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Nifty Ends 182 Points Lower As Financials Plunge, The Sensex Drops Below 38,000 points

Mon, 03 Aug 2020 15:52:21 +0530

Benchmark indices closed the day sharply lower on the first trading day of the week, as banking and financial stocks saw sharp falls. The drop in the indices was despite strong markets across Asia and Europe. In fact, most Asian markets

Wockhardt Shares Jump 10% On COVID-19 Vaccine Partnership With UK Govt

Mon, 03 Aug 2020 15:30:24 +0530

On Monday, shares of Wockhardt Limited surged 10 percent to Rs 303.60 after the pharmaceutical and biotechnology company informed the exchanges that it has secured a partnership with the UK government to fill finish COVID-19 vaccine. "The manufacturing will be undertaken

Jan Dhan Yojana Bank Accounts Cross 40 Crore Mark

Mon, 03 Aug 2020 14:07:05 +0530

In almost six years of its launch by the Narendra Modi-led NDA government, more than 40 crore bank accounts have been opened under the government's flagship financial inclusion drive Pradhan Mantri Jan Dhan Yojana (PMJDY). Latest numbers released by the government

4 Reasons Why Markets Are Falling For Four Straight Days

Mon, 03 Aug 2020 13:42:46 +0530

It has been today (August 3, 2020) the fourth straight day of losses for the benchmark indices, with Nifty now below the 11000 mark, with losses of over 1%. The markets started trade on a weak note in the new month,

ICICI Bank Cuts MCLR; Loan EMIs To Get Cheaper

Mon, 03 Aug 2020 12:33:24 +0530

ICICI Bank recently announced a cut of 10 basis points in its lending rates across tenures under the marginal cost of funds based lending rate (MCLR) system. With effect from 1 August, the bank's one-year MCLR will come down

Manufacturing PMI Tumbles After Rebound In June; Business Optimism Improves

Mon, 03 Aug 2020 12:00:39 +0530

Manufacturing PMI for the month of July tumbled to 46 highlighting the impact of localized lockdowns being imposed to curb the spread of the virus. For the June month, the figure came in at 47.2. Though levels below 50 indicate contraction

Foreign Portfolio Investors Remained Net Buyers In Indian Markets In July

Mon, 03 Aug 2020 11:10:21 +0530

For the second consecutive month, foreign portfolio investors (FPI) remained net buyers in July by pumping in Rs 3,301 crore in the Indian markets amid hopes of a coronavirus vaccine. Depositories data showed that a net sum of Rs 7,563 crore

Tata Motors Climbs 8.5% Despite Reporting Q1 Loss

Mon, 03 Aug 2020 10:45:21 +0530

Shares of Tata Motors rose as much as 8.5 percent to Rs 113.5 apiece on Monday as was also the top-performing stock on the Nifty 50 index in the morning session. On 31 July, the automobile company reported a wider loss

Rupee Opens Weak; Trades At Day's Low Of 74.92 Per US Dollar

Mon, 03 Aug 2020 10:15:40 +0530

Rupee in Monday's trade (August 3, 2020) opens at 74.88 versus previous day's close of 74.81 per US dollar. And hits an early low of 74.92 per US dollar. The rupee off late has been underperforming its emerging market peers and

Bandhan Bank Falls 9% On Block Deals By Promoter

Mon, 03 Aug 2020 09:36:27 +0530

The report said that the block deals would be executed to bring down promoter shareholding in the bank to meet the Reserve Bank of India's (RBI) norms. Bandhan Financial Holdings owned 60.95 percent stake in the bank as

Nifty Trades Below 11,000 Points, Banking Stocks Fall

Mon, 03 Aug 2020 09:28:19 +0530

Benchmark indices opened the day lower, even as Asian markets were mostly trading higher. The Japanese and Chinese markets were leading gainers across Asia after a private survey released Monday showed China's manufacturing activity expanded in July. Indian benchmark indices both

Gold Hits Rs. 54000/10 Gm For The First Time On Global Record High Prices

Mon, 03 Aug 2020 12:03:49 +0530

Gold prices in India on August 3, 2020 hit price over Rs. 54000 per 10 gm for the first time in futures market. Silver in line also jumped by close to 1% and last traded at Rs. 65564 per kg. In

Markets Next Week: MPC Outcome, Earnings, Macro Data To Give Direction

Sun, 02 Aug 2020 20:37:05 +0530

Indian markets have witnessed first decline in seven weeks for the week ended July 31, 2020 and from the March bottom have recovered a huge 50%, so how will the markets fare in the week to August 7, 2020 shall largely

GST Revenue Collection Falls In July

Sat, 01 Aug 2020 17:23:01 +0530

On Saturday, the Ministry of Finance said that the gross GST (goods and service tax) revenue collected in July 2020 was Rs 87,422 crore, which is lower than Rs 90,917 crore collected in June Rs 1.02 lakh crore in July 2019.

