More From Economy

HDFC Bank shares fall over 2 pc after RBI asks firm to halt launch of new digital initiatives

Shares of HDFC Bank declined over 2 per cent on Thursday after the company said the Reserve Bank of India has asked it to temporarily stop all launches of its upcoming banking initiatives and issuing of new credit cards.

NCLT gives nod to Reliance Infratel resolution plan; lenders may get around Rs 4,400 crore

​The National Company Law Tribunal on Thursday approved a resolution plan of Reliance Infratel following which lenders may get around Rs 4,400 crore and Reliance Jio may pick up the assets of the debt-ridden telecom infrastructure company, according to sources.

RBI asks HDFC Bank to stop digital activities, sourcing new credit card customers

HDFC Bank said the RBI order “has advised the bank to temporarily stop all launches of the digital business-generating activities planned under its program Digital 2.0 and other proposed business generating IT applications and sourcing of new credit card customers.”

Fuel prices hiked for second day: Petrol nears Rs 90/litre in Mumbai, Check revised rates

Oil marketing companies on Thursday hiked the prices of petrol and diesel for the second consecutive day after a two-day pause. Petrol and diesel prices were hiked by around 20 paise across the metros.

Sensex rallies over 300 points to scale fresh intra-day peak; Nifty tops 13,200

Equity benchmark Sensex rallied over 300 points in early trade to hit its fresh intra-day record on Thursday tracking gains in index majors HDFC Bank, Reliance Industries and Maruti amid largely positive cues from global markets.

Competitive pricing! China imports rice from India after 2 years amid border tension

China has started importing Indian rice after a gap of two years and placed orders for shipment of about 5,000 tonnes of non-basmati rice due to competitive prices offered by India compared to other nations, according to the All India Rice Exporters Association (AIREA).

Potato price set to ease below Rs 40 in a few days

Prices of potato that had skyrocketted in the past few months and is now near Rs 50 per kg is set to cool below Rs 40 per kg in West Bengal over thenext few days, an official of a cold storage association in the state said Wednesday. 

Conditions will improve for Indian corporates in 2021 as economic activity gathers pace: Moody's

Conditions will improve for Indian corporates next year as economic activity picks up steam post-lockdown and earnings grow on the back of widespread demand revival across sectors, Moody's Investors Service said on Wednesday.  

Gold Price Today: Gold rises Rs 675; silver jumps Rs 1,280

Gold prices rose by Rs 675 to Rs 48,169 per 10 gram in the national capital on Wednesday reflecting gains in global precious metal prices, according to HDFC Securities.

Burger King India IPO gets oversubscribed

The initial public offering of Burger King India got oversubscribed within a few hours of opening for subscription on Wednesday. The IPO, which will close on Friday, was subscribed 1.84 times.

RBI's MPC starts deliberation on policy rate, will announce monetary policy review on Dec 4

Brickwork Ratings(BWR) in a report said that given the continued contraction of the economy, MPC is likely to continue with its accommodative monetary policy stance to manage financial stability and support growth recovery.

Infosys, Rolls-Royce ink strategic partnership for aerospace engineering in India

Indian IT services firm Infosys and Rolls-Royce, an aerospace and defence technology major, on Wednesday announced signing a strategic partnership for sourcing engineering and R&D Services for the latter''s Civil Aerospace business. As part of the overall partnership, Rolls-Royce will "transition a significant part of its engineering centre capabilities for civil aerospace in Bengaluru to Infosys", a statement said.

Lucknow Municipal Corp bonds listed on BSE as CM Yogi rings the bell

Uttar Pradesh Chief Minister Yogi Adityanath on Wednesday attended the listing ceremony of the Lucknow Municipal Corporation (LMC) bond, the first such listing from the entire northern region, on the Bombay Stock Exchange (BSE) in Mumbai.

Conditions to improve for Indian corporates in 2021: Moody's

In its 2021 outlook for rated Indian non-financial corporates, Moody's cited earnings growth on the back of widespread demand revival across sectors as the reason for giving a 'stable outlook' for Indian corporates in 2021.

Swedish furniture giant IKEA to open its biggest outlet in Noida

Swedish firm IKEA, which is one of the world's largest companies that make furniture and home applications, will be opening about a dozen stores across Uttar Pradesh. Hoping to generate employment opportunities to at least 50,000 people in the state, the company is set to open country’s largest outlet in Noida within a few weeks.

Sensex drops by 60 points in early trade on profit booking; Nifty slips below 13,100

Among gainers, Tata Steel rose the most by 1.49 per cent, Titan by 1.41 per cent and Asian Paints by 1.29 per cent. Auto, FMCG and Infra stocks were trading in the positive territory with L&T rising by 1.23 per cent.

Burger King India IPO opens today: Price band, subscription - all you need to know

Burger King India had undertaken a pre-IPO placement, by way of rights issue of Rs 58.08 crore at a price of Rs 44 per share to promoter and preferential allotment of Rs 91.92 crore at a price of Rs 58.50 per share.

Luxor Group diversifies into Home and Hygiene products

India’s biggest writing instrument major Luxor Group on Tuesday announced its foray into the personal and home hygiene segment with a host of nanotechnology-based products under the Luxor Nano range. 

This multi-national company to experiment 4-day work week for employees with no pay cuts

A multi-national company in New Zealand is going to start 4-day work week for employees with no pay cuts. The trial will be a year long experience, said Unilever New Zealand, adding all 81 employees will be eligible to participate beginning this month. The company may also consider it adopting globally.

Flipkart narrows loss to Rs 3,150.6 crore in FY20

Tata Group-Coffee Day beverage vending machine business deal hits hurdle: What we know

The Tata group is facing a roadblock to buy a Cafe Coffee Day unit, one of India's most popular coffee chains, beverage vending machine business after two big lenders to the Coffee Day Group has objected to the deal.

SpiceJet to commence 20 new domestic flights

Airline major SpiceJet plans to launch 20 new flights on its domestic network in a phased manner from December 5, the company said on Tuesday. 

Sensex surges 506 points to new closing high; Nifty tops 13,100

Equity benchmark Sensex rallied 506 points to close at a fresh lifetime high on Tuesday, backed by gains in IT and finance stocks amid persistent foreign capital inflows.  

Shapoorji Pallonji's platform Joyville to invest Rs 700 crore on new housing project in Pune

​Business conglomerate Shapoorji Pallonji's mid-income housing platform Joyville on Tuesday announced development of a new housing project in Pune, comprising over 1,100 flats, as part of its strategy to expand presence in major property markets.    

GST revenue tops Rs 1 lakh cr-mark second time since April, November collection at Rs 1.04 lakh cr

Revenue from Goods and Services Tax in November is the second straight month in the current fiscal when GST revenue has topped Rs 1 lakh crore.

India's manufacturing PMI slips to 3-month low in November

The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) fell from 58.9 in October to a three-month low of 56.3 in November, indicating that the manufacturing sector growth remained strong, despite losing traction.

Sensex rises over 120 points in early trade; Nifty tops 13,000

In the previous session, Sensex ended 110.02 points or 0.25 per cent lower at 44,149.72, and NSE Nifty slipped 18.05 points or 0.14 per cent to 12,968.95.

Commercial LPG price hiked by Rs 54 per cylinder in Delhi

There has been no change in the price of a domestic non-subsidised LPG cylinder of 14.2 kg. According to the website of Indian Oil, a domestic cooking gas in Delhi costs Rs 594