Category: BUSINESS

With just over three months to go for the year-end, only 11 companies have hit the capital markets so far in 2019 garnering over Rs 10,000 crore through initial share sales, much lower than 24 firms raising Rs 30,959 crore in entire 2018.The initial public offering (IPO) market is expected to remain challenging for the next few months as well due to volatility in markets on account of global and domestic factors, marketmen said.“The IPO market will continue to remain tough during the year. There has been steep correction in…

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China will lift punitive tariffs imposed on US soybeans and pork in a trade war with Washington, a state news agency said Friday, adding to conciliatory gestures by the two sides ahead of negotiations.China will suspend tariff hikes on soybeans, pork and some other farm goods, the Xinhua News Agency said, citing the Cabinet planning agency and the Commerce Ministry.Beijing “supports domestic companies in purchasing a certain amount of US farm produce,” it said, but it gave no details.The move follows President Donald Trump’s decision Wednesday to postpone a planned…

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The government will meet CEOs and top brass of electronics and smartphone makers, including Apple and Samsung, on September 16 to discuss challenges being faced by them and incentives and schemes that can be offered to position India as the ‘electronics factory’ of the world.The meeting comes at a time when India has set its sight on creating a USD 400 billion (around Rs 28.43 lakh crore) electronic manufacturing ecosystem by 2025.Interestingly, India hopes to nudge the tech titans to deepen their manufacturing commitments, leveraging the country’s market appeal, talent…

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Only 19 per cent of employers in the country have bullish hiring plans for the next three months, while 52 per cent expect no change in their payrolls, says a global survey which predict softer employment outlook in many markets for the October-December quarter.According to the ManpowerGroup Employment Outlook survey released on Tuesday, that covered 5,131 employers across India, a net 19 per cent of employers are anticipating an actual rise in their staffing numbers, while 52 per cent expect no change and 28 per cent are not sure about…

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Domestic equity benchmark BSE Sensex dropped over 150 points in early session on Monday, weighed down by losses in banking, auto and IT stocks amid unabated foreign fund outflow. The 30-share index was trading 147.20 points, or 0.40 per cent, lower at 36,834.57 at 0930 hours, while the broader Nifty rose 31 points, or 0.28 per cent, to 10,915.20. In the previous session on Friday, the BSE barometer ended 337.35 points, or 0.92 per cent, higher at 36,981.77. Similarly, the broader NSE Nifty spurted 98.30 points, or 0.91 per cent,…

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Union Road Transport and Shipping Minister Nitin Gadkari on Saturday defended the high penalty under the new motor vehicles act, saying the idea behind it is to make people conform to rules, and asked what is more important lives or money.Speaking during a programme in Nagpur, Gadkari tried to address the criticism of the high penalties under the new law, saying only those who were breaking the law were paying fines. “If one does not break the law, why will he need to pay a fine?””We are jumping red signals,…

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Indian equities gave up early gains to settle lower on Thursday due to sell-offs mainly in banking stocks after the Reserve Bank directed banks to link interest rates on all new loans with external benchmarks.Losses on the indices, however, were restricted by emergence of buying in stocks of somewhat relieved auto sector after Union Transport Minister Nitin Gadkari assured the crisis-hit industry of all possible support.After rising over 174 points in early session, the 30-share Sensex failed to sustain the momentum and gave up all gains to end 80.32 points,…

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The rupee rebounded 19 paise to 72.20 against the US dollar in early trade on Wednesday, amid weakening of the American currency in overseas market.The rupee on Tuesday had dropped sharply by 97 paise to more than nine-month low of 72.39 against the US dollar as heavy sell-off in the domestic equity market, weak macro environment and a stronger greenback kept investors edgy.At the interbank foreign exchange on Wednesday, the rupee opened at 72.20, registering a rise of 19 paise over its previous close of 72.39.The domestic unit could not…

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In an apparent sign of economic slowdown, India’s GST collections in August dropped to Rs 98,202 crore from over Rs 1.02 lakh crore in the previous month, the finance ministry said on Sunday. However, total Goods and Services Tax (GST) mop-up for August this year was 4.5 per cent higher than the Rs 93,960 crore collected in the same month last year. This is the second time during this year that the revenue collection from the GST slipped below the Rs 1 lakh crore mark. First, it happened in June…

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Equity benchmark BSE Sensex advanced 264 points on Friday, propelled by gains in index heavyweights HDFC, ICICI Bank, HUL and ITC amid positive cues from the global markets.After gyrating 568 points during the day, the 30-share Sensex ended 263.86 points, or 0.71 per cent, higher at 37,332.79. It hit an intra-day high of 37,397.97 and a low of 36,829.81.Similarly, the broader NSE Nifty rose 74.95 points, or 0.68 per cent, to close at 11,023.25.Top gainers in the Sensex pack included Yes Bank, Sun Pharma, IndusInd Bank, Tata Steel, HUL, Vedanta,…

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