Sensex surges 622 pts; HDFC rallies over 5 pc
Mumbai: Equity benchmark Sensex rallied 622 points on Wednesday, propelled by gains in index-heavyweights HDFC twins and Reliance Industries despite weak cues from global markets. The 30-share index settled 622.44 points or 2.06 per cent higher at 30,818.61, while the NSE Nifty rose 187.45 points, or 2.11 cent, to end at 9,066.55. HDFC was the […]
FPIs rush to exit India; withdraw USD 6.4 bn in March quarter amid COVID-19 uncertainty
New Delhi: Foreign investors turned net sellers in March quarter and pulled out USD 6.4 billion from the Indian equity markets largely due to the COVID-19 outbreak and ensuing risk-averse environment, a Morningstar report said. In comparison, foreign portfolio investors (FPIs) bought net assets worth USD 6.3 billion in three months ended December 2019. FPIs […]
WTO: India pushes for building broadband infra, digital skills in LDCs, developing countries
New Delhi, May 19 (PTI) India has made a case for capacity building of developing and least-developed countries in areas like digital skills and broadband infrastructure, under the World Trade Organisation (WTO), rather than negotiating binding rules on e-commerce as coronavirus pandemic has accelerated the shift to a digital economy. In a special virtual meeting of […]
CBI issues alert to states, UTs on banking phishing software on basis of Interpol input: Officials
New Delhi: On an Interpol input, the CBI has alerted police forces of states and UTs, and central agencies about banking trojan Cerberus that lures smartphone users into downloading malicious links related to COVID-19 and then infects devices to do phishing activities, officials said on Tuesday. The banking trojan known as Cerberus takes advantage of […]
KCIC delegation calls on Advisor Baseer Khan
SRINAGAR: A delegation of Kashmir Chamber of Industries and Commerce (KCIC), today, met the Advisor to lieutenant Governor, Baseer Ahmad Khan and apprised him about their problems and various issues pertaining to the industry. The delegation raised the issues of access to banks in Kothibag area, extending the tender license of parking by one year, […]
Govt’s fiscal stimulus package hopelessly inadequate: Chidambaram
New Delhi: The Congress on Monday said the fiscal stimulus package announced by the government is “hopelessly inadequate” given the gravity of the economic crisis as it amounts to only Rs 1.86 lakh crore, which is 0.91 per cent of the GDP. The party sought a revised and comprehensive package of 10 per cent of […]
Rupee settles 33 paise lower at 75.91 against US dollar
Mumbai: The rupee plummeted 33 paise to close at 75.91 (provisional) against the US dollar on Monday, tracking weak domestic equities and foreign fund outflows. Forex traders said rising crude oil prices and concerns about the effectiveness of the fiscal stimulus package also weighed on investor sentiment. Besides, market participants said the extension of the […]
Govt not intending to privatise Coal India: Minister
New Delhi: The government does not intend to privatise state-owned Coal India Ltd, Union minister Pralhad Joshi said on Monday. The statement comes in the wake of government opening up coal mining for the private sector and stating that the commercial mining will be done on revenue sharing mechanism instead of fixed rupee/tonne. “The Government […]
Eco stimulus: Govt to privatise non-strategic PSUs, suspend new bankruptcy filings
New Delhi: The Centre on Sunday announced plans to privatise PSUs in non-strategic sectors and suspend loan default-triggered bankruptcy filings for one year in the fifth and final tranche of its economic stimulus package that together with RBI’s liquidity measures totalled to about Rs 21 lakh crore but entailed less than 10 per cent cash […]
GST compensation to states pending for Dec-March FY20
New Delhi: Finance Minister Nirmala Sitharaman on Sunday said GST compensation is due to all the states for the four-month period of December-March. “We are periodically talking about it. GST dues are very clearly explained in the GST Council. It is not for selective states… All states’ GST dues which we recognise for December, January, […]
