Category: BUSINESS

The BSE benchmark Sensex recovered over 100 points Tuesday, led by strong buying by domestic institutional investors amid positive global cues. The 30-share index was trading 124.21 points, or 0.35 per cent, at 35,622.65. Similarly, the 50-share NSE Nifty rose 38.90 points, or 0.37 per cent, to 10,679.85. Top gainers in the Sensex pack include Bharti Airtel, Bajaj Finance, M&M, PowerGrid, ICICI Bank, ONGC, L&T, Bajaj Auto, Vedanta, Tata Steel, Axis Bank and Yes Bank, rising up to 1.45 per cent. On the other hand, HUL, Tata Motors, Infosys, HDFC,…

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The BSE benchmark Sensex Monday fell over 150 points, led by weakness in auto, IT and financial stocks amid heavy selling by foreign institutional investors, as investors turned cautious ahead of RBI’s board meet. The 30-share index, after rising over 100 points, fell 158.94 points, or 0.44 per cent, to 35,650.01. Similarly, the 50-share NSE Nifty fell 44.45 points, or 0.41 per cent, to 10,679.95. According to traders, investors were cautious ahead of RBI’s board meeting. Finance Minister Arun Jaitley is scheduled to address the customary post-budget meeting of the…

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Finance Minister Arun Jaitley is scheduled to address the customary post-budget meeting of the central board of the Reserve Bank on Monday and highlight the key points of the interim Budget, including the fiscal consolidation roadmap. The meeting, according to sources, will take a call on the interim dividend to be paid to the government during the current fiscal. The government expects Rs 28,000 crore from the RBI as interim dividend for 2018-19 based on the financial position of the central bank. Last financial year, the RBI had paid an…

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Mumbai, Feb 15 (DIN NEWS) The rupee slipped by 7 paise to close at 71.23 against the US dollar Friday, pressured by heavy foreign capital outflows and firming oil prices. This is the third straight session of loss for the domestic currency, during which it has depreciated by 53 paise. On a weekly-basis, the rupee registered a loss of 8 paise. At the Interbank Foreign Exchange (forex) market, the rupee opened lower at 71.22 and fell further to touch the day’s low of 71.44. The local unit covered some lost…

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Continuing its fall for the sixth straight session Thursday, the benchmark BSE Sensex dropped 158 points led by losses in IT, metal and energy stocks amid sustained foreign fund outflow and lacklustre global cues.The 30-share index, after shuttling between 35,799.42 and 36,109.10, finally settled 157.89 points, or 0.44 per cent, down at 35,876.22. It had lost 840 points in the previous five sessions.The broader NSE Nifty lost 47.60 points, or 0.44 per cent, to end at 10,746.05. Intra-day, it shuttled between 10,718.75 and 10,792.70.Top losers in the Sensex pack include…

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Observing that the Central Goods and Services Act was enacted with the laudable object of “one country one tax”, the Madras High Court on Tuesday dismissed the anticipatory bail applications filed by nine persons apprehending arrest under the provisions of the Act. Justice Anand Venkatesh, in his order, said, “Where the accused persons are charged of violations of the CGST Act, involving colossal loss of revenue to the exchequer and the investigation is at a very nascent stage, prudence demands that this court should lay off its hands from investigation…

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Benchmark equity indices opened on a cautious note Tuesday ahead of the release of key macroeconomic numbers amid selling by foreign and domestic investors. The 30-share Sensex was trading 3.66 points, or 0.01 per cent, lower at 36,391.37 in early trade. The index had lost 580 points in the previous three sessions. The broader NSE Nifty slipped 3.95 points, or 0.04 per cent, to 10,884.85.Major losers were Infosys, TCS, Hero MotoCorp, HCL Tech, Bajaj Finance, Axis Bank, Bajaj Auto, IndusInd Bank and Maruti, falling up to 2.42 per cent.While the…

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 Prime Minister Narendra Modi exuded confidence on Monday that India would continue to be the fastest-growing large economy, and could be the second-largest economy in the world by 2030.“Leading agencies such as IMF and World Bank project the same trend to continue in the coming years. In an uncertain global economic environment, India has shown tremendous resilience as an anchor of the world economy,” Modi said addressing inaugural address of Petrotech 2019 here.Modi said, currently, India is fastest-growing large economy in the world… and it “recently became the sixth-largest economy…

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After catapulting LPG coverage by about 40 per cent in just 55 months, the government will soon make available clean cooking fuel to all households, Oil Minister Dharmendra Pradhan said Sunday.Speaking at the Petrotech 2019 conference here on the outskirts of Delhi, he said coverage of LPG in the country has reached close to 90 per cent, rising from about 55 per cent in 2014.”Very soon, India will be connecting all households with clean cooking fuel. The source of fuel will be LPG as well as gas from bio-mass and…

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Public debt has rapidly increased in many Arab countries since the 2008 global financial crisis, due to persistently high budget deficits, the International Monetary Fund warned Saturday.”Unfortunately, the region has yet to fully recover from the global financial crisis and other big economic dislocations over the past decade,” IMF Managing Director Christine Lagarde said.”Among oil importers, (economic) growth has picked up, but it is still below pre-crisis levels,” she told the Arab Fiscal Forum in Dubai.Lagarde said public debt among Arab oil importing nations had increased from 64 percent to…

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