Category: BUSINESS

Equity benchmark Sensex jumped over 300 points in early trade on Tuesday, tracking gains in index majors Reliance Industries, HDFC Bank and ICICI Bank amid a mixed trend in global markets. The 30-share BSE index was trading 301.17 points or 0.61 per cent higher at 50,072.46, and the broader NSE Nifty advanced 94.40 points or 0.64 per cent to 14,830.80. IndusInd Bank was the top gainer in the Sensex pack, rising around 2 per cent, followed by Axis Bank, HDFC Bank, ICICI Bank, UltraTech Cement and Maruti. On the other…

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The country’s largest lender State Bank of India has seen a perceptible increase in the number transactions happening at its multiple digital channels, with the percentage moving from 60 per cent in the pre-pandemic period to 67 per cent currently, Chairman Dinesh Khara said. The rise in the number of digital transactions at the bank was largely driven by pick up in e-commerce during the pandemic-induced lockdown, which restricted movement, he said. When e-commerce picked up, it was actually the digital channels we are offering that got wider currency and…

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The rupee depreciated by 3 paise to 72.56 against the US dollar in opening trade on Friday, as muted opening in domestic equities weighed on investor sentiment. However, consistent foreign fund inflows and a weak dollar overseas supported the rupee, forex dealer said. At the interbank forex market, the local unit opened lower at 72.57 against the US dollar, then recovered some ground to quote at 72.56, a decline of 3 paise over its previous close. On Thursday, the rupee had settled at 72.53 against the American currency. On the…

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Asian shares mostly rose on Tuesday, cheered by a rally to all-time highs on Wall Street. Japan’s benchmark Nikkei 225 rose 0.6 per cent to 29,953.97. South Korea’s Kospi added 0.3 per cent to 3,054.77. Australia’s S&P/ASX 200 jumped 1.1 per cent to 6,846.20. Hong Kong’s Hang Seng gained 0.5 per cent to 28,971.04, while the Shanghai Composite inched down nearly 0.1 per cent to 3,417.02. The slower rollouts of the coronavirus vaccine in Asia, compared to the US and Europe, continues to put investors in the region in a…

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The Indian rupee inched 9 paise higher to 72.20 against the US dollar on Monday, tracking the weakness of the American currency in the overseas market, amid a lacklustre trend in the domestic equity market. At the interbank forex market, the local unit opened at 72.71 against the US dollar, then inched higher to 72.70 against the greenback, registering a rise of 9 paise over its previous close. On Friday, the rupee had settled at 72.79 against the American currency. Meanwhile, the dollar index, which gauges the greenback’s strength against…

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The government is committed to promote renewable energy resources in the country, especially in the micro, small and medium enterprises (MSMEs) sector, Union minister Nitin Gadkari has said. He also exuded confidence that within five years, India will be a top manufacturing hub for automobiles in the world. Gadkari, who holds MSME portfolio along with road transport, said by making solar energy available, “we will create big market for electric vehicles”. He invited investors abroad to invest in Indian MSMEs and expressed hope that this will provide a number of…

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There are green shoots visible in various sectors of the economy and the country is already looking at a ‘V-shaped’ recovery, Minister of State for Finance and Corporate Affairs Anurag Thakur said on Saturday. “India is already looking at ‘V-shaped’ recovery. Along with the green shoots in various sectors, in the month of February, FPI inflows were Rs 25,787 crore,” Thakur said at a virtual conclave organised by the Institute of Actuaries of India. After two consecutive quarters of contraction, the country’s gross domestic product (GDP) entered into a positive…

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Equity benchmark Sensex surged over 500 points in opening trade on Tuesday tracking gains in index majors HDFC twins, ICICI Bank and Reliance Industries amid mixed cues from global markets. The 30-share BSE index was trading 509.07 points or 1.01 per cent higher at 50,950.14, and the broader NSE Nifty was quoting 149.35 points or 1 per cent up at 15,105.55. HDFC Bank was the top gainer in the Sensex pack, rising around 2 per cent, followed by UltraTech Cement, Bajaj Finance, HDFC, M&M, Tech Mahindra and Asian Paints. On…

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Asian shares were mixed Monday, as some indexes were lifted by hopes for a gradual global recovery after the US economic relief package passed the Senate over the weekend. Japan’s benchmark Nikkei 225 was up 0.2 per cent in early trading at 28,926.03. Australia’s S&P/ASX 200 jumped nearly 1.0 per cent to 6,776.00, while South Korea’s Kospi shed 0.2 per cent to 3,020.40. Hong Kong’s Hang Seng fell 1.2 per cent to 3,020.40, while the Shanghai Composite fell 0.5 per cent to 3,483.92. Although shares mostly rose at first, some…

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As thousands of farmers lay siege to Delhi borders for over 100 days demanding the repeal of three contentious farm laws, those staying back in Western Uttar Pradesh have to endure a different kind of long wait — at times for multiple days just to get weighed quintals of sugarcane lying in tractor-trollies on their way from farms to mills. Some pass their time chit-chatting about the ongoing protests, others while smoking bidis or cigarettes, but all of them sound worried about loads of sugarcane drying under a scorching sun,…

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