Sensex Rises 190.11 Points to End at 30,133.35. Nifty Closes at 9,351.85
Benchmark Sensex closed above the 30,000-mark for the first time on Wednesday, while the Nifty too finished at a record high on sustained buying amid positive global cues.
Markets at All-time High, Rupee at 2-Yr High on Hopes of Stability, Reforms
India's benchmark BSE Sensex rose as much as 0.4 percent to hit a record high on Wednesday, surpassing its previous milestone hit in March 2015, while the rupee hit a 20-month against the dollar.
Rupee Near 20-month High; Surges 29 Paise
The rupee rallied 29 paise to trade at nearly 20-month high of 63.97 against the dollar in late morning deals due to persistent selling of the American currency by banks and exporters.
Nifty Scales Lifetime High, Sensex Nears 30,000-mark
The BSE 30-share Sensex surged 287 points to end at a three-week high of 29,943.24, after shuttling between 29,961.82 and 29,780.84. The gauge had gained 290.54 points yesterday.
Govt Looking Into Bad Loans Issue as a Top Priority: Arun Jaitley
The Reserve Bank of India has come out with several guidelines and schemes under which the banks have been empowered, Jaitley said.
Consultation Paper on Spectrum Auction in 15 Days: Trai
Telecom regulator Trai expects to start the consultation process for the next round of spectrum auction in about a fortnight.
Sensex Climbs 168 Points on RIL Earnings, Positive Global Cues
This apart, a firming trend in other Asian markets, taking strong cues from the US and European markets following Emmanuel Macron's first round presidential election win in France, boosted trading sentiments
Where Would Apple, IBM be if Not For Talent From Across Globe: RBI Governor
Patel said the calls for protectionism in the US were on account of equity and domestic distribution issues which"textbook economics tells us should be addressed through domestic fiscal policy" such as taxation and income transfers.
Rupee up 10 Paise at 64.34 Due to Increase in Dollar Selling
The rupee strengthened by 10 paise to 64.34 against the US dollar in early trade on Tuesday on increased selling of the American currency by banks and exporters.
Waiving Agricultural Loans Could Cost 2 Percent of India's GDP: CEA
Chief Economic Advisor Arvind Subramanian has expressed concern over the recent waiving of farmers' loans by state governments in India, saying it could increase the deficit by two per cent of the GDP if the practice is carried out nationwide.
You Can Withdraw 90 Percent EPF to Buy Home, Pay EMI From Account
Over four crore subscribers of the retirement fund body EPFO can now make down payment and pay EMIs from their EPF accounts to buy homes.
India Helps LinkedIn Cross 500-million Member Milestone
Professional networking platform LinkedIn has crossed the 500-million mark globally, helped by strong addition in user base from markets like India.
Maruti Seeks to Revive Growth in Compact Sedan Segment With New Dzire
Car market leader Maruti Suzuki India (MSI) is seeking to revive growth in compact sedan segment in the country with the launch of its third generation Dzire next month.
TCS, Infosys Accounted for Only 8.8 Percent of Total H-1B Visas: Nasscom
IT industry body Nasscom on Monday came out in defence of its members TCS and Infosys, saying the two accounted for only 7,504 -- 8.8 per cent -- of the approved H-1B visas in 2014-15.
RIL's March Quarterly Earnings Beat Expectations, Profits up by 1.6%
Reliance Industries' quarterly earnings beat analysts' expectations on Monday as profit grew by 1.6 percent sequentially on standalone basis to Rs 8,151 crore for January-March quarter.
Sensex Bounces 291 Points on Earnings, Rally in European Shares
Market benchmark Sensex rebounded 291 points on Monday, its biggest single session gain in nearly 6 weeks, to end at a two-week high of 29,656 ahead of RIL quarterly results, coupled with positive global cues.
Kalaari Capital 'Has Okayed' Snapdeal Sale to Flipkart
The move was being stalled by the early investors as they valued the company at its peak value of $6.5 billion.
Bihar Legislative Assembly Unanimously Adopts Goods and Services Tax Bill
Taking a swipe at BJP and more particularly Prime Minister Narendra Modi, Yadav said "as a Chief Minister of Gujarat Narendra Modi was opposed to GST but after his elevation to post of PM he came in support of it." Leader of Opposition Prem Kumar lauded the prime minister for the historic GST legislation which he said would help in checking corruption and pave way for more investment.
India Set to Export Mangoes to Australia For the First Time
The report quoted Kaushal Khakhar, chief executive of Kay Bee Exports, as saying that all shipments to Australia would be sent by air, and the company would initially focus on exporting the Alphonso and Kesar varieties of mango.
Rupee Gains 12 Paise Against US Dollar
Meanwhile, the benchmark BSE Sensex rose 97.06 points, or 0.33 per cent, at 29,462.36 in early trade today.
Sensex up 97 Points in Early Trade Ahead of RIL Earnings
The BSE benchmark Sensex gained over 97 points in early trade on Monday as investors took to optimistic buying ahead of Reliance Industries' quarterly earnings amid firm Asian cues.
Delay in Quota Reforms to Erode IMF's Credibility, Says Arun Jaitley
Finance Minister Arun Jaitley has expressed disappointment over the slow pace of IMF quota reforms and said any further delay would erode the legitimacy and credibility of the multi-lateral organisation.
PM Modi Asks States to Make Speedy Arrangements for GST Rollout
Prime Minister Narendra Modi on Sunday said the states should make legislative arrangements "without delay" for GST rollout from July 1.
Sebi Lines up Reforms For Deeper Market, to Check Black Money
Capital markets regulator Sebi will soon put in place stricter norms to check any flow of black money into stock market though controversy-ridden P-Notes and also initiate steps for allowing mutual fund investments through e-wallets.
US Accuses TCS, Infosys And Cognizant of Violating H-1B Visa Norms
The US has accused top Indian IT firms TCS and Infosys of unfairly cornering the lion's share of H-1B visas by putting extra tickets in the lottery system, which the Trump administration wants to replace with a more merit-based immigration policy.
