Business news

RBI Chief relies on dipping trade gap to comfort market worries

Mumbai, Nov 14 (ANI): Reserve Bank of India (RBI) governor, Raghuram Rajan, highlighted the narrowing current account deficit as he sought to reassure investors who are worried that the country would be hit hard in a global market sell-off. Rajan said that it was important for Reserve Bank of India (RBI) to clarify the interpretation of economic events and the likely direction of economic policies at times of uncertainty so that markets worry about right things. Seeking to comfort the investors, Rajan said that there has been a dramatic reduction in the country's trade gap as per the fresh datas. Rajan also sought to reassure investors worried about the rupee's stability after the RBI has allowed oil companies to source dollars directly in markets instead of a special window provided by the central bank.

Nov 14, 2013

BSE closes points 87.51down on November 13

New Delhi, November 13 (ANI): Trading at the Bombay Stock Exchange today closed 87.51 points down to stand at 20194.40. At the National Stock Exchange the Nifty closed 28.45 points down to stand at 5989.60. Idea Cellular and Thermax were among the top gainers of Group A with an increase of 2.81% and 2.78% along with TV18 Broadcast and Reliance Communications Ltd with an increase of 2.52% and 2.48% respectively, while the top losers of Group A include Tata Global and GMR Infra with a decrease of 6.63% and 5.00% along with Andhra Bank and Shriram City Union Finance Ltd. with a decrease of 4.33% and 4.18% at the close of the markets. The Auto sector is up 54.44 points at 11,736.94, while the banking sector is down 75.23 points at 12,006.98 and the realty sector is down 14.71 points at 1,275.53. The Indian currency is up 0.25% at Rs 63.55 per dollar.

Nov 13, 2013

BSE closes points 223.51 down on November 12

New Delhi, Nov 12 (ANI): Trading at the Bombay Stock Exchange today closed 223.51 points down to stand at 20267.45. At the National Stock Exchange the Nifty closed 66.35 points down to stand at 6,012.45. Torrent Power and Bata India were among the top gainers of Group A with an increase of 5.60% and 4.31% along with National Aluminium Company Ltd. and Divis Lab with an increase of 4.08% and 3.74% respectively, while the top losers of Group A include MCX and Corporation Bank with a decrease of 10.03% and 8.88% along with Financial Technologies and Reliance Communications Ltd. with a decrease of 6.23% and 5.80% at the close of the markets. The Auto sector is down 168.62 points at 11,705.74, while the banking sector is down 224.91 points at 12,056.51 and the realty sector is down 15.62 points at 1,290.24. The Indian currency is down 0.85% at Rs 63.78 per dollar.

Nov 12, 2013

PepsiCo plans to invest Rs. 33,000 crores in India by 2020

New Delhi, Nov 11 (ANI): PepsiCo, the maker of Pepsi-Cola, Frito-Lay snacks and Tropicana juice, plans to invest Rs. 33,000 crores in India by 2020 to expand its presence in the country, its Chief Executive, Indra Nooyi said on Monday. Nooyi also added that PepsiCo shows great confidence in the country and its long-term growth prospects.

Nov 11, 2013

BSE closes points 163.27 down on November 11

New Delhi, November 11 (ANI): Trading at the Bombay Stock Exchange today closed 163.27 points down to stand at 20502.88. At the National Stock Exchange the Nifty closed 61.95 points down to stand at 6,078.80. Tata Communications and Divi's Lab were among the top gainers of Group A with an increase of 9.65% and 8.00% along with Adani Enterprises Ltd and Zee Entertainment with an increase of 7.26% and 5.44% respectively, while the top losers of Group A include HDIL and Dena Bank with a decrease of 8.69% and 6.88% along with GMR Infrastructure Ltd and Yes Bank with a decrease of 6.20% and 5.95% at the close of the markets. The Auto sector is down 141.28 points at 11,887.96, while the banking sector is down 173.33 points at 12,285.62 and the realty sector is down 40.97 points at 1,302.70. The Indian currency is down 1.26% at Rs 32.36 per dollar.

Nov 11, 2013

India warns chronic defaulters of service tax

Chennai, Nov 09 (ANI): Union Finance Minister, P Chidambaram, has warned tax defaulters of service tax and urged the non-filers to take advantage of the scheme that waives interest and other penalties. The Finance Minister was speaking at an interactive session on Voluntary Compliance Encouragement Scheme (VCES) - 2013 in Chennai on Saturday and called on non-payers to come clean before December 31, 2013. Under VCES - 2013, an Indian government amnesty scheme, one is offered a chance to make onetime payment of service tax dues for the period of October 1, 2007 to December 31, 2012, without interest and penalty.

Nov 9, 2013

BSE closes points 179.10 down on November 8

New Delhi, November 8 (ANI): Trading at the Bombay Stock Exchange today closed 179.10 points down to stand at 20643.67. At the National Stock Exchange the Nifty closed 53.00 points down to stand at 6,134.25. Aurobindo Pharma and Indiabulls Real Estate were among the top gainers of Group A with an increase of 9.57% and 8.50% along with HDIL and Tech Mahindra with an increase of 5.59% and 5.56% respectively, while the top losers of Group A include Prestige Estates and Sun TV Network with a decrease of 7.09% and 6.42% along with United Breweries Ltd and Axis Bank with a decrease of 5.42% and 4.81% at the close of the markets. The Auto sector is down 79.42 points at 12,004.60, while the banking sector is down 198.62 points at 12,420.67 and the realty sector is up 16.01 points at 1,342.89. The Indian currency is down 0.35% at Rs 62.63 per dollar.

