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Sensex crosses 30k points, Nifty at new closing high

April 26, 2017

MUMBAI: Positive global cues and optimism over the upcoming quarterly earning results pushed the Indian equity markets to their new closing highs during Wednesday's trade. The NSE Nifty touched its new record high level of 9,367 points. The BSE Sensex also made new record high of over 30,160-points mark during the intra-day trade. The wider 51-sc...


NALCO offer of sale oversubscribed over three times

April 21, 2017

MUMBAI: State-run National Aluminium Company offer for sale (OFS), got overwhelming response from investors with the retail portion subscribed 3.17 times on the second and last day of the offer on Thursday, the government announced. Institutional investors had bid 1.84 times on Wednesday. “The central government has successfully divested 9....


Currency returned to RBI post-note ban being calculated: Arun Jaitley

April 11, 2017

NEW DELHI: The Reserve Bank of India (RBI) is still calculating and taking stock of the currency that was returned to banks post demonetisation, Finance Minister Arun Jaitley said on Tuesday. In response to a question by Samajwadi Party leader Naresh Agarwal in the Rajya Sabha, Jaitley said that the RBI was taking stock of the currency that return...


Amazon replaces Twitter to live stream NFL

April 05, 2017

NEW YORK: Twitter will not stream the NFL’s Thursday Night Football games this year, instead Amazon will. The Jeff Bezos company won the rights paying $50 million for the deal, a media report said on Wednesday. “That’s bad news for Twitter. Not necessarily because those NFL streams drove a lot of new users or generated a lot of m...


Tax collections will exceed Rs 17 lakh crore, despite demonetisation: Arun Jaitley

March 22, 2017

NEW DELHI: Despite the impact of demonetisation, Indian tax collections this fiscal will exceed budgetary estimates, Finance Minister Arun Jaitley said on Wednesday. Replying to the debate on the Finance Bill in the Lok Sabha, Jaitley referred to an opposition member's fears of lower tax collections and said the actual collections by the end of th...


Idea Cellular, Vodafone India announce merger

March 20, 2017

NEW DELHI: In one of the biggest merger in the telecom space, Vodafone India and Aditya Birla Group-promoted Idea Cellular on Monday announced the much-awaited amalgamation. Idea Cellular in a regulatory filing on Monday said, its Board of Directors "have approved the scheme of amalgamation of Vodafone India Limited and its wholly owned subsidiary...


All cash withdrawal limits go back to pre-demonetisation era

March 13, 2017

MUMBAI: All limits on savings bank cash withdrawals post-demonetisation ended on Monday, as had been announced by the Reserve Bank of India (RBI) last month. In a two-stage process, the weekly withdrawal limit per account had been raised to Rs 50,000, from Rs 24,000, with effect from February 20, and all limits on ATM withdrawals were slated to ce...


ICICI, SBI saw most frauds in first 3 quarters

March 13, 2017

New Delhi, March: Private sector ICICI Bank suffered the most number of frauds during the first nine months of the current fiscal, while state-run State Bank of India took second place in this regard, Reserve Bank of India (RBI) has revealed. Data pertaining to the April-December period of 2016 provided to the Finance Ministry by the apex bank ear...


February services PMI rebounds after 3 months fall due to note ban

March 04, 2017

MUMBAI: Shrugging off the impact of the recent demonetisation measure, India’s services sector rebounded in February following continuous decline since the November demonetisation measure, revealed key macro-economic data on Friday. The Nikkei India Services Purchasing Managers’ Index (PMI) stood at 50.3 in February, up from 48.7 regis...


Note ban pulls down Q3 GDP growth in India to 7%

February 28, 2017

NEW DELHI: Reflecting a marginal impact of the November demonetisation measure, India's GDP for the third quarter ended December, estimated at Rs 30.28 lakh crore, recorded a growth of 7 per cent, compared with 7.3 per cent in the second quarter, official data showed on Tuesday. ...