Banks Looking at Bilateral Pact to Sell Kingfisher House
enders are considering making a fresh attempt to sell Kingfisher House here to recover their dues from Vijay Mallya, adopting a model followed in recent sale of the defaulter businessman's posh Goa villa.
Global Economic Integration Benefits Must be Shared by All: IMF
he IMF acknowledged on Saturday that a prolonged period of low growth has brought to the fore the concerns of "those who have been left behind" and said it was important that the benefits of global economic integration is shared by everyone.
Apple is welcome to make in India, Says Ravi Shankar Prasad
India would welcome Apple to make its iconic iPhones in the country where a lot of big firms were already making mobile phones, said Union IT Minister Ravi Shankar Prasad on Saturday.
Hero Cycles Keen to Invest Rs 400 cr For 'Cycle Valley' in Punjab: Pankaj Munjal
Amid the revival in industry sentiment in Punjab, Hero Cycles on Saturday expressed interest in setting up a Rs 400 crore 'cycle valley', on the lines of the Silicon Valley, near the state's Sahnewal town.
LIC to Infuse Rs 407 Crore in IDBI Bank; Hike Stake to 14.25 Percent
Life Insurance Corporation of India (LIC) will infuse Rs 406.9 crore in IDBI Bank increasing its stake 14.25 percent in the state-owned lender.
India's GDP to Expand at 7.5% in 2017-18, Says Finance Minister Arun Jaitley
Indian economy will grow at a clip of 7.5 percent this fiscal, up from 7.1 percent in 2016, and remains resilient with low inflation, fiscal prudence and low deficit, Finance Minister Arun Jaitley has said.
Over 2,800 Companies Breaking Air Pollution Rules in China
China's environmental authority on Saturday found over 2,800 companies in violation of standards during the first round of air pollution inspection.
PIA Sacks its German CEO Bernd Hildenbrand Amid Graft Charges
The German chief executive of Pakistan's cash-strapped national carrier PIA was on Saturday sacked amid corruption charges, media reports said.
Uber Moves Bombay HC For Rs 12 Crore in Damages From Taxi Owners Bodies
App-based car service provider Uber India has approached the Bombay High Court seeking Rs 12 crore in damages from taxi owners and drivers associations for harming its reputation and livelihood of drivers by protesting against the company.
PFHI Issue Has Nothing to do With us: Gates Foundation
The Ministry of Home Affairs cancelled the license of Public Health Foundation of India earlier this week under the Foreign Contribution (regulation) Act, which means that the NGO will not be able to get any foreign funding.
H-1B Visa Review: Indian Techies, IT Firms Fret Over Trump's Executive Order
For Grishma, an Indian software designer, President Donald Trump's review of the visa programme for bringing highly skilled workers into the United States comes at a bad time.
Mobile Subscriber Base Reaches 895.25 Million in March
The mobile subscriber base of seven telecom operators, including Bharti Airtel and Vodafone, increased by 5.68 million in March to reach 895.25 million, according to industry data.
L&T, South Korean Firm Team up For Artillery Gun
Jayant Patil, Head of Defence and Aerospace, L&T, said: "This contract marks an important milestone in L&T's Defence Business journey and in our relationship with Hanwha Techwin.
Corus Acquisition Was an Aspirational Mistake: JJ Irani
In Mistry's case, the Tata Sons board lost confidence in Mistry for which he was removed. "But the Tata image has taken a hit as things were blown out of proportions in the media".
Cyrus Mistry Appeals Against NCLT Rejecting Waiver Plea in Tata Case
Ousted Tata Sons Chairman Cyrus Mistry has moved appellate tribunal NCLAT against the National Company Law Tribunal, which had rejected his plea for waiver in the eligibility criteria for filing case against the Tata Group.
69% Chinese Firms Don't Comply With Environmental Laws
Towards the end of March, China's environmental authorities said atmospheric pollution in the country had increased during the first two months of 2017, despite a descending trend registered over the last few years.
China's Belt and Road Initiative Opportunity For India: Shivshankar Menon
he Belt and Road Initiative (BRI) of China, which aims to link Asia with Europe for trade and other exchanges, represents an opportunity for India, former Foreign Secretary Shivshankar Menon said in Mumbai on Friday.
Sensex Climbs 162 Points on Renewed Hope of US Tax Cuts
The benchmark BSE Sensex rallied around 162 points in early trade on Friday on widespread gains as investors indulged in widening bets amid firm overseas cues.
Rupee Down 9 Paise Against Dollar at 64.65
Dealers said a firm dollar against some global currencies overseas also weighed on the rupee but a higher opening of the domestic equity market capped the fall.
Nirmala Sitharaman Refers to US Cos in India as Protectionism Raises Concerns
Concerned over Indian companies getting hit by tightening of US visa rules, Union Commerce Minister Nirmala Sitharaman on Thursday said the "whole debate" has to be expanded to include several American firms that are earning their profits in India.
BS-III Models: Bajaj's Punjab Sub-dealers on Strike For 3rd Day
Over 200 sub-dealers and some dealers of Bajaj Auto in Punjab have stopped selling bikes from April 18 seeking compensation for the unsold BS-III units following the Supreme Court ban on sale of such models.
Wipro's 'Performance Appraisal' Results in Sacking of 600 Employees
The country's third largest software services firm Wipro has sacked hundreds of employees following its annual "performance appraisal".
Rupee Edges up to 64.56 Against US Dollar
In worldwide trade, the dollar inched lower against a basket of major currencies, suffering from a solid performance by the euro before the first round of French presidential elections and from an improvement in sentiment towards Britain's pound this week.
Oil Ministry Slams Move to Shut Petrol Pumps on Sunday
Southern states of Tamil Nadu, Kerala, Puducherry, Andhra Pradesh, Telangana, parts of Karnataka -- mostly around Bengaluru -- and some areas of Maharashtra, especially Mumbai, may see petrol pump owners down their shutters on Sundays beginning May 14 to press for higher commission on petrol and diesel they sell.
