Page 788 - Business Finance
Bajaj Auto sells 3.93 lakh units in February
Motorcycle sales rose 10% to 327,985 units while commercial vehicles sales grew 8% to 65,104 units in February 2019.
Bharat Heavy Electricals announces change in directorate
With effect from 01 March 2019
Escorts records 12% growth in tractor sales in Feb 2019
Domestic tractor sales in February 2019 stood at 6,918 tractors registering a growth of 9.9% against 6,295 tractors in February 2018.
Sensex opens 200 points up, metal stocks surge
Sensex and Nifty opened on a firm note on Friday as the benchmark Sensex jumped 200 points and the Nifty traded at 10,850.
Bharti Airtel Ltd Slips 2.17%
Bharti Airtel Ltd has added 2.54% over last one month compared to 1.45% gain in S&P BSE Telecom index and 1.43% rise in the SENSEX
Bharti Airtel slips after board approves fund raising
Bharti Airtel fell 1.87% to Rs 312 at 9:28 IST on BSE after the company said that its board approved raising upto Rs 32,000 crore through equity and bond sales.
Steel Authority of India Ltd Surges 2.59%
Steel Authority of India Ltd has added 4.76% over last one month compared to 0.54% gain in S&P BSE Metal index and 1.33% rise in the SENSEX
Rupee slips 14 paise against US dollar in early trade
The rupee depreciated by 14 paise to 70.86 against the US dollar in early trade Friday on increased demand for the US currency from importers and foreign fund outflows. Besides, strength in dollar against major rival currencies on stronger US economic data also kept pressure on the Indian rupee, dealers said. However, a higher opening in domestic equities helped in restricting the slide in the Indian unit to some extent, they added. On the macro-economic front, a caution prevailed after official data showed that country's economic growth slowed to a 5-quarter low of 6.6 per cent in the October-December period. Also, economic growth estimate for the current fiscal year ending March 31 has been revised downwards to 7 per cent from the earlier estimate of 7.2 per cent. This is the lowest growth in the last five years. On Thursday, the rupee rebounded by 52 paise to close at 70.72 against the US dollar as sentiments revived on signs of de-escalation of tensions between India and ...
Australia Market trades higher
The U.S. economy grew at 2.6% year on year in the fourth quarter of 2018, down from 3.4% in the previous quarter, the U.S. Commerce Department reported on Thursday.
China Market ups on Caixin PMI data, MSCI decision to boost stocks weighting
China's factory activity improved in February but remained in contractionary territory for a third month as the world's second-largest economy continued to struggle with weak export orders, a private survey showed on Friday. The readings - closely watched by investors as an alternative to the official data and more focussed on smaller firms - offered further evidence China's economy is losing momentum and suggests the U.S.-Sino trade war will continue to weigh on exports as prospects for a trade deal remain uncertain. The Caixin/Markit Manufacturing Purchasing Managers' Index (PMI) for February rose to 49.9 from 48.3 in January, just below the neutral 50-mark dividing expansion from contraction on a monthly basis. Economists had forecast a sharper deterioration for February of 48.5.
Japan Nikkei rises on solid U.S. GDP data, softer yen
The U.S. economy grew at 2.6% year on year in the fourth quarter of 2018, down from 3.4% in the previous quarter, the U.S. Commerce Department reported on Thursday.
BJD accuses Centre of destroying railways in Odisha by creation of SCoR at Vizag
Odisha's ruling Biju Janata Dal (BJD) on Thursday strongly criticised the Centre's decision to bifurcate the Bhubaneswar-headquartered East Coast Railway to create a new zone with its headquarters at Andhra Pradesh's Visakhapatnam.Union Railway Minister Piyush Goyal on Wednesday announced that the Indian Railways will create a new zone named 'South Coast Railway' (SCoR) with headquarter in Vishakapatanam, Andhra Pradesh."With the creation of South Coast Railway with headquarter at Vishakapatnam and transferring major assets and part of the Waltair Railway Division (Vishakapatnam) to this new Railway Zone is yet another attempt by the Centre to destroy the railways in Odisha," BJD statement said.The BJD said that the Centre's proposal of splitting and transferring a major part of the Waltair Railway Division (Vishakapatnam) to this new Railway Zone has "sounded a death bell to the railways in Odisha under East Coast Railway"."If the BJP is acceding to a political decision in case of ...
