Category: BUSINESS

The BSE Sensex rebounded over 150 points in opening trade Thursday on value-buying in select bluechip stocks, recovery in rupee and fall in global crude oil prices, but pared some gains on mixed Asian trend.The 30-share BSE index recovered by 164.46 points, or 0.43 per cent, to 38,182.77 in opening trade. It, however, lost some steam and was trading 48.46 points, or 0.13 per cent, higher at 38,066.87 at 0940 hrs.The NSE Nifty was up 5.20 points, or 0.05 per cent, at 11,482.15. Sectoral indices, including realty, metal, healthcare, consumer durables,…

Read More

Transport Minister Nitin Gadkari Wednesday pitched for alternative fuels such as ethanol and methanol along with electric vehicles, reiterating that the government’s policy is to reduce import, enhance exports and curb pollution.The minister, who had last year threatened to “bulldoze” the auto industry to adopt electric vehicles, struck a conciliatory note and said the government was not against petrol and diesel fuels.”Our policy is very clear. We want to reduce imports, increase exports and finish pollution,” he said at the annual convention of the Automotive Component Manufacturers Association of India…

Read More

Global hospitality major InterContinental Hotels Group (IHG) Tuesday launched the first Holiday Inn Express hotel in Gurgaon in partnership with hotel asset firm SAMHI. Under IHG’s partnership with SAMHI for a portfolio of 14 Holiday Inn Express hotels, this property will be the first to open its doors to guests on September 15. The global hospitality chain and SAMHI had entered into a partnership in 2017 to rebrand the latter’s 14 hotels to Holiday Inn Express.Commenting on the development, IHG SWA Regional V P Vivek Bhalla said: “Our growth in…

Read More

 Petrol and diesel prices in the country touched their highest levels Monday mainly due to dramatic fall in rupee and a sharp rise in crude oil rates.Petrol price in Delhi rose to a record Rs 79.15 a litre and diesel climbed to a fresh high of Rs 71.15, according to price notification of state-owned fuel retailers.This follows ?a 31 paise/litre hike in prices on Monday. Rates have breached the previous high of Rs 78.43 a litre hit on May 28. On that day, the rate in Mumbai was Rs 86.24…

Read More

The Gujarat Government has partnered with a top India-centric American advocacy group for the Vibrant Gujarat summit in January 2019, which is expected to be attended by some of the top American corporate leaders. John Chambers, chairman of US-India Strategic and Partnership Forum (USISPF), will lead a high-level CEO delegation to the summit next year, a media release said here on Friday. Ahead of the summit, the USISPF will take out roadshows in the five cities of San Francisco, Houston, Chicago, New York and Washington DC, it said.A senior-level delegation, led…

Read More

Prime Minister Narendra Modi Saturday launched India Post Payments Bank (IPPB) that aims to take banking to the doorstep of every citizen by arming three lakh postmen and ‘Grameen Dak Sewaks’ with digital aids to deliver financial services.IPPB — which will be available through 650 branches and 3,250 access points immediately, scaled to all 1.55 lakh post offices by December 2018 — is like any other bank but with smaller scale of operations and without involving any credit risk. The freshly-minted payments bank will accept deposits of up to Rs 1…

Read More

 Markets regulator Sebi today imposed a penalty of Rs 16 lakh on two individuals for indulging in fraudulent trading activities.In three separate but similarly worded orders, the regulator imposed a total fine of Rs 10 lakh on Sunil Purohit and Rs 6 lakh on Haresh Posnak for violation of PFUTP (Prohibition of Fraudulent and Unfair Trade Practices).In Purohit case, Sebi had conducted probe into the alleged irregularity in the trading in shares of Today’s Writing Products Ltd (TWPL) and K Sera Sera Productions during December 2003 to February 2004 and…

Read More

Mumbai, Aug 30 (DIN NEWS) The US dollar ended higher against the rupee at 70.74/75 per dollar and the pound sterling also finished higher at Rs 92.07/09 at the close of the Interbank Foreign Exchange (forex) market here today. Following are the Interbank forex and FBIL rates : (In Rs per unit) Unit Interbank FBIL Reference US Dollar 70.74/75 US Dollar 70.7329 Pound Sterling 92.07/09 EURO 82.7184 Euro 82.69/71 Japanese yen (100) 63.

Read More

As much as 99.3 per cent of the junked Rs 500 and Rs 1,000 notes have returned to the banking system, the RBI said today, indicating that just a miniscule percentage of currency was left out of the system after the government’s unprecedented note ban aimed at curbing black money and corruption.The Reserve Bank of India (RBI), which has taken an awfully long time to count the currency that was returned in the limited period window provided by the government to exchange or deposit the demonetised currency, said in its…

Read More

The rupee today bounced back in tepid fashion from the record closing low, gaining 6 paise to end at 70.10 against the US currency largely tracking bearish dollar cues overseas.Most Asian currencies also recouped early losses against the greenback.Forex trading mood was upbeat after the US and Mexico agreed on a new trade deal to revamp the North American Free Trade Agreement (NAFTA) weakening demand for the safe haven US dollar worldwide. Investors cheered the development amid lingering trade concerns which have weighed on emerging market currencies in recent months.…

Read More