Category: BUSINESS

Market regulator Sebi imposed a fine totalling Rs 34 lakh on 10 entities for indulging in fraudulent trading in the shares of Mindvision Capital.The Securities and Exchange Board of India (Sebi) had conducted an investigation in the trading activities of the company between June 2009 and February 2010.The probe found that the entities were connected to each other and executed circular trading in the scrip of Mindvision, which resulted in creation of artificial volume.The total volume that was contributed by the circular trading was 94,745 shares which is 12.5 per…

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The government has recently announced a series of measures to try to win over farmers, small business owners and the less well-off, after the ruling party suffered setbacks in state elections and with a general election due in months. The measures are likely to be a drain on finances in Asia’s third-biggest economy, where Prime Minister Narendra Modi’s government is trying to stick to a decade-low fiscal deficit target of 3.3 per cent of the gross domestic product.  But PM Modi’s ruling Bharatiya Janata Party (BJP) has promised even more…

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Infosys has dropped plans to sell Panaya and two other subsidiaries Skava and Kallidus after it failed to find any potential buyers.In April, Infosys had announced its plan to sell Panaya — the Israeli firm whose acquisition became a contentious issue between the founders and the erstwhile management led by Vishal Sikka — along with Kallidus and Skava. It expected the sale to be completed by March 2019.”During the quarter ended December 31, 2018, based on evaluation of proposals received and progress of negotiations with potential buyers, the company concluded…

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The extended US-China talks to resolve the trade war between the world’s two largest economies concluded here on a positive note Wednesday with a senior American official describing the dialogue as “good one” for the US. A US delegation arrived in Beijing on Monday for the first face-to-face dialogue with officials in Beijing since President Donald Trump and his Chinese counterpart Xi Jinping agreed to a three-month tariff truce during a meeting held on the sidelines of the G-20 summit in Argentina on December 1.The US delegation was supposed to…

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 The Reserve Bank of India Tuesday constituted a high-level committee under Aadhaar architect Nandan Nilekani to suggest measures to strengthen the safety and security of digital payments in the country.The five-member panel on deepening of digital payments has been constituted with a view to encourage digitisation of payments and enhance financial inclusion through digitisation, the RBI said in a statement. “The committee shall submit its report within a period of 90 days from the date of its first meeting,” it added. The panel has been tasked with reviewing the existing status…

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Indian economy is expected to grow at 7.2 per cent in 2018-19, a tad higher from 6.7 per cent in the previous fiscal, mainly due to improvement in the performance of agriculture and manufacturing sectors, the Central Statistics Office (CSO) said Monday.The CSO estimate is, however, a bit lower than 7.4 per cent growth projected by the Reserve Bank for the current fiscal.Releasing the first advance estimates of National Income for 2018-19, the CSO said, “The growth in GDP during 2018-19 is estimated at 7.2 per cent as compared to…

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The US and China are dealing the trade negotiations at the highest levels, President Donald Trump said, claiming that America’s steel industry has come “roaring back” following the last year’s tariff hikes.The Trump administration imposed heavy tariffs on imported steel and aluminium items in March last year, a move that sparked fears of a global trade war.In the past, China, the world’s second largest economy after the US, imposed tit-for-tat tariffs on billions of dollars worth of American imports. An agreement reached between the two countries on the margins of…

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The BSE benchmark Sensex jumped 181 points Friday while the NSE Nifty reclaimed the 10,700-mark, driven by robust buying in banking, metal and pharma stocks amid positive global cues and a strengthening rupee.After swinging over 350 points intra-day, the 30-share Sensex finally settled 181.39 points, or 0.51 per cent, higher at 35,695.10.Similarly, the broader NSE Nifty ended 55.10 points, or 0.52 per cent, up at 10,727.35.During the week, Sensex fell 381.62 points and the Nifty shed 132.55 points.The biggest gainers in the Sensex pack in Friday’s session were Yes Bank,…

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Domestic equities declined for the second day as the BSE benchmark Sensex Thursday fell over 100 points on weak global cues and heavy selling by foreign and domestic institutional investors. The 30-share index was trading 103.90 points, or 0.29 per cent, lower at 35,787.62 in morning trade. Similarly, the NSE Nifty declined by 28.85 points, or 0.27 per cent, to 10,763.65. On Wednesday, the BSE Sensex finished lower by 363.05 points, or 1 per cent, at 35,891.52; and the NSE Nifty plunged 117.60 points, or 1.08 per cent, to settle…

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Mumbai, Jan 2 (DIN NEWS) The Indian rupee Wednesday crashed by 75 paise, its first loss in last four sessions, to close at 70.18 against the US dollar amid strengthening of the greenback and heavy selling in domestic equities. At the Interbank Foreign Exchange (forex) market, the rupee opened lower at 69.60 and fell further to touch the day’s low of 70.23 a dollar. The domestic currency, however, pared some losses and finally ended at 70.18 per dollar, down by 75 paise against its previous close. On Tuesday, the rupee…

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