Business Companies Industries Market

Exports rise but trade deficit widens to $17 billion cause alarm

Exports bounced back in October after a contraction in September, as engineering goods, pharmaceutical and chemical shipments picked up pace.  However, this didn’t prevent trade deficit from widening, as crude oil bill continued to shoot up. Outbound trade rose by 17.86 per cent in October to $26.98 billion. In September, exports had declined for the Read More…

Companies Market

Royal Enfield’s 650cc goes International

Royal Enfield, the global leader in the mid-size motorcycle segment, on Wednesday launched the much awaited 650cc twin bikes called the Interceptor and Continental GT 650 for the international market in California. The company said both motorcycles would be launched in India later this year. Both bikes are available in three variants such as Standard, Read More…

America Asia China Market World

India, China and six others temporary exempted from Iran oil sanctions

The US has told various countries, including India, to cut oil imports from the Persian Gulf nation to “zero” by November 4 or face sanctions. India, which is the second biggest purchaser of Iranian oil after China, is willing to restrict its monthly purchase to 1.25 million tonnes or 15 million tonnes in a year Read More…

Business Market

Gems and jewellery market in India to reach 100 billion $ by 2025 says Gold traders

The jewellery industry witnessed increased footfalls on Monday, which is celebrated as Dhanteras, considered to be an auspicious day to purchase gold.  In the fourth quarter last year, during which Deepavali was celebrated, the demand for gold was 249.3 tonnes, valued at Rs 66,220 crore. This year, the industry expects around 10% growth over last Read More…

Business Market National

Governments that do not respect central bank independence will sooner or later incur the wrath of financial markets says Viral RBI Dy.Gov

The Reserve Bank of India needs to be independent to improve the macroeconomic stability, and policies need to be rule-based, the deputy governor Viral Acharya said on Friday. “To secure greater financial and macroeconomic stability, these efforts need to be extended to effective independence for the Reserve Bank in its regulatory and supervisory powers over Read More…

Business Market

Economy turmoils – FPIs pull out over 32000 Crores from markets in 3 weeks

According to the latest depository data, foreign portfolio investors (FPIs) sold equities to the tune of Rs 19,810 crore during October 1-19 and bonds worth Rs 12,167 crore, taking the total to Rs 31,977 crore (USD 4.3 billion).  Foreign investors have pulled out close to Rs 32,000 crore from the Indian capital markets in the Read More…

Business Companies Industries Market

Super bumper Diwali harvest for E malls Portals

Diwali has come early for e-tailers like Amazon and Flipkart whose Great Indian Festival and Big Billion Days Sales got over recently. With the 5-day long sale fst, both Amazon and Flipkart have amassed a whopping Rs 15,000 crore.  RedSeer Consulting in its report said e-tailers had a better “sales performance over the five festive Read More…

Companies Industries Market

Investor wealth eroded by Rs 2.69 trillion ; 370 scrips hit their 52-week lows on BSE

Investor wealth eroded by Rs 2.69 trillion Thursday hit hard by massive sell-off in the equity market where the BSE benchmark index plummeted over 1,000 points in intra-day trade. Following the weak show by equities, the market capitalisation (m-cap) of BSE-listed companies witnessed an erosion of Rs 2.69 trillion to Rs 1.5 trillion. “Indian stock Read More…

Companies Market

Mahindra to offer vehicles on lease

Homegrown automaker Mahindra & Mahindra Wednesday launched a new vehicle acquisition scheme that allows customers to lease vehicles for a period of up to five years. The lease option scheme will be available on Mahindra’s personal portfolio of vehicles such as the entry level sports utility vehicle (SUV) KUV100, compact sports utility vehicle TUV300, mid-sized Read More…

Industries Market National

Rupee hit 74.39 amid Concern over fiscal deficit and rising current account deficit.

The unabated outflow of foreign funds continues to pinch Indian rupee, as domestic currency slumped by 33 paise to finish at a fresh lifetime low of 74.39 against the US dollar  on Tuesday. This is the six consecutive fall for the rupee against US dollar Earlier in the day, the domestic currency erased all its Read More…

Business Industries Market National Technology

WhatsApp adheres RBI Circular for Payment data localisation policy.

Mobile messaging platform WhatsApp Tuesday said it has built a system that stores payments-related data in India, in line with RBI’s data localisation policy.  The Reserve Bank of India (RBI), in a circular in April, had said all system providers will have to ensure that the entire data relating to payment systems operated by them Read More…

America Asia China Europe Market Russia World

Putin – Modi Summit Signed eight Pacts

Prime Minister Narendra Modi and Russian president Vladimir Putin met on Friday for the 19th India-Russia annual bilateral summit and the two sides signed eight pacts after talks between the leaders. Modi said that talks with Putin have given a new direction to the bilateral strategic partnership and Russia has always been a part of India’s growth Read More…

Market National

Fuel cry : Center reacted with 2.50 paise cut but opposition calls it as cheating on Indian people

Bowing to public anger finally   Centre winked on Thursday and announced a cut of Rs 2.50 per litre on diesel and petrol across the country. Finance Minister Arun Jaitley announced that the Centre and oil companies will take a hit of Rs 1.50 per litre and Re 1 per litre respectively in their revenue. Read More…

Market National Opinion Politics

At 73.77 government is clueless , Rahul Gandhi says it is not breaking but broken

