Business


Presently, the nation's largest bank offers rates of interest starting from 2.9 per cent on repaired deposit of 7 days to 45 days and maximum rates of interest ... Rates of interest payable to SBI staff and SBI pensioners is 1% above the relevant rate.State Bank of India, the country's largest loan provider, provides rates of interest approximately 5.4 percent on repaired deposit of five years and as much as ten years on amount listed below Rs 2 crore, the Mumbai-based lender said on its website. Tenors for State Bank of India's repaired deposit accounts begin with a minimum of 7 days and increase to ten years, according to information on State Bank of India's website https://sbi.co.in. The State Bank of India modified its rate of interest on repaired deposits on January 8, 2021 and the rates mentioned listed below are on deposits not surpassing Rs 2 crore.Maturity PeriodInterest RatePublicSenior citizenSeven days to 45 days2.9%3.4%46 days to 179 days3.9%4.4%180 days to 210 days4.4%4.9%211 days to less than one year4.4%4.9%One year to less than two years5.0%5.5%Two years to less than three years5.1%5.6%Three years to less than 5 years5.3%5.8%5 years and approximately 10 years5.4%6.2%(Source: sbi.co.in)The rate of interest payable to SBI Staff and SBI pensioners will be 1.00 percent above the applicable rate. The rate applicable to all Senior Citizens and SBI Pensioners of age 60 years and above will be 0.50 per cent above the rate payable for all tenors, SBI said on its website.SBI repaired deposit holders can choose getting interest quantity on regular monthly, quarterly, half-yearly or annual basis, SBI included.
Details
Category: Business

Write comment (90 Comments)


Basiz Fund Services got authorisation from the International Financial Providers Centres Authority, to be signed up as a supplementary company with the IFSCA ...
Details
Category: Business

Write comment (95 Comments)


Procter - Gamble Health Share Cost: On Friday, Procter and Gamble Health opened on the BSE at Rs 6,040, seeing an intra day high of Rs 6,040, and an intra day low of Rs 5,700, so far ... Shares of Procter and Gamble Health were last trading 6.29 percent lower at Rs 5,876 on the BSE.Share price of Procter and Gamble Health Limited decreased more than six per cent on Friday, Might 7, a day after the company announced its January-March quarter results for the financial year 2020-21. On Friday, Procter and Gamble Health opened on the BSE at Rs 6,040, witnessing an intra day high of Rs 6,040, and an intra day low of Rs 5,700, in the session up until now. According to a regulative filing by the company to the stock exchanges, Procter - Gamble Health reported a net earnings of Rs 15.8 crore in the March quarter. (Also Check Out: Procter - Gamble Health Net Revenue Drops 66% To 15.8 Crore In March Quarter ) Procter And Gamble Health's net earnings decreased 66 percent in the March quarter at Rs 15.8 crore, compared to Rs 46.5 crore in the exact same quarter previous. The business recorded sales of Rs 214 crore in the March quarter of the fiscal year 2020-21, signing up a drop of 4 pe current, compared to the year-ago period.On the NSE, Procter and Gamble Health opened at Rs 5,930, touching an intra day high of Rs 5,949, and an intra day low of Rs 5,750, in the trading session so far. It was last trading 6.49 percent lower at Rs 5,870 on the NSE.Shares of Procter and Gamble Health were last trading 6.29 percent lower at Rs 5,876 on the BSE.
Details
Category: Business

Write comment (99 Comments)


Reliance Jio Infocomm uses 2GB daily mobile recharge plans starting at Rs 249 for credibility duration of 28 days ... Jio offerssix recharge plans which offer 2 GB/day high speed web data.Reliance Jio Infocomm, which offers cordless telecom services under the brand name Jio, uses 2GB per day mobile recharge strategies starting at Rs 249 for credibility period of 28 days. Presently, Jio uses six recharge plans which use 2 GB/day high speed internet data along with totally free voice calls, SMSes and subscription to Jio mobile applications and OTT applications like Disney+ Hotstar. Promoted by billionaire Mukesh Ambani, Reliance Jio, has interfered with the Indian telecom sector by releasing strongly priced recharge plans which provide a combination of inexpensive high speed internet information, free calls and membership to OTT applications, experts said.Reliance Jio Rs 249 Super Value Strategy: Reliance Jio's Rs 249 super worth recharge plan offers 2GB each day high speed internet information along with complimentary voice calls and 100 SMSes each day for a duration of 28 days. Apart from web and voice calls Jio likewise offers subscription to JioTV, Jio Movie Theater, JioSecurity, JioNews and JioCloud.Reliance Jio Rs 444 Recharge Strategy: Reliance Jio's Rs 444 recharge plan offers 2GB each day high speed web information together with complimentary voice calls and 100 SMSes per day for a period of 56 days. Apart from web and voice calls Jio also provides subscription to JioTV, Jio Movie Theater, JioSecurity, JioNews and JioCloud.Reliance Jio's Rs 599 Recharge Plan: Reliance Jio's Rs 599 recharge strategy provides 2GB per day high speed internet data along with free voice calls and 100 SMSes each day for a duration of 84 days. Apart from web and voice calls Jio likewise uses subscription to JioTV, Jio Movie Theater, JioSecurity, JioNews and JioCloud.Reliance Jio's Rs 2,399 Recharge Plan: Reliance Jio's Rs 2,399 recharge plan uses 2GB per day high speed internet data in addition to free voice calls and 100 SMSes daily for a period of 365 days. Apart from internet and voice calls Jio likewise uses subscription to JioTV, Jio Movie Theater, JioSecurity, JioNews and JioCloud.Reliance Jio's Rs 2,599 Recharge Plan: Reliance Jio's Rs 2,599 recharge strategy offers 2GB per day high speed web data together with free voice calls and 100 SMSes daily for a duration of 365 days. Apart from internet and voice calls Jio also provides subscription to Disney+ Hotstar, JioTV, Jio Cinema, JioSecurity, JioNews and JioCloud.
Details
Category: Business

