Category: BUSINESS

Overdue replacement cycle of commercial vehicles will drive recovery in the market, while demand for trucks is expected to start coming back from October-November onwards, according to a top official of VE Commercial Vehicles (VECV).   Despite the challenging market situation currently, the company, a joint venture between the Volvo Group and Eicher Motors Ltd, expects that truck makers may find it difficult to supply when demand starts coming back, especially when large fleet operators opt for efficiency and productivity to drive down operating costs. “Even though the current market…

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The BSE benchmark Sensex jumped over 200 points in early trade on Friday led by gains in index-heavyweights ICICI Bank, Axis Bank and Reliance Industries amid persistent foreign fund inflow and positive cues from Asian peers. The BSE Sensex was trading 261.03 points or 0.67 per cent higher at 39,374.50; while the NSE Nifty was up 71.60 points or 0.62 per cent at 11,630.85. Axis Bank was the top gainer in the Sensex pack, surging around 4 per cent, followed by IndusInd Bank, ICICI Bank, L&T, Tata Steel, Sun Pharma…

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The BSE benchmark Sensex jumped over 200 points in early trade on Thursday tracking gains in financial stocks and persistent foreign fund inflow ahead of the expiry of monthly derivative contracts. After touching a high of 39,310.37 in opening session, the BSE Sensex was trading 200.06 points or 0.51 per cent higher at 39,273.98; while the NSE Nifty was up 52.75 points or 0.46 per cent at 11,602.35. IndusInd Bank was the top gainer in the Sensex pack, surging around 3 per cent, followed by HDFC twins, SBI, M&M, ICICI…

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Gujarat has topped the Niti Aayog’s Export Preparedness Index 2020 followed by Maharashtra and Tamil Nadu, according to the government think tank’s report released on Wednesday.   Speaking at the launch of the report Niti Aayog CEO Amitabh Kant said rapid growth of exports is a crucial component for long-term economic growth. A favourable ecosystem enables a country to contribute significantly to global value chains and reap the benefits of integrated production networks, globally, Kant added.

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Markets regulator Sebi on Wednesday proposed relaxation in norms pertaining to 25 per cent minimum public shareholding for companies which undergo corporate insolvency resolution and seek relisting following the process. Besides, it proposed enhanced disclosure for such companies. Sebi said it is possible that pursuant to implementation of the resolution plan, the public shareholding in such companies may drop to abysmally low levels. In fact, in one recent case it was observed that post corporate insolvency resolution process (CIRP), the public holding decreased to 0.97 per cent, and it showed…

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The rupee surged 11 paise to 74.77 against the US dollar in opening trade on Tuesday tracking positive domestic equities and weak American currency.   At the interbank forex market, the domestic unit opened at 74.78 against the US dollar, gained further ground and touched 74.77 against the US dollar, registering a gain of 11 paise over its previous close. It had settled at 74.88 against the US dollar on Monday. Forex traders said positive trend in the equity markets, weak American currency and sustained foreign fund inflows supported the…

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Domestic equity benchmark Sensex jumped over 100 points in early trade on Thursday led by gains in index majors TCS, Infosys and HUL amid firm cues from global peers and sustained foreign fund inflow. The BSE Sensex was trading 123.61 points or 0.32 per cent higher at 38,493.24; while NSE Nifty was up 46 points or 0.41 per cent at 11,354.40. TCS was the top gainer in the Sensex pack, rising around 2 per cent, followed by NTPC, Tech Mahindra, ONGC, SBI, Infosys and Tata Steel. IT stocks rallied after…

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Benchmark Sensex surged over 300 points in early trade on Tuesday tracking gains in index-heavyweights ICICI Bank, HDFC twins and Infosys amid sustained foreign fund inflow and firm cues from global markets. The BSE Sensex was trading 342.50 points or 0.90 per cent higher at 38,524.58; while the NSE Nifty was up 101.75 points or 0.90 per cent at 11,371.90. Axis Bank was the top gainer in the Sensex pack, rising nearly 3 per cent, followed by Tata Steel, ICICI Bank, HDFC, PowerGrid, Tech Mahindra and SBI. On the other…

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Benchmark Sensex jumped over 300 points in early trade on Monday, led by gains in index majors HDFC twins, L&T and Kotak Bank amid sustained foreign fund inflow and positive cues from global markets. The BSE Sensex was trading 317.68 points or 0.84 per cent higher at 38,358.25; while the NSE Nifty was up 92.05 points or 0.82 per cent at 11,306.10. M&M was the top gainer in the Sensex pack, rallying over 4 per cent, followed by L&T, Kotak Bank, SBI, Bajaj Finance, Sun Pharma, ITC and HDFC duo.…

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Benchmark Sensex dropped over 200 points in early trade on Friday, dragged by losses in HDFC Bank, Infosys and ICICI Bank amid weak cues from global markets. After falling to 37,787.38 points in opening session, the BSE Sensex was trading 151.50 points or 0.40 per cent lower at 37,873.95; while the NSE Nifty was down 32.95 points or 0.29 per cent at 11,167.20. HCL Tech was the top laggard in the Sensex pack, shedding over 1 per cent, followed by HDFC twins, Infosys, Sun Pharma, ICICI Bank and Kotak Bank.…

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