Modi Government Likely to Announce Policy to Tackle Bad Loans Soon
India's banks, for long laboring under a mountain of bad loans, can expect a government intervention soon, multiple sources have told News18.
Former Infosys CFO Goes to Arbitration Over Rs 12 Crore Severance Pay
The former chief financial officer of Infosys, Rajiv Bansal, has approached the Arbitration Tribunal to claim the pending Rs 12 crore of his severance pay.
Sensex Rises 86 Points on Value-buying
The 30-share index opened strong and shuttled between 29,453.06 and 29,341.68 during the session.
Finance Ministry Ratifies 8.65 Percent on EPF: Labour Minister
"Finance Ministry has agreed to 8.65 per cent rate of interest. Now, the communication will come.
Sensex Gains 64 Points in Early Trade on Asian cues
The benchmark BSE Sensex advanced almost 64 points to 29,400.14 in early trade on Thursday on sustained buying by domestic institutional investors amid firm Asian cues.
Rupee Down 13 Paise Against Dollar in Early Trade
The rupee lost 13 paise against the dollar to 64.71 in early trade on Thursday on the Interbank Foreign Exchange due to appreciation of the US currency overseas.
'GST to be a Growth Booster for India After Demonetisation Drag'
Our oil price forecast is based on the future prices, which envisage relatively stable oil prices at little bit above $50 a barrel, which is where they stand now.
Tata, Godrej, Adani Show Interest in Buying Sahara Properties
The group is expecting to get the first instalment from the sale of these properties by June 17 and get all the money, estimated at around Rs 7,400 crore, in three months.
Opportunities For Foreign Investors in Indian Realty Sector
The Indian economy is forecasted to record GDP growth higher than China, making it the fastest in the world during FY 2015-16.
Impact of GST on Real Estate
From the point of view of consumers, the impact of GST on the real estate sector will hinge on its effective implementation rate.
Revised FDI Norms May Double Private Equity Inflow in Realty Sector
The modification of the 3-year lock-in period basically opens the portals wide for FDI funds who were deterred by this clause so far.
Sensex Back in Green, IMD Forecast Holds Out Hope
The government's weather office yesterday predicted a normal monsoon for June-September, which is expected to give a boost to the rural economy.
Rupee Recoups 8 Paise After Dollar Stumbles
The rupee made a mild comeback as it recovered 8 paise to 64.55 against the dollar today after fresh selling of the US currency amid a higher opening in domestic equities.
Sensex Rises 54 Points on Hopes of Normal Monsoon
The government's weather office on Tuesday forecast a normal monsoon during the June-September period, which is expected to give a leg up to the rural economy.
I-T Dept Searches in TN, Karnataka, Kerala Against Ponzi Schemes
It was not immediately clear if the latest action had any connection to some politicians or their associates in Tamil Nadu.
New Zealand Tightens Immigration Rules in 'Kiwi-first' Crackdown
New Zealand said on Wednesday it will tighten access to its skilled work visas, just a day after the United States and neighbouring Australia announced similar restrictions on immigration.
Revised Refinery MoU to Save Rajasthan From Losses: Dharmendra Pradhan
Hitting out at the Congress, Chief Minister Vasundhara Raje said that it has a record of laying foundation stones to take political mileage and not doing the work on ground.
Telcos Ask TRAI to Broaden Stakeholder Base on Net Neutrality
The telecom major said that over-the-top (OTT) communication services such as voice and messaging, provided by various players, are direct substitutes for the services offered by the telecom operators.
US Visa Tightening Signals Aggressive Monitoring: Nasscom
It argued that any "onerous additional restrictions" on the H-1B and L-1 visa systems will hurt thousands of US businesses and their efforts to be more competitive as it will hinder their access to talent.
IMF Trims India's Annual Growth Forecast by 0.4% Percent to 7.2%
The IMF on Tuesday trimmed India's annual growth forecast by 0.4 percentage points to 7.2 per cent for 2017, citing the impact of demonetisation.
Sensex Surrenders Early Gains, Sheds 95 Points on Global Cues
The 30-share index rose over 267 points in morning trade and shot up to 29,701.19, but later lost momentum to hit the day's low of 29,286.38. It finally ended 94.56 points, or 0.32 per cent lower at 29,319.10
RIL Briefly Topples TCS as India's Most Valued Firm, M-Cap at Record High
Shares of RIL rose by over 1 percent to a multi-year high of Rs 1,410 on BSE. The scrip of TCS gained 0.77 per cent to Rs 2,338.95, PTI reported.
Nifty Regains 9,200-Level, Sensex Zooms 267 Points in Early Trade
The gauge had lost 374.69 points in the previous three sessions largely on weak global cues on rising geo-political concerns.
Rupee Reclaims 3 Paise Against US Dollar
Forex dealers said weakness in the dollar against its key rivals overseas gave some support to the rupee.
TCS Gets Nod for Rs 16,000-crore Share Buyback, the Biggest in India
The Indian IT companies have been under pressure to return excess cash on their books to shareholders through generous dividends and buybacks.
Apple, Coke, Airtel Among Cos Pulled up For 143 Misleading Ads
Apple showing 'iPhone 7' as 'iphone 7 plus variant' is among 143 advertisements dubbed as misleading by regulator ASCI, which also pulled up Coca-Cola India, Bharti Airtel and others for such campaigns.
Tribunal Dismisses Cyrus Mistry's Plea Against Tata Sons
A Corporate tribunal has dismissed a petition by former Tata Sons' chairman Cyrus Mistry that alleged mismanagement and discrimination against minority shareholders at the Tata group holding company, Tata Sons said on Monday, adding it welcomed the order.
Note Ban Crimps MFIs' Securitisation by 21% in Fy17
Hit hard by the note ban, securitisation volume of microfinance institutions (MFIs) fell 21 per cent to around Rs 7,150 crore in fiscal 2017 compared to Rs 9,000 crore last year, says a report.
