Business and Economy

Monday, January 27, 2020Sensex, Nifty in red; ICICI Bank up 2%

Mumbai, Jan 27: The benchmark Sensex opened 100 points lower as stock markets globally grew increasingly anxious about the economic impact of China's spreading virus outbreak which has claimed 80 lives.

ICICI Bank share price rose 2 per cent in the early trade after company registered a healthy 158.4 per cent year-on-year (YoY) growth in Q3FY20 profit.

At 10.28 a.m., the Sensex was down 123


Monday, January 27, 2020Fuel prices cut further due to slump in Brent crude

New Delhi, Jan 27: Fuel prices were further cut on Monday due to sharp drop in international crude oil rates following the outbreak of coronavirus in China. The price of petrol was cut by 15 paise and that of diesel by 25 paise across all major cities on Monday.

The petrol now costs Rs 73.71 a litre in Delhi, Rs 79.32 a litre in Mumbai, Rs 76.33 a litre in Kolkata and Rs 76.56 a litre in Chenn


Monday, January 27, 2020DIPAM invites bids for Air India sale with easy deb

New Delhi, Jan 27: The disinvestment department or DIPAM has invited an Expression of Interest (EoI) from potential investors for selling 100 percent of Air India and its stake in two subsidiaries with easy bidding norms of debt and eligibility, in its second attempt to privatise the debt-laden state-run airline.

The deadline for submission of EoI for 100 per cent divestment in Air India and t


Saturday, January 25, 2020Petrol, diesel prices see big cut on Saturday

New Delhi: Fuel prices were dropped further on Saturday after international crude oil rates fell sharply following the outbreak of Coronavirus in China.

The price of petrol was cut by 27 paise and that of diesel by diesel by 30 paise a litre across all major cities on Saturday.

The petrol now costs Rs 74.16 a litre in Delhi, Rs 79.76 a litre in Mumbai, Rs 76.77 a litre in Kolkata and Rs 77.


Saturday, January 25, 2020Vivo grabs 2nd spot in India smartphone market for 1st time

New Delhi, Jan 25: Chinese smartphone maker Vivo created history by grabbing the second spot in the Indian smartphone market for the first time in the fourth quarter of the calendar year 2019.

Vivo captured 21 per cent market share to reach the second spot as Samsung slipped to third place with 19 per cent market share. Xiaomi was at No 1 position with 27 per cent share in Q4 2019, according


Friday, January 24, 2020'Upcoming Budget should announce measures to empower women'

New Delhi, Jan 24 (IANS) As Finance Minister Nirmala Sitharaman is set to present the Union Budget 2020-2021 on February 1, women entrepreneurs have called for measures to empower women financially and promote gender sentisation in the upcoming budget.

According to consultants and leading women entrepreneurs, more schemes and allocations should be made towards empowering more and more women.


Friday, January 24, 2020Club Factory surpasses 100mn monthly active users in India

New Delhi, Jan 24 (IANS) E-commerce platform Club Factory on Friday said it has surpassed 100 million monthly active users (MAUs) in India following a strong surge in user adoption across the country.

Club Factory has witnessed a sharp rise in traffic, clocking a four-fold growth in orders received in 2019 on the platform as compared to the previous year.

"With our investment and efforts to


Friday, January 24, 2020Yes Bank gains 10% in 2 days over SBI's chairman remark

Mumbai, Jan 24 (IANS) Struggling Yes Bank topped the Nifty50 table, advancing nearly 4 per cent on Friday. However, market analysts say that these gains will be short-lived until a concrete step is taken to rescue the bank.

The shares of the fourt- largest private lender gained over 10 per cent in two sessions after SBI Chairman Rajnish Kumar said: "Yes Bank will not be allowed to fail."



Friday, January 24, 2020GST credit against excise duty on petroleum products

New Delhi, Jan 24 (IANS) In a big relief to the oil sector, government may allow producers of petroleum and natural gas to claim credit for GST on all inputs, input services and capital goods being paid by them even though the output petroleum products including petrol, diesel, ATF remain outside the new indirect tax framework.

