Category: BUSINESS

Equity benchmarks Sensex and Nifty opened on a flat note on Tuesday tracking a mixed trend in global markets and sustained foreign fund outflow. The 30-share BSE index was trading 22.82 points or 0.04 per cent higher at 52,758.41 in initial deals. Similarly, the broader NSE Nifty inched 7.45 points or 0.05 per cent up to 15,822.15. Asian Paints was the top gainer in the Sensex pack, rising over 1 per cent, followed by PowerGrid, L&T, TCS, Reliance Industries, HCL Tech and ITC. On the other hand, ICICI Bank, M&M,…

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MG Motor India can launch a new electric vehicle with a price tag below Rs 20 lakh mark in the country over the next two years, according to a top company official. The model would be the automaker’s second electric vehicle in the country after the ZS SUV which is currently tagged between Rs 21 lakh and Rs 24.18 lakh (ex-showroom). “We have been very pleased with our electric vehicle product performance till now. We intend to launch more electric cars in the future and hopefully we can look at…

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Equity benchmark Sensex and Nifty opened on a positive note on Friday amid a firm trend in global markets. The 30-share BSE index was trading 65.90 points or 0.13 per cent higher at 52,764.90 in initial deals. Similarly, the broader NSE Nifty advanced 32 points or 0.20 per cent to 15,822.45. Tata Steel was the top gainer in the Sensex pack, rising over 3 per cent, followed by Maruti, HCL Tech, ICICI Bank, Maruti, Axis Bank and SBI. On the other hand, Reliance Industries, HUL, Asian Paints, Kotak Bank and…

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The Indian rupee strengthened by 12 paise to 74.25 against the US dollar in early trade on Wednesday even as the domestic equity market was trading with significant losses. Traders said the Federal Reserve Chair Jerome Powell’s comments that the US central bank will not raise interest rates too quickly supported investor sentiments. At the interbank foreign exchange, the domestic unit opened at 74.26 against the dollar, then inched higher to 74.25, registering a gain of 12 paise over its previous close. On Tuesday, the rupee had settled at 74.37…

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Equity benchmark Sensex rallied over 350 points to scale a fresh intra-day record in early trade on Tuesday, tracking gains in index-heavyweights Reliance Industries, HDFC twins and ICICI Bank, amid a positive trend in global equities. After touching a lifetime intra-day peak of 52,957.13, the 30-share BSE index was trading 374.92 points or 0.71 per cent higher at 52,949.38 in initial deals. Similarly, the broader NSE Nifty surged 115.05 points or 0.73 per cent to 15,861.55. Maruti was the top gainer in the Sensex pack, rising over 2 per cent,…

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Mahindra Logistics saw a “significant” impact on its business in the last two months due to lockdowns in various states, but now it is back on “stronger” recovery path and expecting this momentum to further consolidate during the second half of this fiscal, a top company official has said. With COVID-19 lockdowns and restrictions being eased in various states, the company is optimistic of carry on the positivity in business outlook gathered in June to the third and fourth quarter of FY2022. As far as its preparedness for the likely…

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Equity benchmark Sensex jumped over 200 points in early trade on Friday, tracking gains in index-heavyweights Infosys, HDFC twins and ICICI Bank amid a largely positive trend in global equities. The 30-share BSE index was trading 220.53 points or 0.42 per cent higher at 52,543.86 in initial deals. Similarly, the broader NSE Nifty advanced 53.70 points or 0.34 per cent to 15,745.10. ONGC was the top loser in the Sensex pack, shedding over 2 per cent, followed by PowerGrid, M&M, Maruti, L&T, NTPC and Titan. On the other hand, Bajaj…

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Reserve Bank Governor Shaktikanta Das has pitched for policy support from all sides — fiscal, monetary and sectoral — to nurture recovery of the economy hit by the second wave of the coronavirus pandemic. The dent on economic activity due to the second wave of the pandemic during April-May necessitated continuation of monetary measures to support the process of economic recovery to make it durable, Das had said while participating in the meeting of the Monetary Policy Committee (MPC) earlier in the month. “Overall, the second wave of COVID-19 has…

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Equity benchmark Sensex tumbled over 300 points in early trade on Thursday, tracking losses in index-heavyweights HDFC twins, ICICI Bank and Reliance Industries amid a largely negative trend in global equities. The 30-share BSE index was trading 302.80 points or 0.58 per cent lower at 52,199.18 in initial deals. Similarly, the broader NSE Nifty declined 93.70 points or 0.59 per cent to 15,673.85. Tech Mahindra was the top loser in the Sensex pack, shedding around 1 per cent, followed by PowerGrid, HDFC, HDFC Bank and Axis Bank. On the other…

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India’s fuel demand rebounded in the first half of June as easing of coronavirus lockdowns helped sales but the consumption was still lower compared to last year. While petrol sales rose by 13 per cent during June 1-15 over the same period of last month, diesel consumption was up 12 per cent, according to data compiled by state fuel retailers. This is the first monthly increase since March. Fuel demand had recovered to near-normal levels in March before the onset of the second wave of Covid-19 infections led to the…

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