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Gold Prices Fell From 14-Month High As Dollar Strengthens

Mon, 17 Jun 2019 12:12:16 +0530

The precious yellow metal after hitting a 14-month high at $1358.04 on Friday, levels last seen on April 11, 2018, retreated and stabilized in price as dollar strengthened on the back of robust US retail sales data. Also, investors have been

ADAG Stocks Continue To Sink

Mon, 17 Jun 2019 11:59:02 +0530

Stocks from the Anil Dhirubhai Ambani Group continued to sink in trade with little or no respite for these stocks. Reliance Infrastructure fell a huge 7 per cent dropping to a new 52-week low of Rs 55, while Reliance Capital plunged

ADAG Shares Slump: RInfra Slips 10% On Posting Biggest Ever Quarterly Loss

Mon, 17 Jun 2019 12:17:44 +0530

Anil Dhirubhai Ambani Group (ADAG) stocks tanked on Monday, continuing their downward tumble for more than seven trading sessions. Reliance Infrastructure announced its earnings results for the January-March 2019, late on Friday. It reported a net loss of Rs 3,301 crore,

Shriram Transport Nosedives After Reports Of Piramal Selling Stake

Mon, 17 Jun 2019 12:16:09 +0530

NBFC company Shriram Transport Finance fell in intra-day session in Monday's trade by as much as after news report made the rounds that Piramal is likely to divest its stake in the company. As much as 10% equity shares changed hands

Facebook's Likely Introduction Of Crypto Pushes Bitcoin Price Above $9000

Mon, 17 Jun 2019 09:43:56 +0530

Even though in the Indian context, trading in cryptos is likely to be restricted due to the recent report which may send individuals engaging in cryptos to jail for a 10-year term, in the global world, cryptos are fast gaining ground.

Rupee Trades Lower At 69.86

Mon, 17 Jun 2019 09:10:15 +0530

Rupee in Monday's trade opens lower 69.86, down by 6 paise as against its previous close of 69.8 per US dollar. Meanwhile, stock indices in India are expected to open lower tracking global signals highlighting global trade spat and

90,000 Affordable Homes In Navi Mumbai To Be Made Available Under PMAY

Sat, 15 Jun 2019 15:58:25 +0530

The City and Industrial Development Corporation (CIDCO) of Maharashtra has planned to sell 90,000 houses in Navi Mumbai through its mega housing scheme which will form a part of Pradhan Mantri Awas Yojana (PMAY), the central government scheme that is aimed

Modi Cabinet Approves Aadhaar Amendment Bill 2019: This Is How Aadhaar Holders Will Benefit

Sat, 15 Jun 2019 15:32:02 +0530

Narendra Modi led cabinet recently gave an approval to replace the existing Aadhaar and Other Laws (Amendment) Ordinance, 2019 with "Aadhaar and Other Laws (Amendment) Bill, 2019". The bill will be put forth in the upcoming budget session that begins on

Govt To Introduce Single Smart Card To Travel In Any Metro In India

Sat, 15 Jun 2019 17:07:36 +0530

The government is looking to unveil a new smart card that could be used to travel across all Metro rail networks in the country for a limited number of trips, a Times of India report said. At present, smart cards issued

No Former PM Will Be Present In Parliament In The Upcoming Budget Session

Sat, 15 Jun 2019 14:02:06 +0530

The Parliament's first budget session after the formation of the new government at the Centre is scheduled to start on 17 June. The Union Budget for the financial budget will be presented by Finance Minister Nirmala Sitharaman on 5 July.

HDFC Bank Revises FD Rates After RBI’s Rate Cut Last Week

Sat, 15 Jun 2019 14:01:18 +0530

After the RBI in its second bi-monthly monetary policy committee meet on June 6 cut key repo rate for the third-straight time by 25 bps to 5.75%, the private sector lender has also revised its rates on fixed deposits. The new

China's Factory Growth In May Was The Slowest In 17 Years

Sat, 15 Jun 2019 14:00:38 +0530

Trade war with the US may be weighing on China's economy more than earlier anticipated. Data on industrial output for the month of May showed that its growth had slowed down to a 17-year low. Hours after the weak data, China's

Now RBI To Impose Penalty On Banks If Their ATMs Run Out Of Cash

Sat, 15 Jun 2019 13:54:27 +0530

As per an exclusive report in one of the leading business dailies, in case the ATMs fail to dispense cash for more than 3 hours, the central bank of the country may levy a penalty on banks. And as per one

HDFC Sells 3.1 Crore Additional Shares In Gruh Finance

Sat, 15 Jun 2019 13:52:57 +0530

Housing Development Finance Corporation (HDFC) on Friday said that it has sold 3.1 crore shares or 4.22 percent stake in Gruh Finance for Rs 899.43 crore. Shares of Gruh Finance slumped 7.5 percent in intraday trade on Friday after the announcement.