Rupee Slips 11 Paise to 64.52; Global Jitters Weigh
After a brief recovery, the rupee once again turned weaker against the US currency and lost 11 paise to close at 64.52 on fresh bouts of dollar demand from importers amid continued geo-political headwinds.
Govt Should Not Allow More Sugar Imports, Says NFCSF
The Centre should not allow additional raw sugar imports as that will adversely impact wholesale prices and mills' ability to make sugarcane payments to growers, cooperative sugar mills body NFCSF said on Monday.
Fresh Bad Loans Created in Agriculture, SMEs Due to Demonetisation, Says Pronab Sen
It is quite bad, and is likely to get worse. At the moment, we are talking about a non-performing assets (NPAs) level of 9.5% to 10% (of credit outstanding) and a stressed assets number closer to 13%. The likelihood is that these would go up by 2 to 4 percentage points more.
'Sugar Production May Fall Up To 20% Due To Drought In Maharashtra, Karnataka'
Uttar Pradesh has picked up part of the slack. But not entirely, because the fall is massive in Maharashtra and Karnataka, nearly 60 lakh tonne, while the improvement in UP is just 16 lakh tonne.
Wholesale Inflation Cools to 5.70 Percent Even as Food Prices Heat up
Inflation based on the wholesale price index slipped to 5.70 per cent in March as manufactured goods showed cost decline even as food prices hardened.
India to Grow at 7.2% in FY17, Says World Bank Report
A World Bank report has projected India's economic growth at 7.2% in current fiscal year, up from 6.8% in 2016.
Sensex Edges Lower by 88 Points on Global Weakness
Geo-political issues continued to dominate the scene as the Sensex slipped over 88 points in early part today, mirroring global losses.
Rupee Down 3 Paise Against Dollar in Early Trade
Forex market remained shut on Friday on account of 'Dr Babasaheb Ambedkar Jayanti' and 'Good Friday'.
Numaligarh Refinery Signs MoU to Import Crude Oil Via Paradip Port
Numaligarh Refinery Ltd (NRL) on Sunday signed an MoU with Paradip Port Trust and Indian Oil Corporation for import of crude oil through Odisha's Paradip Port, an official statement said.
Nepal President to Begin India Visit Today, Infrastructure, Energy on Agenda
In her first foreign tour, Nepal President Bidya Devi Bhandari is paying a state visit to India from April 17 to 21 at the invitation of her Indian counterpart Pranab Mukherjee.
Snapchat Denies CEO Evan Spiegel's 'India is a Poor Country' Remark
A day after Snapchat CEO Evan Spiegel's purported disinterest in expanding business to "poor countries" like India created controversy in social media, parent company Snap Inc denied the allegation, saying no such remark was made, reports said on Sunday.
E-Commerce Definition Too Wide in GST Dispensation: Assocham
The chamber has sought clarity from government to remove uncertainty among businesses as the law is set for a rollout either in July or September.
Infosys to Ramp up Local Hiring in US Amid Visa Concerns
The North American market accounted for over 60 per cent of Infosys' USD 10.2 billion revenue in the 2016-17 fiscal.
Amazon, Flipkart Battle in India for E-commerce's 'Last Frontier'
With 100 million new internet users every year, Amazon is betting big on India, but a major new investment in homegrown rival Flipkart means the battle to dominate the fast-growing e-commerce market is set to heat up.
CBEC Sanctions Rs 1 Crore to Each Zone for GST Outreach
Racing against time for GST rollout, Central Board of Excise and Customs (CBEC) chief Vanaja N Sarna has sanctioned Rs 1 crore to each of 23 zones to conduct an outreach programme about the new tax regime.
Select Edible Oils, Grains Remain Weak on Low Demand; Adequate Stocks
Meanwhile, the government has created buffer stocks of 18 lakh tonnes of pulses so far and also decided to procure dals from farmers till April 22, Food and Consumer Affairs Minister Ram Vilas Paswan said.
Suzuki, Toshiba and Denso to Make Lithium-ion Batteries in India
Suzuki Motor Corporation on Friday said that it has reached a basic agreement with Toshiba Corporation and Denso Corporation for establishment of a joint venture company which will produce automotive lithium-ion battery packs in India.
Nirmala Sitharaman Hard Sells India as Investment Destination
He gave examples of Business Reform Action Plan (BRAC) on which states are being ranked on ease of doing business (EODB) and upgradation of Intellectual Property Regime. It was discussed that the electric vehicles, renewable energy, medical devices are the sectors of the future providing diversification opportunities to Japanese investors.
Liquor Ban on Highways to Affect 30 Percent Premium Hotels: Crisil
The ban on alcohol sale within 500 metres of highways will impact up to 30 percent of premium hotels, with Pune being the most affected city, domestic ratings agency Crisil has said.
Infosys CEO Vishal Sikka Takes Home Rs 43 Crore in FY17
Infosys CEO Vishal Sikka, whose pay package was one of the contentions raised by the founders, has drawn USD 6.68 million (about Rs 43 crore) or 61 percent of the promised compensation for the 2016-17 fiscal.
I-T Dept Detects Over Rs 9,000 Cr Black Money, Begins Phase 2 of 'Clean Money'
The Income Tax department on Friday launched the second phase of its ‘Operation Clean Money’ to detect black money after demonetisation and is set to issue notices to 60,000 entities.
Need to Reduce 'Friction' in Businesses in India: Narayana Murthy
To transform India's economy, there is a need to reduce "friction" in businesses and create an "environment" wherein the government has more trust in its entrepreneurs, Infosys founder N R Narayana Murthy has said.
Up to Rs 50k loyalty-cum-life benefit for 20 years+ EPFO members
The Employees' Provident Fund Organisation's apex decision making body, the Central Board of Trustees, has recommended a minimum sum assured of Rs 2.5 lakh in the event of death of a subscriber.
