Category: BUSINESS

National Stock Exchange of India Ltd. (NSE) has included technology consulting and digital solutions company Larsen & Toubro Infotech (LTI) in its Nifty Next 50 Index. LTI got listed in July 2016, and the company has grown rapidly during last the four years, leading to this significant milestone in its growth journey, it said in a release. The NIFTY Next 50 Index is computed basis free float methodology i.e taking the firm’s equity price and multiplying it by the number of shares readily available in the market, it was noted.…

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A spike in new virus cases outside China spooked Asian markets Friday after Wall Street pulled back from record highs as more companies warned earnings could be hurt by the epidemic.More than 2,200 people have died from the novel coronavirus, which has infected over 75,000 people, mostly in China, and spread panic around the world. While Beijing claims its epidemic control efforts are working, the rising death toll and number of new infections abroad have rattled investors.A batch of warnings from companies over the impact of the virus on bottom…

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Market benchmark BSE Sensex tumbled over 245 points to trade at 40,810 in openings deals on Tuesday on hectic selling by investors across sectors amid growing concerns over the economic impact of coronavirus epidemic. The NSE gauge Nifty fell about 75 points to trade at 11,971 in early trade. Analysts said worries persist over rising death toll and the economic fallout from the novel coronavirus. The death toll from China’s coronavirus epidemic climbed to 1,868 on Tuesday as 98 more people died while the total number of confirmed cases jumped…

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With the government coming down heavily on telcos after the Supreme Court’s rap, Bharti Airtel on Monday said it has paid Rs 10,000 crore to the telecom department towards statutory dues.The company said it will make payment of balance amount after self-assessment exercise.”The…amount of Rs 10,000 crore has been paid on behalf of Bharti Airtel, Bharti Hexacom, and Telenor,” the Sunil Mittal-led company said in a statement.As much as Rs 9,500 crore has been paid on behalf of Bharti Airtel (including Telenor India which merged with the company), and another…

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Market benchmarks Sensex and Nifty dropped by almost half a percentage point on Friday as banking shares tumbled following the Supreme Court taking a strong note of non-compliance of its order asking telcos to pay Rs 1.47 lakh crore in statutory dues. The 30-share BSE Sensex fell by 202.05 points or 0.49 per cent to end at 41,257.74, with 22 of its constituents closing with losses. The broader NSE Nifty shed 61.20 points or 0.50 per cent to settle at 12,113.50 as banking, auto, FMCG and energy counters retreated. The…

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Markets snapped their two-session slide to close with smart gains on Tuesday, mirroring optimism in the global markets as investors wagered on limited economic impact of the coronavirus outbreak.Led by gains in index heavyweights RIL, ICICI Bank and HDFC, the 30-share BSE Sensex settled 236.52 points, or 0.58 per cent, higher at 41,216.14.Similarly, the broader NSE Nifty rose 76.40 points, or 0.64 per cent, to 12,107.90.NTPC, Maruti Suzuki, SBI, PowerGrid, Bajaj Auto, UltraTech Cement and Axis Bank rose up to 2.95 per cent.On the other hand, Bharti Airtel, Mahindra and…

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Indian equities fell for the second straight session on Monday in line with global markets that continued to reel under mounting death toll and economic damage from the deadly coronavirus. At close, the BSE Sensex was down 162.23 points, or 0.39 per cent, at 40,979.62. The index swung about 373 points during the day. Likewise, the NSE gauge Nifty ended lower by 66.85 points, or 0.55 per cent, to 12,031.50. Indices were mainly dragged lower by heavy losses in auto and metal stocks. On the Sensex chart, Mahindra and Mahindra…

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Market benchmark Sensex jumped over 100 points in opening session on Thursday ahead of the outcome of Reserve Bank of India’s monetary policy review amid strong cues from global markets. The 30-share BSE index was trading 125.32 points or 0.30 per cent higher at 41,267.98, and the broader NSE advanced 46.20 points, or 0.38 per cent, to 12,135.35. In the previous session, Sensex ended 0.87 per cent or 353.28 points higher at 41,142.66. While, Nifty rose 109.50 points, or 0.91 per cent, to settle at 12,089.15. Meanwhile, on a net…

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India is eyeing defence export of USD 5 billion in the next five years, Prime Minister Narendra Modi said on Wednesday, highlighting the measures taken by his government to boost manufacturing and woo investors to set up a base in the country. Inaugurating the 11th edition of DefExpo here, Modi said a country of the size of India cannot entirely depend on imports and added the number of defence licenses issued in the last five years has risen to 460 from 210 in 2014, the year he first came to…

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Amid slowing GDP growth and rising inflation, the Reserve Bank of India (RBI) will unveil its last monetary policy for the current financial year on Thursday.The sixth bi-monthly monetary policy statement for 2019-20 would be the last one for the current financial year.The Monetary Policy Committee (MPC) will meet during February 4-6 for the policy review, the RBI said in a release on Monday.The RBI said it will place the resolution of the MPC on its website before noon on February 6.The government has estimated India’s gross domestic product (GDP)…

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