Write comment (99 Comments)


Dabur India Q4 Results: Dabur India Limited reported a 34 percent rise in net earnings on a combined basis to Rs 378 crore in the January-March quarter of financial 2020-21 ...
Details
Category: Business

Write comment (94 Comments)


Confederation of All India Traders required an extension of compliances under the Item and Solutions Tax (GST) and Income Tax by three months from the main government ... CAIT also sought that challan needs to be dealt with as a file of payment and not form GSTR-3 B under GSTAmid the second wave of the COVID-19 crisis in the nation, the traders' body - Confederation of All India Traders or CAIT has required an extension of compliances under the Product and Services Tax (GST) and Earnings Tax by 3 months from the central federal government. In a letter resolved to Finance Minister Nirmala Sitharaman outdated Might 7, the Confederation of All India Traders stated that in the previous 40 days, a loss of Rs 7 lakh crore is reported in the non-corporate sector, according to quotes. (Also Read: Second COVID-19 Wave Presents Downside Danger To Economic Activity: Finance Ministry )The non-corporate sector includes transporters, traders, start-ups, self-employed individuals. The confederation likewise specified that street vendors, hawkers, small stores, and people associated with similar activities have actually likewise suffered a substantial loss in business.The trader's body which represents around 8 crore traders throughout 40,000 trade associations in the country, requested the Finance Minister to extend all statutory dues under the GST and Earnings Tax - in which either tax has to be paid or return has to be filed, by August 31, 2021. As part of seeking COVID relief amidst the second wave, the trader's body also sought that challan must be dealt with as a document of payment and not form GSTR-3 B under the GST. This will result in taxpayers paying taxes early and the federal government will also get taxes on time.Meanwhile, the Ministry of Finance today said in its Monthy Economic Evaluation Report for April 2021, that the second wave of COVID-19 postures a disadvantage threat to the economic activity in the fist quarter of the present fiscal year 2021-22. The report mentions that the government expects a soft financial effect of the 2nd COVID-19 wave, compared to the first one last year.
Details
Category: Business

Write comment (94 Comments)

The country's largest car maker said on Saturday it was extending a planned maintenance shutdown until May 16 from May 9 citing the COVID-19 pandemic....
Details
Category: Business

Write comment (96 Comments)


Japan's second-biggest steelmaker JFE Holdings will study the feasibility of forming a joint venture with its Indian partner JSW Steel to make and sell electro-magnetic steel sheet utilized in transformers ...
Details
Category: Business

Write comment (100 Comments)

Eight of 11 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty Metal index's over 4 per cent gain....
Details
Category: Business

Write comment (96 Comments)


In Kolkata, petrol was sold at Rs 91.41 per lutre and diesel was cost Rs 84.57 per litre. In Chennai, petrol was cost Rs 93.15 per litre and diesel was retailed at Rs 86.65 per litre ... Gas and diesel prices were kept unchanged for 2nd day in a row by Indian Oil.Petrol, diesel costs today: Fuel and diesel costs were kept unchanged for 2nd day in a row by the nation's biggest fuel retailer - Indian Oil - on Sunday, May 9. Fuel was priced at Rs 91.27 per litre and diesel was sold at Rs 81.73 per litre in Delhi, according to Indian Oil. Currently, gas and diesel prices are greatest in the monetary capital of the country. Fuel in Mumbai was retailed at Rs 97.61 per litre while diesel was sold at Rs 88.82 per litre.In Kolkata, gas was cost Rs 91.41 per lutre and diesel was sold at Rs 84.57 per litre. In Chennai, gas was sold at Rs 93.15 per litre and diesel was retailed at Rs 86.65 per litre.The state-run oil marketing companies consisting of, the Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum, line up the rates of domestic fuel with the international crude oil costs by taking into consideration modifications in the foreign exchange rates. The brand-new changes in fuel costs are implemented with result from 6 am every day.Oil costs settled lower on Thursday, reversing early gains under pressure from increasing COVID-19 infections in India and elsewhere although prices kept some support from a report a day earlier that United States crude stocks fell more dramatically than expected.Brent crude oil settled lower by 87 cents, or 1.3 per cent, at $68.09 a barrel. West Texas Intermediate (WTI) United States crude futures dropped 92 cents, or 1.4 per cent, to $64.71.
Details
Category: Business

