Page 807 - Business Finance
Govt Announces Sale (Re-issue) Of Govt Stocks Worth Rs 12000 Crore
The Government of India has announced the Sale (Re-issue) of (i) '7.00 per cent Government Stock, 2021' for a notified amount of Rs. 2,000 crore (nominal) through price based auction, (ii) '8.24 per cent Government Stock, 2027' for a notified amount of Rs. 2,000 crore (nominal) through price based auction, (iii) '7.95 per cent Government Stock, 2032' for a notified amount of Rs. 3,000 crore (nominal) through price based auction, (iv) '7.40 per cent Government Stock, 2035' for a notified amount of Rs. 2,000 crore (nominal) through price based auction, and (v) '7.06 per cent Government Stock, 2046' for a notified amount of Rs. 3,000 crore (nominal) through price based auction. Subject to the limit of Rs. 12,000 crore, being total notified amount, Government of India will have the option to retain additional subscription up to Rs. 1,000 crore each against any one or more of the above securities. The auctions will be conducted using multiple price method. The auctions will be ...
Prabhu for extending interest subsidy to more products from chemical sector
Commerce and Industry Minister Suresh Prabhu Tuesday made a case for extending interest subsidy benefits to more products from the chemical sector to boost exports. The government provides interest subsidy of 5 per cent to certain sectors, including the micro, small and medium sector, under its interest equalisation scheme. Currently, the subsidy is also given to certain products from the chemical sector. It helps exporters get credit at affordable rates. "Minister (Prabhu) elaborated that expansion of interest equalisation scheme needs to be done by adding more tariff lines, the process of environmental clearance to be speeded up especially relating to product mix and also expeditious approval process," the ministry said in a statement. These issues were discussed during a meeting called by Prabhu with representatives of pharma and chemical industries. The minister also stated that there is a need for the removal of pre-import condition for advance authorisation with prospective ...
Markets fall as Indian forces attack Pak terror camps
Equity benchmark indices ended lower on Tuesday after Indian fighter jets blasted major terror camps in Pakistan following a suicide militant attack in Pulwama about two weeks ago.With escalations in geo-political tensions, the uncertainty in stock markets could linger on, traders said. Banks, infrastructure, metals and autos are likely to be among the worst performers in case of a negative sentiment.The BSE S & P Sensex plunged 240 points down to close at 35,974 with Yes Bank, ICICI Bank, State Bank of India, Hero MotorCorp and Tata Steel among the worst performers.Shares of Dewan Housing Finance Corporation (DHFL) slipped 8 per cent on the Bombay Stock Exchange in early morning trade after rating agency ICRA downgraded the company's commercial papers worth Rs 8,000 crore to A2+ from A1+.However, shares of Tata Motors ended higher for the 10th straight trading session, up 4.07 per cent at Rs 183 per share, as Tata Sons increased its stake in the company by nearly one percentage ..
Quick Wrap: Nifty Media Index rises 3.22%
Powered by Capital Market - Live News
Grab Recognized as a Top Innovative Company in the World
/ -- Southeast Asia's Leading Super app Grab, with close to 200 employees in Bangalore, has taken the 2nd spot among the world's 50 most innovative companies this year by Fast Company Grab, the leading super app in Southeast Asia with a global R&D centre in Bangalore, has been ranked as a top transportation company and second overall on Fast Company's 'Most Innovative Companies' list for 2019. The list honors the businesses making the most profound impact on both industry and culture around the world. Grab in Bangalore currently employs almost 200 and has plans to double this workforce in the next 12-18 months. In giving Grab the No. 2 rank, Fast Company described it as a 'transactional super app' that brings together various lifestyle services that connect hundreds of millions of customers to local businesses in South East Asia. Grab's Bangalore based employees are an integral part of the company's most innovative and exciting projects across the region and play a critical role .
Nifty February futures at discount
Turnover in F&O segment spurts
India, Italy discuss ways to promote trade, investments
India and Italy Tuesday discussed ways to increase cooperation in areas such as machinery, infrastructure, engineering, and agriculture to promote trade and investments between the countries. These issues were discussed during the meeting of 20th India-Italy Joint Commission for Economic Cooperation (JCEC) here. It is an institutional mechanism for bilateral trade engagement held at the level of the Minister of Commerce and Industry of the two countries. "Both India and Italy are looking towards the development of bilateral economic and trade relations through facilitating dialogue and enhancing cooperation in a wide range of sectors like machinery, infrastructure, engineering, digitalisation, agriculture and IPR," the commerce ministry said in a statement. The two-day session is being co-chaired by Commerce and Industry Minister Suresh Prabhu and by Deputy Minister of Economic Development Michele Geraci from the Italian side. The 19th JCEC meeting was held in Rome in May 2017. The ...
Lenovo led Indian tablet market in CY2018
Lenovo led the tablet market in CY2018 with 24 per cent market share even as Indias tablet PC market witnessed a three per cent decline when compared to CY2017, a new report CyberMedia Research (CMR) said on Tuesday.
French automotive group PSA to launch Citroen brand in India
French automotive group PSA on Tuesday said it would launch its Citroen brand of cars in India from its plant near here.
Ex-AWS executive Amitabh Jacob joins Google Cloud in lead role
In a bid to drive strong Cloud momentum in India, Google Cloud on Tuesday announced the appointment of Amitabh Jacob as Head of Partnerships and Alliances for the country.
