Business
April passenger cars sales down 20% April passenger cars sales down 20%

 

New Delhi, Passenger cars' sales declined 19.93 per cent in April as low demand along with high interest cost continued to dent purchases.

According to the Society of Indian Automobile Manufacturers (SIAM), passenger cars sales in the domestic market dropped to 160,279 units from 200,183 units sold during April 2018.

Market to stay volatile but with an upward bias Market to stay volatile but with an upward bias


Markets were on a correction mode and lost in all five trading sessions during the week. They have now lost for eight straight sessions and appear to have completed their correction for the time being. BSESENSEX was down 1,500.27 points or 3.85 per cent at 37,462.99 points while NIFTY lost 433.35 points or 3.70 per cent to close at 11,278.90 

Mukesh Ambani breaking all barriers to connect next billion Mukesh Ambani breaking all barriers to connect next billion


New Delhi, As Asia gears up for the next wave of digital transformation to connect the next billion people online, infrastructural and affordability barriers are being broken in India by Reliance Industries Chairman and Managing Director Mukesh Ambani and his initiatives, a new survey said on Friday.

Mudra loans may cross Rs 3 lakh cr in 2019-20 Mudra loans may cross Rs 3 lakh cr in 2019-20



New Delhi, Total sanctions under the Pradhan Mantri Mudra Yojana (PMMY) loan scheme for micro industries are likely to cross Rs 3 lakh crore in the current fiscal, a senior Finance Ministry source said on Thursday.

Government data for the scheme for the last fiscal, till March 22, 2019, put the figure of Mudra sanctions at Rs 2.82 lakh crore to 541.27 lakh borrowers.

Sensex ends below 39k, India VIX 5% up Sensex ends below 39k, India VIX 5% up

 

Mumbai, Sensex closed below the 39,000 mark on Thursday, marked by heavy volatility in specific stocks. The fear-index or the 'VIX' surged over 5 per cent.

Analysts said the volatility was also high owing to the mixed quarter earnings and tepid auto sales.

Sensex ended 50.12 points or 0.13 per cent lower at 38,981.4 and the Nifty finished -23.40 points or 0.20 per cent lower at 11,724.75.

Mahindra Group, Ford to co-develop midsize SUV Mahindra Group, Ford to co-develop midsize SUV


Mumbai Mahindra Group and Ford Motor Company have entered into a definitive agreement to co-develop a midsize sports utility vehicle (SUV).

According to a joint statement issued on Thursday, under the new agreement, Mahindra and Ford will work together to introduce a benchmark product for India and emerging markets.

We will send you to jail: SC to Ranbaxy brothers We will send you to jail: SC to Ranbaxy brothers

 

New Delhi, The Supreme Court on Friday threatened to jail Malvinder Mohan Singh and his brother Shivinder Mohan Singh, former promoters of pharmaceutical company Ranbaxy, for not complying with an order to pay dues to Japanese firm Daiichi Sankyo.

"We will go into the issue - why you violated our orders. We will send you to jail," the apex court said.

The court was hearing a petition filed by Daiichi Sankyo, which is seeking to recover Rs 3,500 crore awarded to it in an arbitration by a Singapore tribunal against the Ranbaxy brothers.

Banks, others may lose over Rs 90,000 crore as Videocon sinks Banks, others may lose over Rs 90,000 crore as Videocon sinks



Mumbai The beleaguered Videocon Group has admitted to stupendous outstandings to various lenders - public and private - amounting to over Rs 90,000 crore, making it perhaps the biggest corporate bankruptcy case in Indian banking history, official sources said on Thursday.

The two main group companies - Videocon Industries Ltd (VIL) and Videocon Telecommunication Ltd. (VTL) - owe Rs.59,451.87 crore and Rs.26,673.81 crore, respectively or a staggering Rs.86,125.68 crore to Indian banks, led by the State Bank of India (SBI).

Jet pilots defer mass leave decision to April 15 Jet pilots defer mass leave decision to April 15

 

New Delhi, The pilots' union of Jet Airways on Sunday postponed, till April 15, their decision to go on mass leave to protest non-payment of salaries.

The decision comes after Jet Airways on Saturday said it will soon pay the remaining December salaries to employees.

