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Indian Govt To Consider Ban On Cryptocurrencies: Report

Fri, 26 Apr 2019 18:14:37 +0530

The Indian government has been consulting various departments to draft a bill to ban cryptocurrencies and regulate official digital currencies, according to a news report. According to an Economic Times report citing sources, a draft bill titled "Banning of Cryptocurrencies and

India Will Uplift Around 25 Million Households Out Of Poverty By 2030: WEF

Fri, 26 Apr 2019 17:52:44 +0530

India is going to largely tackle its biggest factor holding its economy back-poverty- by 2030. In a report released earlier this year, the World Economic Forum said that the country will uplift around 25 million households out of poverty and reduce

Non-Deposit Taking NBFCs Now Covered Under Ombudsman Scheme

Fri, 26 Apr 2019 17:05:27 +0530

In a bid to provide faster grievance redressal against shortfall in services relating to loans and other issues, RBI today included non-deposit taking NBFCs with asset size of Rs. 100 crore or more within the ombudsman scheme. Earlier the ombudsman

Nirav Modi's Bail Denied By London Court

Fri, 26 Apr 2019 15:53:07 +0530

A London Court on Friday rejected the bail plea of fugitive diamond merchant Nirav Modi. The Indian businessman has been facing extradition proceedings in the United Kingdom in connection to the over Rs 13,000 crore PNB (Punjab National Bank) fraud and

Petrol And Diesel To Get Expensive As OMCs Seen To Recover Losses: Fitch

Fri, 26 Apr 2019 15:27:26 +0530

Even as global crude oil prices are on the rally this week, oil marketing companies in India revised the price of fuel higher only on Thursday after a respite for four continuous days. This is owing to the pressure from the

Finance Ministry Introduces Changes In E-Way Bill System

Fri, 26 Apr 2019 14:05:19 +0530

To check GST evasion, the finance ministry has rolled out changes in the e-way bill system deemed as an anti-evasion measure. During the April-December period last year, as many as 3,626 cases of GST violation or evasion have been detected that

Maruti Suzuki To Phase Out Diesel Cars From April Next Year: This Is Why

Fri, 26 Apr 2019 12:34:58 +0530

India's leading passenger car manufacturer Maruti Suzuki has announced discontinuation of all diesel cars from its line-up from April next year. The company will cease the production of diesel cars owing to the high cost involved in the production of BS6

Biocon's Q4 Net Profit Spikes 64%; Board Approves 1:1 Bonus Shares

Fri, 26 Apr 2019 11:23:05 +0530

On Thursday, Biocon reported a 64 percent increase in its consolidated net profit to Rs 213.7 crore for the fourth quarter ended March 2019. The Biotechnology major had posted a net profit of Rs 130.4 crore for the corresponding period of

RBI Allows Foreign Investors To Invest In Municipal Bonds

Fri, 26 Apr 2019 10:58:30 +0530

On Thursday, the RBI in a bid to provide greater access to Indian debt securities to non-resident investors has further eased norms and allowed foreign portfolio investors (FPIs) to invest in municipal bonds within prescribed limits. The investment cap

Tata Steel Reports Q4 Net Profit Of Rs 2,431 Crore

Fri, 26 Apr 2019 10:55:03 +0530

The country's largest and oldest private sector steel producer reported a consolidated net profit of Rs 2,430.92 crore for the quarter ended March 2019. Revenue for the quarter under review was at Rs 41,186 crore. The fourth quarter's net profit

Rupee Opens Higher At 70.09/ US Dollar

Fri, 26 Apr 2019 09:46:03 +0530

The Indian rupee opened higher at 70.09 per US dollar with gain of 16 paise in Friday's trade versus previous closing of 70.25. In the earlier session, rupee was dragged to 70.25 against the US currency at closing time

Neogen Chemicals IPO Subscribed 139% So Far On Day 2

Thu, 25 Apr 2019 18:05:56 +0530

The initial public offer (IPO) of Neogen Chemicals has been subscribed by 1.39 times so far on the second day of bidding. The Rs 132-crore IPO opened on 24 April and will close on Friday. It received bids for 60,21,405 shares

Axis Bank Posts Rs 1,505 Crore Q4 Profit; Announces Dividend

Thu, 25 Apr 2019 17:34:31 +0530

On Thursday, Axis Bank has reported a net profit of Rs 1,505.06 crore for the quarter ended 31 March 2019. The lender reported a loss of Rs 2,188.74 crore in the fourth quarter of the previous year. On a year-on-year basis,

PNB To Discontinue Its Wallet Service From May

Thu, 25 Apr 2019 16:39:04 +0530

Punjab National Bank (PNB) in a recent announcement said that it will end one of its service named as PNB Kitty from this month. In an alert issued in this respect, the country's leading bank said, "Dear PNB Kitty User, Bank

RIL Share Price Records New All-Time High

Thu, 25 Apr 2019 15:58:10 +0530

Shares of Reliance Industries Limited (RIL) jumped nearly 1.7 percent in early afternoon trade to hit a new all-time high of Rs 1,412.40 apiece on NSE. The stock, however, slumped during the end of the trading session on Thursday to close

