Category: BUSINESS

After hitting 52-week high in previous session, shares of Bharti Airtel on Tuesday fell over 1 per cent after Moody’s said AGR dues are credit negative for the telecom operator. The stock was trading 1.32 per cent down to Rs 452.50 on the BSE. On the NSE, the stock declined 1.46 per cent to Rs 451.90. Adjusted gross revenue dues on Bharti Airtel are credit negative for the telecom operator despite a two-year moratorium given by the government on spectrum payment and the firm’s plan to raise mobile call and…

Read More

Finance Minister Nirmala Sitharaman in the Lok Sabha on Monday said the government’s decision to reduce corporate tax rate was aimed at attracting investment and creating jobs.The government’s decision was also necessary to attract investment from multi-national companies, which are wanting to shift operations from China in view of ongoing Sino-US trade war, she said while moving the Taxation Laws (Amendment) Bill, 2019 for consideration and passage.The Bill seeks to replace the Ordinance which was promulgated by the President in September.The government through the ordinance reduced the corporate tax rate…

Read More

India’s second quarter GDP growth slowed sharply to 4.5 per cent, the weakest pace in more than six years, as manufacturing output hit a slump and consumer demand as well as private investment weakened.The Gross Domestic Product (GDP) expansion rate moderated from 5 per cent recorded in April-June 2019 and is much weaker than the 7 per cent growth registered in July-September 2018, according to official data released Friday.The major factor in the GDP fall was manufacturing contracting by 1 per cent. A separate data showed core infrastructure industries’ output…

Read More

The Indian rupee appreciated by 10 paise to 71.40 against the US dollar in early trade on Wednesday as positive opening in domestic equities and sustained foreign fund inflows strengthened investor sentiments. Forex traders said easing crude oil prices also supported the domestic unit. At the interbank foreign exchange the rupee opened at 71.43, then gathered momentum and touched 71.40 against the US dollar, registering a rise of 10 paise over its previous close. On Tuesday, rupee had settled for the day at 71.50 against the US dollar. The domestic…

Read More

Market benchmark BSE Sensex retreated from its record high level to close down by around 68 points on Tuesday mainly due to profit booking in telecom, IT and auto stocks amid growth concerns and evolving political drama in Maharashtra. The 30-share index touched its all-time intra-day high of 41,120.28 before closing down by 67.93 points or 0.17 per cent at 40,821.30. The broader Nifty of the National Stock Exchange also soared to a new peak of 12,132.45 in day trade before giving up gains to end lower by 36.05 points…

Read More

The rupee on Monday fell 2 paise to 71.73 against the US dollar in early trade, amid increased demand of the greenback by banks and importers. Strengthening crude oil prices also impacted the rupee movement in the market, forex dealers said. However, a higher opening in domestic equity markets and persistent foreign fund inflows restricted the rupee’s fall, they added. At the interbank foreign exchange, the rupee opened strong at 71.68, showing a rise of 3 paise over its previous closing. The domestic unit, however, paired all its early gains…

Read More

 Leading media firm Amar Ujala Ltd has acquired a majority stake in Cygnus Medicare, which operates a chain of super specialty hospitals, for around Rs 130 crore as part of its expansion plans in the healthcare segment.Cygnus Medicare currently has more than 1,000 beds across its 10 super speciality hospitals in Delhi and Haryana.”We have concluded a deal of around Rs 130 crore with Cygnus Medicare to take over their 10 hospitals and added our two hospitals in the overall portfolio,” Amar Ujala Ltd Director Probal Ghosal told DIN.The company…

Read More

 Domestic equity benchmarks opened on a cautious note on Friday tracking weakness in index-heavyweight IT stocks amid mixed global cues.After opening on a positive note, the 30-share index turned choppy to trade 15.89 points, or 0.04 per cent, lower at 40,559.28. Similarly, the broader Nifty slipped 20.45 points, or 0.17 per cent, to 11,947.95. Top losers in the Sensex pack included Infosys which fell up to 3 per cent, HCL Tech 1.67 per cent, Tech Mahindra 1.65 per cent, TCS 1.52 per cent, Bharti Airtel 1 per cent and Bajaj…

Read More

Equity benchmark BSE Sensex opened over 170 points higher on Tuesday tracking gains in index-heavyweights RIL, Bharti Airtel, HDFC Bank, Axis Bank and Infosys.After hitting a high of 40,455.36 in early session, the 30-share index pared some gains to trade 58.59 points, or 0.15 per cent, higher at 40,342.78, while the broader NSE Nifty advanced 14 points, or 0.12 per cent, to 11,898.50.Top gainers in the Sensex pack included Bharti Airtel, Tech Mahindra, RIL, Axis Bank, PowerGrid, Infosys, Yes Bank and HDFC Bank, rising up to 5 per cent.On the…

Read More

Market benchmark Sensex dropped by 72 points to close at 40,284.19 on Monday due to losses in private banks, IT and energy stocks amid concerns over the economic slowdown.The 30-share index had opened on a firm note but turned negative in afternoon session due to profit booking in IT, banking and oil and gas stocks.Similarly, the broader NSE Nifty slipped 10.95 points, or 0.09 per cent, to end at 11,884.50. As many as 29 of its constituents advanced while 20 dropped.Yes Bank was among the top losers in the Sensex…

Read More