MakeMyTrip gets Rs 73.9-cr tax refund
Online travel firm MakeMyTrip has received a tax refund of Rs 73.9 crore, an amount it had deposited with DCGEI under protest pursuant to a probe into service tax matters, according to a regulatory filing. In the filing to the United States Security Exchange Commission, the NASDAQ-listed company said that after the Supreme Court upheld the decision of the Delhi high court directing the Directorate General of Central Excise Intelligence (DCGEI) to refund the tax amounts due to the company, DCGEI has refunded the amount to MMT India and ibibo India. "During the year ended March 31, 2016, MakeMyTrip (India) Pvt Ltd and ibibo Group Pvt Ltd had deposited a total amount of Rs 73.9 crore as tax under protest pursuant to an ongoing investigation by the DGCEI that began during that fiscal year for matters related to service tax on hotel bookings facilitated by MMT India and ibibo India during certain previous periods," the filing said. The high court thereafter directed the DGCEI to refund ...
Sensex ends 240 pts lower on rising India-Pak tension
The benchmark BSE Sensex Tuesday ended 240 points lower as investor sentiment weakened after the India carried out air strikes on a terrorist camp in Pakistan. Weak cues from global equities and selling pressure on financials and realty stocks too weighed on market mood here. After cracking nearly 500 points, the 30-share Sensex pared some losses but ended 239.67 points, or 0.66 per cent, lower at 35,973.71. It hit a low of 35,714.16 and a high of 36,172.52. The gauge surged 342 points in Monday's trade. The 50-share Nifty also fell 44.80 points, or 0.41 per cent, to 10,835.30 after hovering between 10,729.30 and 10,888.75. Losses were more pronounced in banking, realty and PSU counters. "Indian indices traded lower mainly due to two factors first, the indications of weakness from all major Asian markets since their opening; and second, the strike carried out by the Indian Air Force against terrorist camps located inside Pakistan," said Joseph Thomas, Head Research, Emkay Wealth ...
RBI proposes variable pay for bank CEOs
The Reserve Bank of India (RBI) has proposed a new set of rules, which include a large portion of compensation for bank chiefs in the form of variable pay.They could also be liable for penalties if there is a divergence between bad loan assessment of the bank and the regulator."Banks are required to put in place appropriate modalities to incorporate malus/clawback mechanism in respect of variable pay, taking into account relevant statutory and regulatory stipulations as applicable," said the RBI in a discussion paper released late on Monday.In particular, the RBI wants banks to put such penalties in place when a divergence in asset classification is detected."Wherever the assessed divergence in bank's asset classification or provisioning from the RBI norms exceeds the prescribed threshold for public disclosure, the bank shall not pay the unvested portion of the variable compensation for the assessment year under 'malus' clause. Further, in such situations, no proposal for increase in .
Adani Transmission Ltd leads losers in 'A' group
Centrum Capital Ltd, Dewan Housing Finance Corporation Ltd, Kwality Ltd and IIFL Holdings Ltd are among the other losers in the BSE's 'A' group today, 26 February 2019.
PSA Groupe to re-enter India with Citroen brand; rollout of 1st model before 2021
European auto major PSA Groupe Tuesday said it will launch Citroen brand in India, with the first model expected to be rolled out before the end of 2021. PSA Groupe Chairman of the Managing Board Carlos Tavares, during the presentation of 2018-19 financial results, confirmed the group's intention to launch Citroen brand in India. "Citroen will be back to India no later than 2021. We have selected Citroen as a brand that we are going to use to come back to India. We have already invested, we have already created a manufacturing footprint in India. "We have a powertrain plant in India, we have a vehicle plant in India, we have a partner and we are now building a network to support the launch of this new brand in the country," Tavares said. The brand will soon announce a family of disruptive international products which would also be used in the Indian market, he added. In 2017, PSA Groupe had announced a partnership with CK Birla Group to re-enter the Indian market and earmarked an ...
Intellect Design Arena spurts after winning multi-million deal
Intellect Design Arena rose 5.46% to Rs 179.70 at 14:44 IST on BSE after the company announced winning a large multi-million deal from Emirates NBD, a leading bank in the Middle East.
Landmark Property Development Company Ltd leads losers in 'B' group
Times Guaranty Ltd, Ansal Housing Ltd, Themis Medicare Ltd and Bartronics India Ltd are among the other losers in the BSE's 'B' group today, 26 February 2019.
Volumes soar at India Tourism Development Corporation Ltd counter
India Tourism Development Corporation Ltd clocked volume of 9.64 lakh shares by 14:14 IST on NSE, a 113.27 times surge over two-week average daily volume of 8512 shares
Simplilearn Wins 2019 Stevie Award for Customer Service Success
/ -- For the second year in a row, Simplilearn has won a Stevie Award for Customer Service Success - All Other Industries, this year taking home the Silver. The Stevie Award for Sales and Customer Service is one of the world's most coveted prizes for businesses to recognize their commitment to customers. For this event, more than 2,500 nominations from organizations and industries of all sizes were evaluated. More than 150 professionals around the world participated in the judging process for the 2019 nominations. (Logo: http://mma.prnewswire.com/media/535442/Simplilearn_Logo.jpg ) (Photo: https://mma.prnewswire.com/media/826920/Simplilearn_2019_Stevie_Award.jpg ) Simplilearn always strives to provide comprehensive customer service to its learners, and this award is a testament to its commitment to that goal. Simplilearn has helped more than 1,000,000 professionals across 150 countries to upskill, get trained and be prepared for the digital future. Keeping customers satisfied has ...
Hong Kong Market falls as investors await trade talk outcome
Market paring its yesterday advance as U.S. President Donald Trump said on Monday he was optimistic that a final trade deal could be reached with China and that he would hold a summit to sign any pact, but cautioned that an agreement may still not happen.