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Petrol and Diesel Price Today in India: In Delhi, the petrol prices were hiked by 27 paise to cross the Rs 96-mark and diesel prices were also increased on Saturday, June 12...
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Rupee Vs Dollar Rate Today: At the interbank foreign exchange market, the regional system opened at 72.97 versus the dollar and swung in the series of 72.91 to 73.09 throughout the day ... Rupee Vs Dollar Today: The rupee settled at 73.07 versus the dollarContinuing its losing streak for the fourth straight session, the rupee decreased by one paise versus the US dollar on Friday, June 11, to settle at 73.07 in the middle of stronger American currency and increasing petroleum rates. At the interbank foreign exchange market, the regional unit opened at 72.97 against the dollar amidst its previous close of 73.06 and swung in the series of 72.91 to 73.09 throughout the day. The domestic system has lost 27 paise in the last 4 trading sessions.On a weekly basis, the local unit decreased eight paise versus the dollar. Meanwhile, the dollar index, which determines the greenback's strength versus a basket of 6 currencies, increased 0.15 per cent to 90.21. On Thursday, June 10, the rupee slipped by nine paise to settle at 73.06 against the greenback. On Wednesday, June 9, the regional system declined by eight paise against the dollar to settle at 72.97. The focus now switches on the big final event, the Fed's conference next week, although there might not be much of a shift in rhetoric. If Fed hints that tapering discussion may be closer than previously, a knee-jerk spurt may be seen in USDINR area, however Fed won't rush into tightening up the stimulus so overall the dollar will stay soft, stated Mr. Rahul Gupta, Head Of Research Study- Currency, Emkay Global Financial Providers. The stronger inflow into the domestic equity market could limit the advantage in the pair for a while and RBI's continuous spot intervention could limit the disadvantage upto 72.50-70 levels. Overall, we anticipate that the USDINR set ought to sell the tight range of 72.50-73.20 zone prior to any big trigger offers a breakout on either side. The opportunities of upper side breakout are greater as RBI's buy area, sell forward swap might not enable further downside, said Amit Pabari, MD, CR forex.On the domestic equity market front, the BSE Sensex ended 174.29 points or 0.33 per cent higher at 52,474.76, while the more comprehensive NSE Nifty advanced 61.60 points or 0.39 per cent to 15,799.35. Taking hint from decline in Covid cases, stock exchange in India remained resistant this week. BSE Sensex and Nifty 50 continued to make record highs during the week. Both BSE Sensex and Nifty 50 went up by 0.8% each in the week. Market rally stayed broad based with healthy rally seen in BSE Midcap and BSE Smallcap index. Bulk of the sectoral indices relocated the positive direction, said Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities.According to provisional information, the foreign institutional investors (FIIs) remained net buyers in the capital markets, as they acquired shares worth Rs 1,329.70 crore on June 10. Brent crude futures, the global oil criteria, rose 0.22 percent to $ 72.68 per barrel.
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The Bengaluru-headquartered Sansera Engineering produces complex and vital accuracy crafted components for two-wheeler, passenger car and business automobile verticals ...
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A mutual fund is an open-end professionally managed investment fund that swimming pools together cash from numerous investors to purchase capital possessions ...
