Business

  • Budget euphoria: Sensex soars nearly 1,200 pts; Nifty tops 14,600
    Mumbai, February 2 (PTI): The BSE benchmark Sensex zoomed nearly 1,200 points while the NSE Nifty reclaimed the 14,600-level on Tuesday as the post-Budget rally continued for the second session. The Sensex ended 1,197.11 points or 2.46 per cent higher at 49,797.72. The BSE gauge topped the 50,000-level briefly and swung 1,554 points during the day. Likewise, the Nifty advanced 366.65 points or 2.57 per cent to end the session at 14,647.85. Together with Budget day gains, the S
  • Govt accepts Finance Commission's recommendation on lower sharing of tax proceeds with states
    NEW DELHI, FEBRUARY 2 (IANS): The Finance Ministry has accepted the 15th Finance Commission's recommendation to share 41 per cent of the net proceeds of Union taxes with the states against the current 42 per cent, among other recommendations. The commission was of the view that financial resources equivalent to 1 per cent of the net proceeds of Union taxes should be retained with the Centre for financing the requirements of the newly-formed Union Territories of Jammu & Kashm
  • Canon unveils 7 new ink tank printers in India
    NEW DELHI, FEBRUARY 2 (IANS): Expanding its PIXMA G Series lineup, Japanese giant Canon on Wednesday launched seven new ink tank printers at a starting price of Rs 11,048. The new PIXMA G Series printers include the drip-free, hands-free ink refilling mechanism and a user-replaceable maintenance cartridge designed to ensure minimum downtime and maximum productivity for homes and businesses. "As we continue to address the evolving needs of our customers, we are delighted to f
  • JK Tyre enters into synergic partnership with NATRAX
    NEW DELHI, FEBRUARY 2 (IANS): JK Tyre & Industries Ltd. has signed a Memorandum of Understanding (MoU) with the National Automotive Test Tracks (NATRAX) towards the development and polishing of Wet Grip Test Track at NATRAX Pithampur, Madhya Pradesh. NATRAX is one of the state-of-the-art automotive testing and certification centers under NATRIP, a flagship project of the Ministry of Heavy Industries, Government of India. NATRAX consists of 16 test tracks, covering aspects suc
  • Fuel remains most taxed, to contribute majorly towards new cess
    NEW DELHI, FEBRUARY 2 (IANS): The levies on petrol and diesel will once again provide lion's share of the new agriculture infrastructure and development cess introduced by the government in Budget 2021-22. Revenue secretary Ajay Bhushan Pandey has projected Rs 30,000 crore collection from new cess in FY22, but tax experts said that more than this amount may come from the Rs 2.5 per litre cess on petrol and Rs 4 per litre on diesel. A Rs 1 per litre increase in duty on petrol
  • Apple leads global tablet market in 2020, Samsung 2nd
    NEW DELHI, FEBRUARY 1 (IANS): Apple shipped 57.6 million iPads in 2020, garnering top spot with 30.6 per cent tablet market share globally, according to a new report. Apple had a great holiday quarter (October-December period) with its tablets shipments up 37 per cent year-on-year, fulfilling consumer, commercial and education demand, according to a report by Strategy Analytics. Samsung shipped 31.2 million tablets in 2020, securing second spot with 16.6 per cent market share was
  • FDI hike in insurance to invite foreign majors
    New Delhi, February 1 (IANS): In a big boost to FDI inflows and the insurance sector, Finance Minister Nirmala Sitharaman on Monday announced increase of FDI limits from 49 per cent to 74 per cent. Shares of insurance stocks surged after the announcement. ICICI Prudential Life Insurance was up by 2.87 per cent and Max Financial was up by 1.46 per cent. Increasing FDI limits in insurance has been a longstanding demand of the United States where most of the big insurance majors are
  • Additional revenue measures unlikely: Axis Capital
    New Delhi, February 1 (IANS): Additional revenue measures in Union Budget to retain the corporate tax structure and a hike on personal income tax will curb consumption. Axis Capital said in a note that recently revised corporate tax structure would be retained to maintain policy consistency so as to not deviate from objective of attracting new investments. It added that personal tax hikes would curb consumption momentum hence prove counter-productive. Personal tax cuts may not ne
  • Markets expected to be volatile today
    Mumbai, February 1 (IANS): The BSE Sensex is trading in the green just before the presentation of the Union Budget on Monday. The Sensex was up by 387 points at 46,673 points in morning trade as all eyes were on the crucial Budget to be presented by Finance Minister Nirmala Sitharaman. Indusind Bank, ICICI Bank were the top gainers in the 30 share index. IT and pharma stocks are in the red while all other sectors in the indices are trading in the green. However, trading is exp
  • No rise in retail petrol/diesel prices despite new cess in Budget
    New Delhi,  February 1 (IANS): The government on Monday imposed agriculture and infrastructure development cess at the rate of Rs 2.5 per litre on petrol and Rs 4 per litre on diesel to mobilise additional resources required for massive investment required in these two key segments of the economy that hold the key to bringing back the country on the path of growth. However, to prevent the additional cess from impacting the retail price of two petroleum products that have alread
