Business Blogs News - Page 17

Sensex, Nifty open on volatile note in early trade on weak domestic macroeconomic data concerns; Bharti Airtel, SBI, Tata Motors shed over 3%

After opening on a positive note, the Sensex turned choppy to trade 54.61 points, or 0.14 percent, lower at 40,061.45

Rupee depreciates 15 paise against US dollar tracking weak macroeconomic data, rising crude prices

At the interbank foreign exchange, the rupee opened marginally higher at 72.05 against the US dollar, before turning negative and dropping 15 paise to 72.24 against its previous close

DHFL crisis: High Court says mortgage financier can provide payments to SBI, other lenders with which it has securitisation deals

DHFL can make all the future payments as well as those payments that were due since October 10 when the court had passed the earlier order, the judge said

Narendra Modi woos business leaders at BRICS; urges them to invest in world's most open, investment friendly economy

Narendra Modi is in Brazil for the 11th BRICS Summit which will focus on building mechanisms for counter-terrorism cooperation and strengthen India's ties with the world's five major economies

Credit growth picks up rapid pace from September, jumps by Rs 1.08 lakh cr; housing, NBFC, MSME provide boost: SBI study

The monthly SBI Composite index remained volatile and was at 50.83 (low growth) in October compared to 51 (low growth) in September.

Vodafone CEO Nick Read blames media for misrepresenting his statement; says telecom firm to stay invested in India

Vodafone Group CEO Nick Read is learnt to have written back to Prime Minister Narendra Modi promising that the company will remain invested and blamed the media for distorting his remarks made around telecom business in India

Coffee Day Enterprises reports multi-fold jump in net profit at Rs 1,567 cr thanks to Mindtree disinvestment

The company, which runs Cafe Coffee Day chains, had reported a profit of Rs 21.06 crore for April-June period a year ago

Reserve Bank of India becomes net buyer of dollars, purchases $5.61 bn in September

In FY19, the Reserve Bank of India was a net seller of the dollar offloading $15.377 billion in the spot market. It had bought $40.804 billion and sold $56.181 billion in the year to March 2019

E-retailers cannot influence prices of goods on platform; must adhere to fair trade practices: Draft guidelines

The Consumer Affairs Ministry has issued draft 'The Consumer Protection (e-Commerce) Rules, 2019 and sought comments on the same by 2 December

Vodafone says future in India could be in doubt after Supreme Court judgment over licence fees

Nick Read, Vodafone's CEO said the company was not committing any more equity to India and the country effectively contributed zero value to the company’s share price.

Nirmala Sitharaman says Centre to form about 10,000 farmer produce organisations; urges state govts to push for eNAM, dismantle APMCs

Addressing the 6th World Congress on Rural and Agri Finance, Sitharaman said the government has put rural and farmer development on a larger map

IIP contracts for second consecutive month: Economy goes into a tailspin; $5 tn target is distant dream unless out-of-box measures are taken now

The signs of further weakness in the Indian economy are emerging from every high-frequency data indicator.

Stock, currency, debt markets closed for Guru Nanak Jayanti; Asian shares left guessing on trade, await Trump speech

Asian share markets flatlined on Tuesday as uncertainty over Sino-US trade talks and political strife in Hong Kong dogged sentiment, while safe-haven bonds eked out a bounce

NCLT orders insolvency proceedings against Aviva Life Insurance; Apeejay Trust files case, claims Rs 27.67 lakh default payment

Aviva- JV between Dabur Invest Corp (Dabur group) and Aviva International Holding Ltd--has not paid license fee, car parking, maintenance/service charge and service tax. It had made its last payment in this regard on 5 October 2017 and from then the debt was lying due

NBFCs, HFCs to soon get Rs 20,000 cr funds under credit guarantee scheme announced in Budget, says finance secretary Rajiv Kumar

in August, the government had issued guidelines to operationalise Rs 1-lakh crore partial guarantee scheme to address temporary asset-liability mismatches of otherwise solvent NBFCs/HFCs.