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Index of Industrial Production, April 2021: The indices for the mining, manufacturing, and electrical power sectors for April 2021 stand at108.0, 125.1, and 174.0, respectively ... IIP Data: Industrial production grew by 13.4% percent in April 2021Industrial production grew by 13.4 per cent in April 2021 from a year earlier, government data showed on Friday, June 11, registering a sharp healing as an outcome of the base impact due to the COVID-19 lockdown that struck economic activity last year. The commercial output index increased to 126.6 in April from 54.0 in the corresponding month in 2015. The industrial production, or the factory output, evaluated by the Index of Industrial Production (IIP), grew 22.4 percent in March. (Also Read: Retail Inflation Likely Rebounded To 5.30% In May 2021: Survey )According to the industrial production data released by the Ministry of Data and Programme Execution, the indices for the mining, production, and electricity sectors for April 2021 stand at 108.0, 125.1, and 174.0, respectively. The federal government did not release the data in portion terms. Although commercial production signed up a rise of 134.4 per cent from last year, however it saw a decrease of 13 per cent month-on-month, as the index stood at 145.5 in March 2021. The commercial production was higher than a survey carried out by news agency Reuters recently, which estimated that the factory output likely leapt 120 percent in April, from a year back. The Reuters survey conducted with more than 50 financial experts, predicted the retail inflation in May 2021 likely rebounded to 5.30 percent, driven by greater rates of food and energy.Moreover, the nation's output of the eight core sectors-- also referred to as the infrastructural output, and accounting for about 40 per cent of the overall commercial production, rose 56.1 per cent in April.According to use-based classification, the indices stand at 126.7 for main goods, 137.9 for intermediate goods, 82.4 for capital goods, and 134.8 for facilities or building items in April 2021. The indices for customer durables and customer non-durables stand at 112.4 and 142.3 respectively. What experts say: Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services: Commercial production super-surged in April, growing 134 per cent in the middle of favorable base impacts despite damaging momentum. On a consecutive basis, April IIP degrew 12 percent, reflecting hit on production activity as major states like Maharashtra and Delhi led the localized lockdowns. We keep in mind Maharashtra has 18 per cent share in India's manufacturing GVA. The May IIP consecutive development may also be impacted owing to more noticable localised lockdowns state sensible ... We see FY22 GDP growth at 9.0 percent ... The recovery ahead may again be led by capital and profits and not enhancing labor markets and earnings. Mr. Nish Bhatt, Founder - CEO, Millwood Kane International - an Investment consulting company: Commercial production grew at 134 per cent for the month of April 2021 regardless of lockdown. There can not be an outright comparison as the amazing figure is due to its comparison to the information taped in 2015 for the exact same month (April 2020) where most parts of the nation were facing a severe lockdown. The commercial growth has actually decreased 13 percent if compared month on month (March '21 vs April '21). Moving on, the industrial activity will pick up on a resilient basis just as soon as the rate of vaccination reaches a significant milestone, number of cases comes under control and the particular state federal governments allow permission for regular financial activities. Suman Chowdhury, Chief Analytical Officer, Acuité Ratings - Research Study: ... The general IIP in April 2021 has experienced a somewhat positive development of 0.1 percent although the manufacturing sector has contracted by 0.9 percent vis-à-vis April 2019 ... Undoubtedly, the nascent momentum in IIP seen over Q3/Q4 of FY21 has actually gotten a setback in April-May however a fast taper down of the everyday infection numbers and the seriousness around vaccination, have raised wish for a quick rebound of the IIP trajectory. While practically all the sections under the manufacturing sector have been impacted initially by the financial slowdown and thereafter by the pandemic, it is intriguing to note that the metals section has tape-recorded a development of 15.1 per cent over a two-year duration.
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Seven of 11 sector gauges assembled by the National Stock market were trading lower led by the Nifty PSU Bank index's almost 1 per cent decline ... Coal India was top Awesome gainer, the stock increased over 3 per cent to hit fresh 52-week high of Rs 165. The Indian equity benchmarks came off record highs hit previously in the session as banking, monetary services and capital products shares came under selling pressure. Buying in details technology shares topped the downside for the benchmarks. Earlier in the session, Sensex increased as much as 341 indicate hit record high of 52,641.53 and Nifty 50 index touched an all-time high of 15,835.55. Reliance Industries, Infosys, Tata Consultancy Providers and HDFC twins were among the top movers in the Sensex.As of 12:18 pm, the Sensex was up 133 points at 52,434 and Nifty 50 index rose 13 points to 15,751. Seven of 11 sector determines put together by the National Stock market were trading lower led by the Nifty PSU Bank index's almost 1 per cent decrease. Nifty Bank, Financial Providers, Media, Private Bank and Realty indices also declined 0.5-0.8 per cent.On the other hand, Nifty IT index increased 1.65 per cent.Mid-cap shares caught selling pressure on account of revenue booking wherein the Nifty Midcap 100 index fell 0.05 -per cent while Nifty Smallcap 100 index advanced 0.4 per cent.Coal India was leading Clever gainer, the stock rose over 3 per cent to strike fresh 52-week high of Rs 165. Tata Consultancy Providers, HCL Technologies, Infosys, Reliance Industries, Power grid, Bajaj Financing, Tech Mahindra, Dr Reddy's Labs, Tata Motors, Tata Consumer Products, Eicher Motors, Wipro and HDFC Bank were also amongst the gainers.On the flipside, Adani Ports, State Bank of India, SBI Life, ICICI Bank, HDFC Life, IndusInd Bank, Grasim Industries, UPL and Axis Bank were amongst the losers.The total market breadth was neutral as 1,568 shares were trading higher while 1,476 were decreasing on the BSE.
