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GIFT IFSC prescribes the framework for listing Depository Receipts

With anobjective to develop the financial products and financial services in the Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC) theInternational Financial Services Centres Authority (IFSCA) has given theregulatory framework for listing of Depository Receipts (DRs).The listing of DRs by companies listed in FATFcompliant jurisdictions including India are given. Theeligible listed companies canraise capital by issuing and listing of DRs on the stock excha

29 Oct 2020 7:00 pm
Markets closed lower, Nifty ends below 11,700 on F&O expiry day

Indian share markets settled on a red note on Thursday ending with losses for the second consecutive day. The losses, however, were modest as compared to their other global peers. The BSE Sensex finished 173 points lower at 39,749.85, while the NSE Nifty50 index closed at 11,670.80, down 59 points. Sell-off continued throughout the day amid volatility due to October Future and Option (F&O) series expiry as well as weak global markets. Among sectoral indices, the Nifty Media index ended as the t

29 Oct 2020 5:06 pm
Zydus Cadila gets tentative nod from USFDA to market diabetes drug

Indian pharmaceutical company major, and a part of the Cadila Healthcare group, Zydus Cadila Limited on Thursday said it has received tentative approval from the US health regulator to market Linagliptin tablets, used to treat type 2 diabetes in adults. Zydus Cadila has received tentative approval from the US Food and Drug Administration (USFDA) to market Linagliptin tablets in the strength of 5 mg, it said in the stock exchange filing. The company said the newly approved medication will be manu

29 Oct 2020 1:28 pm
MCX Gold Watch: Gold Steady, Silver Could Decline Further

On MCX (Multi Commodity Exchange of India), gold and silver prices declined marginally, on Thursday, in line with the international markets. Gold was trading 0.15 pc lower at Rs 50,420 per 10 grams during noon session. In the international market, spot gold was a little changed at USD1,877.83 per ounce after a 2 pc fall on Wednesday as a fresh wave of COVID-19 cases in Europe and the US has kept the US dollar at a one-week high. A stronger US dollar puts pressure on gold prices. As for silver, i

29 Oct 2020 1:08 pm
Market Morning pulls: Nifty breaches 11,700 level

The Indian market key benchmark indices opened lower on Thursday with the Nifty below 11,700 level on weak global markets amid rising cases of covid-19 worldwide. The Nifty Midcap index is down 0.5 percent while the Small cap index shed 1 percent at the start of trading session.. During late morning session the BSE Sensex traded 101 points lower at 39,820-markwhile the Nifty50 index opened at 11,691 marks, down 36 points at around10.20 am. Broader markets too opened lower today. The Nifty Midcap

29 Oct 2020 10:31 am
Earning Track: Titan jewellery retailers business almost back level in Q2

Titan Company, Indias largest jewelry conglomerate, said second quarter (Q2) revenue from its mainstay jewellery division was almost at the same level as what was seen in the corresponding quarter last year. The jewellery division recorded revenue of Rs. 3,446 crores for the quarter as compared to Rs. 3,528 crores last year, a decline of 2pc. The watches and wearables business had revenue of Rs. 400 crores against Rs. 719 crores in the previous year, a decline of 44 pc. The eyewear biz reported

28 Oct 2020 4:37 pm
Wipro announced its partnership with SAP

Wipro Limited partners with SAP for developing industry cloud solutions for real estate sector: Global information technology (IT) major Wipro announced its partnership with SAP today for developing industry cloud solutions in the real estate sector. The IT conglomerate said that it will co-innovate with SAP SE on cloud-based solutions for the real estate industry. As a first step of its taking direction, Wipro has launched TAM solutions, which work on technologies like artificial intelligence,

28 Oct 2020 3:16 pm
TV18 Broadcast shares gains despite lower Q2 revenue

TV18 Broadcast Ltd whichis engaged in television broadcasting networks, has announced its results for the quarter and half year ended September 30, 2020, after market hours Tuesday. According to the results, its consolidated operating revenue in Q2FY21 stood at Rs. 1,013-cr versus Rs.1,127-cr in Q2FY20 an undergrowth of 10 percent. For teh first half FY21 the operating revenue stood at Rs. 1,789 cr versus Rs 2,325cr in H1FY20, under -growth of 23pc. The broadcasting companys consolidated operati