Maruti Suzuki Q4 Net Profit Declines 5% YoY To Rs. 1,795 Crore; Dividend Of Rs 80 Announced

Thu, 25 Apr 2019 15:20:20 +0530

Maruti Suzuki India reported a 5% YoY decline in net profit for the quarter ended March 2019. Net profit for the period under review came in at Rs 1,795.6 crore as against Rs. 1,882.1 crore in the same period a year

Brent Crude Hits $75/Barrel Amid Tightened Sanctions On Iran

Thu, 25 Apr 2019 14:10:52 +0530

On Thursday, brent crude oil, global oil benchmark, surged past $75 per barrel in price for the first time in 2019 owing to tightening sanctions on Iran. Brent crude futures spiked to $75.01 per barrel on Thursday and were recorded at

Vodafone Idea Rs. 25,000 Crore Rights Issue Oversubscribed

Thu, 25 Apr 2019 13:07:52 +0530

The rights issue of Vodafone Idea worth Rs. 25,000 crore has been oversubscribed confirms the company on Thursday after some of the media reports stated that the issue was undersubscribed. In an exchange filing the company said, "The company

IndiGo And Spicejet Now Among The Most Expensive Airline Stocks In the World

Thu, 25 Apr 2019 12:38:17 +0530

Amid the grounding of airline services by Jet Airways, stocks of InterGlobe Aviation (IndiGo's parent company) and SpiceJet soared to become the most expensive airline stocks globally. In fact, the InterGlobe entered the group of top 10 airlines in the world

Titan Hits Record High; Market Cap Increases To Over Rs 1 lakh crore

Thu, 25 Apr 2019 10:54:50 +0530

Titan Company in the morning trade hit a record high of Rs. 1,160, with a gain of 1%, taking the market cap of the stock to over Rs. 1 lakh crore. With today's gain in the stock price, the market

Finance Ministry May Raise Cap On 59-Minute Loans

Thu, 25 Apr 2019 11:23:33 +0530

The ministry of finance is likely to consider raising the cap on the 59-minute loan scheme to Rs 3-5 crore from the present Rs 1 crore. According to an IANS report citing government sources, this cap will be raised in a

Rupee Opens Weak At 70

Thu, 25 Apr 2019 09:25:14 +0530

Rupee in Thursday's trade opened at 70 per US dollar against previous day's close of 69.87. The continuous surge in crude oil prices in the global market is likely to put a pressure on the Indian currency in the near term.

India Registers As Fastest Growing Auto Market In Terms of Output

Wed, 24 Apr 2019 17:20:03 +0530

India registered fastest growth in the auto market with production growth of 8% at a time when the automobile production in the global level has declined for the first time in a decade by close to 1.1% to touch 95.6 million

Gold Prices in India Slips Following Global Trends

Wed, 24 Apr 2019 15:38:13 +0530

The gold prices in India slipped following cues from the global market wherein the yellow metal plunged towards 4 months low amidst strong dollar followed by rallying equities. The gold rates in India were recorded at Rs 30,950 for 10 grams

Cashbacks, Discount Offers To End On TV, Refrigerators And Washing Machine

Thu, 25 Apr 2019 14:18:56 +0530

As the summer season progresses in several Indian states, the demand for refrigerators and ACs is expected to get a boost. And as per a report, once the demand for these products stabilizes, white goods manufacturers will pull back the existing

Petrol, Diesel Prices Left Unchanged As Crude Oil Price Softens Overseas

Wed, 24 Apr 2019 14:40:49 +0530

On Wednesday, both petrol and diesel remained steady in price for the third-straight day. Price of both the auto fuels in the domestic market is determined on the basis of international crude oil prices and the rupee-dollar foreign exchange rate. Oil

SEBI Blocks Hotel Leelaventure From Selling Hotels And Properties To Brookfield Asset Management

Wed, 24 Apr 2019 14:02:45 +0530

The regulating body Securities Exchange Board of India (SEBI) has barred the cash-crunched Hotel Leelaventure from selling its four hotels and a property to Canadian investment fund Brookfield Asset Management. Earlier, on March 18, the Hotel Leelaventure Ltd (HLVL)

U.S. Working Towards Steady Supply of Crude To India

Wed, 24 Apr 2019 13:30:16 +0530

Washington has clarified its decision for not extending waivers to export crude from Iran was not meant to hurt India and the U.S. is working towards stabilizing global energy markets and in maintaining a regular supply of oil to its friends

How To Make A Fortune Out Of Your Monthly Household Allowance

Wed, 24 Apr 2019 13:36:47 +0530

1. Prepare a budget  Creating a budget will help you form the habit of saving. It will allow you to analyze your expenses and help you understand where you can cut back. If writing gets tedious there are a variety of

RBI To Infuse Liquidity Via Bond Purchase On May 2

Wed, 24 Apr 2019 10:52:00 +0530

The Reserve Bank of India (RBI) on Monday announced liquidity infusion of as much as Rs. 25,000 crore via purchase of G-securities in May. The purchase of government securities referred as open market operations (OMOs will be conducted in two equal