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BusinessToday.in
New Delhi, August 16, 2018
Sameet Chavan, Chief Analyst, Technical and Derivative at Angel Broking, takes viewers through all the market action today. The Sensex fell over 188 points to close at 37,663, tracking weak global cues on concerns over Turkey's financial crisis amid sustained foreign fund outflows. The rupee stoked more worries, slumping to an all-time low of 70.40 per dollar (intra-day). Sentiment took a hit after the country's trade deficit soared to a near five-year high of $18 billion in July. The trade data was released by the Commerce Ministry on Tuesday after market hours.


BusinessToday.In
August 16, 2018
The Sensex fell over 188 points to close at 37,663, tracking weak global cues on concerns over Turkey's financial crisis amid sustained foreign fund outflows. The rupee stoked more worries, slumping to an all-time low of 70.40 per dollar (intra-day).Sentiment took a hit after the country's trade deficit soared to a near five-year high of $18 billion in July. The trade data was released by the Commerce Ministry on Tuesday after market hours.After opening lower at 37,796, the 30-share Sensex slipped further to touch a low of 37,634, but a rally in Infosys, Sun Pharma and Tata Motors helped it to recover. The NSE Nifty traded in the red for the major part of the session and fell below the 11,400-mark to hit a low of 11,366.25. It later recovered a bit to finish at 11,385, showing a loss of 50 points, or 0.44 per cent.Top Sensex gainers were Sun Pharma (2.98%), Bharti Airtel (1.51%) and Infosys (1.17%).Top Sensex losers were  Kotak Mahindra Bank (3.62%), Vedanta (3.05%) and HDFC (2.61%).Weak leads from other Asian bourses following Turkey's currency crisis and fears of an economic slowdown in China affected sentiment on Dalal Street, brokers said.


BusinessToday.In
New Delhi, August 14, 2018
Kiran Mazumdar-Shaw is the only self-made women -- with the total wealth of Rs 24,790 crore - who could make it to the top 100. On the third spot is Indu Jain of Bennett Coleman and Co Group, whose total wealth is estimated to be around Rs 26,240 crore.


BusinessToday.in
New Delhi, August 14, 2018
Retail inflation slows down to 9-month low level in JulyRetail inflation plunged to a 9-month low of 4.17 per cent in July as vegetable prices fell, strengthening views that the RBI will keep interest rates on hold at its review in October after raising them for a second straight meeting on August 1. The RBI has raised the key repo rate by 0.25 per cent each on inflationary concerns. The next bi-monthly policy is to be unveiled on October 5. Ease of Living Index: Pune ranks first in 'liveability', Delhi languishes at 65The Ease of Living Index 2018 released by Union Minister Hardeep Singh Puri on Monday has thrown surprises, with few most prominent cities failing to make a cut in the top 10. Of total 111 cities ranked under the index, Pune has been ranked first while Navi Mumbai has surfaced as the second preferred spot in terms of 'liveability'. However, the national capital Delhi has failed to make it to the top 50, ranking much below cities like Vijayawada and Bhopal at number 65. Chennai was also ranked at number 14, while Kolkata refused to participate in the survey.PNB scam: Govt dismisses Usha Ananthasubramanian from service, gives CBI permission to prosecuteNearly three months after Allahabad Bank divested its MD & CEO Usha Ananthasubramanian from all functional responsibilities, the government today dismissed her from service, according to an official notification. Ananthasubramanian is the former CEO & managing director of scam hit Punjab National Bank. Ananthasubramanian was named in a CBI charge-sheet in the Rs 14,000 crore PNB fraud case but had continued to be an employee of the bank. She was to superannuate today but has been dismissed from the service. The government has also given permission to the CBI to prosecute Ananthasubramanian and Sanjiv Sharan, former executive director of the PNBNew road to cut travel time between Delhi and Gurugram, likely to open by DiwaliThe commuters from Delhi to Gurugram will soon have a new road that will bring down congestion and cut short the travel time. The new road will offer a shorter route for commuters from Dwarka, Najafgar and west Delhi to Gurugram.The new route will connect to Najafgarh-Bijwasan road and is part of Gurugram's Masterplan 2031.Infosys to invest Rs 100 cr in software development centre in Kolkata, create 1,000 jobsIndia's second largest software services firm Infosys has said it will set up a new software development centre in Kolkata with an investment of Rs 100 crore.The centre is expected to provide employment to about 1,000 engineers.The first phase of the project will be completed within 15 months from the date of obtaining all statutory clearances.India's forex reserve is in a \"comfortable range\", says a DBS report. India's forex reserve is in a \"comfortable range\" and another 5-8 per cent fall will not jeopardise the situation, says a DBS report. According to the global financial services major, a challenging global environment has compelled RBI to intervene aggressively this year to contain rupee depreciation, resulting in significant drawdown in foreign reserves. Jet Airways to evaluate funding options to meet liquidity needsIndian carrier Jet Airways has said it is considering various options on priority to meet its funding requirements, reaffirming that its revenue-boosting and cost-cutting measures have started to show results. In a report by Reuters, Jet however ruled out a potential stake sale or plans to monetise its investment in its frequent flier programme, calling media reports on the subject \"purely speculative\".No more queues at CNG pumps! IGL to open 50 more stations in Delhi-NCRIn what might come as a big relief to CNG car owners, Indraprastha Gas Limited (IGL) is planning to come up with 50 more CNG pumps across Delhi-NCR. This is likely to be done by February 2019. As mentioned by an official, the new CNG stations are to come up across Delhi, Noida, Greater Noida, Rewari and Ghaziabad.


