Page 698 - Business Finance
Discovery Communications India signs content sharing pact with Dailyhunt
Discovery Communications India Tuesday said it has entered into a partnership with news and local content discovery app, Dailyhunt. Under the partnership, Discovery Communications India (DCIN) will have a video destination named Discovery Plus on the home page of Dailyhunt app, offering short-form video content especially customised for the digital audiences in India, the company said in a statement. The partnership will help DCIN immediately expand its footprint on the digital domain in India, leveraging 153 million monthly user base of Dailyhunt platform, it added. On the other hand, Dailyhunt will get access to content library and upcoming titles of Discovery, it added. "The partnership with Dailyhunt offers us an exciting opportunity to understand, analyse and explore India's burgeoning digital play," Simon Robinson, managing director, Discovery Asia Pacific and chief financial officer, Discovery International said. Dailyhunt President Umang Bedi said the company is confident ...
GST Council approves transition plan for new tax rates for real estate sector
The all-powerful GST Council Tuesday approved a transition plan for the implementation of new tax structure for housing units, Revenue Secretary A B Pandey said. Reasonable time for transition will be given to developers in consultation with states, he told reporters here. The meeting deliberated on the transition provision and related issues for the implementation of lower GST rates for the real estate sector. The Council had in its last meeting on February 24, slashed tax rates for under-construction flats in affordable category to 1 per cent. GST rate on other categories was reduced to 5 per cent, effective April 1. Pandey said GST rates for new projects will be mandatory from April 1.
Indices trading with small gains
Key indices held onto small gains in afternoon trade. At 13:18 IST, the barometer index, the S&P BSE Sensex, was up 44.69 points or 0.12% at 38,139.76. The Nifty 50 index was up 9.55 points or 0.08% at 11,471.75.
T.V. Today Network Ltd drops for fifth straight session
T.V. Today Network Ltd is quoting at Rs 326.55, down 0.87% on the day as on 13:24 IST on the NSE. The stock tumbled 22.27% in last one year as compared to a 13.3% rally in NIFTY and a 22.38% fall in the Nifty Media index.
Indiabulls Ventures Ltd eases for fifth straight session
Indiabulls Ventures Ltd is quoting at Rs 273.95, down 0.07% on the day as on 13:24 IST on the NSE. The stock tumbled 22.27% in last one year as compared to a 13.3% rally in NIFTY and a 21.34% fall in the Nifty Financial Services index.
Maruti Suzuki India Ltd eases for fifth straight session
Maruti Suzuki India Ltd is quoting at Rs 6842.25, down 0.97% on the day as on 13:24 IST on the NSE. The stock tumbled 22.27% in last one year as compared to a 13.3% rally in NIFTY and a 21.14% fall in the Nifty Auto index.
Apollo Tyres Ltd down for fifth straight session
Apollo Tyres Ltd is quoting at Rs 217, down 0.44% on the day as on 13:24 IST on the NSE. The stock tumbled 17.57% in last one year as compared to a 13.3% rally in NIFTY and a 21.14% fall in the Nifty Auto index.
RCom shares zoom 10%; hit upper circuit after payment to Ericsson
Shares of Reliance Communications zoomed 10 per cent Tuesday after the company cleared dues of a Swedish service provider at the eleventh hour. The scrip jumped 10 per cent to Rs 4.40, its upper circuit limit, on the BSE. At the NSE, shares rose sharply by 10 per cent to Rs 4.40. Embattled billionaire Anil Ambani Monday warded off a possible jail term as RCom cleared dues of a Swedish service provider at the eleventh hour with money received from elder brother Mukesh and his wife Nita, whom he thanked for standing by him in trying times and extending "timely support". Anil's heavily debt-laden Reliance Communications made a Rs 550 crore payment, including interest, to Ericsson just a day before expiry of the deadline set by the Supreme Court to clear dues or face a three-month jail term. In a statement, RCom said Rs 550 crore dues to Ericsson, including interest dues, has been made in compliance with the Supreme Court judgement. Anil, whose businesses in telecom and power sectors went
Asian stocks dip ahead of Fed meeting but pound enjoys rebound
Asian markets dipped Tuesday as investors bide their time until the Federal Reserve's latest policy meeting, while the pound fought back against the dollar after taking a hit from the latest twist in the Brexit saga. With little fresh information on developments in China-US trade talks, focus has turned this week to the US central bank and its interest rate plans. Board members are widely expected to hold fire on another hike but its post-meeting statement Wednesday will be pored over, with observers predicting the Fed will opt for just one increase this year as opposed to the two previously tipped, owing to the stuttering economy. The Fed's softer tone has been one of the key factors in a global stocks rally this year, with investors buoyed by the prospect of cheap borrowing. Wall Street provided a positive lead with all three main indexes ending higher, though Asia struggled to take up the baton. Hong Kong inched down 0.1 per cent after three days of gains, while Shanghai closed 0.2
Domestic Economic Growth Picks Up Pace, Private Consumption Supported
The underlying trend of economic growth remained strong in India, Budesbank, the German central bank noted in its commentary on emerging economies in a monthly update. It appears that overall economic growth picked up pace again at the end of the year after the annual growth rate had fallen slightly in the third quarter to 7.1%. This is suggested by at least some short-term indicators. One of these, the Purchasing Managers' Index for the manufacturing sector, rose markedly in the fourth quarter, bucking the global trend. Industrial production likewise recorded distinct growth.