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People invest in long-term strategies mainly for 2 reasons: wealth accumulation and to cater to future needs that would need a decent quantity of expense ...
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The Competition Commission of India revealed its investigation after a trader group's problem accused the firms of promoting some favored sellers and hurting organization for smaller sellers ... Amazon stated it would examine the order carefully and after that choose the next steps . The court dismissed pleas on Friday by Amazon.com Inc and Walmart's Flipkart to quash an antitrust examination into the business practices of the U.S. firms, dealing them a blow in their key growth market. The Competition Commission of India (CCI) announced its examination in January 2020 after a trader group's complaint accused the companies of promoting some favored sellers and injuring organization for smaller sized sellers.The companies denied misbehavior and a court put a hang on the investigation in 2015. On Friday, Justice P.S. Dinesh Kumar of the high court in the southern state of Karnataka stated he was dismissing the petitions by Amazon and Flipkart, and refused them any more relief.Abir Roy, an attorney for the trader group, told Reuters the judge's choice effectively led the way to restart the investigation, which has been on hold for more than a year. The business are most likely to appeal against the verdict.Amazon said it would evaluate the order thoroughly and then decide on the next actions . Flipkart did not instantly react. When the competitors panel ordered its investigation, it listed 4 declared anti-competitive practices.These were unique launches of cellphones by the e-commerce firms, promoting preferred sellers on their sites, deep discounting practices and prioritising some seller listings over others.The examination is the current problem for the companies, which have actually also fought tougher foreign investment rules, and dealt with accusations for several years from brick-and-mortar sellers about circumventing Indian law by creating complicated business structures.In February, a Reuters examination based on internal Amazon documents revealed the U.S. firm for several years had helped a small number of sellers prosper on its platform in India, providing reduced charges and helping one cut unique handle big tech firms.As the competitors panel looked for to restart the probe, it told the Karnataka court in March; the Reuters report corroborated proof it had actually received versus Amazon.In action, the business, which has said it does not provide favoritism to any seller , told the court https://www.reuters.com/world/india/amazon-tells-indian-court-reuters-story-is-no-reason-resume-antitrust-probe-2021-04-15 it disagreed with the Reuters report, which ought to not be thought about evidence
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Dodla Dairy's public deal will consist of a fresh concern of up to Rs 50 crore and an offer for sale of approximately 1,09,85,444 shares by the promoters ...
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Assam chief minister Himanta Biswa Sarma had promised loan waiver to poor women in order to provide relief amid the COVID-19 pandemic....
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The Enforcement Directorate issued a show cause notice to the country's largest cryptocurrency exchange for undertaking transactions worth over Rs 2,790 crore in alleged violation of the Foreign......
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Mumbai-Ahmedabad Bullet Train Project: Bids were invited for the civil and infrastructure work on the Vadodara corridor, which includes double high-speed rail line and the Vadodara station...
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The government has appointed the Indian Renewable resource Advancement Firm as the executing firm for the scheme, stated the Ministry of New and Renewable Resource ...