Write comment (99 Comments)


These high-horsepower electric locomotives help to decongest the saturated tracks by improving the average speed and the loading capability of freight trains operating on the network ... The 100th electrical engine is named WAG 12 B with number 60100, stated the Train Ministry.Indian Railways authorities inducted the 100th 'Made in India' electric engine or e-loco in its fleet on Thursday, Might 6, which was integrate in the country's biggest incorporated greenfield producing centers. These electric locomotives of 12,000 horsepower (HP) are the country's most powerful indigenous engines, which have currently covered more than 4.8 million kilometers, hauling numerous products across 17 states and two union areas. According to a recent statement launched by the Train Ministry, the e-locos are a part of the government's 'Make in India' initiative. (Also Read: Alstom Delivers 100th Electric Engine As Part Of Biggest FDI In Indian Trains )The national transporter had entered into a procurement cum maintenance contract with the Madhepura Electric Engine Private Limited - one of the nation's biggest incorporated greenfield making centers, positioned in Madhepura in Bihar. The 100th electrical locomotive is named WAG 12 B with number 60100, said the Train Ministry. These high-horsepower electrical locomotives assist to decongest the saturated tracks by improving the average speed and the packing capacity of freight trains running on the network.The engines of these e-locos will increase the speed of freight transportation to two times quicker. The WAG 12B locomotive is installed with insulated gate bipolar transistors or IGBT-based propulsion innovation and makes use of regenerative braking, which decreases the consumption of energy. The engines remanufactured with a Bo-Bo design having 22.5 tonnes of axle load, which is upgradable to 25 tonnes. The e-locos have a design speed of 120 km per hour. The electrical locomotives can likewise be tracked through the international positioning system (GPS) for its strategic use through ingrained software and also, an antennae being lifted through the servers on the ground through a microwave link.
Details
Category: Business

Write comment (97 Comments)


Passenger traffic fell almost 30 percent in April from a month previously and has actually halved once again up until now in May ... India's airlines are under restored pressure to raise cash or deal with the risk of needing to scale down, combine or have their airplanes repossessed by lessors as a rise of COVID-19 infections roils travel.Passenger traffic fell almost 30 percent in April from a month before and has actually cut in half once again up until now in May, requiring even the country's greatest and most cashed-up provider, IndiGo, to prepare for the storm.IndiGo's moms and dad, Interglobe Aviation, will meet on Friday to think about an equity raising, just months after it abandoned plans to raise approximately Rs 4,000 crore ($543 million) in January due to a rapid healing in travel.With traffic dropping, according to air travel ministry information, IndiGo's cash burn is expected to increase to $3.4 million a day - a level last seen in September - from $2 million a day at the end of 2020, said an expert who tracks the company.This implies IndiGo, which has more than a 50 percent share of the marketplace, might seek to raise $543 million to $679 million amounting to at least two quarters of money burn, said the expert, who declined to be called as he was not authorised to speak publicly.While IndiGo is seen as a survivor, the scenario is far even worse for a suite of smaller providers, especially those without big backers, a few of which were currently struggling before the coronavirus hit, say analysts. India hasn't provided much government assistance or support so the personal airlines will need to turn to the private sector, stated independent air travel analyst Brendan Sobie.The money call comes as providers are anticipated to report overall losses of $4-$4.5 billion in the fiscal year that ended on March 31 and will lose a comparable quantity this year, aviation consultancy CAPA India stated in a note this week.With more individuals losing loved ones and the outlook on the economy, tasks and earnings rejecting, a recovery in domestic travel, which had actually been anticipated by the end of 2021, might not come until at least the very first quarter of 2022, analysts estimate.To make matters worse, several nations consisting of the United States and Britain with whom India has actually had bilateral arrangements to run charter flights have limited arrivals due to high infection rates.The charters offered a lucrative profits stream for local providers after the federal government shut down routine worldwide flights when the pandemic hit. A recovery in international traffic to pre-COVID levels is anticipated just by 2024, according to CAPA.Lessors Less ForgivingSmaller providers like SpiceJet Ltd and privately owned GoAir could come under pressure to reduce capability, discover partners or combine, experts state, especially as aircraft lessors take a harder line.CAPA expects 250-300 planes to be grounded in the very first half of the existing fiscal year, while lessors may not be as patient as in 2015 in enabling delayed repayments now air travel is resuming in places such as the United States and China. There is now more demand for aircraft, and they would rather have the property back than let airlines utilize it totally free and diminish it, stated Sanjiv Kapoor, former primary commercial officer of Indian airline Vistara.Debt forgiveness is likewise unlikely. Lessors are joined in not crossing out airline debts which will not change, as some are likewise under severe threat of insolvency, stated Shukor Yusof, head of aviation consultancy Endau Analytics.GoAir prepares to raise up to Rs 2,500 crore through a going public, regional media reported in March, however as the COVID-19 scenario worsens the tourist attraction for financiers ends up being less clear.While IndiGo, which took delivery of 44 new airplanes from Airbus last year, has not delayed lease payments, SpiceJet had actually missed payments even prior to COVID-19 hit, according to renting industry sources, and its monetary accounts mention it has actually postponed payments during the crisis.GoAir and SpiceJet did not instantly respond to an ask for comment.Any providers that have airplanes repossessed will struggle when the market picks up. While CAPA says combination is inescapable, potentially resulting in a 2-3 airline company system, other experts say it is still too early to predict an outcome. This ideally will be a momentary problem for all airlines. We will need to see if all the players will be able to weather the storm, said Sobie.
Details
Category: Business

