at Rs 91.17 a litre and diesel Rs 81.47 a […]

By Rohit VaidMumbai, March 21 (IANS) Surge in the Covid cases as well as global bond yields might dampen the key equity indices next week, analysts contended. Accordingly, market watchers, said that the upswing seen late on last Friday on account of rejig in international index weights might not sustain in the coming week. “Nifty […]

New Delhi, March 21 (IANS) Budget airline GoAir on Sunday announced its ‘Summer Sale’ with booking period starting from March 22-26. The travel period for the offer commences from March 22 – June 30 and comes with special features. According to the airline, these features have been crafted after analysis of customers’ needs. “The first […]

New Delhi, March 21 (IANS) The chemical sector is expected to grow at 1.2x-1.3x of the GDP multiplier in FY22, India Ratings and Research (Ind-Ra) said. Accordingly, the ratings agency has assigned the sector an improving outlook for FY22. It expects favourable market conditions across the broad chemical subsectors, along with a healthy rebound in […]

New Delhi, March 21 (IANS) Global rollout of Covid-19 vaccines along with the Centre’s initiatives is expected to boost exports in the coming months, EEPC India said. “Given the initiatives announced by the government and the speedy rollout of vaccination, we expect the growth to return in the coming months. There is also a gradual […]

By Rohit VaidMumbai, March 21 (IANS) Sustained foreign inflows along with a slew of upcoming IPOs is expected to strengthen the Indian rupee during the week ahead. Accordingly, these factors are expected to push the rupee beyond its current 52 week high mark. This might lead RBI to absorb dollars to keep the rupee in […]

New Delhi, March 21 (IANS) India’s telecom subscribers’ addition came back on steady path in January 2021, Motilal Oswal Financial Services said in a report. Accordingly, the total subscriber base increased to 1.16 billion in January 2021. The report citing Telecom Regulatory Authority of India (TRAI) data, the analysis report said gross subscribers increased by […]