Page 646 - Business Finance
Sikkim will be first state to implement Universal Basic Income; it's different from Congress' NYAY (Comment)
On January 10, 2019, the SDF party announced in the national media that we would be implementing Universal Basic Income (UBI) in Sikkim by 2022. Following this, there has been an explosion of media coverage on UBI. It received coverage in all national media and even international media, including The Washington Post and The Strait Times.
CBDT asks I-T Dept to probe about 3 lakh de-registered firms for money laundering
The CBDT has issued directions to Income Tax offices across the country to probe financial transactions of about three lakh firms, de-registered by the government for their dubious financial credentials, for tax evasion and money laundering, especially during demonetisation. The board has asked the tax offices to undertake this special task and bring under their ambit the time period (over the last two years) when these companies were struck off from the records of the Ministry of Corporate Affairs (MCA). "To check possible misuse of such companies for money laundering activities, the board desires that the field authorities may verify deposits /withdrawals from the bank accounts of such companies during the process of striking down and just before that especially during the period of demonetisation," the CBDT said in a communication. The Central Board of Direct Taxes (CBDT) is the policy making body for the I-T Department. A senior official said the board has inputs that a number of .
Volumes soar at SBI Life Insurance Company Ltd counter
SBI Life Insurance Company Ltd clocked volume of 584.32 lakh shares by 10:48 IST on BSE, a 5108.51 times surge over two-week average daily volume of 11438 shares
MSTC slips on debut
Shares of MSTC were trading at Rs 115.10 at 10:49 IST on BSE, a discount of 4.17% over the initial public offer price of Rs 120.
Indices trim gains
Stocks trimmed gains in morning trade after an initial upmove. At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 73.37 points or 0.19% at 38,619.09. The Nifty 50 index was up 21.25 points or 0.18% at 11,591.25.
Moderate gains at Wall Street
Stocks rise despite weak economic data
Ship-building industry seeks quashing of RBI circular to survive (Part-III)
Ship-building companies have petitioned the Supreme Court that the industry can survive only if the February 12 circular of the Reserve Bank of India (RBI) is quashed and set aside.
Punjab National Bank to pare stake in PPNB Housing Finance
(i) sale of 1,08,91, 733 equity shares held in PPNB Housing Finance to General Atlantic Group at a per share price of Rs.850/- aggregating to Rs.925.80 crore; and
Reliance Jio acquiring Haptik for Rs 200 cr: Report
Reliance Jio is reportedly acquiring Haptik -- one of the world's largest conversational Artificial Intelligence (AI) platforms -- for over Rs 200 crore.
Huawei profits increase by 25% to $8.8 billion
Chinese tech giant Huawei on Friday that its annual profit jumped 25 per cent to 59.3 billion yuan ($8.8 billion) in 2018, but reported negative growth in its carrier business -- a potential sign of strain in the face of a US-led campaign against the company.
DLF allots 42.27 crore equity shares under QIP issue and on conversion of CCDs
The company has further allotted 24,97,46,836 Equity Shares of Rs. 2 each at a price of Rs. 217.25 per share (including premium of Rs. 215.25 per share) on conversion of 24,97,46,836 Compulsorily Convertible Unsecured Debentures (CCDs).
Godrej Properties Ltd Falls 2.06%
Godrej Properties Ltd has added 19.96% over last one month compared to 15.71% gain in S&P BSE Realty Index index and 7.6% rise in the SENSEX
Sensex rises over 200 its; Nifty tops 11,600 mark in early trade
The BSE benchmark Sensex jumped over 200 points and the NSE Nifty breached the 11,600 level in early trade Friday driven by heavy buying in realty, metal and pharma stocks amid unabated foreign fund inflows and positive global cues. The 30-share index pared some ground and was trading 82.05 points, or 0.21 per cent, up at 38,627.77. It had rallied 412.84 points to 38,545.72 in the previous session. The broader Nifty also gained 50.85 points, or 0.44 per cent, to 11,620.85 in morning trade. Top gainers include Vedanta, Yes Bank, SBI, Tata Motors, Tata Steel, Sun Pharma, HCL Tech, M&M, NTPC, TCS and HUL, rising up to 2.22 per cent. While, IndusInd Bank, Bajaj Auto, Bajaj Finance, Coal India, HDFC, PowerGrid and Axis Bank were among the top laggards, shedding up to 0.82 per cent. All sectoral indices were trading in the green with BSE telecom, healthcare, metal, tech and power indices surging up to 1.80 per cent. "The rise in equity market currently looks like a catch-up rally just ..
SECL crosses 150MT coal production in 2018-19 fiscal
The South Eastern Coalfields Ltd (SECL) has become the first company in the country to have crossed coal production figure of 150 million tonnes in a financial year. The SECL achieved the record during the 2018-19 fiscal and crossed the 150 million tonnes mark on March 20, a company official said. "In the wake of rising demand from the power sector, the SECL is striving hard to extract coal in full throttle. We have crossed 150 million tonnes on March 20 and are already at 153 million tonnes," SECL chief manager(P&A) P Narendra Kumar told PTI. SECL chairman and managing director A P Panda has taken all steps to expedite coal production as a result of which the SECL also touched the highest ever single day production of 7.44 lakh tonnes in this month, Kumar said. During FY 2017-18, the SECL had produced 144.7 million tonnes of coal. SECL, the largest subsidiary of Coal India Ltd (CIL), contributes about a quarter of the dry fuel production for the holding ...
Market nudges higher in early trade
Key indices edged higher in early trade on buying demand in index pivotals. At 9:27 IST, the barometer index, the S&P BSE Sensex, was up 184.33 points or 0.48% at 38,730.05. The Nifty 50 index was up 53.80 points or 0.46% at 11,623.80.
Vodafone Idea Ltd Spurts 9.87%, S&P BSE Telecom index Rises 1.33%
Vodafone Idea Ltd has lost 34.75% over last one month compared to 4.69% gain in S&P BSE Telecom index and 7.85% rise in the SENSEX
Rupee rises 15 paise to 69.15 against US dollar in early trade
The rupee appreciated by 15 paise to 69.15 against the US dollar in opening trade Friday, driven by sustained foreign fund inflows and higher opening in the domestic equity market. At the Interbank Foreign Exchange (forex), the domestic unit opened strong at 69.20 then gained further momentum and was trading at 69.15, higher by 15 paise over its previous close. On Thursday, the rupee slumped 42 paise to end at 69.30 against the US dollar. Forex traders said, the weakening of the US dollar against some currencies overseas supported the local unit, however rising crude oil prices capped the gains. The dollar index, which gauges the greenback's strength against a basket of six currencies, was marginally up by 0.01 per cent at 97.21. Brent crude futures, the global oil benchmark, was trading 0.55 per cent up at USD 68.19 per barrel. Foreign portfolio investors (FPIs) bought equities worth a net Rs 3,594.51 crore Thursday, provisional data showed. Meanwhile, the benchmark BSE Sensex was ...
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Wipro in spotlight after collaboration with IIT Kharagpur for research
Wipro and Indian Institute of Technology, Kharagpur (IIT Kharagpur) signed a memorandum of understanding (MOU) to collaborate on high-impact, industry-focused applied research in the areas of 5G and artificial intelligence (AI). Research outcomes from this partnership will be leveraged by Wipro to develop solutions for its customers, across industry verticals. IIT Kharagpur will benefit from the commercialization of the joint research insights and Wipro's real-world industry expertise. The announcement was made after market hours yesterday, 28 March 2019.
Market may open higher
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 94 points at the opening bell.