Verka Launches Premium Ice Creams, Amour Verka Launches Premium Ice Creams, Amour


Chandigarh Verka Punjab’s iconic dairy brand launched its new Ice Cream range under sub brand name “Amour” with a tag line “One True Love” hereby expanding its product portfolio and strengthening it further. 
Every Verka product has been a crowd pleaser and the brand has been a frontrunner when it comes to innovation and bringing new and best quality to consumers, taking this legacy forward the new range of ice cream will bring for the consumer a taste they’ll never have enough of.

Ambrane announces Moon Shaped, Portable Bluetooth Speaker ‘BT 2900’, Ambrane announces Moon Shaped, Portable Bluetooth Speaker ‘BT 2900’,


Ambrane India one of the leading brand in Mobile Accessories and no.1 in Power Banks, strengthens its Audio Portfolio with Bluetooth Wireless Speaker ‘BT 2900’ that comes in Premium Metal Finish Bottom with the very unique stylish moon shaped design. 

RCOM stocks jump 10% after it pays dues to Ericsson RCOM stocks jump 10% after it pays dues to Ericsson



Mumbai, Shares of Anil Dhirubhai Ambani-led Reliance Communication (RCOM) settled 10 per cent higher on Tuesday after it paid the due amount of Rs 580 crore to Ericsson on Monday.

Reliance Communication closed at Rs 4.40 per share, up 10 per cent from its previous close.

FIIs bullish, buzz points to stability ahead FIIs bullish, buzz points to stability ahead


Markets were on a roll in the last week and gained on all five days even though Thursday's gains could be termed as flat. BSE SENSEX gained 1,352.89 points or 3.69% to close at 38,024.32 points. NIFTY gained 391.45 points or 3.55% to close at 11,426.85 points. BSE MIDCAP was up 2.48% while BSESMALLCAP was up 2.12%. These two that led the rally three weeks ago have slowed down, but have certainly not lost the momentum. There have been changes in the groups and under the ‘ASM advanced surveillance mechanism, margins on big gainers has increased manifold reducing the activity in those counters.

India grounds B737s, US won't ground them India grounds B737s, US won't ground them

 

New Delhi India grounded all Boeing 737 MAX aircraft on Wednesday evening, affecting hundreds in airports, but the US aviation regulator questioned the global grounding of the fleet after an Ethiopian Airlines crash.

"No B737 Max aircraft will be allowed to enter or transit the Indian airspace effective 1600 hours," the Ministry of Civil Aviation tweeted.

Sensex surges 340 points over easing US-China trade tension FIIs pull out Rs 3,000 cr in 3 days post Pulwama attack but DIIs maintain support Airtel tops in download speed during December-January: Report Israeli airline to launch two non-stop India routes Mumbai-Dehradun Jet flight diverted to Chandigarh for technical reason Sensex tanks 425 points, Nifty below 11,000 Last hour rebound lift equity indices, Sensex ends 113 pts up Ravneet Singh Gill to be Yes Bank MD, CEO China's economic growth rate slowest since 1990 Reliance Jio Q3 standalone net profit up 65% Wave Estate invests Rs 200 cr to bring affordable housing in Mohali After India, Musk finds fault with Singapore Sensex, Nifty open flat; financials in red US stocks close mixed as volatility continues; dollar retreats 5G-enabled, foldable smartphones became a reality India needs solid digital strategy to succeed in data age: Seagate NSE gets SEBI nod for weekly options trading Sensex extends 5th straight session's gains, up 250 points Sensex jumps 629 points, Nifty settles above 10,700 Sensex tanks 572 points over oil output cut fears, weak rupee China agrees to reduce tariffs on US cars: Trump Petrol pumps bonanza: Angry dealers to move court 190 countries to participate in Expo 2020 Dubai Sensex continues its losing streak, falls 800 points in three days 50% ATMs in India may shut down by March: CATMi Swiggy to engage 2,000 women for food delivery Sensex jumps 760 points to reclaim 34,000-mark GST likely to have 3-rate structure in future: Bibek Debroy Sensex down 300 points over weak macro, negative global cues Tesla launches new 'Model 3' with mid-range battery