Ensure adequate credit flow to MSMEs, they are in genuine need of funds: Anurag Thakur

The MSME sector, which is the backbone of the economy, needs a lot of support from the banking industry, said Thakur

Recent measures taken by govt will stimulate investments, give push to GDP growth in coming months, says Venkaiah Naidu

Venkaih Naidu said the fundamentals of the Indian economy are strong and the country continues to be among the fastest growing major economies of the world

Lupin to divest entire stake in Japanese subsidiary Kyowa Pharma to PE fund Unison Capital Partners for over Rs 3,702 cr

Under the terms of agreement, Lupin's subsidiary Nanomi BV will divest its entire stake in Kyowa to Unison's entity Plutus Ltd for an enterprise value of JPY 57,361

Larsen & Toubro's construction arm bags contracts ranging between Rs 1,000 cr to Rs 2,500 cr across segments

Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $21 billion in revenue

Income tax slabs, change in capital gains tax in offing; to boost govt revenues by over Rs 55,000 cr: Report

The report also suggests removing prosecution and reopening of assessment for those who declare and pay higher income tax for a past period of up to six years with interest and 50 percent penalty

Baba Ramdev-led Patanjali open to collaboration with 'videshi' MNCs as long as it doesn't clash with its 'desi' values: Report

Baba Ramdev, the yoga guru and promoter of home-grown FMCG company Patanjali Ayurved, has in the past been vocal about taking the deep-pocketed multinational foreign companies operating in India head-on

Infosys plans to hire another law firm to strengthen investigation into whistleblowers' allegations: Report

A whistleblower letter stating alleged financial misconduct and “unethical practice” against Infosys Chief Executive Officer Salil Parekh and chief financial officer Nilanjan Roy

Apple co-founder Steve Wozniak joins gender discrimination debate; says Apple Card algorithm gave wife lower credit limit

The much-anticipated titanium credit card, part of a broader effort by Apple to derive greater revenue from services after years of heavy reliance on iPhone sales, was launched in August, in partnership with Goldman Sachs Group Inc

Saudi Aramco to sell up to 0.05% shares to individual retail investors; prospectus flags risks, gives few details on IPO size

Aramco cannot list additional shares for a period of six months after trading starts, and will also be restricted from issuing additional shares for 12 months

No claimants for about a dozen dormant Swiss bank accounts of Indians; risk getting liquidated

The Swiss government began making details of dormant accounts public in 2015 to allow their claimants submit necessary proof to get access to those funds, which included at least 10 accounts linked to Indians

With 57,000 BSNL employees opting for VRS, DoT instructs corporation to ensure business continuity measures

If the VRS reaches full target, the staff strength will come down by half. The effective date of voluntary retirement under the present scheme is 31 January, 2020.

Nirmala Sitharaman’s announcement for housing: AIF for NPA-tagged projects is a great idea, but devil is in the detail

The big relief to the home buyers and developers in Sitharaman�s announcement is that the fund can be availed by even those projects that are tagged as NPAs by banks

Nirmala Sitharaman's support for realty indicates Narendra Modi govt's willingness to get into micro details to revive growth in other sectors

The present decision to open a new window for finance is hence quite timely and should address to a large extent the woes of the real estate segment

Moody’s lowers India’s outlook to ‘negative’ from ‘stable’: Fundamentals of economy remain robust with inflation under check, says FinMin

As India’s potential growth rate remains unchanged, assessment by IMF and other multilateral organizations continue to underline a positive outlook on India, FinMin said in a statement

Sensex drops over 185 points, Nifty 49 points down as Moody's cuts India outlook to negative; Sun Pharma, HUL, Airtel among major losers

Moody’s Investors Service has changed the outlook on India’s ratings to ‘negative’ from ‘stable’, saying there was an increasing risk that economic growth would remain materially lower than the past