Business News Updates

New Delhi: On the expected lines, oil companies did not wait long post declaration of state election results to raise the price of auto fuels — petrol and diesel across…

New Delhi: Two-wheeler manufacturer Suzuki Motorcycle India Private Ltd on Saturday said it closed last month with 40 per cent sales growth in the domestic market. In a statement issued here, the company said it sold 63,209 units last month as against a corresponding figure of 45,287 units sold in January 2018. Suzuki’s cumulative sales […]

New Delhi: The government raised its disinvestment target for 2019-20 by 12.5 per cent to Rs 90,000 crore even as less than half of the budgeted target of Rs 80,000 in the outgoing fiscal has been realised in the first 10 months. So far, the government has raised Rs 35,532 crore from the sale of […]

Mumbai: Lending major State Bank of India (SBI) has rebutted reports that data of its customers got leaked. “In the incident that has been highlighted, the investigation has revealed that SBI’s servers remained fully protected and there was no breach at this end,” the bank said in a statement. According to the bank, the incident […]

Mumbai: Amid mixed global cues the Sensex on Monday opened marginally lower as the financials traded in the red. Banking, finance and auto stock on the BSE declined while the consumer durable stocks gained close to 1.50 per cent. The S&P BSE Sensex opened marginally lower at 36,456.22 from its previous close of 36,469.43. At […]

New Delhi: As the shares of Amazon and Walmart lost 5 per cent and 2 per cent, respectively, on Friday, both the companies together lost a market capitalisation of $50 billion. The fall in stock prices can be attributed to disruption caused in their e-commerce operations in India after the new foreign direct investment (FDI) […]

Bengaluru: State Bank of India (SBI) Chairman Rajnish Kumar on Monday said he favours Direct Benefit Transfers (DBT) for farmers instead of farm loan waivers. “We are in the last leg of loan waivers in India. The country is now moving towards DBTs after Telangana first implemented it,” Kumar told reporters on the margins of […]

Mumbai: Ahead of a three-day RBI monetary policy review meet, set to start later in the day, Sensex and Nifty logged mild gains during the late afternoon session of trade of Tuesday. Capital goods, FMCG and metal stocks declined while energy, IT and banking stocks surged. At 2.54 p.m., the S&P BSE Sensex traded 78.22 […]

Mumbai: The Reserve Bank of India (RBI) has imposed separate monetary penalties on lenders — UCO Bank, Axis Bank and Syndicate Bank — over deficiencies in complying with different regulatory norms. The RBI imposed a penalty of Rs 2 crore each on UCO Bank and Axis Bank for non-compliance with its circular on ‘Collection of […]

Mumbai: BSE benchmark Sensex jumped over 250 points and NSE Nifty breached the 11,000 mark in early trade Wednesday led by gains in IT and metal stocks amid heavy buying by domestic and foreign institutional investors. The 30-share index was trading 255.89 points, or 0.70 per cent, higher at 36,872.70. Similarly, the 50-share NSE Nifty […]

Kolkata: State-run Allahabad Bank on Wednesday announced a net loss of Rs 732.81 crore for the quarter ended December 31, 2018, narrowing the net loss of Rs 1,263.79 crore reported for year ago period. The lender, which is under the prompt corrective action (PCA) of the Reserve Bank of India (RBI), had reported a net […]

Kolkata: State-run Allahabad Bank on Wednesday announced a net loss of Rs 732.81 crore for the quarter ended December 31, 2018, narrowing the net loss of Rs 1,263.79 crore reported for year ago period. The lender, which is under the prompt corrective action (PCA) of the Reserve Bank of India (RBI), had reported a net […]

New Delhi: Natural gas processing and distribution major GAIL has terminated a contract given to IL&FS for laying pipeline in Bokaro-Durgapur section due to poor project progress. The company in a regulatory filing to the BSE on Wednesday said that the Bokaro-Durgapur section (124 km) is now re-tendered and awarded to three different contractors to […]

Mumbai: Despite a muted trend in global markets, the key Indian equity market indices on Thursday opened higher ahead of a monetary policy announcement. The Sensitive Index (Sensex) of the BSE, which had closed at 36,975.23 points on Wednesday, opened higher at 37,026.56 points. Minutes into trading, it was quoting at 37,002.97 points, up by […]

Mumbai:The Reserve Bank of India Thursday cut benchmark interest rate by 0.25 per cent to 6.25 per cent on expectation of inflation staying within its target range, a move that may translate into lower monthly installments for home and other loans. The central bank also changed its monetary policy stance to ‘neutral’ from the earlier […]