Here's Why You Haven't Received LPG Subsidy For 3 Months

Sat, 01 Aug 2020 16:08:09 +0530

For the months of May, June and July, residents in India haven't received Direct Benefit Transfer (DBT) on their LPG cylinder purchases. Households in India are allowed a maximum of 12 LPG cylinder purchases per year at subsidized rates. However, cylinders

Land Records Digitalised In More Than 90% States In India

Sat, 01 Aug 2020 13:51:05 +0530

On Saturday, the Union Rural Development Ministry said that land records have been digitalised in 23 states/union territories. Under the Digital India Land Record Modernisation Programme (DILRMP), computerisation of registration of land, cadastral maps and land records have been completed in

Brokerages Bullish On RIL Stock After Q1FY21 Results

Sat, 01 Aug 2020 12:12:15 +0530

The stake sale in RIL's fuel retailing arm to BP Plc, Jio's outperformance and low tax outgo has enabled the conglomerate to post a profit of Rs. 13248 crore, a net increase of 31% despite the pandemic for the period ended

SGB 2020-21 Series V Subscription Opens Aug 3; Issue Price Rs. 5334/gm

Sat, 01 Aug 2020 11:10:49 +0530

The Sovereign Gold Bond Scheme 2020-21-Series V will open for subscription for the period from August 3-August 7, 2020. And for it the issue price has been fixed at Rs. 5334 per gm. The government in this fiscal earlier

Rupee Is Not Gaining Despite Weak Dollar: Here's Why

Sat, 01 Aug 2020 10:51:05 +0530

Dollar has been losing ground for quite some time now on worrisome US economic recovery outlook and the latest softness in the greenback was triggered by the US President Trump comments over delay in US elections, though market participants have advised

This Stock Maybe A Good Bet As Malls Reopen

Sat, 01 Aug 2020 10:01:32 +0530

Brokerage firm Motilal Oswal Institutional Equities has a "buy" call on the stock of Phoenix Mills as malls begin to restart operations. The firm sees an upside potential of 21 per cent in the stock and has set a target of

Microsoft In Talks To Buy Tik Tok In The US: Report

Sat, 01 Aug 2020 10:00:03 +0530

A Bloomberg report on Saturday, citing unnamed sources said that Microsoft Corp. is exploring an acquisition of TikTok's operations in the US, which is hoped to not only help the software giant acquire a popular social media app but help relieve

LPG Cylinder Prices Unchanged For August

Sat, 01 Aug 2020 16:06:04 +0530

On Saturday, in the monthly revision of LPG cylinder prices, state-owned oil marketers left the rates unchanged for August. These rates are generally revised at the start of every month based on changes in the international oil prices and the Indian

Apple Becomes Most Valuable Listed Company, Pips Saudi Aramco

Sat, 01 Aug 2020 08:53:04 +0530

On record gains of 10% on Friday (July 31, 2020), the iphone maker company has now topped as the world's most valuable listed company, outpacing Saudi Aramco, the energy leader in the process. The stock of Apple on Friday settled at

IT Dept Has Made Available ITR Form 3 For E-Filing

Sat, 01 Aug 2020 08:33:47 +0530

  ITR 3 is for individuals and HUFs with income from profits and gains of business or profession. For the ease of taxpayers given the current pandemic situation, Sitharaman deferred the due date for filing ITR for AY 2020-21 to

Kalyan Jewellers To File DRHP For Rs. 1800 Crore IPO

Sat, 01 Aug 2020 08:10:30 +0530

With the organised jewellery sector slowly heading towards normalcy, this has given confidence to the firm," one of the persons with knowledge on the matter on the development told a leading online portal. Earlier the firm was considering IPO in

CBIC Notifies GST E-Invoicing For Businesses; Excludes SEZs

Fri, 31 Jul 2020 16:26:07 +0530

On Thursday, the Central Board of Indirect Taxes and Customs (CBIC) notified the e-invoicing system for businesses with turnover above Rs 500 crore. This will come as a relief to small businesses as earlier the turnover threshold for mandatory issuing of

Zee, GAIL, Bharti Infratel May Be Dropped From Nifty In Next Rejig

Fri, 31 Jul 2020 16:04:17 +0530

As per the IDBI Capital report written by AK Prabhakar with co-author being Dhartikumar Sahu, some of these stocks including the likes of Zee Entertainment, GAIL India, and Bharti Infratel could be excluded from the Nifty50 in the next index rejig.

Sun Pharma Reports Q1 Net Loss At Rs 1,656 Crore Due To Exceptional Items

Fri, 31 Jul 2020 15:48:23 +0530

On Friday, Sun Pharmaceutical Industries reported a consolidated net loss of Rs 1,655.60 crore for the June-ended quarter, when compared with a profit of Rs 1,387.48 crore a year ago. Its revenue from operations stood at Rs 7,467.19 crore, which were

Sensex, Nifty Fall For The Third Straight Day, Eicher Motors Top Loser

Fri, 31 Jul 2020 15:42:08 +0530

In yet another volatile trading session, Sensex and Nifty ended in the red for the third straight day, dragged by heavyweight stocks like RIL and HDFC twins. Nifty ended with loss of 0.26% at. 11073, while Sensex came down by 0.34%

SBI Q1 Net Profit Jumps 81% Despite Lockdown

Fri, 31 Jul 2020 14:25:15 +0530

On Friday, the State Bank of India (SBI) reported an 81 percent jump in net profit for the June ended quarter at Rs 4,189.34 crore when compared to Rs 2,312.20 crore in the same quarter last year. The quarter includes an