Write comment (93 Comments)


Ultra Tech Cement Q4 Outcomes: The business's profits grew by 32 per cent to Rs 14,405.61 crore in the March quarter, compared to Rs 10,854.48 crore in year-ago duration ...
Details
Category: Business

Write comment (96 Comments)


Earlier, the Reserve Bank of India (RBI) had actually extended the money credit limit (CCL) for Punjab for the ongoing wheat procurement season ... The RBI had actually extended the CCL of Rs 2,953.46 crore till the end of May.Over 125 lakh metric tonne wheat has been acquired in Punjab so far in the ongoing rabi marketing season. An amount of Rs 21,472 crore has been paid to the farmers so far, Chief Minister Amarinder Singh said on Friday. I enjoy to share that regardless of the challenge of #COVID -19, we have acquired more than 125 Lakh MT wheat till date and paid Rs 21,472 crore to our farmers, Singh stated in a tweet.He even more said, Our procurement companies are striving to make sure timely lifting and payment. A few days earlier, Punjab Food, Civil Supplies and Consumer Affairs Minister Bharat Bhushan Ashu had stated the state federal government is anticipating a total arrival of 130 lakh tonne of crop.Earlier, Reserve Bank of India (RBI) had extended the cash credit limit (CCL) for Punjab for the ongoing wheat procurement season. The RBI had actually extended the CCL of Rs 2,953.46 crore till completion of May.With this, the sanctioned limitation of Rs 21,658.73 crore had actually been improved to Rs 24,612.19 crore, a state federal government declaration had said here previously.
Details
Category: Business

Write comment (96 Comments)

The second wave of Covid-19 in India poses a downside risk to economic activity in the first quarter of FY22, the Finance ministry has said in its Monthly Economic Review Report for April 2021...
Details
Category: Business

Write comment (90 Comments)


The share of US dollar assets in reserve bank reserves dropped by 12 percentage points-- from 71 to 59 per cent-- given that the euro was introduced in 1999 ... The share of US dollar reserves held by reserve banks was up to 59 per cent-- its most affordable level in 25 years-- throughout the 4th quarter of 2020, according to a current study by the International Monetary Fund (IMF). Findings of the IMF's Currency Composition of Official Forex Reserves (COFER) survey state this partly shows declining function of United States dollar in international economy in the face of competitors from other currencies used by reserve banks for worldwide transactions.If the shifts in central bank reserves are big enough, they can affect currency and bond markets, said Serkan Arslanalp, Deputy Division Chief in balance of payments division of IMF's data department, and economic expert Chima Simpson-Bell. The share of US dollar possessions in reserve bank reserves visited 12 percentage points-- from 71 to 59 per cent-- given that the euro was released in 1999, they stated in a blogpost posted on IMF's website.Meanwhile, the share of the euro has actually changed around 20 percent while the share of other currencies including Australian dollar, Canadian dollar and Chinese renminbi climbed to 9 per cent in the 4th quarter. The truth that worth of US dollar has actually been broadly the same while its share of worldwide reserves has actually declined shows that main banks have undoubtedly been shifting gradually away.Some expect that United States dollar's share of worldwide reserves will continue to fall as emerging market and developing economy central banks look for more diversity of currency composition of their reserves. A few nations like Russia have currently announced their intent to do so.Despite major structural shifts in worldwide financial system over the previous 6 decades, United States dollar stays the dominant worldwide reserve currency. Any changes to its status are most likely to emerge in the long run.
Details
Category: Business

Write comment (90 Comments)


Healthcare facilities can be among the greatest beneficiaries as incremental financing can possibly increase bed capability in the country by 15 to 20 per cent, said Crisil Ratings ...
Details
Category: Business

Write comment (94 Comments)