Sources said that government is looking at an industry proposal to


Friday, January 24, 2020Have responded to PNGRB with all information: Adani Gas

New Delhi, Jan 24 (IANS) Reacting to reports of having received a notice from the petroleum regulator, which news dented company stocks in Friday trade, Adani Gas (AGL) clarified on Friday that it is in full compliance of the applicable rules and has responded to the Petroleum and Natural Gas Regulatory Board of India (PNGRB).

Adani Gas stocks tanked up to 14 per cent to Rs 148 on the BSE on F


Friday, January 24, 2020Global markets under pressure over fear of coronavirus spread

Mumbai, Jan 24 (IANS) Fears that the outbreak of coronavirus in China may disrupt economic activity and global growth has sent the stock markets tumbling.

Chinese health authorities on Friday said that 830 cases of pneumonia caused by coronavirus were confirmed in 29 provincial-level regions in the country. The pneumonia has so far claimed 25 lives.

A sharp adverse reaction from Asian, US a


Friday, January 24, 2020J&K aims to register 20 pc growth in tax collection in 2019-20

Jammu, Jan 24: Jammu and Kashmir Taxes Department (JKTD) is aiming to register 20 per cent growth in tax collection by the end of the current financial year, a senior official has said.

J&K is targeting the growth of 20 per cent in few heads of tax collection against the target set for 2019-20, Commissioner State Taxes, J&K, P K Bhat said here.

Under the Heads of Stamps and MST, the growth


Thursday, January 23, 2020Sensex jumps up 270 points as oil prices dip

Mumbai, Jan 23 (IANS) The Sensex closed 271 points higher on Thursday after three consecutive days of decline, primarily owing to the fall in oil prices.

Brent futures fell to their lowest in seven weeks on concerns that the virus outbreak in China may dent fuel demand.

Sensex closed 271 points higher at 41,386.40 while the Nifty closed at 12,179.90, up by 73 points. All the sectors ended i


Thursday, January 23, 2020SHARP Corp expects major push in Indian market with PCI tech

New Delhi, Jan 23 (IANS) Japanese technology and appliances major SHARP Corporation expects a major push in India from the Plasmacluster Ion (PCI)technology featuring in its appliances, which enables them to identify and remove toxic air pollutants.

Indian Institutes of Technology, Delhi have verifed the company's Plasmacluster Ion (PCI) technology.

The technology is a significant feature i


Thursday, January 23, 2020USITC to review parts of initial order on M&M Roxor

New Delhi, Jan 23 (IANS) Mahindra and Mahindra (M&M) on Thursday said that the US International Trade Commission (USITC) will review part of the initial determination on the complaint filed by Fiat Chrysler Automobile ANV, including that on the infringement of the trade dress of Jeep.

In November, an administrative law judge of the USITC found that the Roxor model of Mahindra violates the "tra


Thursday, January 23, 2020MG Motors' launches electric internet SUV 'ZS EV' in India

New Delhi, Jan 23 (IANS) Morris Garages (MG) Motor India on Thursday launched an electric internet SUV, 'ZS EV' at a starting price of Rs 20.88 lakh.

The inaugural price of the car was Rs 19.88 lakh (ex-showroom, New Delhi), for customers who had booked the car before January 17 midnight.

The ZS EV Excite is now available for Rs 20.88 lakh while the ZS EV Exclusive is available for Rs 23.58


Thursday, January 23, 2020AI to replace 69% of manager's workload by 2024: Gartner

Mumbai, Jan 23 (IANS) Artificial Intelligence (AI) and emerging technologies such as virtual personal assistants and chatbots will replace almost 69 per cent of the manager's workload by 2024, according to a prediction by research and advisory firm Gartner on Thursday.

"The role of manager will see a complete overhaul in the next four years," Helen Poitevin, Research Vice-President at Gartner,


Thursday, January 23, 2020Relief to consumers as petrol, diesel get cheaper

New Delhi, Jan 23 (IANS) Fuel prices dipped further on Thursday after slump in international crude oil rates following the outbreak of coronavirus in China. The price of petrol was cut by 17 paise and that of diesel by 19 paise a litre across all major cities on Thursday.