Infosys Plans Rs 13,000 Crore Payout Via Buyback, Dividend
Infosys on Thursday said it will pay up to Rs 13,000 crore to shareholders during the current financial year through dividend and/or share buyback.
Infosys Names Ravi Venkatesan as Co-Chairman
The board expansion comes against the backdrop of an ongoing tussle between the founders and the management over contentious issues such as CEO salary hike.
Sensex Falls 73 pts on Weak Data, Global Cues
The gauge had lost 144.87 points in the previous session.
Infosys Q4 Profit Falls 2.8%; IT Giant to Pay Rs 13,000 Crore to Shareholders
The company expects its 2017-18 revenue to grow between 6.1% and 8.1% in dollar terms and 6.5-8.5% in constant currency terms.
Rupee Gains 30 Paise Against Dollar in Early Session
The rupee made good some of its losses by strengthening 30 paise to 64.37 against the US dollar in early trade today on fresh selling of the American currency by banks and exporters.
Retail Inflation Hits 5-month High of 3.81% in March
Retail inflation jumped to 5-month high of 3.81 percent in March on costlier protein items, edible oils and non-food products like fuel and light.
India's February Factory Output Down by 1.2 percent
India's factory output dipped by 1.2 percent in February, official data showed on Wednesday.
SC Order Credit Negative for Tata Power Rating: Moody's
The apex court's order regarding compensatory tariff for Tata Power in view of higher coal prices is credit negative, but does not impact its Ba3 rating, Moody's said on Wednesday.
Petrol, Diesel Prices to Change Every Day From May 1 in Five Cities
Come May 1, petrol and diesel prices will change every day in sync with international rates, much like what happens in most advanced markets.
Sensex Opens With Marginal Gains, All Eyes on Macro Data
It was a cautious mood at the start for markets on Wednesday, with the Sensex inching up 50 points, as the countdown begins for release of key IIP and inflation data later in the day.
Rupee Softens 11 Paise Against US Dollar
The rupee shed 11 paise to 64.61 against the US dollar in early trade on Wednesday following fresh demand for the American currency from banks and importers.
Tata Power, Adani Power Slump as Top Court Sets Aside Tribunal Order
The Supreme Court on Tuesday set aside an order by the Appellate Tribunal For Electricity allowing compensatory tariff to Tata Power Ltd and Adani Power Ltd, sending down shares of both companies.
Flipkart to Use Latest Funds to 'Make Profits, Shave Off Burn'
Flipkart board member and investor, Subrata Mitra on Tuesday said money raised through the latest round of funding will be utilised to make profits and shave off company's burn on weekly basis, in a quest to ride its business towards right metrics.
Markets Make a Slow Start, Macros Take Focus
Stocks held out hope on Tuesday as the flagship Sensex made a tepid recovery ahead of release of key macroeconomic data and start of March quarter earnings season due later this week amid a weak trend in Asia.
Rupee Falls More, Higher Equities Contain Damage
Dealers said dollar flexing muscles overseas and its increased demand from importers put the squeeze on the rupee.
Sensex Retreats For 3rd Day Ahead of Earnings Numbers
The Sensex resumed higher and advanced to the day's high of 29,831.32, but later slipped before ending down 130.87 points, or 0.44 per cent, at 29,575.74, its lowest closing since March 29.
Flipkart Raises USD 1.4 Billion From Microsoft, eBay and Tencent
China-based Tencent owns social messaging app WeChat and has investments across various online companies like Practo, Ibibo etc.
Petrol Pump Owners Threaten to Remain Closed on Sundays
Petrol pump owners across the country have threatened to observe Sunday as a weekly holiday from May 10 if the government continues to ignore their demands for hiked commissions. If they carry out their threat, vehicle owners would be unable to refuel on Sundays.
Sensex Bounces 125 Points, Nifty Above 9,200 Early on
The quarterly earnings due to start this week provided markets a crucial leg-up on Monday as the Sensex recouped 125 points and the Nifty topped 9,200 again amid a mixed Asian scenario.
Rupee Takes 21-paise Hit After Dollar Clout Grows
Meanwhile, the benchmark BSE Sensex rebounded by 124.71 points, or 0.41 per cent, to 29,831.32 in early trade.
Indian Private Equity Firm to Acquire Religare Health Insurance
The deal, which still needs regulatory approvals, values the Religare Health Insurance at 13 billion rupees ($202.3 million).
Snapdeal Founders Move to Calm Employees Amid Takeover Speculation
Founders of Snapdeal told their employees that they will ensure there is no disruption to staff "as the way forward becomes clear," as speculation of a takeover swirls.
SBI Branch Opened 2,000 Accounts to Channelise Black Money
Over 2,000 fresh accounts were opened in a Bareilly branch of State Bank of India post-demonetisation till December 31 to allegedly channelise black money in which at least Rs 8 crore were deposited in old notes, a CBI probe has found.
Loans, Card Payments Above Rs 2 Lakh in Cash to be Shown in Income Tax Return
All cash payments of over Rs 2 lakh for paying loans and credit card bills during the 50-day period post demonetisation will have to be disclosed in the new one-page Income Tax return form.
Sending Couriers Abroad the New Way to Cash in Demonetised Notes
The customs department has unearthed a new modus operandi of sending demonetised Rs 500 and Rs 1,000 notes abroad by courier in a bid to get them converted later.
Islamic Banking in India? No Deadline Set Yet, Says RBI
No deadline has been set for the introduction of Sharia or interest-free banking in India, the Reserve Bank of India (RBI) has said.
After Three Failed Attempts, Mallya's Kingfisher Villa Gets a Taker
After three failed attempts, absconding liquor baron Vijay Mallya's famous Kingfisher Villa has been sold to actor-businessman Sachiin Joshi in an auction.
RBI Releases Paper on Wholesale, Long-term Finance Banks
The Reserve Bank of India on Friday released a discussion paper on a proposal to set up "differentiated banks" in the form of wholesale and long-term finance banks to fund large projects.