Hero MotoCorp's income from operations advanced 39% to Rs 8,686 crore from Rs 6,238 crore during the March quarter of 2020 ... Hero MotoCorp shares fell as much as 3.17 per cent.Shares of the world's largest two-wheeler maker Hero MotoCorp fell as much as 3.17 percent, on account of profit-booking, to strike an intraday low of Rs 2,820.50, a day after it reported March quarter profits. Hero MotoCorp's net profit rose 39 percent to Rs 865 crore from Rs 621 crore throughout the exact same quarter last year.Its profits from operations advanced 39 per cent to Rs 8,686 crore from Rs 6,238 crore throughout the March quarter of 2020. Its operating earnings or incomes prior to interest, tax, devaluation and amortization (EBITDA) stood at Rs 1,211 crore showing 13.9 EBITDA margin.During the quarter Hero MotoCorp sold 15.68 lakh systems of motorbikes and scooters registering a development of 18.5 percent over the corresponding quarter in the previous year. The business had actually offered 13.23 lakh units in Q4FY20.Hero MotoCorp proposed dividend of Rs 25 per share and an unique dividend of Rs 10 per share. This dividend together with the Interim dividend, aggregates to Rs 90 per equity share and special dividend of Rs. 15 per equity share, taking the total dividend for the year 2020-21 to Rs 105 per share i.e 5,250 per cent, Hero MotoCorp stated in a news release. In 2020, as the restrictions were lifted, Hero MotoCorp managed to contain the impacts of the pandemic on its service and financial performance. Thanks to tactical efforts such as a strict discipline on expenses and prioritization of jobs, we succeeded in considerably lowering basic overhead costs and capex. Our tight working capital management has actually further assisted in ensuring the much needed liquidity buffer in these times. Impressive teamwork and timely steps assisted us put the business on a steady course of recovery and ultimate growth, Niranjan Gupta, Chief Financial Officer (CFO), Hero MotoCorp, stated in a statement.As of 12:48 pm, Hero MotoCorp shares traded 2.4 per cent higher at Rs 2,843, underperforming the Sensex which was up 0.4 per cent.
Details
Category: Business

Write comment (94 Comments)


Anupam Rasayan released a letter of intent to set up solar power by investing a sum of Rs 43 crore. The whole capital investment will be moneyed from the business's just recently concluded IPO profits ... The size of the solar energy plant will be 12.5 megawatts.Speciality chemicals business Anupam Rasayan has issued a letter of intent to set up solar power by investing an amount of Rs 43 crore. The whole capital investment will be funded from the business's just recently concluded IPO proceeds. The size of the plant will be 12.5 megawatts. Handling Director Anand Desai stated the solar plant will assist the business rationalise its energy costs through an estimated saving of Rs 10 crore per annum for the next 25 years. This is a substantial step in terms of making sure undeterred power supply and transitioning towards a cleaner source of energy, he stated. It is important for market players like us to be price-sensitive along with minimise carbon footprints. The business makes products for more than 53 domestic and international consumers, consisting of 17 multinationals.Anupam Rasayan has two verticals: life science associated specialty chemicals consisting of products connected to agro-chemicals, individual care and pharmaceuticals, and other specialized chemicals consisting of specialized pigment and dyes besides polymer ingredients. It currently operates out of six multi-purpose production centers based in Gujarat with an aggregate installed capability of 23,438 tonnes.The business has clients like Syngenta Asia Pacific, Sumitomo Chemical Business and UPL Ltd throughout Europe, Japan, the United States and India. Anupam Rasayan began operations in 1984 with traditional items and has now carved a specific niche for itself into speciality chemicals that involve multi-step synthesis and complex chemistries such as etherification, acylation, cyclisation, diasotisation and hydrolysis.
Details
Category: Business

Write comment (99 Comments)