  • Amazon expands regional reach with services for sellers in Kannada
    Bengaluru, January 31 (IANS): Amazon on Sunday announced that sellers will be able to register on the Amazon.in marketplace and manage their online business in Kannada. This includes everything from registering as an Amazon seller for the first time, to managing orders, inventory management and accessing performance metrics -- all in the language of their preference. "This experience has been made available on the Amazon seller website as well as on the mobile app. Amazon al
  • Petrol prices remain steady ahead of Budget day
    New Delhi, January 31 (IANS): Prices of petrol and diesel remained unchanged for the fourth consecutive day across the metros. In the national capital, petrol was priced at Rs 86.30 per litre. In Mumbai, Chennai and Kolkata, petrol was sold for Rs 92.86, Rs 88.82 and Rs 87.69 per litre. Diesel prices in Delhi, Mumbai, Chennai and Kolkata remained unchanged at Rs 76.48, Rs 83.30, Rs 81.71 and Rs 80.08 per litre, respectively. Though firm global crude and product price is the
  • Oppo, Vivo grow strong in China smartphone market: Report
    NEW DELHI, JANUARY 31 (IANS): The smartphone market in Mainland China finished 2020 with 84 million units shipped in Q4 2020, declining 4 per cent year-on-year, and brands like Oppo and Vivo performed really well, according to a new report. Oppo rose rapidly into second place, shipping 17.2 million smartphones, growing 23 per cent year-on-year. Vivo also showed strong year-on-year growth at 20 per cent, and came in third at 15.7 million units. For Q4 2020, Huawei (including Honor
  • RBI to do annual assessment of banks' grievances redressal system
    MUMBAI, JANUARY 31 (IANS): The Reserve Bank of India (RBI) will undertake annual assessment of customer service and grievances redressal mechanisms of banks as part of its supervisory mechanism. The RBI recently decided to put in place a comprehensive framework for grievances redressal. "The Reserve Bank will undertake, as a part of its supervisory mechanism, annual assessments of customer service and grievance redressal in banks based on the data and information available t
  • SJVNL gets another mega hydropower project in Nepal
    Shimla, January 30 (IANS): Public sector Satluj Jal Vidyut Nigam Ltd (SJVNL) on Saturday said it was awarded another mega hydropower project in Nepal through international bidding, including Chinese companies. SJVNL Chairman and Managing Director Nand Lal Sharma said that the Nepalese government has allotted 679 MW Lower Arun Hydro Electric Project located in the Sankhuwasabha and Bhojpur districts. It will generate 3,561 million units per annum. The Investment Board of Nepal at
  • Hike in fuel prices hit pause for 3rd day
    New Delhi, January 30 (IANS): Pause on price hike of petrol and diesel continued on Saturday for the third day in a row after rising consecutively on Tuesday and Wednesday increasing pump prices for both auto fuels by 60 paisa per litre in Delhi. With price on hold, petrol continued to be available at new record high of Rs 86.30 a litre in Delhi while diesel was at Rs 76.48 per litre. Across the country as well the fuel prices remained at Wednesday's level. In Mumbai, petrol
  • Tata Motors launches limited-edition Tiago
    Mumbai, January 30 (IANS): Automobile manufacturer Tata Motors on Saturday launched limited edition of its hatchback Tiago at Rs 5.79 lakh (ex-showroom Delhi). As per the company, the launch commemorates the first anniversary of 'Tiago Refresh' and its success in the hatchback market. Besides, the company informed that 'Tiago Limited Edition' will be available in manual transmission. "Since its launch in 2016, the Tiago has been very successful in its segm
  • Thanks to lockdown, India's FY22 GDP to grow over 11%: EcoSurvey
    New Delhi, January 29 (IANS): The Indian economy is witnessing a 'V' shaped recovery due to a timely and stringent lockdown, and is expected to grow at over 11 per cent in the next fiscal. According to the Economic Survey 2020-21, which was presented in the Parliament on Friday by Union Finance Minister Nirmala Sitharaman, in contrast, the current fiscal will sustain the Covid-19 induced economic damage which is estimated to contract the GDP by 7.7 per cent. The survey do
  • IRCTC to restart 2 Tejas Express trains from Feb 14
    New Delhi, January 29 (IANS): The two Tejas Express trains -- New Delhi-Lucknow and the Mumbai-Ahmedabad -- operated by the Indian Railway Catering and Tourism Corporation (IRCTC) will again run from February 14, almost 10 months after suspending the service in the wake of the Covid pandemic. The IRCTC, in a statement, said that it is all set to restart the operation of its fleet of the first corporate Train, Tejas Express, to cater to the growing passenger demand. "Both the
  • Apple rules festive quarter as global shipments grow in Q4: IDC
    New Delhi, January 28 (IANS): Vendors shipped a total of 385.9 million devices during the festive quarter as the worldwide smartphone market continued to improve, returning to positive 4.3 per cent (on-year) growth, an IDC report said on Thursday. Apple delivered a phenomenal performance in the December quarter, returning to the top position with 90.1 million devices shipped, driven by the success of the iPhone 12 series, according to preliminary data from the IDC's ‘World