Sensex Companies to See 9.1% Growth in Profits in Q4 FY'17: Deutsche
Driven by spike in global commodity prices, benchmark Sensex-30 companies are likely to post 9.1 percent jump in profits, for the fourth quarter of the fiscal gone by, says a report.
18 Lakh Cases Where Income & Account Profiles Don't Match: Jaitley
Authorities have detected 18 lakh cases after demonetisation where the income profiles of people do not match their account profile, the Lok Sabha was informed on Friday.
Tax Evasion of More Than Rs 1.37 cr Detected in Last 3 Years
The Revenue Department on Friday said it has detected evasion of more than Rs 1.37 lakh crore in both direct and indirect taxes and identified over 1,000 shell companies which indulged in bogus transactions worth Rs 13,300 crore in the last three financial years.
Public Sector Oil Companies Plan May Review Retail Fuel Prices Everyday
Public sector oil companies like Indian Oil, Bharat Petroleum and Hindustan Petroleum may review fuel prices daily rather than fortnightly, as is the current practice, in order to align them better with international prices.
Sensex Tanks 164 Points on Asian Cues, Nifty Drops 49.35 Points
The benchmark BSE Sensex lost over 164 points to 29,763.02 in early trade on Friday as RIL led the fall on increased selling by participants amid a weak trend in other Asian markets.
Rupee Weakens by 13 Paise to 64.65 Against US Dollar
The rupee weakened by 13 paise to 64.65 against the US dollar in early trade on Friday at the Interbank Foreign Exchange market due to the appreciation of the American currency overseas.
Global Stocks Skid, Safe-haven Assets Jump as US Strikes Syria
Stocks slumped and safe haven bonds and the yen jumped in Asia on Friday after the United States launched cruise missiles against an airbase in Syria, potentially escalating the conflict and spooking investors globally.
Manmohan's Statesman Touch Helps in the Passage of GST Bills in Parliament
One of the first persons the finance minister walked up to thank after passage of GST was Dr Manmohan Singh and there is strong reason for this.
Piyush Goyal says 'Neighbouring Country'Exporting subsidized Aluminium to India
Goyal said that India produces Alumina in fair measure and could use this raw material for the aluminium needs for the country. But the country exports the raw materi rather than process it here and create value added jobs, which could create wealth and jobs in India.
Parliament Passes Four Bills to Pave Way For GST Rollout
Parliament on Thursday passed four legislations to pave the way for roll out of the historic Goods and Services Tax (GST) from the target date of July 1.
101 Indians on Forbes Billionaires List; Paytm's Vijay Sharma, Patanjali's Balkrishna New Entrants
he Bull Run in Indian stock market has helped Indian billionaires expand their fortunes even as 17 new faces have made it to the 2017 Forbes World’s Billionaires List, taking the total number to 101 from 84 last year.
Snapdeal Partners Andhra Pradesh, UC Berkeley For Smart Village Project
E-commerce firm Snapdeal on Thursday announced a partnership with University of California, Berkeley and Andhra Pradesh government to enable digital access for small artisans in the state's 'Smart Village' project.
Loan Waiver Schemes Undermine Honest Credit Culture: RBI Governor
"If on account of this overall government borrowing goes up, yields on government bonds also get impacted. Thereafter, it can also lead to crowding of the private borrowers as higher government borrowing can lead to increasing cost of borrowing for others," he said.
Govt Should Remove Transaction Charges on e-Payments: Traders
The government should remove transaction charges on e-payments for the faster adoption of digital payments in the country, the Confederation of All India Traders (CAIT) said on Thursday.
RBI Keeps Key Rate on Hold, Keen to Drain System's Excess Cash
The Reserve Bank of India kept its repo rate at 6.25 percent for a third consecutive policy meeting on Thursday as it continues to guard against any potential flare-up in inflation and an uncertain global economic environment.
Sensex Trips 122 Points Ahead of RBI Policy Meet
Domestic investors were cautious ahead of RBI's monetary policy meet as the market benchmark Sensex retreated from record close by falling about 122 points in early trade on Thursday while Asian cues were muted on overnight losses in the US.
Rupee Sheds 18 Paise Against US Dollar
The rupee depreciated 18 paise to 65.05 against the US dollar in early trade on Thursday at the Interbank Foreign Exchange market on fresh demand for the American unit from importers and banks.
Amazon Boss Bezos Selling $1 Billion Stock a Year to Fund Rocket Venture
Amazon.com founder Jeff Bezos said on Wednesday he is selling about $1 billion worth of the internet retailer's stock annually to fund his Blue Origin rocket company, which aims to launch paying passengers on 11-minute space rides starting next year.
Sensex Ends at a New Peak of 29,974, Maruti Leads Rally
The BSE 30-share index hit a high of 30,007.48 in intra-day trade, but slipped to 29,817.69 before settling at 29,974.24, up 64.02 points or 0.21 per cent.
Want to Save Tax? Fake Rent Receipts Won't Help Anymore
People using fake rent receipts to save on income tax may be in for some trouble now.
Adani's Coal Mine Project in Australia Granted Water Licence
AIBC noted Adani as the single-largest Indian investor in Australia and said it encouraged more Indian companies to consider investing in Australia.
Govt Allows Duty-Free Import of Raw Sugar Upto 5 Lakh Tonnes
The government on Wednesday allowed duty free import of raw sugar upto 5,00,000 tonnes to boost domestic supplies and check price rise amid production fall.
Sensex Breaches 30k-Mark, Nifty at New High of 9,264
All the sectoral indices, led by consumer durables and realty, were trading in positive zone with gains up to 2.20 percent.
Rupee Softens 11 Paise Against US Dollar in Early Trade
The rupee weakened 11 paise to 65.14 against the US dollar in early trade on Wednesday at the Interbank Foreign Exchange on increased demand for the American currency from importers and banks.
