Category: BUSINESS

Gold prices recovered by Rs 110 to Rs 32,320 per 10 grams at the bullion market today, largely on the back of pick-up in buying by jewellers’ to meet wedding season demand amid a firm trend overseas. However, silver ready held steady at Rs 40,450 per kg in scattered deals from industrial units and coin makers. Bullion traders attributed the recovery in gold prices to a firm trend overseas and buying by local jewellers to meet the ongoing wedding season demand at domestic spot market. Globally, gold rose 0.48 per…

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The Sensex rallied about 180 points to 34,893.20 in early session today, maintaining its positive form for the second straight day as the May derivatives series took off on a strong footing amid encouraging earnings and positive Asian cues. Unabated buying by domestic institutional fulled the uptrend, brokers said. The 30-share Sensex, which gained 212.33 points in the previous session, added 179.60 points, or 0.51 per cent, at 34,893.20. All sectoral indices of BSE led by realty, banking and metal were in the positive zone, rising by up to 1.07…

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Tech major Adobe is betting big on sectors like banking and financial services and hospitality to drive its growth in India. The company, which offers digital management solutions, works with a number of Indian firms including Flipkart, Tata CLiQ, HDFC Bank and SpiceJet among others. “Sectors like e-commerce and media houses were early adopters of our solutions in India but today, we see strong demand also coming in from sectors like BFSI, retail, hospitality, government and education with clients looking for solutions to manage and enhance the digital experience for…

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Expressing disappointment over the US plans to prohibit spouses of H1-B visa holders to work in America, India today hoped that the Trump administration would take “corrective actions” on the issue. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations which require theoretical or technical expertise. The technology companies depend on it to hire tens of thousands of employees each year from countries like India and China. “The US decision to put certain restrictions on visas is quite disappointing and we…

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Bharti Infratel board has reappointed Akhil Kumar Gupta as Executive Chairman of the company for five years with effect from August 1, 2018.   “The Board of Directors in its April 23, 2018 meeting has reappointed Akhil Kumar Gupta as the Executive Chairman of the company, not liable to retire by rotation, for a further term of five years with effect from August 1, 2018,” Bharti Infratel said in a BSE filing. His reappointment is however subject to shareholders’ approval. Gupta also serves as Vice Chairman of Bharti Group. He…

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Prices for energy commodities like oil, natural gas and coal are expected to jump by a whopping 20 per cent this year, the World Bank has said in a report. The increase in energy prices is expected to have adverse impact on India, given that the country is heavily dependent on import of major energy commodities. The latest World Bank forecast is a 16-percentage point upward revision from October’s outlook, the World Bank said in its April Commodity Markets Outlook released yesterday. Oil prices are forecast to average USD 65…

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Global software major Infosys will invest more in digital technologies to drive business and look for strategic inorganic acquisitions. “As digital is not just about technologies but driving business outcomes, we will invest more in it as we are well positioned in it (digital),” Infosys Chief Executive Salil Parekh told analysts at a meeting. Presenting the company’s strategic direction, Mr Parekh said there was tremendous loyalty and expectation from the clients on digital future. “As lot of core areas needed digitsation, we are working on them,” he noted. The company has drawn a three-year…

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The Enforcement Directorate today said it has attached assets worth Rs. 1,122 crore, including wind mills and an under-construction hotel, of Vadodara-based DPIL Pvt Ltd in connection with its money laundering probe in a bank fraud case. Diamond Power Infrastructure Limited (DPIL) is accused of cheating various banks to the tune of Rs. 2,654 crore. The central probe agency had filed a criminal case against the firm and its promoters under the Prevention of Money Laundering Act (PMLA), after taking cognisance of a CBI FIR, and had searched its premises last month. “The assets…

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The Supreme Court today said it was “extremely unfortunate” that several states have not responded to two communications sent by the Centre on the issue of elephant corridors to curb human-animal conflict and reduce animal fatalities. The apex court pulled up these states and noted that only three — Kerala, West Bengal and Meghalaya — have so far responded to the letters sent by the Centre in August and November last year. “It is extremely unfortunate,” a bench comprising Justices Madan B Lokur and Deepak Gupta said. It asked the…

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