28 Oct 2020 1:04 pm
Petrol diesel prices may increase soon, Know today's rate

In the month of October, the prices of petrol and diesel have continuously been a relief to the common man. Indian Oil Companies (IOC, HPCL & BPCL) has not made any changes on October 28 as well. Meaning that the price of fuel remains the same for the 26th consecutive day. But due to the economic crisis due to COVID-19 and the subsequent pressure on revenue, the Center can again increase the excise duty on petrol and diesel. Sources indicated that if the government felt the need to raise more re

28 Oct 2020 10:58 am
TCS collaborated with Equinor for digital transformation

Tata Consultancy Services (TCS) has announced that it has strategically collaborated with Equinor, a Norwegian state-owned multi-national energy company. As per Company, under this collaboration, TCS will help Equinor to speed up its digitalisation process and enable it realise the vision of becoming a digital energy conglomorate. Leveraging on deep domain expertise of the energy sector, Tata Consultancy Services with its investments in research & innovation, expertise & scale in digital technol

28 Oct 2020 10:58 am
Stocks to Watch out Wednesday, Oct 28

Based on the respective development of the companys following stocks are to be watched out in trading session, on Wednesday 28 October . Tata Motors: The Auto major reported a better than expected set of numbers for the September quarter. The Revenue arrived at Rs. 53530 cr as against Rs. 65432 cr, down 18.2% year onyear, and loss of Rs. 307.3 cr vs loss of Rs. 187.7 cr Year on year. Bharti Airtel: Strong subscriber addition and up-trending of customers helped Bharti Airtel post highest ever qua

28 Oct 2020 10:35 am
Markets open Lower, Tata Motors rise after results

Indian share markets open lower on Monday. Key benchmark indices were seen marginally lower with the Nifty falling, even as select banking stocks declined. Global signals were passive, with Asian markets trading mixed. The Nifty of the national Stock Exchange was trading lower by 1% , while the BSE Sensex was down 57 points in the morning session. Shares in Axis Bank were little changed ahead of results to be declared later today. Tata Motors witnessed its shares gain after the company's con

28 Oct 2020 10:12 am
CEAT stock rises after strong Q2 performance

Shares of CEAT today closed at Rs1142 per share, up by Rs.13.40 from the previous closing on the NSE. CEAT, the flagship company of RPG Enterprises, is a tyre manufacturer having a strong presence in global markets. The company reported financial performances. According to the numbers, Net revenue from operations increased 17pc year-on-year) to Rs 1,978.5 crore during the quarter. Raw material costs rose by 6pc to Rs 1,059.20 crore in Q2 FY21 as against Rs 995.60 crore in Q2 FY20. Eearnings befo

27 Oct 2020 5:08 pm
Rupee closed higher Vs US dollar

Indian Rupee closed at days peak at 73.71 per American dollar, amid buying force seen in the domestic equity market. The benchmark currency closed 14 paise higher against the greenback. On Monday, Rupee had closed 25 paise lower. It opened lower for the third consecutive day amid lacklustre domestic equities and firm greenback. The local unit opened at 73.95 at the interbank forex market, down 10 paise over its last close of 73.85. The dollar clung to small gains on Tuesday while crude oil price

27 Oct 2020 4:46 pm
Stock market fluctuates, Kotak Mahindra Bank shares rise up to 8%

Mumbai: The Indian stock market is witnessing ups and downs on the second trading day of the week i.e. Tuesday. In early trade, the Sensex and Nifty had a slight increase, but after some time, the selling started dominating. The Sensex gained 100 points to 40,200 points in half an hour of trading. Talking about the Nifty, it gained 30 points to 11,800 points. Kotak Mahindra Bank shares were up 8%in early trade. Kotak Mahindra Bank's net profit jumped 26.7%to Rs 2,184.48 crore in the second q

27 Oct 2020 4:00 pm
Markets closed higher; banking stocks performs

Share Markets traded with a positive momentum throughout the day recovering the majority of the loses posted in yesterdays trading session. Bank Nifty outperformed the Nifty index by about 2 percent with both the indices trending higher, closing the day with the gains of 1 and 3 percent respectively. Broader markets also supported the rally as mid-caps surged higher. At closing, the BSE Sensex ended 376 points to 40,522.10 while the NSE Nifty50 index ended at 11889.40, up 119 points. Broader mar

27 Oct 2020 3:49 pm
PM Modi holds meeting with Finance Minister Sitharaman on economy issue today

New Delhi: PMModi and Union Finance Minister Nirmala Sitharaman are going to have a major meeting this evening on the issue of the economy. According to sources, the important meeting of PMModi with Finance Minister will be held at 6:30 pm today. According to sources, the meeting is expected to discuss the economic situation in the country, the demand revival. The economic relief package is also likely to be discussed. According to sources, the Finance Minister is also going to apprise PM Modi a

