In a bid to further boost mobile manufacturing in the country, the government has slashed import duty on parts used for manufacturing of mobile phones to 10 per cent from 15 per cent.
Category: BUSINESS
Zomato gets RBI approval to operate as 'online payment aggregator'
Online food delivery platform Zomato on Thursday announced that its wholly-owned subsidiary Zomato Payments Private Limited (ZPPL) has been granted a certificate of authorisation from the Reserve Bank of India (RBI) to operate as an 'Online Payment Aggregator'.
Broader market unable to hold gains on concerns of high valuations, subpar results
A tough battle unfolded in the market as the Nifty remained highly volatile throughout the day. The sentiment may continue to lean towards the bears as the Nifty struggled to surpass the 21,500 mark, where call writers held substantial positions, said Rupak De, Senior Technical Analyst, LKP Securities.
India’s first Airbus A350 takes wings with passengers from B’luru to Mumbai
Air India on Monday launched its maiden scheduled commercial flight with the country’s first Airbus A350-900 -- also the first aircraft in the new bold Air India livery -- heralding a new era for Indian aviation.
FPIs pressed massive equity sale of Rs 24,000 cr in last 3 days
There is a sudden change in the strategy of the FPIs starting January 17 and they turned massive sellers in the cash market having sold equity worth Rs 24,147 crore in three days from January 17-19, says V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Tata Steel to shut blast furnaces at UK plant; 2,800 jobs likely to go
Tata Steel said on Friday that it will be shutting down the two blast furnaces in its plant in the UK by the end of this year, which would result in the loss of up to 2,800 jobs at the company's Port Talbot steelworks in Wales.
FPIs sold equity massively for Rs 20,480 cr in last 2 days
An important trend in the market which has implications for retail investors is the revival of the tug of war between FIIs and DIIs, says V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
RBI bulletin ups India's GDP growth forecast to 7% for Oct-Dec quarter
India’s economic activity remained resilient on the back of robust domestic demand, notwithstanding the external headwinds. Supply chain pressures in India ebbed in December and remained below historical average levels, according to the RBI’s monthly bulletin released on Thursday.
Samsung gears up to herald ‘AI smartphone’ era with Galaxy S24 series
The 'Circle to Search' feature is described as "Search any image, video, or text on your screen. Circle, highlight, scribble, or tap to pinpoint what you’re curious about, no screenshots necessary".
Infosys surges 7% to power Sensex gains of more than 600 points
Tech Mahindra is up more than 4 per cent, Wipro is up more than 4 per cent, TCS is up more than 3 per cent. BSE Sensex is trading up 631 points at 72,352 points.
Customer benefits being kept in mind while regulating Fintechs: RBI Guv
Reserve Bank of India (RBI) Governor Shaktikanta Das said on Thursday that post-pandemic digital lending has seen an exponential rise in India and at the same time, it has also raised a host of business conduct issues on which the central bank was keeping a close watch.
Over 30 Boeing 737 Max 8 with Indian operators inspected, no adverse findings: DGCA
The Directorate General of Civil Aviation (DGCA) on Monday said that checks and inspection of the Boeing 737 Max 8 aircraft by Indian operators have been satisfactorily performed on the fleet, with no adverse findings.
Nifty midcap100 up 44% while Nifty smallcap100 surges 54%
The IPO market was very vibrant, following the bullish trend in the secondary market. 58 IPOs came to the market for subscription to raise funds worth Rs 48,000 crore against 40 IPOs last year (total issue size of Rs 64,000 crore).
Piramal to adjust Rs 3,164 cr AIF exposure to comply with new RBI order
Piramal Enterprises has decided to adjust Rs 3,164 crore worth of exposure in Alternative Investment Funds (AIFs) in its financial statements through capital funds or provisions in order to comply with the latest RBI norms in this regard.
'Close call at 35,000 ft': Air India flight declares emergency after engine fire scare
The cause and call for emergency? A fire engine malfunction on one of the two CFM engines powering the Airbus A320neo, creating a tense situation for the crew and passengers on board in the flight on Tuesday.
Nifty hits all-time high as Fed sounds dovish
Thanks to the dovish narrative from the US Fed at the Federal Open Market Committee (FOMC) meeting, the Nifty 50 on Thursday scaled to an all-time high level and crossed the 21,100-mark for the first time, said Pranav Haridasan, MD and CEO at Axis Securities.
RBI hikes limits for UPI payments & e-mandates, to set up cloud facility, FinTech repository
Enhancing the payment limits for Unified Payments Interface (UPI), electronic mandates, setting up of cloud facilities, the financial sector and fintech repository were some of the major announcements made by the Reserve Bank of India Governor, Shaktikanta Das on Friday.
Seized SpiceJet aircraft released after Dubai court decision
SpiceJet flight carrying passengers from Ahmedabad to Dubai, which was diverted minutes before landing, and seized by a lessor recently has been released after Dubai International Financial Centre (DIFC) Court’s order.
Markets take a breather before RBI policy announcement
Among sectors, Nifty Auto, Nifty PSU Bank and Nifty Pharma ended in green while Nifty IT, Nifty FMCG and Nifty Metal ended on the lower side, he said.
Benchmark indices at record highs, markets in overbought condition
The benchmark indices reached new record highs on Monday, with Nifty surpassing 20,650 and Bank Nifty achieving a record high, gaining 1617.20 points, said Mandar Bhojane, Research Analyst at Choice Broking.
Retail investor exuberance pushing up broader market
Retail investor exuberance is pushing up the broader market. Investors should not be blinded by the recency bias and chase small caps running away without fundamental support, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Superstar investors preference for companies with low or no debt
Mid and small-cap stocks, known for their higher risk-reward ratio, have delivered high returns to investors like Kedia. Two of his top three holdings have risen by almost 100 per cent over the last year.
October sees third highest monthly inflow into equity funds
India equity mutual funds got inflows worth Rs 19,957 crore in October, up from Rs 14,091 crore in September, and the month saw the third highest monthly inflow into equity funds in the year 2023, as per Deepak Jasani, Head of Retail Research, HDFC Securities.
Unacademy's Graphy slashes about 30% jobs amid restructuring
Edtech platform Unacademy-owned software-as-a-service platform Graphy has laid off about 20-30 per cent of its workforce, or nearly 50 employees, in the last few weeks, as part of a restructuring exercise, media report said on Thursday.
Sensex plunges more than 600 points to below 64K mark
The uncertainties associated with the Israel-Hamas conflict will continue to weigh on markets in the near-term, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.