The petrol now costs Rs 74.65 a litre in Delhi, Rs 80.25 a litre in Mumbai, Rs 77.25 a litre in Kolkata and Rs 77.54 a litr


Thursday, January 23, 2020Relief to consumers as petrol, diesel get cheaper

New Delhi, Jan 23: Fuel prices dipped further after slump in international crude oil rates following the outbreak of coronavirus in China. The price of petrol was cut by 17 paise and that of diesel by 19 paise a litre across all major cities on Thursday.

The petrol now costs Rs 74.65 a litre in Delhi, Rs 80.25 a litre in Mumbai, Rs 77.25 a litre in Kolkata and Rs 77.54 a litre in Chennai after


Wednesday, January 22, 2020Samsung India aims 35% refrigerator market share in H1 2020

New Delhi, Jan 22 (IANS) Samsung India on Wednesday said that it grabbed 33.9 per cent market share in the second half of 2019 to become the top refrigerator player in India and aims to secure 35 per cent market share in the first half of 2020 as demand from small-town India grows in leaps and bounds.

According to Raju Pullan, Senior Vice President, Consumer Electronics Business, Samsung India


Wednesday, January 22, 2020Cabinet nod for India-Brazil MoU in oil and gas sector

New Delhi, Jan 22 (IANS) The Union cabinet on Wednesday approved the signing of a memorandum of understanding (MoU) between India and Brazil on cooperation in the field of oil and natural gas.

The MoU will enhance cooperation between the two sides in the oil and natural gas sector, a cabinet statement said.

Under the MoU, both sides will work towards establishing cooperation in the explorat


Wednesday, January 22, 2020IndiGo, SpiceJet, GoAir seek TDS relief for expat pilots

New Delhi, Jan 22 (IANS) Domestic carriers IndiGo, SpiceJet and GoAir have pitched for TDS (tax deducted at source) relief for expat pilots.

The airlines have claimed that foreign pilots insist on a tax-free salary, knowing that India faces a shortage of experienced pilots at senior level.

In their budget proposal, airline lobby group, the Federation of Indian Airlines (FIA), said that air


Wednesday, January 22, 2020Canon India eyes healthcare imaging, security market

New Delhi, Jan 22 (IANS) After cementing its position across four key business verticals -- camera, home printers, office printers and commercial printing solutions -- Canon India is now ramping up its effort to tap the growing healthcare imaging and security surveillance market in the country, a top company official said here on Wednesday.

After grabbing a substantial share in the Indian mark


Wednesday, January 22, 2020Goa Cong to approach CBI over illegal mining lease renewals

Panaji, Jan 22 (IANS) With the Goa Chief Minister maintaining that the Lokayukta's report on illegal renewal of 88 mining leases in the coastal state in 2015 is "recommendatory" only, the state Congress on Wednesday said it will approach the CBI for a probe.

Goa Lokayukta P.K. Mishra had on Tuesday indicted former Chief Minister Laxmikant Parsekar, former Mines Secretary P.K. Sain and Mining a


Wednesday, January 22, 2020India Ratings expects GDP growth of 5.5% for FY21

New Delhi, Jan 22 (IANS) India Ratings and Research on Wednesday said that it expects gross domestic product (GDP) to grow at 5.5 per cent in FY21.

The agency's forecast is marginal higher than the GDP growth of 5 per cent estimated by National Statistical Office for FY20.

The current slowdown in economic activity, according to the agency is primarily owing to the abrupt and significant fal


Wednesday, January 22, 2020Markets open on a positive note on Wednesday morning

Mumbai, Jan 22: The 30-scrip Sensitive Index (Sensex) opened on a positive note.

The Sensex of the BSE opened at 41,467.13 points and touched a high of 41,532.29 points. The Sensex touched a low of 41,451.71 points.

On Tuesday the Sensex closed at 41,323.81 points.

The Sensex was trading at 41,466.43 points up by 141.73 points or 0.35 per cent at 9.26 a.m

On the other hand, the broade