27 Oct 2020 1:31 pm
Sensex surges 100 points in opening trade, nifty declines

New Delhi: The Sensex has registered a decline of over 100 points in early trade on Tuesday due to declines by big companies like Reliance Industries, ICICI Bank and Infosys. The decline in global markets has also seen pressure at the domestic level.The Sensex, a major index of 30 shares of the Bombay Stock Exchange (BSE), started trading with an edge. However, it started showing sales in a little while, down 123.22 points, or 0.31%, to 40,022.28. Similarly, the Nifty at the National Stock Excha

27 Oct 2020 12:40 pm
Torrent Pharma profit rise 27pc to Rs 310 cr

Torrent Pharma has reported earnings results. According to the results, Profit before tax rose 29.7pc to Rs 384 crore in Q2 September 2020 as against Rs 296 crore in Q2 September 2019. The Company's Total tax expense for the quarter rose 42.31pc to Rs 74 crore as against Rs 52 crore in Q2 September 2019. The second result was declared after trading hours yesterday, 26 October 2020. Earnings before interest, taxes, depreciation, and amortization, rose 12pc to Rs 641 crore in Q2 FY21 as agains

27 Oct 2020 11:32 am
Gold-silver futures price surges in domestic market, Know rates

New Delhi: Amid a spurt in international rates of precious metals, Indian markets have also seen an edge in gold and silver prices today. On MCX, December's gold futures rose 0.28% to Rs 51,073 per 10 grams, while silver futures rose 1% to Rs 62,496 per kg. Gold rose 0.17% in the previous session, while silver declined 0.75%. In international markets, gold prices have gained momentum today due to the weak dollar and rising coronavirus cases. Gold rose 0.3% to $1,907.77 an ounce. The dollar i

27 Oct 2020 11:31 am
Kotak Mahindra Bank surpasses ICICI Bank In M-cap post Q2 Results

In a market valuation (MCap) scenario in the banking majors, it is observed that Kotak Mahindra Bank Ltd has surpassed or overtaken ICICI Bank Ltd in market value after the KOtak mahidnra reported strong performance in the September-ended quarter. As per Data of Bombay Stock Exchange, on the top hundred companies by market capitalization as per closing prices of 26 October, the market capitalization of Kotak Mahindra Bank scaled at Rs 2,80,232.77 crore and that of ICICI Bank was Rs 2,79,286.59 c

27 Oct 2020 11:03 am
SBI raises Rs 5000-Cr by issuing Basel-III compliant bonds

It is reported that theState Bank of India(SBI) onOctober 26 stated that the Bank has raised Rs 5,000 crore by issuing Basel-III compliant bonds. The directors committee of capital raising had a meeting on Monday and settled its approval to allocate 50,000 Basel-III compliant non-convertible, taxable debt instruments, State Bank of India said in a regulatory filing. The debentures qualifying as tier II capital of the bank of face value of Rs 10 lakh each, at par, bearing a coupon of 5.83 per cen

27 Oct 2020 5:15 am
SP group is likely to file settlement terms for its exit from Tata Sons

The Shapoorji Pallonji (SP) group is expected to file settlement terms for its exit from Tata Sons in the Supreme Court on October 27. The next pace may be a valuationof Shapoorji Pallonji group's 18.4 pc stake in Tata Sons, expected at a hearing in November. The settlement moving forward is good news for both parties,according to media report,citing a source aware of SP Group's plans.While the Mistry family, controlling owners of the Shapoorji Pallonji group, maintains that the value of

27 Oct 2020 5:02 am
Nitin Gadkari launches Khadi shoes to celebrate indigenous products in this Diwali market

New Delhi: PM Narendra Modi last Sunday talked about using indigenous goods in his monthly radio programme Mann Ki Baat programme. Meanwhile, Union Minister Nitin Gadkari today launched khadi shoes. These new initiatives have been launched by the Ministry of Micro, Small and Medium Enterprises (MSME) to promote khadi industry. Khadi cloth, masks and other products are being celebrated in large parts of the country. Meanwhile, khadi shoes have also come to the market during the festive season, wh