Rupee vs Dollar Today: At the interbank foreign exchange market, the regional unit opened at 73.62 and experienced an intra day high of 73.50 ... Rupee Vs Dollar Today: The rupee settled at 73.51 versus the dollarGaining for the 2nd straight session, the rupee edged higher by 27 paise versus the United States dollar on Friday, May 6, to settle at 73.51 (provisionary), tracking positive domestic equities and a weaker American currency. At the interbank forex market, the regional system opened at 73.62 and witnessed an intra day high of 73.50. It signed up a low of 73.76. In an early trade session, the domestic unit increased 16 paise to 73.60 against the greenback. The domestic currency closed at 73.51, tape-recording a gain of 27 paise over its previous close.The rupee saw a volatile session throughout the week. On Thursday, May 6, the local unit settled at 73.78 against the dollar. On Wednesday, May 5, the domestic unit snapped its two-day winning streak and edged lower by 6 paise to close at 73.91 against the greenback. On Tuesday, May 4, the regional system gained 10 paise to settle at 73.85 against the dollar. The dollar index, which assesses the greenback's strength versus a basket of 6 currencies, slipped 0.19 per cent to 90.78. The USDINR area has continued the drop and has actually lacked enthusiasm ahead of US NFP information. The main factor is traders are focusing on worldwide recovery and boost in vaccination drives in the euro zone. Likewise, appears like the local fx market has likely factored in the sluggish economic recovery amidst intensifying coronavirus cases in India, but still some cautious sentiments prevail, stated Mr. Rahul Gupta, Head Of Research- Currency, Emkay Global Financial ServicesNext week's USDINR trading range will mainly depend on how DXY reacts to NFP data. If improving economic data stirs inflation worries and causes expectations that the Fed will decrease financial stimulus, that could enhance US yields and the dollar, added Mr Gupta. The RBI's dollar selling intervention was passive in nature, as the sell-side dollar intervention would drain pipes rupees from the system. Technically USD/INR offered a gap-down opening today listed below the assistance levels formed in the other day's session and tried to breach the exact same however were unable to sustain above it and quickly evaluated resistance at the Bearish trend line, after which we saw a sharp fall and took support in 74.00-73.90, said Kshitij Purohit, Lead International Products - Products at CapitalVia Global Research Limited. If this support zone likewise gets breached with ample quantities of volume, we may witness rates falling down to 73.80-73.70 zone, on the contrary if prices formed strong assistance here, and gave a bounce back from 74.00-73.90 zone, it might get challenged on the advantage in the series of 74.15-74.25, included Mr Purohit.On the domestic equity market front, the BSE Sensex ended 256.71 points or 0.52 percent greater at 49,206.47, while the more comprehensive NSE Nifty climbed 98.35 points or 0.67 per cent to 14,823.15. Since the last couple of weeks, on a weekly closing of the market, the Nifty/Sensex failed to sustain at higher levels. The marketplace breadth was healthy when it opened however due to some profit-taking in financials, Auto and Innovation companies, the Nifty closed at opening levels. It has actually formed an indecisive development on an everyday chart, however, on a weekly basis, Nifty/Sensex gained 400/1200 points from the lowest levels, said Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities. The Nifty-50 handled to climb the wall of concerns and has posted weekly gains of ~ 1.3%. Indian markets are seeing wild swings in the face of rising Covid-19 cases that have prompted several states to extend constraints on motion by 1-2 weeks. The broader markets are seeing excellent action due to the outcome season. Both, NSE MidCap and BSE Small Cap Index have surpassed the Nifty-50 today, said Rusmik Oza, Executive Vice President, Head of Essential Research Study at Kotak Securities.According to exchange data, the foreign institutional financiers were net purchasers in the capital market on May 6 as they acquired shares worth Rs 1,222.58 crore. Brent crude futures, the international oil benchmark, fell 0.16 percent to $ 67.98 per barrel.
Details
Category: Business

Write comment (100 Comments)


Tata Customer Products reported a combined net revenue of Rs 133.34 crore for March quarter as against a loss of Rs 50 crore in year-ago period ...
Details
Category: Business

Write comment (96 Comments)


Petrol, Diesel Prices Today, May 08, 2021: In the nationwide capital, petrol is being cost 91.27 per litre and diesel is priced at Rs 81.73 per litre, according to Indian Oil Corporation ... Fuel Rates Today: Both gas and diesel rates stayed stable today throughout all metrosAfter four successive days of price hike, petrol and diesel rates remained constant on Saturday, May 8 across the city cities. In the nationwide capital, petrol is being cost Rs 91.27 per litre and diesel is priced at Rs 81.73 per litre, according to Indian Oil Corporation. In Mumbai, the revised rates of fuel and diesel stand at Rs 97.61 per litre and Rs 88.82 per litre respectively, according to the state-run oil refiner. Currently, fuel prices are the highest in Mumbai amongst the four metro cities. Gas and diesel prices vary throughout states in India due to the value-added tax or BARREL. (Also Read: How To Find Most Current Gas, Diesel Rates In Your City)The state-run oil marketing companies consisting of, the Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum, align the rates of domestic fuel with the global petroleum prices by taking into account modifications in the foreign exchange rates. The new changes in fuel prices are carried out with effect from 6 am every day.meanwhile, on Friday, Might 7. brent crude futures, the global oil benchmark, fell 0.16 per cent to $ 67.98 per barrel. The rupee edged higher by 27 paise to settle at 73.51 (provisional) against the US dollar on Friday.
Details
Category: Business

Write comment (98 Comments)


