Category archives for: Business

Sebi allows convergence of stock, commodity exchanges

Mumbai,  The Securities and Exchange Board of India (Sebi) on Thursday gave its nod to the convergence of both equities and commodity-backed stocks on exchanges from October 2018. The decision taken at the Sebi’s Board Meeting was announced by the regulator’s Chairman Ajay Tyagi. Tyagi said the convergence will be effective from October 2018 and […]

Equity indices close in red after scaling new intra-day highs

Mumbai,  The key Indian equity indices on Wednesday slipped into the red during the last hour of trade with all sectors closing with losses barring the healthcare stocks. The wider Nifty50 of the National Stock Exchange (NSE) fell by 40.75 points or 0.39 per cent to provisionally close (at 3.30 p.m.) at 10,490.75 points. The […]

Uber selling failed auto-leasing business to startup

San Francisco,  Ride-hailing app Uber is selling its failed auto-leasing business to a startup car marketplace that offers open-ended leases for used cars, reports say. “Uber Technologies Inc. has agreed to sell its US subprime auto-leasing business to startup car marketplace, bringing to an end the ride-hailing giant’s failed attempt to attract new drivers who lack […]

RCOM stocks continue upsurge on debt reduction announcement

Mumbai,  Shares of Reliance Communications (RCOM) on Wednesday continued to surge a day after Reliance Group’s Chairman Anil Ambani announced plans to reduce the company’s debt by Rs 25,000 crore to Rs 6,000 crore. Around 1.40 p.m., RCOM stocks traded higher by 34.97 per cent at Rs 28.79 per share. The scrip has touched a […]

Steel production rises 5.1%, consumption up 4.2% in April-November

Kolkata,  India’s production of finished steel from April to November rose by 5.1 per cent to 69.604 million tonnes while consumption grew by 4.2 per cent to 56.788 million tonnes during the period, a Steel Ministry report said. “Production of finished steel at 69.604 million tonnes registered a growth of 5.1 per cent during April-November […]

Equity indices scale fresh highs; Nifty50 crosses 10,500 intra-day

Mumbai, Ahead of a long weekend, the key Indian equity indices closed at new highs after recording fresh levels on an intra-day basis riding on broadly positive global cues and healthy buying in IT, auto and capital goods stocks. On the National Stock Exchange (NSE), the wider Nifty50 index crossed the 10,500 mark for the […]

Demonetisation, GST will bring long-term benefits: IMF

ArrayNew Delhi, The disruptive impact of demonetisation announced last year is a temporary phenomenon and the scrapping of the high-value currency would bring “permanent and substantial benefits”, according to the International Monetary Fund (IMF). In an interview to CNBC TV18, IMF Economic Counsellor and Director of Research Maurice Obstfeld said that although demonetisation, as well […]

RInfra’s Rs 18,800 cr deal to sell Mumbai power business to Adanis

Mumbai,  Announcing the largest ever debt reduction exercise by an Indian corporate, Reliance Infrastructure (RInfra) on Thursday said it has signed a definite agreement for the sale of its Mumbai power business to Adani Transmission Ltd for a total consideration of Rs 18,800 crore. While the total deal value of the sale of the Mumbai […]

Equity indices close marginally lower, RCom stocks gain

Mumbai,  Key Indian equity indices on Thursday provisionally closed on a flat-to-negative note on the back of broadly negative global cues, along with heavy selling in auto stocks. Automobile major Mahindra and Mahindra — which plunged over 3 per cent — was the top loser on the BSE followed by Axis Bank, Maruti Suzuki, Hindustan […]

Pay utility bills through Samsung Pay

New Delhi,  Samsung India on Thursday announced to add a bill payments feature to its mobile payments service Samsung Pay. “Consumers will be able to pay their utility bills seamlessly through Samsung Pay, set reminders and search favourite biller based on their current location,” Sanjay Razdan, Director, Samsung India, said in a statement. Users can […]

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