Nov 8, 2013

BSE closes points 82.73 down on November 7

New Delhi, Nov 07 (ANI): Trading at the Bombay Stock Exchange today closed 82.73 points down to stand at 20812.21. At the National Stock Exchange the Nifty closed 30.10 points down to stand at 6,185.05. Muthoot Finance and Wockhardt Ltd. were among the top gainers of Group A with an increase of 9.37% and 6.92% along with Tata Steel and Mangalore Refinery And Petrochemicals Ltd. with an increase of 4.30% and 3.95% respectively, while the top losers of Group A include Neyveli Lignite and Bank of Baroda with a decrease of 7.96% and 5.91% along with HPCL and Indiabulls Real Estate with a decrease of 5.57% and 5.56% at the close of the markets. The Auto sector is down 113.32 points at 12,094.51 while the banking sector is down 290.33 points at 12,601.29 and the realty sector is down 38.05 points at 1,324.52. The Indian currency is down 0.24% at Rs 62.54 per dollar.

Nov 7, 2013

BSE closes points 85.73 down on November 6

New Delhi, November 6 (ANI): Trading at the Bombay Stock Exchange today closed 85.73 points down to stand at 20889.06. At the National Stock Exchange the Nifty closed 38.00 points down to stand at 6,215.15. Neyveli Lignite and Torrent Power Ltd. were among the top gainers of Group A with an increase of 14.66% and 11.96% along with Motherson Sumi Systems Ltd. and Gujarat State Petronet with an increase of 5.04% and 5.00% respectively, while the top losers of Group A include Indian Bank and IRB Infra with a decrease of 8.00% and 6.61% along with Syndicate Bank and Federal Bank with a decrease of 5.53% and 4.80% at the close of the markets. The Auto sector is down 79.01 points at 12,207.84 while the banking sector is down 246.07 points at 12,891.62 and the realty sector is down 27.88 points at 1,359.73. The Indian currency is down 0.92% at Rs 62.19 per dollar.

Nov 6, 2013

BSE closes points 287.65 down on November 5

New Delhi, Nov 05 (ANI): Trading at the Bombay Stock Exchange today closed 287.65 points down to stand at 20951.71. At the National Stock Exchange the Nifty closed 71.90 points down to stand at 6,245.45. Jubilant Foodworks Ltd. and Torrent Power Ltd. were among the top gainers of Group A with an increase of 15.06% and 12.89% along with Shriram City University and IRB Infrastructure Developers Ltd. with an increase of 11.80% and 11.16% respectively, while the top losers of Group A include Shriram Transport Finance Company Ltd. and Gujarat Mineral Development Corporation Ltd. with a decrease of 5.11% and 4.41% along with Reliance Communications Ltd. and United Breweries Ltd with a decrease of 4.36% and 3.94% at the close of the markets. The Auto sector is down 45.10 points at 12,291.51 while the banking sector is down 160.23 points at 13,099.73 and the realty sector is up 1.95 points at 1,385.78.The Indian currency is up 0.07% at Rs 61.70 per dollar.

Nov 5, 2013

Dhanteras loses shine as high prices hit gold sales

New Delhi, Nov 02 (ANI): With high gold prices, curb on gold import and economic downturn, the much awaited festival of wealth, ‘Dhanteras’, failed to bring much trade to the jewellers who saw a low turnover of buyers this year. The Hindu festival, which is known to be auspicious for the purchase of precious metals, especially gold, witnessed a unlike slow business for the jewellery shop owners. Infact, unlike the usual trend on the day of this festival, the prices of the yellow metal declined throughout the day, reason being the low demand.

Nov 2, 2013

Current Account Deficit Target revised to $60 billion

New Delhi, Nov 01 (ANI): Union Finance Minister P Chidambaram on Friday said the country will have a bumper harvest and the Current Account Deficit will come down to $60 billion on back of rising exports and declining gold imports.

Nov 1, 2013

BSE closes points 13.83 up on November 1

New Delhi, November 1 (ANI): Trading at the Bombay Stock Exchange today closed 13.83 points up to stand at 21,178.35. At the National Stock Exchange the Nifty closed 8.05 points up to stand at 6,307.20. Indian Bank and HDIL were among the top gainers of Group A with an increase of 10.44% and 10.21% along with Apollo Tyres and Union Bank with an increase of 8.58% and 8.30% respectively, while the top losers of Group A include Glenmark Pharma and United Breweries Ltd with a decrease of 4.02% and 3.91% along with Sobha Dev and Power Grid Corporation with a decrease of 3.69% and 3.11% at the close of the markets. The Auto sector is up 146.01 points at 12,220.9 while the banking sector is up 164.4 points at 13,251.33 and the realty sector is up 34.22 points at 1,377.69. The Indian currency is down 0.62% at Rs 61.88 per dollar.

Nov 1, 2013

Sensex at historic high, yet euphoria missing in market: Market Expert

Mumbai, Nov 01 (ANI): Even as the Sensex hit all-time high after five years and ten months on Friday, Market Experts say euphoria was still missing in the market, and that its value post Diwali will determine the state of things for future.

Nov 1, 2013

Special Screening of Krrish 3

Mumbai, Nov 01(ANI): Director Rakesh Roshan along with the lead actors of the super-hero flick Krrish 3 - Hrithik Roshan, Kangna Ranuat, and Vivek Oberoi organized a special screening of the movie for their near and dear ones in the showbiz capital Mumbai. Spotted on the occasion were many B-Town celebs including Shahrukh Khan and Javed Akhtar among others who wished the team all the very best. Overwhelmed by the positive response Hrithik looked super excited for the film. This superhero flick releases in 4,000 screens across India today.

Nov 1, 2013