Mid- and small-cap shares ended on a mixed note as Nifty Midcap 100 index fell 0.3 per cent and Nifty Smallcap 100 index advanced 0.8 per cent ... The Indian equity benchmarks logged in third straight day of gains led by strong purchasing interest in metal shares, HDFC, HDFC Bank, Tata Consultancy Providers, Bharti Airtel and ITC despite domestic coronavirus cases clocking another record daily increase. The benchmarks staged a space up opening in which the Sensex rose as much as 468 points and Nifty 50 index touched an intraday high of 14,863.05. The Sensex ended 257 points or 0.52 percent higher at 49,206 and Nifty 50 index advanced 98 points to close at 14,823. Flushed with liquidity, the stock exchange looked past a record everyday rise in domestic coronavirus cases of 414,188 which took the overall tally to 21.49 million. Several states have gone into lockdowns to suppress the spread, which has actually led financial experts to cut development expectations for Asia's third-largest economy. The market saw extension in the trend that started the other day after breaching the crucial level of 14,700. The rally might continue till the level of 14,90, Ashis Biswas, head of technical research study at CapitalVia Global Research study told TheIndianSubcontinent.Buying was visible throughout the board as all the 11 sector assesses assembled by the National Stock market ended greater led by the Nifty Metal index's 5 per cent gain. Cool Media, Financial Providers and Real estate indices likewise rose between 0.7-1 per cent.Mid- and small-cap shares ended on a blended note as Nifty Midcap 100 index fell 0.3 per cent and Nifty Smallcap 100 index advanced 0.8 per cent.Metal shares including Tata Steel, Hindalco and JSW Steel surged to their respective brand-new highs on increasing product prices.HDFC advanced over 2.5 per cent to close at Rs 2,438.40 after its revenue increased 42 percent to Rs 3,180 crore.Adani Ports, Bajaj Finserv, Indian Oil, Mahindra - & Mahindra, NTPC, Bharti Airtel, Coal India, UltraTech Cement and ITC also increased between 1.6-3.9 per cent.On the flipside, Tata Consumer Products, Hero MotoCorp, Bajaj Vehicle, Eicher Motors, UPL, Bajaj Financing, Divi's Labs, Infosys, Power Grid, Kotak Mahindra Bank, Titan and Reliance Industries were amongst the losers.
Details
Category: Business

Write comment (92 Comments)


Gold futures agreements for delivery in June rose as much as 0.36 per cent to strike an intraday high of Rs 47,770 on the Multi Product Exchange (MCX)... Silver futures prices for shipment in July dropped as much as 0.31 per cent.Gold, Silver Rate Today: Gold futures contracts for delivery in June rose as much as 0.36 percent to strike an intraday high of Rs 47,770 on the Multi Product Exchange (MCX). In the spot market 24 carat gold also referred to as great gold was sold at Rs 46,999 per 10 gram, according to India Bullion and Jewellers Association (IBJA). Gold with 22 carat pureness was sold at Rs 45,390 per 10 gram, 18 carat gold was retailed at Rs 37,590 and 14 carat gold was priced at Rs 31,250 per 10 gram, IBJA noted on its website.In the international markets, gold rates on Friday hovered near a 2-1/2-month high and were on track for their finest week in five months, assisted by a weaker dollar and a pullback in Treasury yields as investors meticulously await U.S. non-farm payrolls report due later on in the day.Spot gold was stable at $1,815.88 per ounce by 8:15 am, after striking its highest considering that February 16 at $1,817.90 in the previous session. Bullion is up more than 2.5 percent so far this week.US gold futures were bit altered at $1,816.40. Lower bond yields typically reduce the opportunity cost of holding non-interest bearing gold.Back home, silver futures costs for shipment in July dropped as much as 0.31 percent to strike an intraday low of Rs 71,454 per kilogram. In the spot market, silver was cost Rs 68,835 per kg, according to IBJA.In global markets, silver gained 0.3 percent to $27.26 per ounce and was up more than 5 percent today. Platinum was stable at $1,252.24.
Details
Category: Business

Write comment (92 Comments)

On May 5, the RBI announced an on-tap liquidity window of Rs 50,000 crore with a tenor of three years that can be provided by banks for lending support to entities like hospitals, diagnostics, etc...
Details
Category: Business

Write comment (99 Comments)


Adani Transmission Share Rate: On Friday, Adani Transmission opened on the BSE at Rs 1,160, witnessing an intra day high of Rs 1,187.60 and an intra day low of Rs 1,140.10, up until now ... Shares of Adani Transmission were last trading 4.29 percent higher at Rs 1,179.60 on the BSE.Share cost of Adani Transmission acquired more than four per cent on Friday, May 6, a day after announcing its January-March quarter results for the fiscal year 2020-21. On Friday, Adani Transmission opened on the BSE at Rs 1,160, witnessing an intra day high of Rs 1,187.60 and an intra day low of Rs 1,140.10, in the session up until now. On the NSE, Adani Transmission opened at Rs 1,163, touching an intra day high of Rs 1,182.80 and an intra day low of Rs 1,133, in the trading session so far. It was last trading 4.75 per cent higher at Rs 1,180 on the NSE.Shares of Adani Transmission were last trading 4.29 per cent greater at Rs 1,179.60 on the BSE.
Details
Category: Business

Write comment (90 Comments)


Nuvoco Vista IPO will include a fresh concern of shares worth approximately Rs 1,500 crore and a market amounting to Rs 3,500 crore ...
Details
Category: Business