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The marketplaces have actually been rising to record highs on the back of hopes of faster financial revival as pace of brand-new Covid-19 infections continue to decrease ... The Sensex ended 174 points or 0.33 percent higher to close at all-time high of 52,474.76. The Indian equity standards surged to record highs on Friday paced by gains in infotech and metal shares. The standards opened higher in which the Sensex increased as much as 341 points to hit record high of 52,641.53 and Nifty 50 index touched an all-time high of 15,835.55. The marketplaces have actually been rising to tape highs on the back of hopes of faster financial revival as speed of new Covid-19 infections continue to decrease, analysts said.The Sensex ended 174 points or 0.33 percent higher to close at all-time high of 52,474.76 and Nifty 50 index advanced 62 indicate close at record high of 15,799.35. Daily cases of the unique coronavirus in India remained listed below the 100,000-mark for a fourth straight day, with the health ministry's information on Friday revealing 91,702 brand-new infections.Seven of 11 sector determines compiled by the National Stock market ended lower led by the Nifty Realty index's 1 percent decrease. Cool Media, PSU Bank and Private Bank indices also declined around 0.5 per cent.On the other hand, Nifty Metal index was leading sectoral gainer, the index leapt 2.7 percent. Awesome IT and Pharma indices likewise increased over 1 per cent each.Mid- and small-cap shares also witnessed buying interest as Nifty Midcap 100 index rose 0.22 percent and Nifty Smallcap 100 index advanced 0.5 per cent.Tata Steel was top Clever gainer, the stock rose 4.4 per cent to close at Rs 1,163. JSW Steel, Coal India, Dr Reddy's Labs, Hindalco, Power Grid, TCS, Reliance Industries, Infosys, Tata Motors and HCL Technologies were also amongst the gainers.On the flipside, Axis Bank, Divis Labs, IndusInd Bank, Larsen - Toubro, Bajaj Finserv, HDFC Life, SBI Life, UltraTech Cement, Cipla, State Bank of India and ICICI Bank were amongst the losers.The total market breadth was favorable as 1,777 shares ended higher while 1,409 closed lower on the BSE.
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Century Plyboards Q4 Outcomes: Century Plyboards reported a 115 percent development in net revenue to Rs 83 crore on a standalone basis, compared to Rs 38.79 crore in the year-ago duration ... Century Plyboards Q4 Revenues: Century Plyboard's earnings from operations stood at Rs 738 croreCentury Plyboards India Limited revealed its January-March quarter results for the financial year 2020-21 on Thursday, June 10, reporting a 115 per cent development in net revenue to Rs 83 crore on a standalone basis, compared to Rs 38.79 crore in the year-ago duration. According to a regulatory filing by the company to the stock exchanges, Century Plyboard's income from operations stood at Rs 738 crore in the March quarter of fiscal 2021, compared to Rs 524 crore in the corresponding quarter of the previous fiscal. According to the statement, Century Plyboard's net revenue for the entire stood at Rs 192 crore, marking a development of 21 per cent, compared to Rs 158 crore in the previous financial 2019-20. The business's total income for the March quarter stood at Rs 742 crore, compared to Rs 524 crore in the matching quarter of the previous. The total earnings - an amount of earnings from operations and other income marked an increase of 41 per cent year-on-year in the fourth quarter of financial 2021. Century Plyboards is a manufacturer, exporter, and seller of laminates, plywood, doors, PVCs. The business offers plywood items under the brand name Century Ply. On Thursday, shares of Century Plyboard settled 5.23 percent greater at Rs 432.25 apiece on the BSE.Century Plywood got more than five per cent on Thursday, opening on the BSE at Rs 415, having swung in between an intra day high of Rs 445.75 and an intra day low of Rs 403.55, throughout the trading session today.
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SAIL Q4 Outcomes: Steel Authority of India (SAIL) reported a dive of 31 percent in net profit to Rs 3,470 crore on a combined basis in the March quarter of financial 2021 ...
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Bharti Airtel Share Rate: On Friday, Bharti Airtel opened on the BSE at Rs 549, swinging to an intra day high of Rs 549.85, and an intra day low of Rs 540.05, so far ... Shares of Bharti Airtel were last trading 0.72 per cent lower at Rs 541.15 on the BSE.Share rate of Bharti Airtel edged lower on Friday, June 11, a day after the international telecommunications business upgraded its mobile network in Himachal Pradesh by deploying an additional 17.4 MHz spectrum to enhance the network. On Friday, Bharti Airtel opened on the BSE at Rs 549, swinging to an intra day high of Rs 549.85, and an intra day low of Rs 540.05, in the trading session so far.In a declaration, Bharti Airtel Hub CEO (Upper North) Manu Sood stated that Airtel released an additional 17.4 MHz spectrum throughout 900, 1800 and 2300 MHz bands together with sophisticated network software application tools to bolster high-speed data capacity in its network.Out of this, 2.6 MHz has actually been included the 900 MHz band, 4.8 MHz in the 1800 MHz band, and 10 MHz in the 2300 MHz band. The deployment of an extra spectrum will permit better network and much better protection, data speed inside houses and buildings in the metropolitan and rural areas.With the addition of this spectrum, which was acquired during the most recent round of spectrum auctions, Airtel now has the biggest spectrum bank of 70 MHz in Himachal Pradesh. Airtel has more than 2.98 million customers in the state and its network covers a population of 95.02 percent of Himachal Pradesh.On the NSE, Bharti Airtel opened at Rs 545.90, inching to an intra day high of Rs 549.75, and an intra day low of Rs 540.05, in the session so far. It was last trading 0.91 per cent lower at Rs 540.20 on the NSE.Shares of Bharti Airtel were last trading 0.72 per cent lower at Rs 541.15 on the BSE.