Imports In May Increase By 7.76% YoY, Trade Deficit Widens

Sat, 15 Jun 2019 10:34:46 +0530

Exports of goods registered a 3.93% y-o-y growth in May to $29.99 billion as many of the major sectors including the likes of engineering goods, iron ore and leather products grew despite a slowdown in exports of gems & jewellery and

India To Levy Retaliatory Tariffs On 29 US Products

Sat, 15 Jun 2019 09:58:57 +0530

In what could mean aggravating trade spat between India and the US, India has took a decision to implement the long-pending retaliatory tariffs on 29 US products. Earlier, the levy of such tariffs was postponed until June 16 as the country

Bengaluru IMA Scam: Founder Of Halal Ponzi Scheme Has Fled India

Sat, 15 Jun 2019 09:54:13 +0530

Founder and owner of the I Monetary Advisory (IMA) Group and the main accused of cheating over 23,000 investors across Karnataka, fled the country on 8 June, the Times of India reported, citing police sources. The Bengaluru police has issued a lookout notice for him, it further said.

This Cryptocurrency Gains 4-Fold This Year And Its Not Bitcoin

Sat, 15 Jun 2019 09:37:22 +0530

You might not have as well heard about it but Litecoin has outpaced all its crypto-peers including the largest digital token bitcoin and others such as Ether, XRP etc. with gains of almost fourfold this year. This cryptocurrency has surged over

Gold Climbs Closer To Its 14-Month High Amid Global Trade Conflicts

Sat, 15 Jun 2019 09:36:42 +0530

Gold prices in the international market edged closer to its 14-month high as trade and political tensions, along with a possible rate cut by the US Federal Reserve, increased demand for the safe haven metal among traders. Spot gold rose by

India's Wholesale Inflation Falls To 2 Year Low Of 2.45% In May

Sat, 15 Jun 2019 09:34:51 +0530

Wholesale inflation measured by WPI index for the month of May dropped to an almost 2-year low, hitting levels of 2.45% in comparison to 3.07% in April. For the month of March, the Ministry of Commerce and Industry has revised WPI

Take-Home Pay To Increase As Govt Reduces ESI Contribution Rate

Fri, 14 Jun 2019 15:57:02 +0530

The government lowered the contribution under the Employees' State Insurance (ESI) from 6.5 percent to 4 percent on Thursday evening. The reduced ESI contribution is expected to increase the take-home salary of employees and decline the employer's financial burden. The

RITES Shares Gain 6% After Announcing Bonus Issue Plan

Fri, 14 Jun 2019 15:56:12 +0530

State-owned engineering consultancy company, RITES Limited, on Friday announced that its board will consider a bonus issue proposal in its 24 June meeting. "A meeting of board of directors of the Company is scheduled to be held on Monday, June 24,

Crude Oil Prices Rise After Two Oil Tankers Explode In The Gulf Of Oman

Fri, 14 Jun 2019 14:08:17 +0530

On Friday, international oil prices extended their gains after attacks on two oil tankers in the Gulf of Oman. The attack has raised concerns of reduced supply via one of the key shipping routes in the world and escalations in tensions

Jet Airways Falls For Second Day Even As NCLT Adjourns Insolvency Plea

Fri, 14 Jun 2019 11:06:42 +0530

Jet Airways shares tumbled for the second-straight day to hit a 52-week low of Rs. 78.15 on the NSE. The stock has been dragged lower by as much as 15% in intra-day trade on Friday even as the NCLT adjourned the

Rupee Trades Lower After Flat Opening

Fri, 14 Jun 2019 09:29:57 +0530

The Indian rupee in Friday's session opened unchanged at 69.51 per dollar versus previous close 69.51. On Thursday, rupee ended lower by 16 paise at 69.51 even though crude oil prices rose sharply. Crude oil prices and prospect of

Alibaba Files For Listing On Hong Kong Exchange

Sat, 15 Jun 2019 14:51:25 +0530

As per a source familiar with the development, Alibaba, the leading Chinese e-commerce giant has filed confidentially for Hong Kong listing. The listing will happen as soon as the third-quarter of the current year. Bloomberg was the first to report about

Tata Sponge Iron Board Approves Rights Issue Worth Rs 1,650 Crore

Thu, 13 Jun 2019 15:46:15 +0530

On Thursday, Tata Sponge Iron's board of directors approved the issue of 3.3 crore equity shares of the face value of Rs 10 each on a rights issue basis, with an amount not exceeding Rs 1,650 crore. The rights entitlement ratio

Yes Bank Shares Slump To 52-Week Low After UBS Cuts Price Target Sharply

Thu, 13 Jun 2019 13:04:06 +0530

Shares of Yes Bank slumped as much as 13 percent to hit its new 52-week low of Rs 117.40 on NSE after international brokerage UBS retained its 'sell' rating on the stock while lowering its price target sharply by 47 percent

Now Paytm Money To Also Act As POP For NPS

Thu, 13 Jun 2019 12:49:45 +0530

Paytm Money, a Paytm-owned online channel that facilitates investment in mutual funds, has received a go-ahead from pension regulatory body, the Pension Fund Regulatory and Development Authority (PFRDA) for offering National Pension System (NPS). Now, other than SBI, HDFC

Virat Kohli Is The Only Indian In Forbes List Of Highest Paid Athletes 2019

Thu, 13 Jun 2019 12:24:46 +0530

Forbes Magazine released its annual list of highest paid athletes this week. The list, that ranks 100 athletes across 10 sports and those from 25 countries, includes only one Indian sportsperson, Virat Kohli. The magazine said that salaries of athletes around