Write comment (90 Comments)


This exemption for getting money payment of over Rs 2 lakh amidst COVID-19 treatment is made just for the period between April 1 -May 31, 2021, stated the Earnings Tax department ... Exemption for receiving cash payment of over Rs 2 lakh is made just between April 1-May 31In order to provide relief amid the ongoing second wave of the COVID-19 pandemic in the country, the Income Tax (I-T) department announced that health centers and nursing homes can now accept cash payments of Rs 2 lakh or more for the treatment of coronavirus-infected patients till May 31, 2021. (Also Read: Earnings Tax Compliance Deadlines Extended In The Middle Of New COVID-19 Wave )In a current notice, the I-T department stated that health centers, nursing houses, COVID care centres, or similar other medical centers offering treatment for coronavirus can accept cash payment of Rs 2 lakh or more after receiving valid identity evidence such as PAN card or Aadhaar of the client and the payee and the relationship between the patient and the payee by such health care facilities.The notice further said that health centers, dispensaries, nursing homes, COVID-19 care centres, or similar other health care centers providing treatment for coronavirus are being defined for the purpose of section 269ST of the Earnings Tax Act.This area of the Earnings Tax Act limits any person from getting a quantity of Rs 2 lakh or more in money, from an individual in a day, in respect of a single deal or in regard of transactions associating with one occasion or occasion from a person. The standard was presented by the central federal government in 2017 as a step to curb black money.This exemption for receiving cash payment of over Rs 2 lakh amid COVID-19 treatment is made only for the duration between April 1 - May 31, 2021, stated the Income Tax department. (Likewise Check Out: Traders' Body Seeks GST, Earnings Tax Relief Amidst COVID-19 Second Wave )According to the health ministry information updated on Saturday, May 8, the country - fighting versus the lethal COVID-19 wave, registered a record 4,187 deaths and as lots of as 4,01,078 brand-new COVID-19 cases in the last 24 hours.
Details
Category: Business

Write comment (95 Comments)


HDFC's net interest earnings (NII) for the quarter ended March 31, 2021 stood at Rs 4,065 crore compared to Rs 3,564 crore in the previous year ... HDFC shares increased as much as 3.14 per cent to strike an intraday high of Rs 2,507. The nation's biggest home mortgage lender, HDFC, on Friday, April 7, reported net revenue of Rs 3,180 crore in quarter ended March 2021, that marked an increase of 42 per cent from Rs 2,233 crore in the very same quarter in 2015. Its interest income, however, declined 5 percent to Rs 10,446 crore from Rs 10,963 crore in the corresponding duration year earlier. (Track HDFC share rate here)HDFC's net interest income (NII) for the quarter ended March 31, 2021 stood at Rs 4,065 crore compared to Rs 3,564 crore in the previous year, representing a growth of 14 percent. NII for the year ended March 31, 2021 stood at Rs 15,172 crore compared to Rs 12,904 crore in the previous year, representing a growth of 18 percent. The demand for mortgage continued to stay strong owing to low rate of interest, softer property costs, concessional stamp task rates in specific states and continued financial rewards on home loans. During the quarter ended March 31, 2021, specific loan dispensations grew by 60 percent over the corresponding quarter of the previous year. The month of March 2021 saw the greatest levels in terms individual invoices, approvals and dispensations. Development in mortgage was seen in both, the inexpensive real estate section in addition to high-end homes, HDFC said in a press release.The average size of specific loans paid out throughout the year ended March 31, 2021 stood at Rs 29.5 lakh compared to Rs 27 lakh in the previous year. There was an uptick in the typical ticket size throughout the quarter ended March 31, 2021 to Rs 31.4 lakh, attributable to the demand for higher end homes, specifically in the metro cities. As at March 31, 2021, the loans on a properties under management (AUM) basis stood at Rs 5,69,894 crore as versus Rs 5,16,773 crore in the previous year, the country's largest mortgage lending institution said.Overall collection effectiveness ratios for individual loans have enhanced, nearing pre-COVID levels. The collection performance for individual loans in the month of March 2021 stood at 98.0 percent compared to 96.3 percent in the month of September 2020. The gross non-performing loans as at March 31, 2021 stood at Rs 9,759 crore. This is comparable to 1.98 percent of the loan portfolio. The non-performing loans of the specific portfolio stood at 0.99 percent while that of the non-individual portfolio stood at 4.77 per cent, HDFC added.The company's board suggested dividend of Rs 23 per share.Following the incomes announcement, HDFC shares rose as much as 3.14 percent to strike an intraday high of Rs 2,507.
Details
Category: Business

Write comment (92 Comments)


Asian markets were mixed on Friday, with Japan's Nikkei 225 shedding 0.29 per cent and Topix index trading near flat. Kospi increased 0.15 percent and ASX 200 traded fractionally higher ...
Details
Category: Business

Write comment (94 Comments)