Ceramic industry looks to double turnover by 2021
Fuelled by the growing construction sector in the country and a rise in exports to the advanced nations, the Indian ceramic industry, which has the potential to be the largest producer in the world, is looking to double its turnover by 2021, according to industry experts.
GST rate cut to spur Bengaluru realty market growth: Credai
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rates become effective from April 1, builders' apex body Credai said on Thursday.
Cabinet approves National Mineral Policy 2019
The Union Cabinet on Thursday approved the National Mineral Policy 2019 with an aim to ensure more a sustainable mining sector, more effective regulation and to encourage private sector in the field.
Virgo Laminates - Branding Partner for 2019 India vs Australia Series
Virgo Laminates is proud to announce that they are being truly honoured as the Branding Partner for ongoing India vs Australia T20 & ODI series, which began from February 24th, 2019. Virgo Laminates has always believed in promoting the "Game of Gentlemen" as it has the potential to bring the nations together by providing a platform to showcase global talent, and also highlights some of the most significant skills, and also at times, tests their true endurance levels.It is not too surprising to take this honour of collaborating with global audiences and business associates at the highest level as Virgo Laminates has already enjoyed this glory of being a part of such global cricketing events in the past as well. Virgo Laminates was the branding partner for India vs Sri Lanka Series in the year 2017; and also in the year 2018, they were the branding partners for India vs England Series.For the ongoing India vs Australia T20 & ODI series, Nikhil Arora, Director at Virgo ...
IRCTC launches digital payment gateway, IRCTC iPay
IRCTC on Thursday launched its own payment aggregator system called IRCTC iPay.With the launch of IRCTC iPay, the passengers will not need any third-party platforms as the IRCTC iPay provides payment options like Credit Card, Debit Card, UPI - Unified Payment Interface, International Card. The option of IRCTC Prepaid Card cum wallet, Auto Debit will also be available soon.Now, IRCTC will have full control of the payment system because of its direct relationships with acquiring banks, card networks and other partners. This will help reduce the gap between IRCTC and banks which will eventually lead to a substantial reduction in payment failures.Moreover, in case an online transaction is unsuccessful or some other error occurs, IRCTC can directly get in touch with the bank instead of relying on an intermediate source which usually delays the process.The back-end support will be provided by Delhi based MMAD communications, which is IRCTC's technology partner.
Cabinet approves Rs 1,450 crore for RBI's share capital in National Housing Bank
The Union Cabinet on Thursday approved payment of the face value of the subscribed share capital of Rs 1,450 crore in National Housing Bank (NHB) to Reserve Bank of India (RBl) consequent to amendments made to the NHB Act, 1987 in 2018.NHB is an apex agency established to operate as the principal agency to promote housing finance institutions in India. The wholesale financing role of NHB will get strengthened with the transfer of ownership to the government, thereby making possible augmented funding support to housing finance companies.The change in ownership from RBI to the central government will also segregate RBI's role as a banking regulator and as the owner of NHB.The expenditure of Rs 1,450 crore is to be met out of Gross Budgetary Support 2018-19. The beneficiaries are the RBI and the housing sector.NHB is an All India Financial Institution (AIFI), set up in 1988, under an Act of Parliament, viz. the National Housing Bank Act, 1987 (Central Act No. 53 of 1987). It is an apex ..
Cabinet okays SPV to house Air India's debt
The Union Cabinet here on Thursday approved creation of a special purpose vehicle (SPV) -- Air India Assets Holding Ltd -- for warehousing accumulated working capital loans of the national carrier.
Cabinet approves railway zone at Vishakhapatnam
The Union Cabinet here on Thursday approved setting up of a Railway Zone at Vishakhapatnam and a new division with headquarters at Rayagada in Odisha by reorganising the existing South Central Railway and East Coast Railway.