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The RBI on Thursday okayed a hike in interchange costs per deal through automated teller devices from Rs 15 to Rs 17 ... RBI revised ATM charges after a space of 9 yearsThe Reserve Bank of India (RBI) on Thursday okayed a walking in the interchange fees per deal through automated teller makers (ATMs) from the existing Rs 15 to Rs 17 for monetary transactions. For non-financial deals, the costs has been increased from 5 rupees to 6 rupees. The increased fees will be applicable from August 1, 2021 onwards.The consumers will likewise be allowed 5 totally free deals, consisting of monetary and non-financial ones on a regular monthly basis from their own bank ATMs.Also they will be able to carry out 3 totally free transactions from ATMs of other banks in city cities.On crossing the recommended number of free transactions which a client is eligible to conduct from other banks' ATMs, the interchange charge has been hiked from the existing Rs 20 to Rs 21 per deal. This walking nevertheless will be applicable from January 1, 2022. An interchange costs is the amount which the card issuing bank pays to the ATM operator if a transaction by a client has actually been made from an ATM which does not belong to the card-issuing bank.The boost in the interchange cost structure is being effected after 2012, while the charges payable by consumers were last modified in August 2014. The reserve bank cleared the new charges on the basis of the suggestions of a committee which it had actually formed 2 years back to study the ATM charges and interchange fees.RBI likewise took into account the increasing cost of ATM release and costs towards ATM maintenance sustained by banks and white label ATM operators, a statement provided by the reserve bank said.
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Sri Lanka originally signed the swap deal readily available to SAARC countries in 2020 and repaid it in February 2021 after rolling it over when ... The Sri Lanka-RBI swap deal came under the centers offered to SAARC nations in 2020. Sri Lanka on Friday stated that its Reserve bank will return to a $ 400 million foreign currency swap with the Reserve Bank of India as part of steps to improve the country's foreign reserves hit by the COVID-19 pandemic. Central Bank Governor W D Lakshman said the country can draw down on the USD 400 million forex swap with the RBI in August 2021. Sri Lanka originally signed the swap deal available to SAARC countries in 2020 and repaid it in February 2021 after rolling it over when. On February 1, the Sri Lankan Reserve bank settled the USD 400 million currency swap facility from the RBI. Reserve Bank Guv Lakshman said the same swap might be acquired after August.The Sri Lanka-RBI swap offer came under the centers available to SAARC nations in 2020. A few weeks back, Sri Lanka went into a 200 million dollar swap with the Bangladesh reserve bank. Lakshman stated the signing of the contract for the Bangladesh swap would happen soon.Sri Lanka needs to pay a billion US dollar sovereign bond in July 2020. Sri Lanka had 4.4 billion United States dollars of reserves in April 2021. COVID-19 struck Sri Lanka in March 2020, putting its foreign reserves under stress because, as tourist, employee remittances and exports were severely hit.The SAARC currency swap structure came into operation on November 15, 2012, to provide a backstop line of financing for short term forex liquidity requirements or short-term balance of payments tension till longer term plans are made.The facility is readily available to all SAARC member countries, subject to their signing the bilateral swap arrangements.
