Category: BUSINESS

After starting on a positive note, the benchmark BSE Sensex fell over 100 points today on weak global cues as investors eyed the outcome of US-China trade talks, ahead of the US jobs report. The 30-share index, after opening 103.41 points higher, turned negative on profit-booking to quote 118.75 points, or 0.34 per cent, lower at 34,984.39. The gauge had lost 73.28 points in the previous session. The 50-share NSE Nifty also turned negative and shed 33.06 points, or 0.31 per cent, to 10,646.05 after a higher opening at 10,700.45.…

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The gold demand in India declined by 12 per cent in the first quarter of this year to 115.6 tonne compared to the same period last year due to high local gold price, the World Gold Council (WGC) said in a report. The total demand stood at 131.2 tonne in the January- March period in 2017, WGC said in its ‘Gold Demand Trends’ report for Q1 2018. In terms of value, the gold demand fell by 8 per cent to Rs 31,800 crore, compared to Rs 34,440 crore in the…

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After starting on a positive note, the benchmark BSE Sensex fell over 80 points in early trade today on weak Asian cues as tariff woes between the US and China returned, ahead of trade talks between the two countries. The 30-share index, after opening 80.89 points higher, turned negative on profit-booking at current levels to quote 86.59 points, or 0.22 per cent, lower at 35,089.83 The gauge had rallied 675.15 points in the previous four sessions The 50-share NSE Nifty also turned negative and shed 27.80 points, or 0.26 per…

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The government today approved a production subsidy of Rs 5.5 per quintal for sugarcane farmers to help cash-starved millers clear cane arrears that have surged to about Rs 20,000 crore due to sharp fall in sugar prices on record production. The Cabinet Committee of Economic Affairs has approved a production-linked subsidy of Rs 55 per tonne (Rs 5.5 per quintal) for cane farmers, sources said. The move also comes at a time when Karnataka, a leading sugarcane producing state, is going for polls on May 12. Welcoming the decision, industry…

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Sebi is examining the sharp plunge in shares of InterGlobe Aviation, parent of IndiGo, hours before it announced the resignation of its president Aditya Ghosh, officials said. The Securities and Exchange Board of India (Sebi) is probing a more than 6 per cent plunge in the country’s largest domestic carrier’s shares price on April 27. Hours after the market close that day, the airline announced the resignation of Ghosh at 7.56 pm. While his resignation as president is effective from July 31, Ghosh quit as a director of the company…

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Media firm NDTV has sold 7.38 per cent stake in subsidiary Red Pixels Ventures to A R Chadha And Co, the landlord of its office premises in the national capital, to meet working capital requirements and pay outstanding rent. “The board of directors of the company…considered and approved transfer of up to 7.38 per cent stake of the company at the rate of Rs 59,824 per equity share in Red Pixels Ventures Ltd (RPVL), a material subsidiary of the company, to A R Chadha And Co (India) Pvt Ltd, the…

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Allowing only authorised people to access computer labs, banning use of USBs, blocking pop ups and keeping a check on appearance of new and unfamiliar icons on desktop are among the cyber security and safety guidelines issued to schools and parents by the NCERT. The National Council of Education Research and Training (NCERT) has sent the detailed guidelines to schools defining the role of teachers as well as parents in promoting safe, legal, and ethical use of internet by students. “The students should be taught to not engage or argue…

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Aayog will soon come out with a development agenda for ‘New India 2022’, which will spell out strategy for expediting economic growth, its vice chairman Rajiv Kumar said today. Kumar further said NITI Aayog will start working on a 15-year vision document after finalising the development agenda document for ‘New India 2022’. “The NITI Aayog is committed to bringing out a vision document and a strategy framework as originally mandated. The work on the strategy document is on advanced stage and will most likely be titled Development Agenda document for…

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Fortis Healthcare on Saturday said that its Board will meet on May 10 to consider the recommendations made by its “expert advisory committee” (EAC) which has been set-up to evaluate all binding proposals for fund infusion. As per a regulatory filing, the company informed the stock exchanges that its EAC will now consist of two members “who have already been appointed to the EAC viz. Mr. Deepak Kapoor and Mr. Lalit Bhasin”. Earlier, Renuka Ramnath who is a former MD and CEO of ICICI Ventures, had resigned from the EAC.…

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Sensex and Nifty closed at their highest levels in nearly three months today, boosted by strong gains in bankingstocks and market heavyweight Reliance Industries. The BSE benchmark index Sensex surged 256 points to end at 34,969 while the NSE Nifty finished at 10,692, up 74 points. Reliance Industries, which is expected to report a higher quarterly profit later in the day, rose over 2 per cent. Among the banking stocks, Axis Bank surged 9 per cent while SBI gained 4 per cent. ICICI Bank also rose over 3 per cent. Positive management guidance helped Axis…

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