Category: BUSINESS

Mumbai, Aug 16 (DIN NEWS) Benchmark Sensex tumbled over 188 points to close at 37,663.56 today, tracking weak global cues on concerns over Turkey’s financial crisis amid sustained foreign fund outflows. The rupee stoked more worries, slumping to an all-time low of 70.40 per dollar (intra-day). Sentiment took a hit after the country’s trade deficit soared to a near five-year high of USD 18 billion in July. The trade data was released by the Commerce Ministry on Tuesday after market hours. After opening lower at 37,796.01, the 30-share Sensex slipped…

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New Delhi, Aug 15 (DIN NEWS) A day after the rupee plunged to record low, Union Minister Arun Jaitley said India has comfortable foreign exchange reserves to deal with any undue volatility in the currency market and developments are being closely monitored. The Indian currency yesterday crashed to a life-time low of 70.09 on concerns over Turkey’s economic woes that have impacted various emerging markets, even as the US dollar gained strength against other currencies. Recent developments relating to Turkey have generated global risk aversion towards emerging market currencies and…

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New Delhi, Aug 14 (DIN NEWS) Markets regulator Sebi today disposed of a case against Arvind Lifestyle Brands Ltd saying the adjudication proceedings pertained to an unlisted company where it “has no jurisdiction”. Arvind Lifestyle was one of the clients of the registrar and transfer agent (RTA) Sharepro Services (I) Pvt Ltd. Through an interim order passed in March 2016, Sebi had directed the clients of Sharepro to conduct a thorough audit of the records and systems of the RTA within a period of three months and thereafter submit a…

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As part of its new business model, DLF will sell apartments only when it gets occupancy certificate after completing the project so as to remove any uncertainty regarding costs and delivery timelines, a senior official of the realty major said. The decision assumes significance as the Indian real estate market, especially Delhi-NCR, has been facing huge delays in project executions, forcing home buyers to protest and move courts.Lakhs of home buyers are stuck in various projects of developers such as Jaypee group, Amrapali, Unitech and The 3C Company.Highlighting the company’s…

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New Delhi, Aug 12 (DIN NEWS) Billionaire Gautam Adani’s group has bagged licences to retail gas in 21 cities in the latest city gas distribution bid round that saw state-owned Bharat Petroleum Corp Ltd’s unit and Torrent Gas emerging as the other big winners. Adani Gas won rights to retail CNG to automobiles and piped cooking gas to households and industries in 13 cities on its own and another nine, including Allahabad, in joint venture with state-owned Indian Oil Corp (IOC), according to results of 78 out of the 86…

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Top banks such as State Bank of India (SBI), HDFC Bank and Punjab National Bank have raised their interest rates on fixed deposit or FD. That means better return on investment (RoI) for the customer depositing money in a bank FD. Interest rates on government-run small savings schemes, however, remain the same. Interest rates for small savings schemes – such as Public Provident Fund (PPF) and Senior Citizen Savings Scheme (SCSS) – for the quarter ending September 2018 have been kept unchanged. In other words, the return on your investment…

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OOdisha is likely to put up about 18 mines, including iron ore blocks for auction this year, union mines secretary Anil G Mukim said today.He termed Odisha as the country’s ‘mining capital’ and said it contributes in a very substantive manner as far as mining activities of the country are concerned.Mukim met Chief Minister Naveen Patnaik here before speaking to the reporters on the auctioning of mines.”I think more and more mines are to be put up for auction. This year I have been given to understand by the state…

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Sugar mills in Maharashtra, which has seen a glut in production, owe Rs 593 crore to farmers, an official said today.The state government is making efforts to persuade the sugar mills to clear the dues of farmers, he said. The mills paid around Rs 20,682 crore as sugarcane purchase price to farmers till July this year, but there are still arrears worth Rs 593 crore, the official in the state sugar commissioner’s office said.Last year, there were arrears of only Rs two crore, he noted.State sugar commissioner Sambhaji Kadu Patil…

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Mumbai, Aug 9 (DIN NEWS) The NSE benchmark Nifty today hit a new closing high of 11,470.70, rising by 20.70 points on hectic buying mainly in banking sector stocks. Sentiments were firm following International Monetary Fund (IMF) pegging India’s economic growth at 7.5 per cent for the 2019-20 fiscal. Gains in rupee, lower crude and unabated buying by foreign institutional investors also supported the market to hit record highs. Asian equities too closed higher with China ending over a per cent higher. However, European markets fell as investors turned cautious…

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The benchmark BSE Sensex pared initial gains after hitting a record high of 37,876.87 in early trade today as investors turned cautious amid escalating global trade war concerns.  The 30-share index rose 184.98 points, or 0.49 per cent, to hit a new peak of 37,876.87. Market sentiment, however, turned cautious as the index pared gains trading 40.13 points, or 0.11 per cent higher at 37,732.02 at 0950 Hrs. The gauge had gained 526.73 points in the previous two sessions. Sectoral indices led by metal, IT, auto, teck, consumer durables, realty and…

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