Category: BUSINESS

The BSE benchmark Sensex surged over 443 points and the NSE Nifty advanced 115 points in opening trade on Monday, ahead of the Union Budget 2021-22 presentation in Parliament. The 30-share Sensex was trading higher by 443.06 points or 0.96 per cent at 46,728.83; and the broader Nifty was up 114.85 points or 0.84 per cent at 13,749.45. On the Sensex chart, IndusInd Bank, ICICI Bank, HDFC, ONGC, Titan and HDFC Bank were prominent gainers. Of the Sensex constituents, 16 shares were trading in the green. On Friday, the Sensex…

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As the shortage of semiconductors expected to linger on in the next fiscal as well, leading automakers like Tata Motors, Honda and Kia Motors are actively engaging with their supplier partners in order to carry on with stable production activities at their manufacturing plants in the country. Semiconductors are silicon chips that cater to control and memory functions in products ranging from automobiles, computers and cellphones to various other electronic items. The usage of semiconductors in the auto industry has gone up globally in recent times with new models coming…

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The country’s exports are expected to contract by 5.8 per cent and imports by 11.3 per cent during the second half of the current financial year, though implementation of several measures by the government would help support exports going forward, according to the Economic Survey 2021. With gradual recovery of economic activities, the survey said that imports and exports have picked up. During the first half of 2020-21 (April-September), exports dipped by 21.31 per cent to USD 125.25 billion while imports declined by 40 per cent to USD 148.69 billion.…

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Chinese social media firm Bytedance, which owns Tiktok and Helo apps, has announced the closure of its India business following continued restrictions on its services in the country. Tiktok’s global interim head Vanessa Pappas and vice president for global business solutions Blake Chandlee in a joint email to employees have communicated the decision of the company that it is reducing team size and the decision will impact all employees in India. The executives expressed uncertainty on the company’s comeback to India but expressed hope to do so in times to…

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Petrol price on Tuesday edged past Rs 86 a litre mark in the national capital and diesel soared above Rs 76 after rates witnessed maximum increase in the last one year. Petrol and diesel prices were hiked by 35 paise per litre each on Tuesday, according to a price notification from oil marketing companies. This took petrol price in Delhi to Rs 86.05 per litre and Rs 92.62 in Mumbai. Diesel rate climbed to Rs 76.23 a litre in the national capital and to Rs 83.03 per litre in Mumbai,…

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The BSE benchmark Sensex surged 346.55 points in the opening session on Monday, propelled by a rally in financial stocks. The 30-share index was trading 346.55 points or 0.71 per cent higher at 49,225.09 in opening trade. Likewise, the NSE barometer Nifty rose 88.40 points or 0.62 per cent to 14,460.30 in early deals. On the Sensex chart, UltraTech Cement, Bajaj Finance, HDFC, Axis Bank, Bajaj FinServ, HDFC Bank and Mahindra and Mahindra were the prominent gainers. On the other hand, RIL, PowerGrid, Asian Paints, ONGC and ITC were among…

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Finance Minister Nirmala Sitharaman, Minister of State for Finance Anurag Thakur and senior officials of the finance ministry on Saturday participated in the symbolic ‘Halwa Ceremony’ that marks the beginning of compilation of budget documents. Unlike the past, the voluminous budget documents will not be printed this year following the COVID-19 protocol and will instead be distributed electronically to the Members of Parliament (MPs). Previously, the ceremony marked the launch of printing exercise for the budget. This will be the first time since the presentation of independent India’s first budget…

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The rupee clawed back lost ground towards the fag-end of the session and settled with a marginal 2 paise gain at 72.97 against the US dollar on Friday, supported by easing crude oil prices. At the interbank foreign exchange market, the domestic unit opened lower and traded in the negative territory most part of the session, tracking a massive selloff in domestic equities. The rupee touched a low of 73.09 and a high of 72.96 during the day. The domestic unit finally ended 2 paise higher at 72.97 against the…

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Extending its gains for the third straight session, the Indian rupee added another 6 paise to settle at a near five-month high of 72.99 against the US dollar on Thursday, tracking a weaker American currency overseas and sustained foreign fund inflows. At the interbank forex market, the rupee opened higher at 72.96 and touched the day’s high of 72.93 against the greenback before shedding some gains towards the fag-end of the session. It finally closed higher by 6 paise at 72.99 to the dollar, a level not seen since September…

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 Equity benchmark Sensex rallied nearly 500 points in early trade on Tuesday tracking strong gains in index majors Reliance Industries, HDFC and Infosys amid a positive trend in global markets. The 30-share BSE index was trading 485.97 points or 1 per cent higher at 49,050.24. Similarly, the broader NSE Nifty surged 134.05 points or 0.94 per cent to 14,415.35. Bajaj Finance was the top gainer in the Sensex pack, rising around 2 per cent, followed by SBI, ONGC, IndusInd Bank, Reliance Industries, HDFC and Axis Bank. On the other hand,…

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