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L&T Q4 Net Profit Falls 6.5%; Announces Rs 8/Share Dividend

Fri, 05 Jun 2020 19:32:24 +0530

On Friday, engineering and construction major Larsen & Toubro (L&T) reported a 6.5 percent decline in consolidated profit at Rs 3,197 crore for the quarter ended March 2020 when compared to Rs 3,418.24 crore in the same period of the previous

4 Less Risky Type Of Mutual Funds In Such Uncertain Times

Fri, 05 Jun 2020 19:20:49 +0530

Indeed nobody was prepared for such a pandemic that took on a toll on all from salary cuts to furlough to even job losses and such distressed hours remind us of planning ahead to let our ends meet in such unprecedented

Markets End The Day Higher, SBI Surges Post Numbers

Fri, 05 Jun 2020 15:42:51 +0530

Benchmark indices ended the day higher, led by strong gains in select banking stocks. Global cues were strong, with European markets trading with gains of 2 per cent, while Dow Futures were pointing to higher gains for the US markets in

SBI Q4 Net Profit Jumps 327% On Stake Sale In SBI Cards

Fri, 05 Jun 2020 15:15:22 +0530

On Friday, the State Bank of India (SBI) reported a 327.1 percent jump in its net profit for the March ended quarter at Rs 3,580.81 from Rs 838.40 in the same period a year ago. Its profit included an exceptional item,

Sun Pharma Initiates Phase II Of COVID-19 Drug Trial; Shares Gain

Fri, 05 Jun 2020 14:24:13 +0530

On Friday, shares of Sun Pharma gained as much as 3.3 percent to an intraday high of Rs 511 after the company informed the stock exchanges that it has commenced Phase II clinical trial on AQCH, a phytopharmaceutical (plant-derived) drug for

Akshay Kumar Only Indian On Forbes World's Highest Paid Celebrities List 2020

Fri, 05 Jun 2020 12:49:08 +0530

According to Forbes' World's Highest-Paid Celebrities 2020 list, people whose performances are enjoyed across the world, lost $200 million collectively from the previous year, as sports stadiums, movie theatres remained closed and music concerts were halted due to the COVID-19 pandemic.{image-akshaykumar-1591340896.jpg

Vodafone Idea Climbs 132% In A Month; Re-Enters Top 100 Valued Firms Club

Fri, 05 Jun 2020 11:45:29 +0530

Shares of Vodafone Idea rose over 12 percent on Friday to touch an intraday high of Rs 9.70 apiece. The stock has surged 132 percent in a month's time from Rs 4.15 on 4 May to Rs 9.70 on 5 June.{image-vodafoneidea-1590724162.jpg

Hexaware Technologies Locked In 20% Upper Circuit On Delisting Plan

Fri, 05 Jun 2020 10:48:20 +0530

Shares in Hexaware Technologies are locked in 20% upper circuit trade on June 5, 2020 after the company made public its delisting proposal. In a filing the company has informed the stock exchanges that promoters have made an offer to

Rupee Opens Higher At 75.35 Per US Dollar

Fri, 05 Jun 2020 10:26:15 +0530

Rupee on Friday (June 5, 2020) opened higher at 75.35 versus its previous close of 75.58 per US dollar. At around 10:21 am, the home currency was trading at 75.40 per US dollar. In the bond market, the yield on 10-year

GDP To Contract 1.5 Per cent: Professional Forecasters Survey

Fri, 05 Jun 2020 10:02:12 +0530

A Survey of Professional Forecasters (SPF) conducted by the RBI shows that GDP could contract by as much as 1.5 per cent. The survey conducted by the Reserve Bank of India saw twenty-four panellists participating. "Real gross domestic product (GDP)

Reliance Industries Shares Hit All-Time High On 6th Deal In 6 Weeks

Fri, 05 Jun 2020 10:01:55 +0530

Shares of Reliance Industries Limited (RIL) on Friday rose 2.4 percent to Rs 1,618 apiece, a new all-time high as it announced that it has found of its sixth investor for Jio Platforms in a span of six weeks. The stock

Goldman Sachs Cuts Earning Outlook For Indian Banks By 40% On Avg

Fri, 05 Jun 2020 09:19:48 +0530

On account of increased provisions on deferred loans and sharp fall in operating profit, Goldman Sachs has cut its earnings estimates for Indian banks by around 40 percent on average. Among banks, it has maintained a "buy" rating on Bandhan Bank,

Consumer Perception On Employment, Household Income Plunge: RBI Survey

Fri, 05 Jun 2020 07:50:19 +0530

Consumer perception on the general economic situation, employment scenario and household income plunged deeper into contraction zone, results of the May 2020 round of Consumer Confidence Survey (CCS) by the RBI shows. The survey was conducted through telephonic interviews during

'No Activity To Report,' Says Bharti Airtel On Buying Interest By Amazon

Fri, 05 Jun 2020 06:49:55 +0530

On buying interest by Amazon, the telecom giant Bharti Airtel on Thursday after market hours clarified that it regularly ventures with OTT and digital platforms and so no other activity to inform about. "We routinely work with

Abu Dhabi Sovereign Fund To Pick Stake In Jio Platforms

Fri, 05 Jun 2020 06:45:29 +0530

Reliance Industries and Jio Platforms Limited, have said that Mubadala Investment Company (Mubadala), the Abu Dhabi-based sovereign investor, will invest Rs 9,093.60 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs

Gold Price In India Falls On Weaker Dollar; Global Rates Surge

Fri, 05 Jun 2020 10:12:38 +0530

In today's trade (June 5, 2020), gold on the MCX in the futures market declined by0.64% to Rs 46398.00 per 10 gm. Gold prices in Thursday's trade gained in the futures market by as much as 1.5% to Rs. 46,696 per

Mubadala Investment To Invest Rs. 9093 Crore In Jio Platforms

Fri, 05 Jun 2020 05:27:00 +0530

There is one new investment deal in the kitty of Reliance Industries as on early Friday the company said that Abu-Dhabi based sovereign investor Mubadala Investment Company will buy a stake in Jio Platforms by investing Rs 9,093.60 crore at an

No Coercive Action Against Employers For Non-Payment Of Wages Till 12 June

Thu, 04 Jun 2020 17:54:19 +0530

On Thursday, the Supreme Court extended till 12 June its earlier order of 15 May that has asked the government to not take any coercive action against companies and employers for violation of Centre's 29 March circular for payment of full

SBI To Consider Raising Up To $1.5 Billion

Thu, 04 Jun 2020 17:26:20 +0530

On Thursday, the State Bank of India (SBI) said that its board will be meeting on 11 June to consider raising funds through single or more tranches of up to $1.5 billion. "To examine the status and decide on long term

Unlock 1.0: 14,000 Aadhaar Kendras Are Now Open Across India

Thu, 04 Jun 2020 16:38:38 +0530

The UIDAI (Unique Identification Authority of India) on Thursday announced that 14,000 Aadhaar Kendras or centres have been re-opened across India following the easing of lockdown restrictions during 'Unlock 1.0'. These are either run by the state governments, post offices, banks

Amazon In Talks To Purchase $2 Billion Stake In Bharti Airtel: Report

Thu, 04 Jun 2020 16:17:14 +0530 is in early-stage talks to buy a stake worth at least $2 billion in Bharti Airtel, a Reuters report said citing sources, underscoring the growing attraction of India's digital economy among American tech giants. If the said plan goes through,

Sensex Snaps 6-Day Winning Streak, Banking Stocks Decline

Thu, 04 Jun 2020 15:42:30 +0530

Benchmark indices ended the day lower, breaking a 6-day winning streak, in which the indices gained almost 12 per cent. Global cues were weak, with the European markets trading lower, while the Dow Futures suggested a weakish opening for the US

Real Estate Developers Should Sell At Realistic Prices And Clear Inventory: Goyal

Thu, 04 Jun 2020 15:29:45 +0530

In a video conference set up by NAREDCO, Commerce Minsiter Piyush Goyal asked developers in the real estate industry to sell the inventory at realistic prices, and not wait for market conditions to improve. Further as per a report in

IndusInd Bank Launches App For Opening Current Account

Fri, 05 Jun 2020 14:09:18 +0530

Private sector lender IndusInd Bank today launched a mobile app for opening current account. And using the app customers can open account in just few hours. The facility will come as a great relief amid such times when social

Kuwait Looking To Slash Migrant Population From 70% To 30%

Thu, 04 Jun 2020 13:27:40 +0530

As a slump in oil prices and the COVID-19 pandemic hurts Gulf economies, Kuwait's prime minister said that the country's expatriate population should be more than halved to 30 percent. "The ideal population structure is to have Kuwaitis being 70 percent

These Group Companies Made A Run Up Of Over 100% Since March 23 Lows

Thu, 04 Jun 2020 11:33:14 +0530

Ever since the lows struck amid Covid 19 pandemic on March 23, billionaire groups have come out all recouping huge gains of over 100%. And the frontrunner in the run up has been the Reliance Group companies. "Globally, equity markets are

Bharti Airtel Share Price Could Double In 3 Years Time, Says Jefferies

Thu, 04 Jun 2020 11:04:22 +0530

Bharti Airtel has been under pressure due to hefty AGR dues and tough competition from Reliance Jio. The telecom operator reported a consolidated loss of Rs 5,237 crore for the March-ended quarter, largely on account of statutory dues. However, Airtel has

Sensex Trades Higher, Tech Mahindra Top Gainer

Thu, 04 Jun 2020 09:30:56 +0530

Benchmark indices opened a tad lower in trade, as most Asian markets saw some profit booking after relentless gains of the last few days. However, buying support led to reversal of losses. The Nifty was last trading marginally higher by 33

Rupee Opens Lower At 75.62; Enough Room To Appreciate To 74 Levels

Thu, 04 Jun 2020 10:01:38 +0530

Rupee on Thursday (June 4, 2020, 2020) opened lower at 75.62 versus its previous close of 75.47 per US dollar. The Indian currency amid rise in oil prices is slated to remain steady and may even scale to 74 levels. {image-rsdollarnew-1591242079.jpg

Reliance Rights Issue Oversubscribes 1.59 Times

Thu, 04 Jun 2020 07:54:42 +0530

Reliance Industries Limited today announced that it has achieved successful closure of India's largest ever Rights Issue of Rs. 53,124.20 crore. It was subscribed approximately 1.59 times, cumulating to an overall commitment of over Rs.84,000 crore. The Rights Issue saw a