Category: BUSINESS

 Equity benchmark Sensex rallied over 300 points in opening trade on Monday, tracking gains in index majors HDFC twins, SBI and ICICI Bank amid mixed cues from global markets. The 30-share BSE index was trading 310.72 points or 0.61 per cent higher at 50,851.20, and the broader NSE Nifty surged 71.90 points or 0.47 per cent to 15,247.20. PowerGrid was the top gainer in the Sensex pack, advancing over 2 per cent, followed by SBI, L&T, HDFC Bank, Maruti, Axis Bank and Dr Reddy’s. On the other hand, Titan, M&M,…

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Gold saving funds and gold exchange traded funds (ETFs) witnessed net inflows of Rs 864 crore in April amid uncertain economic environment in the wake of the second wave of COVID-19. The positive inflow is expected to continue in the financial year 2021-22 as the precious metal remains an under allocated asset in investor portfolios in these uncertain times, Chirag Mehta, Senior fund manager- Alternative Investments at Quantum Mutual Fund, said. Gold saving funds and gold ETFs have seen net inflow to the tune of Rs 184 crore and Rs…

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Equity benchmark Sensex rallied over 400 points in opening trade on Friday, tracking gains in index majors HDFC twins, ICICI Bank and Kotak Bank, despite a negative trend in global markets. The 30-share BSE index was trading 408.56 points or 0.82 per cent higher at 49,973.42, and the broader NSE Nifty surged 119.35 points or 0.80 per cent to 15,025.40. IndusInd Bank was the top gainer in the Sensex pack, advancing around 3 per cent, followed by Kotak Bank, SBI, HDFC Bank, ICICI Bank and Bajaj Finance. On the other…

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 Equity benchmark Sensex jumped over 150 points in opening trade on Thursday, but soon turned red tracking losses in index majors Axis Bank, TCS and Bajaj Finance amid negative global cues. The 30-share BSE index was trading 53.09 points or 0.11 per cent lower at 49,849.55, and the broader NSE Nifty declined 48.45 points or 0.32 per cent to 14,981.70. ONGC was the top loser in the Sensex pack, shedding around 2 per cent, followed by Sun Pharma, Axis Bank, PowerGrid, Bajaj Finance and Nestle India. On the other hand,…

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The Indian rupee inched higher by 8 paise to 72.97 against the US dollar in early trade on Wednesday amid a muted trend in the domestic equity market. At the interbank foreign exchange, the domestic unit opened on a flat note at 73.02 against the dollar, then inched higher and touched 72.97, registering a rise of 8 paise over its previous close. On Tuesday, the rupee had closed at 73.05 against the US dollar. “Markets would look to cues from the equity markets in the intra-day session, while the weakness…

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Equity benchmark Sensex surged over 300 points in early trade on Monday, tracking gains in index majors HDFC twins, ICICI Bank and Infosys. The 30-share BSE index was trading 300.45 points or 0.62 per cent higher at 49,033. Similarly, the broader NSE Nifty rose 75.60 points or 0.52 per cent to 14,753.40. SBI was the top gainer in the Sensex pack, advancing over 2 per cent, followed by IndusInd Bank, ONGC, Bajaj Finserv, ICICI Bank, HDFC and Infosys. On the other hand, L&T, Bharti Airtel, Sun Pharma, Titan and Dr…

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 Petrol price on Sunday was increased by 24 paise per litre and diesel by 27 paise, pushing rates across the country to record highs and that of petrol in Mumbai to near Rs 99 a litre. The increase led to rates in Delhi climbing to Rs 92.58 per litre and diesel to Rs 83.22, according to a price notification of state-owned fuel retailers. Rates had already crossed Rs 100-mark in several cities in Rajasthan, Madhya Pradesh and Maharashtra and with the latest increase, price in Mumbai too was inching towards…

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 Drug firm Dr Reddy’s Laboratories on Friday said it has launched COVID vaccine Sputnik V in the Indian market with the first dose being administered in Hyderabad, as part of a limited pilot. The company said the imported doses of the vaccine are presently priced at a maximum retail price of Rs 948, with 5 per cent GST per dose, amounting to Rs 995.4 per dose. “The imported doses of the vaccine are presently priced at an MRP of Rs 948 + 5 per cent GST per dose, with the…

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 The total vehicle registrations in India fell by 29.85 per cent to 1,52,71,519 units in financial year 2020-21, the lowest in the last eight years, the Federation of Automobile Dealers Associations (FADA) said on Monday. Total vehicle registrations were at 2,17,68,502 units in fiscal year 2019-20. All categories of vehicles, except tractors were in red in FY21 with two-wheeler (2W), three-wheeler (3W), commercial vehicles (CV) and passenger vehicles (PV) falling by 31.51 per cent, 64.12 per cent, 49.05 per cent and 13.96 per cent respectively — the lowest in last…

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Petrol price on Friday scaled to Rs 102 per litre in some parts of Rajasthan and Madhya Pradesh after rates were raised for the fourth straight day after ending of more than two-week-long hiatus during assembly elections in states like West Bengal. On Friday, petrol price was hiked by a steep 29 paise per litre and diesel by 31 paise a litre, according to a price notification by state-owned fuel retailers. This took the price of petrol in Delhi to Rs 91.27 per litre and that of diesel to Rs…

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