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Govt Approves BSNL-MTNL Merger; Offers Attractive VRS Package To Employees

Wed, 23 Oct 2019 17:11:49 +0530

On Wednesday, the Union Cabinet approved a revival package of Rs 29,937 crore for the state-owned telecom companies BSNL (Bharat Sanchar Nigam Limited) and MTNL (Mahanagar Telecom Nigam Limited) and allowed an in-principle merger of the two. BSNL will

Indian Bank Q2 Profit More Than Doubles

Wed, 23 Oct 2019 16:25:55 +0530

On Wednesday, Indian Bank reported a 139 percent increase in its net profit to Rs 358.56 crore for the second quarter of 2019-20 from Rs 150.14 crore a year ago. The bank also showed an improvement in its asset

Amazon Ties Up With Indian Railways For Inter-City Package Deliveries

Wed, 23 Oct 2019 15:42:52 +0530

On Wednesday, Amazon India announced that it has tied up with the Indian Railways in a pilot programme to make inter-city delivery of e-commerce packages. In a press release, the company said that it would be transporting customer packages via railway

RBL Bank Hits 52-Week Low As Brokerages Turn Bearish After Poor Q2 Results

Wed, 23 Oct 2019 14:02:07 +0530

The shares of RBL Bank in intra-day trade on Wednesday fell as much as 20% to hit a 52-week low of Rs. 230.55. The fall in the stock price has come after brokerage firms turned cautious on the stock due to

ICICI Bank Revises Fixed Deposit (FD) Interest Rates

Wed, 23 Oct 2019 11:00:23 +0530

With effect from Wednesday, ICICI Bank has revised its interest rates on domestic, NRO (Non-Resident Ordinary) and NRE (Non-Resident External) fixed deposits. The private-sector lender provides deposit facilities to resident and non-residents for tenures ranging from 7 days to 10 years.

Hajj Pilgrimage Now Expensive After Saudi Arabia Raises Visa Fee

Wed, 23 Oct 2019 10:16:25 +0530

According to media reports, Saudi Arabia has made a six-fold increase in visa fee, a decision that will affect the expenses of those intending to take the annual Hajj pilgrimage. A report said that single entry visa will now cost $533,

Should You Buy Or Sell The Infosys Stock After Whistleblower Allegations?

Wed, 23 Oct 2019 10:22:35 +0530

Just when investors seem to have forgotten issues pertaining to Vishal Sikka's exit, questions are now being raised over corporate governance standards at Infosys. One Board member received two anonymous complaints on September 30, 2019 one dated September 20, 2019 titled

Kotak Mahindra Bank’s Q2 Net Profit Rises 51%; Asset Quality Declines

Tue, 22 Oct 2019 15:24:26 +0530

On Tuesday, Kotak Mahindra Bank reported a 51 percent surge in its net profit to Rs 1,724 crore for the second quarter of 2019-20 from Rs 1,142 in the corresponding period of the previous year. Its net interest income

Bajaj Finance Shares Hit New High After Reporting 63% Surge In Q2 Profit

Tue, 22 Oct 2019 14:46:20 +0530

On Tuesday, Bajaj Finance reported a 63 percent increase in net profit for the September-ended quarter at Rs 1,506.3 crore from Rs 923 crore in the same period a year ago. Shares of the non-banking finance company rose by 2 percent,

IRCTC Shares Continue Rising To New Highs A Week After Listing; Surges 11%

Tue, 22 Oct 2019 13:23:07 +0530

The demand for IRCTC shares does not seem to have dampened even after a week of listing. Continued interest from buyers has pushed the stock higher by over 11 percent on Tuesday to Rs 866.75, its new record high.

Yes Bank Surges 10% On Fund Raising Speculation

Tue, 22 Oct 2019 12:48:29 +0530

Yes Bank shares continue their upward journey with the stock climbing again by 10% to hit an intra-day high of Rs. 56.50 per share on the BSE. There have been speculations doing the rounds that the private sector lender is close

Gold Prices Fall As Risk Appetite Increases On Progress In US-China Talks

Tue, 22 Oct 2019 12:47:12 +0530

On the MCX, gold December futures contract declined by a tad Rs. 20 or 0.05% to Rs. 37,870 per 10 gm at around 10:45 am as the long bruising US-China trade dispute now sees some progress. From, the record highs made

Petrol, Diesel Prices Revised After 6 Days Of Stagnancy

Tue, 22 Oct 2019 12:23:32 +0530

On Tuesday, fuel prices were lowered by 5 to 6 paise after six consecutive days of no change. The state-run fuel retailers had reportedly paused the revision on fuel prices, despite a fall in global crude oil prices, due to assembly

Reliance Industries, HDFC Bank, React Positively To Q2 Results

Tue, 22 Oct 2019 10:55:27 +0530

Shares of Reliance Industries Limited (RIL) and HDFC Bank gained on Tuesday, the trading day following the announcement of their results for the second quarter of 2019-20. RIL Last Friday, RIL reported its highest-ever quarterly net profit at Rs

Infosys Takes Steps To Address WhistleBlower Complaint As Stock Crashes

Tue, 22 Oct 2019 10:22:25 +0530

Infosys today elaborated on the details of the whistleblower complaint and measures being taken in view of the same, in a notice to the exchanges. "One Board member received two anonymous complaints on September 30, 2019 one dated September 20, 2019