26 Oct 2020 5:04 pm
Sensex slip 540 pts, Nifty falls 160 pt

Key benchmark indices slippd sharply in trade ON Monday, as rising Covid cases from the US & Europe came back to hit global markets. The Sensex of the Bombay Stock Exchange (BSE) ended the day lower by 540 points AT 40145-mark, while the Nifty of the National Stock Exchange (NSE) dropped 162 points TO 11767-mark in trade. The big losers in the Nifty Hero Motor Corp, Bajaj Auto, Hiindalco, Mahindra & Mahindra, and JSW Steel. On the other hand, HDFCa life, Nestle India, Kotak Bank, IndsInd bank an

26 Oct 2020 4:48 pm
Nifty Bank index slip after FM announces loan moratorium waiver

The Finance Ministry has announced guidelines for waiver of interest which were paid by borrowers during period of loan moratorium, starting March -August this year. Last week, the Finance Ministry had released the guidelines where banks will pay interest on the interest that it received from borrowers during the moratorium. According to the guidelines, the banking company either be a public, co-operative, private or regional rural bank, will pay compound interest to borrowers loan account notwi

26 Oct 2020 3:22 pm
Earning Optimism, Nestle India share price rises sequentially

The share price of Nestle India gained at an intraday high level at Rs. 16,375.00 on Monday after the company reported its earnings for the quarter ended September 2020. The stock price advanced near 3.25 percent intraday high of on the National Stock Exchange (NSE). At the earning front, Nestle India registered a 1.4 pc decline in September quarter net profit at Rs 587-Cr as against Rs 595.3-Cr on year-on-year basis. However, the net profit rose by 20.7 percent sequentially. Revenue during the

26 Oct 2020 2:47 pm
Aurobindo signs pact to divest Natrol to sell US-based unit for USD 550 mn

Pharmaceutical major Aurobindo Pharma Limited on Monday stated that it has signed an agreement to divest Natrol, a wholly-owned unit of its United state-based subsidiary, to private equity firm New Mountain Capital for Rs 4,048 crore, or USD 550 million approx. It was in December 2014 that Aurobindo Pharma acquired Natrol. As per statement by the Aurobindo Pharma, it reads that the Company has reached a definitive agreement to sell Natrol, a unit of Aurobindo Pharma USA, Inc, to an affiliate of

26 Oct 2020 11:24 am
upee falls 16 paise against U.S. dollar, experts give tips for trading

Mumbai: In today's initial trade, the Indian rupee is trading with a weakness against the US dollar. The rupee depreciated 16 paise, to 73.78 against the US dollar in early trade today. Earlier in the session, the rupee stood at 73.62 per dollar against the US dollar. According to Anuj Gupta, Deputy Vice President (Energy & Currency), Angel Broking, the rupee can be targeted at 73.30 in the intra-day october futures at a price of 73.80. A stolos of Rs 74.10 should be put up for this rupee de

26 Oct 2020 11:15 am
Vedanta boards approves first interim dividend of Rs. 9.50

Metal mining conglomerate Vedanta Limited has approved first interior divined of Rs.9.50. This has been stated after the Board of Directors the company through resolution passed by circulation on Saturday, October 24, 2020. It has have approved First Interim Dividend of Rs. 9.50 per equity share i.e. 950 percent on face value of Re. 1.00 per share for the Financial Year 2020-21 amounting to Rs. 3,500 Crores. As stated by the board of Vedanta Limited, the record date for the purpose of payment of

26 Oct 2020 10:35 am
Reliance Retail intends to enforce Future group deal soon

Reliance Industries Limited has stated that the company will complete the deal withFuture Groupwithout delay after a Singapore arbitration panel ruled in favour ofAmazonto stay the stake sale on Saturday. In a statement issued late on Saturday,Reliance Retail Ventures Limited(RRVL), the retail division of Reliance Industries, said that it entered into the transaction under proper legal advice and the rights and obligations are fully enforceable under Indian Law. As reported by the PTI, Amazon.co

26 Oct 2020 10:04 am
Government to sell its stake in Rail Vikas Nigam

New Delhi: The Modi government of the Centre is gearing up to sell up to 15% stake in Rail Vikas Nigam Limited (RVNL). The government has invited applications from the merchant banker to orderly complete this share sale offer. The Department of Investment and Public Property Management (DEEPAM) has invited applications in this regard by issuing notifications. According to the notification issued, The government intends to disinvest 15%of its 87.84% shareholding in RVNL's paid-up capital shar

24 Oct 2020 2:05 pm