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The leading court declined to pass an order on fresh loan moratorium and said the concerns raised in the PIL are in the realm of policy decisions ... Supreme Court, nevertheless, stated it depends on the government to assess and pass an appropriate order.The Supreme Court on Friday turned down a public interest lawsuits (PIL) requiring fresh moratorium on loan repayments in view of the 2nd wave of Covid-19. The top court declined to pass an order on fresh loan moratorium and said the problems raised in the petition remain in the realm of policy decisions.The Supreme Court, however, said it depends on the federal government to examine and pass an appropriate order.Last year, the Reserve Bank of India announced moratorium on loan repayments after the federal government enforced an across the country lockdown to suppress the spread of Covid-19 pandemic.The moratorium on all term loans, including house, car and crop loans, was revealed to assist consumers get rid of financial difficulties due to the coronavirus break out and subsequent nation-wide lockdown.Last month, the Reserve Bank of India re-opened its one-time loan restructuring plan for people and small companies impacted by the state-wise lockdowns amidst the second wave of coronavirus pandemic that has actually hit India terribly. Individuals, small company and micro, small and medium business (MSMEs) having exposure of up to Rs 25 crore, who did not obtain restructuring earlier and where loans were classified as standard as on March 31, 2021 were qualified for loan restructuring in the 2nd round.Restructuring under the proposed framework might be invoked approximately September 30 and will need to be implemented within 90 days thereafter, Mr Das said. Renewal of Covid-19 pandemic in India in recent weeks and the associated containment steps embraced at regional and local levels have produced brand-new unpredictabilities and impacted the nascent financial revival that was taking shape. In this environment, the most susceptible classification of customers are specific debtors, small businesses and MSMSEs, RBI Governor Shaktikanta Das stated in a speech last month.
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With the 3rd tranche, the RBI will complete the Rs one lakh crore target revealed for G-SAP in the very first quarter of 2021-22 ... RBI will start purchase of federal government securities on June 17The Reserve Bank of India (RBI) on Thursday said that it will perform the third tranche of free market purchase of government securities (G-Secs) valued at Rs 40,000 crore under its G-Sec Acquisition Program (G-SAP 1.0) on June 17. Out of this, the RBI said in a statement, state development loans (SDLs) would be acquired for up to Rs 10,000 crore.Accordingly, the Reserve Bank will buy government securities and state advancement loans (SDLs) through a multi-security auction utilizing the numerous cost technique. Under the 2nd tranche, the RBI had actually bought Rs 35,000 crore worth G-Secs under the G-SAP 1.0 on May 20 and purchased Rs 25,000 crore worth G-Secs under very first tranche on April 15. With the third tranche, the RBI will complete the Rs one lakh crore target announced for G-SAP in the first quarter of 2021-22. RBI nevertheless reserves the right to select the quantum of purchase of individual securities. Likewise the central bank will utilize its discretion to accept bids for less than the aggregate amount and purchase marginally greater or lower than the aggregate amount due to rounding-off. It can also accept or reject any or all the quotes either wholly or partially without appointing any factors, the declaration provided by RBI said.
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The reserves rose to a record $605.008 billion in the reporting week, helped by an increase in foreign currency assets (FCA)... In the previous week ended Might 28, 2021, the reserves had actually swelled by $5.271 billion to $598.165 billion.The country's forex reserves crossed the $600 billion mark for the first time after increasing by $6.842 billion in the week ended June 4, RBI data showed on Friday.The reserves surged to a record $605.008 billion in the reporting week, assisted by an increase in foreign currency possessions (FCA), a major component of the overall reserves, according to weekly data by the Reserve Bank of India (RBI). In the previous week ended May 28, 2021, the reserves had swelled by $5.271 billion to $598.165 billion.In the reporting week, FCA jumped by $7.362 billion to $560.890 billion, the data showed.Expressed in dollar terms, the foreign currency possessions consist of the effect of gratitude or devaluation of non-US units like the euro, pound and yen kept in the foreign exchange reserves.Gold reserves declined by $502 million to $37.604 billion.The special drawing rights (SDRs) with the International Monetary Fund (IMF) dipped $1 million to $1.513 billion.The country's reserve position with the IMF likewise stopped by $16 million to $5 billion in the reporting week, the data revealed.