Chairman Nilekani Issues Statement On Infosys' Whistleblower Complaints

Tue, 22 Oct 2019 10:15:06 +0530

On Tuesday, Infosys Limited issued a statement on behalf of Chairman Nandan Nilekani to the stock exchanges. It said that the two anonymous complaints as disclosed by the company on the previous day titled "Disturbing unethical practices" and "Whistleblower Complaint" had

Infosys Shares Crash 13% On Whistleblower Complaint

Tue, 22 Oct 2019 09:53:22 +0530

Shares in Infosys crashed 13 per cent, after an anonymous group calling itself "ethical employees" has complained to the board of Infosys and the US Securities and Exchange Commission (SEC) alleging that the company is taking 'unethical' steps to boost short-term

Sovereign Gold Bond Series VI Opens; Good Alternative To Physical Gold On Dhanteras

Mon, 21 Oct 2019 16:42:03 +0530

On Monday, the Government of India rolled out the sixth tranche of sovereign gold bonds. The Sovereign Gold Bond (SGB) Scheme 2019-20-Series VI will close for subscription on Dhanteras, that is, 25 October. The Finance Ministry in its statement said that

Reliance Jio Marginally Cuts Prices Of Some Tariff Packs And Adjusts IUC

Mon, 21 Oct 2019 15:01:36 +0530

On Monday, Reliance Jio announced some new medium-priced tariff plans which are priced marginally lower than its existing packs and adjusted for interconnection usage charges (IUC). Customers can now choose from plans of Rs 222 for 1 month, Rs 333 for

EPFO Subscribers May Have A Facility To Draw Pension After 60 Years

Mon, 21 Oct 2019 14:18:47 +0530

Under the EPFO scheme, the proposal has been made to increase the superannuation age on attainment of which subscriber is allowed to draw pension from 58 currently to 60. The move if implemented will enable subscribers to grow their retirement funds

Diwali, Dhanteras Unlikely To Lift Gold Sales For Jewellers

Mon, 21 Oct 2019 14:05:03 +0530

In the second half of August, gold prices started picking up amid US-China trade tensions and have remained above the Rs 36,000/10 grams level since. Sales of jewellers have been hurt as buyers postpone their purchases due to high prices. In

5 Stocks That Traders Love For Their Volatility

Mon, 21 Oct 2019 11:00:00 +0530

If you are a trader, you need to look at stocks, which are volatile, which would help you to make trading profits intra-day. Apart from sharp movement either way, the other thing is high liquidity that investors and traders need. Here

HDFC Localises Its Website In 6 Indian Languages

Mon, 21 Oct 2019 10:16:45 +0530

On Sunday, Housing Development Finance Corporation (HDFC) said that it has localised its website in six Indian languages to help homebuyers gain access to home loan related information more effectively. In addition to English, the most used language in a digital

5 Stocks That Rose The Most This Week

Sat, 19 Oct 2019 18:42:39 +0530

On the back of positive global and domestic development such as the partial US-China trade truce and the development of the Brexit front has maintained upward momentum for the Indian stock markets. For the week ended October 18, 2019, Nifty registered

HDFC Bank Sees 27% Jump In Q2 Net Profit

Sat, 19 Oct 2019 17:35:13 +0530

On Saturday, HDFC Bank reported a 26.8 percent increase in standalone net profit at Rs 6,345 crore for the September-ended quarter when compared to the same period of the previous year. In September 2018, its profit stood at Rs 5,005.73 crore.

IMF Says Corporate Tax Cut Will Have Positive Impact On Investment In India

Sat, 19 Oct 2019 14:22:51 +0530

On Friday, the International Monetary Fund (IMF) supported the Indian government's decision to cut corporate tax but said that the country needs to address fiscal consolidation and secure long-term stability of the fiscal conditions. "We believe India still has limited fiscal

Stock Markets Shut On Oct 21 on account of Assembly Elections in Maharashtra

Mon, 21 Oct 2019 12:07:43 +0530

As assembly elections are slated to be held on Monday, equity, debt, commodity and currency markets will be shut on October 21, 2019. In separate circulars, NSE and BSE have announced trading holiday for capital markets, currency derivatives and F&O segment.

Key Takeaways For Reliance Industries' Q2 Results

Sat, 19 Oct 2019 10:48:15 +0530

On Friday, post market hours, Reliance Industries Limited (RIL) reported its highest-ever quarterly net profit at Rs 11,262 crore for the July-September 2019 period. The Mukesh Ambani-led oil-to-telecom conglomerate's net profit for the second quarter of the financial year 2019-20 was

Large Businesses To Not Charge For Digital Payments From Nov 1

Sat, 19 Oct 2019 10:25:42 +0530

To give a fillip to digital India initiative and hence boost digital payments, big businesses with a turnover of over Rs. 50 crore will have to mandatorily offer digital mode of payment from November 1, said the finance ministry yesterday. {image-02-1427954665-fixeddeposit3-1571460917.jpg

Markets Next Week: Further Upward Momentum Likely

Sun, 20 Oct 2019 11:20:43 +0530

What seemed a little different this week, is the fact that there was some buying seen from Foreign Portfolio Investors for a few days in succession. This led to a steady rally in stocks for at least five successive days in