Business News Updates

New Delhi: The government on Tuesday approved over Rs 9,000 crore capital infusion in IDBI Bank with a view to increasing the lender’s capital base. The Union Cabinet has cleared re-capitalisation of IDBI Bank with one-time infusion of funds by both the government and the LIC, Information and Broadcasting Minister Prakash Javadekar told reporters here. […]

Mumbai: Investor panic over the country’s lower than expected GDP growth figure of 5 per cent in the first quarter ending June, released last week, led the key market indices to decline by over 2 per cent on Tuesday. Consequently, the India ‘VIX’, or the volatility index — the market expectation of volatility over the […]

New York: The US dollar fell on Tuesday amid the rebounding British pound, as British Prime Minister Boris Johnson on Tuesday lost a key Brexit vote in the House of Commons, easing fears over a potential no-deal Brexit. The British government was defeated by a margin of 27 votes as rebel lawmakers seize the control […]

Mumbai: Sensex and Nifty turned choppy after opening slightly higher on Wednesday. The benchmark Sensex opened at 36,575.24 from its Tuesday’s close of 36,562.91. At 10.01 a.m., the Sensex was up 34.25 points or 0.09 per cent at 36,597.16. The Nifty was up 4.90 points or 0.05 per cent at 10,802.80. Nifty PSU Bank and […]

New Delhi: The India market for wearable devices grew 30.9 per cent Quarter-over-Quarter (QoQ) in the second quarter of 2019 and 123.6 per cent when compared to the same quarter a year ago, thus, reaching an all-time high of 3 million shipments in a single quarter, a report by the International Data Corporation (IDC) said […]

New Delhi: Gold continued its rally for the second consecutive day, climbing Rs 122 to Rs 39,248 per 10 gram in the national capital on Wednesday following overnight gains in the precious metal in global markets, according to HDFC Securities. Silver prices also maintained the rising trend and zoomed Rs 2,070 to Rs 50,125 per […]

New Delhi: The Reserve Bank of India Wednesday told the Delhi High Court that a Public Interest Litigation (PIL) cannot be used as a weapon to challenge the financial or economic decisions taken by the government or the RBI. The RBI made the submission in response to a PIL alleging that online payments platform Paytm […]

United Nations: The domestic market for India’s computer services sector is forecast to grow faster than its export market lessening its “over-reliance” on foreign countries, according to a report by the UN Conference on Trade and Development (UNCTAD). In India, which ranked second globally among the exporters of information communications technologies (ICT) services, the domestic […]

Mumbai: The Sensex opened over 100 points higher on Thursday, lifted by relatively positive global cues. At 9.55 a.m., the Sensex was trading at 36,848.19, higher by 123.45 points after the benchmark index opened at 36,821.71 from its previous close of 36,724.74. The Nifty was trading at 10,897.55, higher by 52.90 points. Meanwhile, Foreign Institutional […]

Bengaluru: Wipro secured a $300-million (Rs 2,156 crore) seven-year deal from the country’s leading private sector bank ICICI Bank through Vara Infotech for providing a suite of services, said the IT major on Thursday. “As Vara provides the services, we will absorb its 3,800 employees along with its contracts, facilities and assets through a business […]

New Delhi: While 40 per cent Indians believe that our society is broken, a massive 69 per cent feel that the economy is rigged to favour the rich and powerful, a new survey said on Thursday. Nearly 68 per cent Indians also feel that the traditional parties and politicians do not care about them, revealed […]

Mumbai: The board of Punjab National Bank (PNB) on Thursday gave an “in-principle approval” to merger with itself of Oriental Bank of Commerce (OBC) and United Bank of India (UBI). The board also approved the Rs 18,000 crore capital infusion, as announced by the government last week. On Wednesday Moody’ Investors Service updated its outlook […]

Mumbai: Set to create massive ripples in the growing digital streaming and video-on-demand market, Reliance Jio on Thursday commercially rolled out its fiber-to-the-home (FTTH) service “JioFiber” across 1,600 cities in India where the users will have an integrated experience of broadband, on-demand entertainment, voice-video calling and unlimited data, among others. With the Jiofiber welcome offer, […]

Mumbai: Domestic equity benchmark BSE Sensex advanced over 200 points in early session on Friday, led by gains in index heavyweights Infosys and RIL, amid positive cues from global markets. After rising 223 points, the 30-share index was trading 164.05 points, or 0.45 per cent, higher at 36,808.47 at 0930 hours, while the broader Nifty […]

Mumbai: The Indian rupee appreciated by 17 paise to 71.67 against the US dollar in early trade on Friday as gains in domestic equity market and resumption of US-China trade talks in October strengthened investor sentiments. At the interbank foreign exchange the rupee opened at 71.87, then gained further ground and touched a high of […]