India, Britain Talk Up Post-Brexit Trade Prospects
India and Britain on Tuesday talked up their prospects of developing a new trading relationship, as their finance ministers met to prepare for the United Kingdom's exit from the European Union.
Govt Planning to Empower RBI to Deal With Stressed Assets: Report
The government is considering legislation to empower the Reserve Bank of India (RBI) in effective handling of stressed assets, in tandem with its broader plan to resolve banks' bad loans, the Economic Times reported on Tuesday, citing sources.
Banks Credit Declines to 24% in Real Estate, PE Funds Grow, Says Report
With the declining bank credit to Indian real estate industry, private equity (PE) investors emerge as the major contributors to the sector by meeting around 75 percent of the funding requirement in the last couple of years, a report said on Tuesday.
'FIPB Approval For Aircel-Maxis Deal Done in Normal Course of Business'
Congress leader P. Chidambaram has denied wrong doing in the Aircel-Maxis case, after reports emerged on Monday that BJP leader Subramanian Swamy had told the Supreme Court that the CBI was probing “all angles” in the case including Chidambaram’s role in granting investment clearance to the deal.
Under Pressure, Snapdeal Woos Staff With Promises of Profit
Some employees cite concerns after the departure of 600 staff in February, laid off from Snapdeal, its logistics arm Vulcan Express and payments unit FreeCharge.
Govt Exceeds FY17 Tax Collection Target at Rs 17.10 Lakh Crore
The government has exceeded the tax collection estimates for 2016-17 fiscal at Rs 17.10 lakh crore.
New H-1B Visa Rules: How Indian Techies Will be Affected
The US has announced multiple measures to "deter and detect" what it described as "fraud and abuse" of H-1B work visas, the most sought after by Indian IT firms and professionals.
Markets Closed on Tuesday on Account of Ram Navmi
Stock, bonds and currency markets will be closed on Tuesday for a market holiday. Trading will resume on Wednesday.
Computer Programmers May Find it Difficult to Get H-1B Visas
The US has ruled that being a simple computer programmer would no longer qualify as a specialist profession, which is a must for the issue of a H-1B work visa, in a move that could have far-reaching implications for thousands of Indians applying for such a visa.
US Announces Measures to 'Deter and Detect' H-1B Visa Fraud
The US has announced multiple measures to "deter and detect" what it described as "fraud and abuse" of H-1B work visas, the most sought after by Indian IT firms and professionals.
BS-III Ban to Cost Rs 2,500 Crore For Truck Makers: Report
Commercial vehicle (CV) manufacturers are expected to have incurred a cost of Rs 2,500 crore in disposing of BS-III vehicles banned by the Supreme Court for sale and registration after April 1, 2017, said a report on Monday.
Sensex, Nifty Reach New Closing Peaks
The benchmark Sensex and the Nifty on Monday hit record closing high on the first trading day of 2017-18 to end at 29,910.22 and 9,237.85, respectively, driven by a rally in index heavy-weights RIL and L&T.
Is Narayana Murthy Eroding Trust in Infosys by Continuing Spat With Board?
Infosys founder NR Narayana Murthy’s latest spat with the company board over the salary hike given to chief operating officer UB Pravin Rao could impact the image of the company negatively, analysts and corporate governance experts told News18.
Aircel-Maxis Deal: ED to Probe Role of Chidambaram, Son Karthi
In a sign that former finance minister P Chidambaram’s legal troubles are mounting, the Enforcement Directorate has announced that it will investigate his and his son Karti Chidambaram’s alleged role in the controversial Aircel-Maxis deal.
After US, Singapore Tightens Work Visa Rules for Indian Techies
After the United States, Indian techies are now finding it difficult to procure visas to work in Singapore, following which the government has put on hold the Comprehensive Economic Cooperation Agreement (CECA), the Times of India reported on Monday.
RBI to Keep Rates Unchanged, Next Move Likely a Cut: Reuters Poll
The Reserve Bank of India (RBI) will keep interest rates unchanged at its meeting on Thursday and as inflation is below target while borrowing costs are more likely to fall than rise, a Reuters poll found.
Infosys Shares Slip After Narayana Murthy Questions COO's Pay Hike
Only 24 percent of promoters voted in favour of the compensation hike, and rest of them abstained from voting.
After Merger With Associate Banks, SBI Opens as One Bank
Post-merger of five associate banks, the State Bank of India opened as one bank with 500 million customers and started normal operations from Monday, SBI Chairperson Arundhati Bhattacharya announced.
Sensex Recoups 158 Points; Nifty Tops 9,200-mark on Asian Cues
The BSE Sensex recovered by over 157 points and the Nifty scaled a record high in early trade on widespread buying by investors and funds, triggered by a firm trend in Asian markets.
Rupee Gains 8 Paise Against US Dollar in Early Trade
Continuing its uptrend, the rupee firmed up by another 8 paise to 64.77 against the US dollar in early trade on Monday on increased selling of the American currency by exporters and banks.
ISRO Embraces Private Sector, Outsources Satellite Manufacture
The Indian Space Research Organisation (ISRO) has crossed a new threshold, engaging for the first time a private sector industry to make a full multi-crore, heavy duty satellite.
Murthy Slams Infosys COO Pay Rise, Blames Poor Governance Standards
Infosys NR Narayana Murthy has accused the company of poor governance standards and said the compensation hike to chief operating officer UB Pravin Rao was not "proper" and "will likely erode the trust and faith of the employees in the management and the board."
Tata Motors Arm to Sell Made in India Robot BRABO in Europe
Tata Motor's wholly owned subsidiary TAL Manufacturing on Sunday announced that BRABO -- the first Made-in-India robot -- has received "CE" certification for commercial sale in the European market.
GST Will be Implemented From July 1: Arjun Meghwal
Union Minister of State for Finance Arjum Ram Meghwal on Sunday expressed confidence that the historic tax reform Goods and Services Tax (GST) will roll out from July 1.