SpiceJet joins IATA
Low cost carrier SpiceJet on Tuesday said it has become a member of global airlines' grouping IATA. SpiceJet is the first Indian budget carrier to join the International Air Transport Association (IATA), which has over 290 airlines as members. "The IATA membership is also significant on account of SpiceJet's plans to rapidly expand its international footprint," the airline said in a statement. The membership also allows SpiceJet to explore and grow its collaborations with international member airlines of IATA through interlining and code shares, enabling to seamlessly expand the network options for its passengers in future, it added.
South Indian Bank Ltd soars 1.58%
South Indian Bank Ltd is quoting at Rs 16.05, up 1.58% on the day as on 12:54 IST on the NSE. The stock is down 33.26% in last one year as compared to a 13.26% spurt in NIFTY and a 23.7% spurt in the Nifty Private Bank index.
Indian Bank up for third straight session
Indian Bank is quoting at Rs 273.3, up 1.75% on the day as on 12:54 IST on the NSE. The stock is down 5.35% in last one year as compared to a 13.26% jump in NIFTY and a 11.16% jump in the Nifty PSU Bank index.
Canara Bank gains for third straight session
Canara Bank is quoting at Rs 278.8, up 2.42% on the day as on 12:54 IST on the NSE. The stock is up 9.68% in last one year as compared to a 13.26% jump in NIFTY and a 11.16% jump in the Nifty PSU Bank index.
Dr Reddys Laboratories Ltd up for third straight session
Dr Reddys Laboratories Ltd is quoting at Rs 2708.7, up 1.47% on the day as on 12:54 IST on the NSE. The stock is up 25.57% in last one year as compared to a 13.26% jump in NIFTY and a 8.41% jump in the Nifty Pharma index.
Power Finance Corporation Ltd spurts 6.58%, gains for third straight session
Power Finance Corporation Ltd is quoting at Rs 122.35, up 6.58% on the day as on 12:54 IST on the NSE. The stock is up 37.55% in last one year as compared to a 13.26% spurt in NIFTY and a 21.25% spurt in the Nifty Financial Services index.
Power Grid Corporation of India Ltd soars 1.19%
Power Grid Corporation of India Ltd is quoting at Rs 199.4, up 1.19% on the day as on 12:54 IST on the NSE. The stock is up 2.31% in last one year as compared to a 13.26% gain in NIFTY and a 23.76% gain in the Nifty Energy index.
Reliance Infrastructure Ltd gains for third consecutive session
Reliance Infrastructure Ltd is quoting at Rs 139.75, up 3.52% on the day as on 12:54 IST on the NSE. The stock is down 69.15% in last one year as compared to a 13.26% spurt in NIFTY and a 23.76% spurt in the Nifty Energy index.
State Bank of India in demand
State Bank of India is quoting at Rs 304, up 1.69% on the day as on 12:54 IST on the NSE. The stock is up 22.04% in last one year as compared to a 13.26% gain in NIFTY and a 22.76% gain in the Nifty Bank index.
Punjab National Bank extends upmove
Punjab National Bank is quoting at Rs 90.4, up 4.33% on the day as on 12:54 IST on the NSE. The stock is down 6.66% in last one year as compared to a 13.26% jump in NIFTY and a 22.76% jump in the Nifty Bank index.