📰 Latest Economy & Stock Market News
DoT approves 31 proposals worth Rs 3,345 crore for telecom equipment PLI
Updated at : 2021-10-15 10:20:01

The DoT, in an official statement , said “a total of 31 companies, comprising 16 MSMEs, 15 non-MSMEs, (8 domestic and 7 global companies) have been given approval,

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Reliance Retail rolls out gourmet store Freshpik in Mumbai
Updated at : 2021-10-15 10:20:01

Freshpik offers fruits and vegetables as well as essential ingredients for international cuisines.

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Stocks seen bullish next week but earnings will dictate market strength
Updated at : 2021-10-15 10:20:01

The domestic equity market is expected to sustain its bullish momentum next week, as investors remain uninhibited by softness in global markets. The strong beginning to the September quarter earnings season has improved confidence among investors and speculators alike, but analysts said the earnings momentum will need to sustain in order to replicate this week’s move.

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New rules for Vodafone retrospective tax settlement notified
Updated at : 2021-10-15 08:20:01

Vodafone’s tax demand in the tax dispute was validated under section 119, as distinct from the others and therefore a separate set of rules had to be notified. Conditions, prescribed under these rules, are akin to the ones issues earlier. The company will have 45 days to file its application to settle its tax dispute.

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India fast moving towards full Capital account convertibility: RBI
Updated at : 2021-10-15 08:20:01

" There is an effort to liberalize FPI debt flows further with the introduction of the Fully Accessible Route (FAR) which places no limit on non-resident investment in specified benchmark securities" said Rabi Shankar at the Foreign Exchange Dealers’ Association of India (FEDAI) Annual Day. " The move is unambiguously towards an eventual unfettered access for non-residents into Government securities".

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Coal India suspends e-auction as coal crisis deepens, metal makers face a shortage
Updated at : 2021-10-15 08:20:01

“Given the above fact, coal companies are advised to refrain from conducting any further e-Auctions of coal with the exception of Special Forward E-Auction for Power Sector, till the situation stabilizes,” said Coal India in a letter to the coal companies dated 13th of October.

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UCO Bank CEO Atul Kumar Goel appointed chairman of IBA
Updated at : 2021-10-15 08:20:01

Last month, Goel was shortlisted by the Banks Board Bureau (BBB) to take over as Punjab National Bank (PNB) CEO from January 2022.In the managing committee meeting on Thursday, IBA members also elected State Bank of India chairman Dinesh Kumar Khara, Canara Bank CEO L V Prabhakar and IDBI Bank CEO Rakesh Sharma as deputy chairmen of the IBA.

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PhonePe revenue up 85%, losses down 44% in FY21
Updated at : 2021-10-15 08:20:01

PhonePe, which competes with Paytm, Google Pay and Amazon Pay, has reported marginally lower net loss of Rs 1,727 crore for the period.

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PNB Housing shelves share sale plan citing legal delays
Updated at : 2021-10-15 08:20:01

​Carlyle arm Pluto Investments S.a.r.l and other investors will withdraw the proposal to buy stake in the company. Late in May, the board of PNB Housing had approved placement of 82 million preferential equity shares and 20.5 million share warrants with Carlyle Group unit Pluto Investments, Salisbury Investments, General Atlantic Singapore Fund FII Pte Ltd and Alpha Investments V Pte Ltd.

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Services business helps HCL Tech post 13% jump in Q2 revenues
Updated at : 2021-10-15 08:20:01

The Noida-based company said on Thursday that it hopes to recover lost ground in its products and platforms business in the ongoing third quarter, which is a seasonally strong one for that business.

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