Category: BUSINESS

Air India’s maiden flight to Israel has landed in Tel Aviv, reducing the travel time substantially after Saudi Arabia for the first time allowed a commercial flight to use its airspace, indicating a thaw in relations between the Arab kingdom and the Jewish state. Heralding a new beginning in the people-to-people contact and diplomatic ties between India and Israel, the state-run Air India introduced the direct thrice-a-week flight from New Delhi to Tel Aviv yesterday. Saudi Arabia permitted the airline to use its airspace, enabling it to take a shorter…

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देश के शेयर बाजारों में बिकवाली के चलते शुक्रवार को गिरावट का रुख है। प्रमुख सूचकांक सेंसेक्स शुक्रवार सुबह 10.08 बजे 355.96 अंकों की गिरावट के साथ 32,650.31 पर और निफ्टी भी लगभग इसी समय 121.25 अंक लुढ़ककर 9,993.50 पर कारोबार करते देखे गए. बम्बई स्टॉक एक्सचेंज (बीएसई) का 30 शेयरों पर आधारित संवेदी सूचकांक सेंसेक्स सुबह 355.38 अंकों की गिरावट के साथ 32650.89 पर, जबकि नेशनल स्टॉक एक्सचेंज (एनएसई) का 50 शेयरों पर आधारित संवेदी सूचकांक निफ्टी 145.95 अंकों की कमजोरी के साथ 9,968.80 पर खुला.

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The BSE Sensex pared initial gains to trade in a range Thursday, amid global volatility after the US Federal Reserve’s interest rate hike. The 30-share index was trading at 33,152.99 at 1150hrs, with a gain of 16.81 points, or 0.05 per cent. The broader Nifty index was trading below the key 10,200-level, at 10,176.70, up 21.05 points or 0.21 per cent. Weakness was seen in banking and realty stocks. Major losers include SBI, M&M, ICICI Bank, Tata Steel and Adani Port, falling up to 2 per cent. While, gainers were…

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The BSE Sensex rallied over 300 points on sustained buying in realty, telecom, banking, energy and consumer durables counters, ahead of US Federal Reserve’s key policy outcome scheduled later in the day. Bouts of short-covering and firm cues from Asian markets boosted investor sentiment here. The 30-share index was trading at 33,339.93 at 1100hrs, up 343.17 points, or 1.04 per cent. The broader Nifty index was trading above the key 10,200 level at 10,222.40, up 98.05 points, or 0.97 per cent. Major gainers were Bharti Airtel, NTPC, Axis Bank, HDFC…

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Tech startups are typically founded by young entrepreneurs with more passion than experience. This is as true in India as it is in Silicon Valley. Then there’s Bigbasket, whose founders are veterans of the dotcom bust and mostly north of 50. Drawing on their successes and failures, they’ve turned their six-year-old startup into country’s biggest e-grocer and are taking on a host of competitors, including Amazon and brick-and-mortar chains operated by the nation’s biggest conglomerates. Bangalore-based Bigbasket delivers everyday cooking essentials like ghee (clarified butter), diced coconut and fragrant basmati…

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The rupee depreciated by 9 paise against the US dollar to 65.03 against in opening trade today as the greenback firmed up ahead of US Federal Reserve’s policy meet this week. A strong dollar and sustained foreign fund outflow weighed on the domestic unit amid rising current account deficit in the December quarter, a currency dealer said. The current account deficit rose to 2 per cent of the GDP at USD 13.5 billion in the December quarter, up from USD 8 billion or 1.4 per cent in the year-ago period,…

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The benchmark BSE Sensex turned choppy in early trade today amid weak global cues and a widened current account deficit, which rose to 2 per cent of the GDP at USD 13.5 billion in the December quarter. The 30-share index rebounded by 99.79 points in opening deals only to turn choppy thereafter. The gauge was trading 32.96 points, or 0.10 per cent, lower at 33,143.04. It had lost 741.94 points in the previous four sessions. Coal India, Asian Paints, Adani Ports, Hero MotoCorp, Tata Steel, Bajaj Auto and Wipro fell…

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Budget carrier IndiGo, whose 11 A320 neo aircraft powered by Pratt & Whitney (P&W) engines are grounded due to safety concerns, today had to pull out one more such aircraft from service. This is the third incident of an IndiGo A320neo, fitted with P&W engines, facing a glitch since the grounding of 11 aircraft on March 12. The A320 neo aircraft, bearing registration number VT-ITX, has not flown since 8:45 am today after landing at New Delhi’s Indira Gandhi international Airport (IGIA), according to FlightRadar24, a flight-tracking website. According to…

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Billionaire Mukesh Ambani’s telecom venture Jio, which catapulted India as the world’s largest mobile broadband data consuming nation in less than two years, was first seeded by his daughter, Isha, in 2011. This was revealed by Ambani, the richest Indian, in his acceptance speech last night after his oil-to-telecom conglomerate, Reliance Industries was presented with the ‘Drivers of Change’ award at the Financial Times ArcelorMittal Boldness in Business Awards. Since the idea first cropped up, Reliance, which owns and operates the world’s largest single location refinery complex at Jamnagar in…

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Markets regulator Sebi today imposed a fine of Rs 12 lakh on merchant banker Atherstone Capital Markets for mis-statement and non-disclosures of material developments in the IPO papers of Onelife Capital Advisors. The regulator, through an interim order in December 2011, has barred Atherstone from taking up any new assignment as merchant banker till further directions. These directions were confirmed by Sebi in January 2013 and continued to be in force till July 2016. “For the purpose of imposing penalty, I have considered the prohibition already undergone by noticee (Atherstone)…

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