As the Rupee hit a record low of Rs 73.77 against the US dollar, Congress President Rahul Gandhi Thursday said the Indian currency is not breaking, but is “broken”. The rupee collapsed to a fresh low of 73.77 against the US dollar Thursday, deepening concerns about the current account deficit and capital outflows. “Breaking: Rupee Read More…

Asia Business Companies Europe Market

BJP government awards 84.6% contracts to Vedanta, and 16.4 % to Government giants ONGC, IOC

Indian Government   has set a target of cutting oil import bill by 10 per cent to 67 per cent by 2022 and to half by 2030.  But Import dependence has increased since 2015 after set of  target. India currently imports 81 per cent of its oil needs.  BJP Government under Prime Minister  Modi  had Read More…

Companies Market National Opinion Supreme Court

Jio growth to get slower after SC bars aadhaar link to SIM

The apex court order disallowing telcos from using the faster Aadhaar-based verification system could slow the pace of subscriber additions significantly, potentially delaying the company’s plan to acquire a 50% revenue market share, analysts said.  Jio added 11.78 million customers in July, outpacing Airtel’s 313,000, Vodafone India’s 609,000 and Idea Cellular’s paltry 5,489, according to Read More…

Business Market National

Axe in drawing cash limit for Classic and Maestro Cards in SBI ATM on cards

Days before  Diwali festival that falls on November 6th SBI plans to reduce ATM daily withdrawal limit to Rs 20,000 and this restriction comes into effect from October 31 onwards  “In view of the increase in the number of complaints received by banks around fraudulent transactions at ATMs and to encourage digital and cashless transactions, Read More…

Business Companies Market

PayTM founder share diluted again

Paytm’s parent firm had raised $30 million from SAIF Partners, Intel Capital, Silicon Valley Bank and SAP Ventures among others since 2007. In 2010, the company had filed for an initial public offering but shelved the plan after receiving regulatory clearance Alibaba and its payment unit Alipay together would have close to 40 per cent equity Read More…

Asia Market Technology

WhatsApp appoints grievance redressal mechanism for india

India is WhatsApp’s biggest market with more than 200 million users. It, in July, limited message forwards to five chats at a time and had also removed the quick forward button placed next to media messages to discourage mass forwarding. It has also introduced a ‘forward’ label to help users identify such messages. The Indian Read More…

Business Companies Market

RBI “No” to Yes bank Founder CEO term plunged its stock 31.67%

Stock exchanges were closed Thursday on account of a public holiday.  The Reserve Bank on Wednesday curtailed the term of Yes Bank’s founding CEO Rana Kapoor and asked the private sector lender to look for his replacement by January 2019. Kapoor, who has been managing director and CEO since the bank’s inception in 2004, had Read More…

Business High Court Market Voice

Indian Rupee at its nadir 72.99 ., Investors lost 272000 Crores in 2 days

Stock investors lost heavily and became poorer by Rs 2.72 trillion in two days of market fall which saw the BSE benchmark index diving almost 800 points. Market benchmark BSE Sensex Tuesday tumbled by about 295 points or 0.78 per cent to close at 37,290.67 due to increasing crude oil prices and mounting trade tension. Read More…

America Asia Market

China and America does a tom and jerry game in trading

China announced it will take retaliatory tariff action against $60 billion of US goods, in a reaction sharply escalating trade war as the Trump administration considers imposing duties on virtually all Chinese imports. China’s retaliatory tariffs, ranging from 5 per cent to 10 per cent on more than 5,000 items, will take effect on Sept. Read More…

Business Market

Car sales down 2 wheeler , Commercial vehicles up : SIAM

India  Domestic passenger vehicle sales dropped 2.46 per cent to 2,87,186 units in August as against 2,49,416 units in the same month last year, automobile industry body SIAM reported on  Tuesday. Car sales declined 1.03 per cent to 1,96,847 units last month as against 1,98,892 units in August last year, according to data released by Read More…

Market National Politics Social

11 lakh Cr fuel loot root cause of 10th sept national shutdown : Congress

The Congress will organise a nationwide shutdown on September 10 over rising fuel prices, parties leaders announced Thursday and asked other opposition parties and civil society groups to join their protest against the government. The common man was bearing the brunt of the escalating prices of petrol, diesel and cooking gas, Congress communications in-charge Randeep Read More…

Business Market

Rupees against Dollars in 6 days 165 paise down

The Indian rupee’s unabated fall continued for the sixth straight session on Wednesday, hitting yet another closing low of 71.75, down 17 paise against the US currency as surging oil prices and weak trend in emerging market currencies weighed on sentiments. The battered rupee has lost 165 paise in the last six trading sessions. However, Read More…

Business Market Technology

Wipro bagged 1.5billion$ IT Contract from USA Alight Solutions

Wipro, India’s third largest IT services company, on Sunday announced that it has won a $1.5 billion deal from US-based Alight Solutions. The deal, spanning 10-years, is the largest one ever taken up by the company in its history. It will mandate Wipro to provide a comprehensive suite of solutions and services to Lincolnshire, Illinois-based Read More…

Industries Life Style Market Technology

80 Electric buses to bengaluru from October 2018 : Olectra Greentech

Olectra Greetech (formerly Goldstone Infratech Ltd) manufactures electric buses in technical collaboration with Chinese electric vehicle giant BYD Auto Industry Co Ltd. It has set up a plant in Hyderabad to assemble electric buses. Olectra Greentech Ltd said on Wednesday that it is ready to supply electric buses to BMTC. The company is waiting for Read More…