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NHPC Share Cost Today: On Friday, NHPC Limited opened on the BSE at Rs 27.50, inching to an intra day high of Rs 27.50 and an intra day low of Rs 26.40, so far ... Shares of NHPC were last trading 0.55 per cent lower at Rs 26.90 on the BSE.Share rate of NHPC Limited edged lower by around one percent on Friday, June 11, a day after the business announced its January-March quarter results for the financial year 2020-21. On Friday, NHPC Limited opened on the BSE at Rs 27.50, inching to an intra day high of Rs 27.50 and an intra day low of Rs 26.40, in the trading session up until now. NHPC likewise announced that it will raise debt up to Rs 4,300 crore by issuing corporate bonds and/or by raising term loans/ECB (external industrial borrowing). According to a regulatory filing by the business to the stock exchanges, NHPC reported a nearly 80 per cent dive in net profit on a consolidated basis to Rs 464 crore in the March quarter of fiscal 2020-21. The hydropower board net earnings stood at Rs 258.83 crore in the matching quarter of the previous financial year.NHPC's board of directors recommended a final dividend at 3.50 percent of stated value of Rs 10 per share or Re 0.35 per equity share, for the fiscal year 2020-21, based on the approval of shareholders. This dividend is in addition to the interim dividend of Rs 1.25 per equity share for the 2020-21, paid in March 2021, said NHPC in its statement.On the NSE, NHPC Limite opened at Rs 27.45, touching an intra day high of Rs 27.50 and an intra day low of Rs 26.40, in the session so far. It was last trading 0.55 per cent lower at Rs 26.90 on the NSE.Shares of NHPC were last trading 0.55 percent lower at Rs 26.90 on the BSE.
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India GDP Development Projection 2022: The ranking firm has positioned its standard GDP growth projection for the financial year 2021-22 at 8.5 per cent after brand-new COVID-19 cases moderated ...
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Volkswagen Financing Private Ltd, the German carmaker's finance arm, stopped offering loans to car purchasers in India in 2015 ... Dealerships generally need credit to buy vehicles from automakers which they then sell on to customers.The car financing arms of Volkswagen AG and Ford Motor Co plan to stop providing brand-new credit to cars and truck buyers and dealerships in India and will exit from the nation, sources aware of the advancement informed Reuters.Volkswagen Financing Private Ltd, the German carmaker's finance arm, stopped providing loans to car purchasers in India in 2015 and in May told dealers of all VW brands, that includes Volkswagen, Skoda and Audi, to discover other financing, two sources with direct knowledge of the talks said.As some clients failed to make repayments, the finance unit has actually suffered losses, and will close for service by December 31, the sources said.More than 50 percent of Volkswagen group dealers use credit from the financing arm, they said.Volkswagen Financing Private Ltd stated in a statement that it had actually gotten a major stake in Indian loan brokerage portal KUWY Technologies to service its retail customers.It remains in talks with dealerships and will examine its company method by the end of the year, the business said.The car financing arms are classified as non-banking financial companies (NBFCs) and they compete with banks for providing credit. Banks have access to less expensive financing so can offer loans at lower rates than those provided by NBFCs or shadow lenders.To offset the downside, Volkswagen and Ford would offer incentives to those dealers who have utilized their credit financing, the sources said.Dealers usually require credit to buy cars and trucks from car manufacturers which they then sell on to customers.Volkswagen's plan to exit the financing business has shocked dealerships, coming weeks ahead of the launch of Skoda's brand-new sport-utility vehicle (SUV) to improve sales in India, the two sources said.Skoda dealers have been asked to discover new funding by the end of the month - a tight deadline ahead of a brand-new design launch, one source said.Ford Credit, the car manufacturer's funding arm, stopped lending to automobile purchasers at the end of last year and will stop credit to dealers by June 30, two separate sources said.The decision to exit the funding business comes at a time when Ford is finalising a brand-new strategy for India after ending ties with Mahindra - Mahindra on Dec. 31. A Ford Motor India representative stated the business frequently evaluates market conditions for its credit organization and the choice to stop was conveyed to dealerships in October - before it made any announcement on the Mahindra partnership. We are confident the car financing sector in India can support Ford consumer and dealer new funding needs. Our group continues to service our existing book of organization, the spokesperson said, adding that 25-30 per cent of its dealers do business with Ford Credit.
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eClerx Services' revenue in constant currency terms grew 31.8 per cent with sequential growth of 19.3 per cent, the company said in an exchange filing....
