Category: BUSINESS

Equity benchmark BSE Sensex rose 84 points on Wednesday to end at 37,481 following robust buying in banking and auto stocks on ahead of the US Federal Reserve’s interest rate decision.After a choppy session, the 30-share index settled 83.88 points or 0.22 per cent higher at 37,481.12. The broader NSE Nifty ended 32.60 points or 0.29 per cent up at 11,118.00.Yes Bank was the biggest gainer in the Sensex pack, soaring 6.04 per cent, followed by IndusInd Bank, Tata Steel, HeroMotoCorp, Sun Pharma, Bajaj Auto, Power Grid, Tata Motors, SBI…

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Realty major DLF’s net debt declined 35 per cent to Rs 3,416 crore during the first quarter of this fiscal on better sales and fund infusion from promoters. According to an investor presentation, DLF’s net debt has come down to Rs 3,416 crore as on June 30, 2019 from Rs 5,283 crore at the end of the last fiscal. “Promoter Infusion of Rs 11,250 crore along with QIP proceeds of Rs 3,173 crore has enabled the residential business to achieve very low levels of leverage. Near term target is to make it…

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US President Donald Trump on Friday said he would impose tax on French wine in retaliation of France’s digital tax that would impact American companies.“I told him (French President Emmanuel Macron) don’t do it, because if you do it, I’m going to tax your wine — tariff or tax — call it whatever you want. So, yeah, we are working on that right now,” Trump told reporters at the White House.Earlier, Trump spoke to Macron over phone, during which the two leaders discussed a host of issues, including addressing the…

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Domestic equity benchmarks BSE Sensex and NSE Nifty opened on a cautious note on Friday tracking weak global cues, amid sustained foreign fund outflow.The 30-share index was trading 3.11 points or 0.01 per cent higher at 37,834.09 at 0945 hours; and the broader Nifty was also quoting flat at 11,252.15In the previous session, the 30-share index closed at 37,830.98, showing a loss of 16.67 points or 0.04 per cent, and the broader NSE Nifty too shed 19.15 points or 0.17 per cent to settle at 11,252.15.In early trade, M&M, Tata…

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German luxury carmaker BMW is evaluating options of launching new products, including electric vehicles, in India in next few years, a top official said on Thursday.The company, which on Thursday introduced two models — all new sports activity vehicle X7 and new version of 7 Series sedan — in the country, however added that the new product launches would depend on market conditions.”We have around five products planned for the coming years. Which one of those is better for India or at what time the launch will happen, I don’t…

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Mumbai, Jul 24 (DIN NEWS) The economy will not be able to achieve the official forecast of 7 percent growth in FY20, making it a second consecutive year of sub-7 percent expansion, says a report. Singaporean lender DBS estimates FY20 growth to stay at 6.8 percent, the same as FY19. The economic survey earlier this month had pegged growth to rise to 7 percent. “FY20 growth is likely to be sub-7 percent for a second straight year,” its economists led by Radhika Rao, said in a note Wednesday. The report…

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Domestic equity benchmark BSE Sensex fell below the 38,000 mark, shedding nearly 100 points in early trade, on Tuesday amid heavy foreign fund outflow and weak domestic cues.The 30-share index was trading 103.50 points or 0.27 per cent lower at 37,927.63 at 0930 hours; and the broader Nifty also fell 28.50 points or 1.25 per cent to 11,317.70.In the previous session, the 30-share index cracked 305.88 points or 0.80 per cent to settle at 38,031.13, and the broader NSE Nifty sank 82.10 points 0.72 per cent to close at over…

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As part of innovative modes of financing to meet India’s huge infrastructure appetite, insurance giant LIC has agreed to offer Rs 1.25 lakh crore line of credit by 2024, to fund highway projects, Union Minister Nitin Gadkari said. Keen on timely execution of the Rs 8.41 lakh crore ambitious Bharatmala project that aims to lay a grid of highways pan-India, the Road Transport and Highways Ministry has been looking to harness various sources of finances including pension and insurance funds.”LIC has offered us Rs 25,000 crore in a year and…

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Richest Indian Mukesh Ambani has kept his annual salary from his flagship firm Reliance Industries capped at Rs 15 crore for the eleventh year on the trot.Ambani has kept salary, perquisites, allowances and commission together at Rs 15 crore since 2008-09, forgoing over Rs 24 crore per annum.This is at a time when remunerations of all whole-time directors of the company, including cousins Nikhil and Hital Meswani, saw a handsome increase in the fiscal year ended March 31, 2019.”Compensation of Shri Mukesh D Ambani, Chairman and Managing Director, has been…

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Video streaming company Netflix will roll out a cheaper mobile-only plan in India as it looks to woo viewers amid growing competition from Amazon Prime Videos and other local players.The premium content platform also believes that growth in the Indian market is a marathon; and that it is witnessing steady progress here.After several months of testing, the company has decided to roll out a lower-priced mobile-screen plan in India to complement existing plans, Netflix said in a statement.”We believe this plan, which will launch in Q3, will be an effective…

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