RBI Governor, Deputies Get Big Pay Hike, Govt Doubles Basic Salary
RBI Governor Urjit Patel and his deputies have got a big pay hike with the government more than doubling their basic salary to Rs 2.5 lakh and Rs 2.25 lakh per month, respectively.
Education, Healthcare, Pilgrimages to be Out of GST
Education, healthcare and pilgrimages will continue to be out of service tax net even under the GST regime as the Centre is against giving any shock in the first year of the rollout by bringing in new services.
Tax Dispute Scheme Gets Tepid Response, Garners Rs 1,200 cr
The government's ambitious tax dispute resolution scheme has ended with a whimper with just Rs 1,200 crore being collected and none of the high-profile retrospective tax cases involving firms like Vodafone and Cairn Energy opting to settle.
Truck Owners Begin Indefinite Strike to Protest 50% Hike in Insurance Premium
Truck owners began an indefinite strike from Saturday to protest mainly against the proposed 50 percent hike in the third party insurance premium, amid apprehensions that the protest could lead to upply disruption and raise commodity prices in the coming days.
Post Merger, SBI Begins Operations as Unified Entity
The State Bank of India (SBI), the country's largest lender, started functioning as unified entity from Saturday post merger of its five associate banks, besides Bharatiya Mahila Bank.
Five Associate Banks, BMB Merge With State Bank of India
Five associates and the Bharatiya Mahila Bank became part of the State Bank of India (SBI) on Saturday, catapulting the country's largest lender to among the top 50 banks in the world.
Finance Bill Gets Presidential Assent, Takes Effect From Today
President Pranab Mukherjee has given his assent to the Finance Bill 2017 to give effect to provisions like the bar on cash transactions above Rs 2 lakh and compulsory quoting of Aadhaar for filing tax returns.
India to Grow at 7.7% in 2018, Newer Challenges Loom, Says Arun Jaitley
Emerging markets face newer challenges in the form of inward looking policies of protectionism and increased geopolitical tension, Finance Minister Arun Jaitley said on Saturday as he pegged India's GDP growth at 7.7 per cent in 2018.
India to Cut Iranian Oil Purchases in Row Over Gas Field
State refiners will cut oil imports from Iran in 2017/18 by a fifth, as New Delhi takes a more assertive stance over an impasse on a giant gas field that it wants awarded to an Indian consortium, sources familiar with the matter said.
Credit Suisse Under Fire as Clients Hunted for Tax Evasion
Swiss bank Credit Suisse has been dragged into yet more tax evasion and money laundering investigations, after a tip-off to Dutch prosecutors about tens of thousands of suspect accounts triggered raids in five countries.
Petrol Price Cut by Rs 3.77 a Litre, Diesel by Rs 2.91
The price of petrol is cut by Rs 3.77 per litre and that of diesel by Rs 2.91 a litre, the first change in rates in two-and-a-half months.
Sensex Ends FY17 With 16% Gain; Investors Richer by Rs 26 Trillion
The Sensex has gained 4,278.64 points, or 16.88 per cent, for the entire fiscal 2016-17. The gauge had touched the year's high of 29,824.62 (intra-day) on March 17 this year.
Toyota Sales up 80% in March; Closes FY 17 With 11% Growth
The robust demand of the two vehicles helped the company make up for five months of absence in Delhi-NCR region during the fiscal when diesel cars and SUVs with engine capacity of 2,000cc and above were banned, he added.
Your Fitness Guide to Staying Healthy
Leading a lifestyle that translates into good health means not just eating right, but also balancing your caloric intake with adequate exercise. Let us take a look at some quick tips by which you can get your health in order and stay clear from lifestyle diseases and other health concerns.
Airtel Launches 4G in 22 Towns of Kashmir Valley
He said the customers can upgrade to 4G sim for free and choose from a range of prepaid and postpaid plans that offer generous dollops of high speed data.
Govt Slashes Small Saving Schemes Interest Rates by 0.1%
The government has lowered interest rates on small saving schemes like PPF, Kisan Vikas Patra and Sukanya Samriddhi scheme by 0.1 per cent for the April-June quarter, a move that would prompt banks to cut their deposit rates.
584 Percent Jump in Digital Transactions Since Demonetisation
There has been an increase of 584 per cent in digital transactions done through the Unified Payments Interface (UPI) since demonetisation in November last year, said an official release on Thursday.
Sensex Eases as April Series Sees Shaky Start
The BSE Sensex fell about 73 points to trade at 29,575 in early trade of the last session of 2016-17 as the April derivatives series started on a negative note amid a mixed trend in the global market.
Rupee Firms up 12 Paise as Dollar Slips Overseas
The local currency had closed with a mere loss of 1 paisa at 64.92 yesterday. Meanwhile, the benchmark BSE Sensex fell 72.53 points, or 0.24 per cent, to 29,574.89 in early trade.
Oppo to Reopen Soon Noida Plant Hit by Flag Incident
Chinese mobile company Oppo, which faced worker's unrest at its Noida plant after the incidence of disrespect to the Indian flag, on Thursday said the factory will reopen soon.
Commerce Ministry to Make Changes in Export Schemes After GST
"There is going to be certain changes (in the FTP)" due to the implementation of GST, he said here at the function of Federation of Indian Export Organisations (FIEO) here.
Govt May Relax Restrictions on Organic Agri Product Exports
According to estimates, the global organic market has touched USD 80 billion in 2014 and it is expected to reach USD 100 billion by 2020.
Indiabulls Housing Finance Raises Rs 485 crore via NCDs
A sum of Rs 350 crore has been raised at a coupon rate of 8.57 per cent per annum and a maturity of five years, while another Rs 135 crore has been raised at 8.10 per cent with maturity of one year.
SBI's Proposed Debt Less Likely to Default at BBB Rating by Fitch
The support rating floor reflects Fitch's expectation of a high probability of extraordinary support from government (BBB-/Stable), if necessary, given bank's very high systemic importance and quasi-sovereign status, it further said.