Category: BUSINESS

 Equity benchmark Sensex dropped over 185 points in early trade on Monday, tracking losses in index-heavyweights HDFC twins, ICICI Bank, SBI and Bajaj Finance. The 30-share BSE index was trading 188.89 points or 0.36 per cent lower at 52,285.87 in initial deals. Similarly, the broader NSE Nifty fell 80.65 points or 0.51 per cent to 15,718.70. Bajaj Finance was the top loser in the Sensex pack, shedding around 1.65 per cent, followed by NTPC, SBI, Kotak Bank, Bharti Airtel, Dr Reddy’s and HDFC twins. On the other hand, Infosys, Reliance,…

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The pharmaceutical company Pfizer expects to earn up to US 26 billion ( 18 billion) this year from the sale of its COVID-19 vaccine. Profits for the first quarter of 2021 are apparently 44% higher than they were a year ago. Similarly, Moderna expects to make US 18.4 billion ( 13 billion), and record its first ever profit this year. This has led some to ask whether it is right for these big drug companies to effectively profit from the pandemic especially in light of commitments from competitors Johnson &…

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Equity benchmark Sensex jumped over 250 points and touched a record intra-day high of 52,578.07 in early trade on Friday, tracking gains in index-heavyweights Reliance Industries, Infosys and HDFC Bank amid a positive trend in global equities. The 30-share BSE index was later trading 241.05 points or 0.46 per cent higher at 52,541.52 in initial deals. Similarly, the broader NSE Nifty advanced 72 points or 0.46 per cent to 15,809.75. PowerGrid was the top gainer in the Sensex pack, rising around 2 per cent, followed by Reliance Industries, ONGC, HCL…

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Franklin Templeton Asset Management (India) on Tuesday said it strongly disagrees with the findings in Sebi’s order in the case of winding of six debt schemes in 2020 and has decided to challenge the direction in Securities Appellate Tribunal (SAT). Sebi, on Monday, barred Franklin Templeton Asset Management (India) from launching any new debt scheme for two years and imposed a penalty of Rs 5 crore for violating regulatory norms in the case of winding up of six debt schemes in 2020. Also, it has been asked to refund investment…

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The Reserve Bank of India on Friday said it expects retail inflation to be at 5.1 per cent in the current financial year supported by the progress of monsoon and effective supply-side interventions by the government. The projection is well within the Monetary Policy Committee’s target to keep the rate of inflation at 4 per cent with an upper or lower tolerance level of 2 per cent. However, the apex bank remained equally cautious about the upside risks due to rising global commodity prices. Moreover, the persistence of the second…

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The number of active internet users in the country is likely to grow nearly 45 per cent to 900 million by 2025 compared to 622 million as of last year, an IAMAI-Kantar Cube report released on Thursday said. According to the report, rural India may have a higher number of internet users compared to urban centres by 2025 which indicates the need to strengthen the digital ecosystem in the country. By 2025, there would be a greater number of internet users in rural India than in urban India. Given this,…

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Equity benchmark Sensex surged over 350 points in early trade on Thursday, tracking gains in index-heavyweights Reliance Industries, HDFC and Infosys amid a largely positive trend in global markets. The 30-share BSE index was trading 361.24 points or 0.70 per cent higher at 52,210.72 in initial deals, and the broader NSE Nifty jumped 100.25 points or 0.64 per cent to 15,676.45. Titan was the top gainer in the Sensex pack, rising over 4 per cent, followed by Reliance Industries, PowerGrid, Kotak Bank, HDFC, ONGC and Infosys. On the other hand,…

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Equity benchmark Sensex tumbled over 300 points in early trade on Wednesday, tracking losses in index-heavyweights HDFC, Infosys and ICICI Bank amid a largely negative trend in global markets. The 30-share BSE index was trading 309.54 points or 0.60 per cent lower at 51,625.34 in initial deals, and the broader NSE Nifty fell 70.45 points or 0.45 per cent to 15,504.40. Tech Mahindra was the top loser in the Sensex pack, shedding over 3 per cent, followed by ITC, HDFC, HCL Tech, Kotak Bank, Infosys and ICICI Bank. On the…

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Equity benchmark Sensex rallied over 300 points in early trade on Friday tracking gains in index majors Reliance Industries, HDFC twins and ICICI Bank amid positive cues from global markets. The 30-share BSE index was trading 306.57 points or 0.60 per cent higher at 51,421.79, and the broader NSE Nifty surged 101.15 points or 0.66 per cent to 15,439. ONGC was the top gainer in the Sensex pack, jumping over 3 per cent, followed by Reliance Industries, SBI, IndusInd Bank, HDFC, ICICI Bank and Axis Bank. On the other hand,…

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Equity benchmark Sensex surged over 250 points in opening trade on Tuesday, tracking gains in index heavyweights Infosys, Asian Paints and HDFC amid a positive trend in global markets. The 30-share BSE index was trading 265.07 points or 0.52 per cent higher at 50,916.97, and the broader NSE Nifty surged 86 points or 0.57 per cent to 15,283.70. Asian Paints was the top gainer in the Sensex pack, advancing nearly 3 per cent, followed by M&M, Titan, Bajaj Finserv, Nestle India, NTPC, HUL, ONGC and Infosys. On the other hand,…

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