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Vijaya Diagnostic IPO: The public offerwill be a market of 35,688,064 equity shares by promoters, i.e. Dr S Surendranath Reddy and investors Karakoram, and Kedaara Capital Option... Vijaya Diagnostic is among the largest diagnostic chains in southern IndiaVijaya Diagnostic, the diagnostic chain backed by personal equity firm Kedaara Capital, has actually filed the draft red herring prospectus with the market regulator Sebi for its going public (IPO). Vijaya Diagnostic is the second diagnostic chain to apply for IPO this year, with Krsnaa Diagnostics having actually filed its papers in May.The diagnostic chain's public deal will be an offer for sale of 35,688,064 equity shares by the promoters, i.e. Dr S Surendranath Reddy and investors Karakoram, and Kedaara Capital Alternative Investment Fund, according to its draft red herring prospectus.The promoters will jointly dilute a 35 per cent stake in the diagnostic chain, with Kedaara alone watering down as much as 30 per cent. Kedaara Capital had actually gotten a stake of 40 percent in Vijaya in 2016. Vijaya Diagnostic is among the largest diagnostic chains in southern India, providing pathology and radiology testing services across 13 cities and towns in Telangana, Andhra Pradesh, Kolkata and the National Capital Region.Vijaya Diagnostic's noted peers include Dr Lal PathLabs, Thyrocare Technologies and City Healthcare.ICICI Securities, Edelweiss Financial Services and Kotak Mahindra Capital are the financial investment bankers for the IPO.
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GST Council Meeting 2021: In the previous GST Council meeting, the tax was exempted on the import of Amphotericin B, a medicine used for the treatment of black fungus infection ... GST Council Fulfilling 2021: Financing Minister will chair the 44th GST Council virtually tomorrowGST Council Satisfying 2021: Financing Minister Nirmala Sitharaman will chair the 44th products and service tax (GST) Council meeting on Saturday, June 12, through video conferencing, which is expected to decide on tax cuts for COVID-19 vital items and the black fungi medication. The GST Council conference will be carried out at 11 am in New Delhi and will be gone to by the Minister of State for Finance Anurag Thakur, along with senior officials of the government along with finance ministers of numerous states and Union territories. (Likewise Read: Black Fungi Medicine Exempted From Tax: Secret Takeaways From GST Council Meet ) In its previous meeting on May 28, the GST Council referred the choice over the tax rates on COVID vaccines to a group of ministers (GoM). The GST Council conference will talk about the report of the GOM tomorrow, headed by Meghalaya Deputy Chief Minister Conrad Sangma, on GST concessions on COVID-19 important products such as medical grade oxygen, hand sanitisers, pulse oximeters, ventilators, among others. The ministers also discussed drugs, vaccines, medicines for the treatment of COVID-19, and testing kits for detection.Presently, a five per cent GST is levied on the locally produced vaccines, while it is 12 per cent for COVID-19 drugs and oxygen concentrators. In the previous GST Council meeting, the tax was exempted on the import of Amphotericin B, a medicine utilized for the treatment of black fungus infection.The 43rd GST council conference on May 28 was held after a gap of practically 8 months. The previous one - 42nd GST Council conference, was performed in 2015, on October 5, 2020.
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Windlas Biotech IPO will consist of a fresh concern of Rs 165 crore and an offer for sale of as much as 5,142,067 shares, as per the draft file filed with the market regulator ... Windlas Biotech has four production centers located at Dehradun in Uttarakhand.Windlas Biotech has actually filed initial papers with markets regulator Sebi for a preliminary public offer. The main market offering will include a fresh problem of Rs 165 crore and a sell of up to 5,142,067 shares, according to the draft file submitted with the marketplace regulator. The company is also in consultation with its book running supervisors to raise Rs 50 crore through a pre-IPO placement.The company will use the IPO proceeds for broadening its Dehradun Plant-- IV and adding injectables dose ability at the center at Dehradun Plant-II. It will also be used the funds for incremental working capital requirements, payment/ prepayment of borrowings and basic business purposes.Windlas Biotech is into domestic pharmaceutical formulations contract advancement and production service, and has four manufacturing centers located at Dehradun in Uttarakhand.SBI Capital Markets, DAM Capital and IIFL Securities are the book running lead supervisors to the general public problem.
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Rupee Vs Dollar Rate Today: At the interbank forex market, the domestic system opened at 72.96 against the dollar amid its previous close of 72.97, and swung in the range of 72.94 to 73.12 ...
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