BusinessToday.In
August 13, 2018
The Sensex and Nifty closed lower for the second straight session in trade  today on negative global cues and weak rupee. While the Sensex fell 224 points or 0.59% to 37,644 level, Nifty closed 0.65% or 73 points lower at 11,355 level as global markets crashed amid fears that financial crisis in Turkey could spread to other economies. Meanwhile, the rupee hit an all-time low of 69.91 intra day tracking weakness in global currencies. Infosys (1.75%), Sun Pharma (1.65%) and Wipro (1.31%) were the top Sensex gainers. IT sector stocks were the top gainers today due to a fall in rupee. The BSE IT index rose the most among the 19 sectoral indices to close 1.24% or 182 points higher at 14,865 level. A fall in rupee translates to higher income for IT firms. IT companies earn most of their revenues in dollars. So, each dollar earned abroad will now get them more rupees.Banking and oil and gas indices on the BSE were the worst losers with BSE bankex falling 1.20% or 380 points to 31,368 level. The BSE oil and gas index too fell 1.93% or 290 points to close at 14,804. Vedanta (3.40%), SBI (3.17%) and YES Bank (3.11%) were the top Sensex losers. Market breadth was negative with 956 stocks closing higher compared to 1724 falling on the BSE.


BusinessToday.In
August 13, 2018
Meanwhile, the rupee hit an all-time low of 69.91 intra day tracking weakness in global currencies. Infosys (1.75%), Sun Pharma (1.65%) and Wipro (1.31%) were the top Sensex gainers. IT sector stocks were the top gainers today due to a fall in rupee.


Anand Adhikari
August 11, 2018
Paresh Sukthankar, the man who was seen as a natural successor to Aditya Puri, MD & CEO, abruptly resigned on Friday from the largest private bank in the country.


BusinessToday.In
August 9, 2018
At 9:56 am, the Sensex was trading 117 points higher at 38,004 level.  Meanwhile, the Nifty inched closer to the 11,500 level,  rising 45 points from its previous close. It hit all time high of 11,495 level.


BusinessToday.In
August 6, 2018
Major gainers include ICICI Bank, SBI, Yes Bank, Vedanta, Tata Steel, Adani Ports, Bharti Airtel, Axis Bank, Tata Motors, Infosys, Coal India, Hero Motocorp, Tata Motors, ONGC, RIL, M&M, Sun Pharma, Bajaj Auto, NTPC, TCS, ITC, L&T and Power Grid, rising up to 2.59 per cent.


Reuters
August 5, 2018
The policy will be the latest in a series of proposals that seek to spur data localisation in India, as the government finalises an overarching data protection law.


BusinessToday.In
New Delhi, August 3, 2018
Apple Inc became the first $1 trillion publicly listed U.S. company on Thursday, crowning a decade-long rise fueled by its ubiquitous iPhone; India plans to delay the imposition of retaliatory duties on U.S. goods, the trade ministry said on Thursday; Infosys' acquisition of US-based digital creative and consumer insights agency WongDoody Holding Company for $75 million could just be the beginning of many more deals in the pipeline; ONGC profit rises 58% in Q1 to Rs 61.4 bn on higher net realisation.


Karan Dhar
August 3, 2018
Apple sits on a cash pile of roughly $285 billion which is more than enough to buy India's two most valued companies - Mukesh Ambani-led Reliance Industries and Tata's crown jewel TCS.


BusinessToday.In
New Delhi, August 3, 2018
Apple becomes first publicly listed US firm to hit $1 trillion stock market valuationApple Inc became the first $1 trillion publicly listed U.S. company on Thursday, crowning a decade-long rise fueled by its ubiquitous iPhone. The iphone transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications. India likely to postpone raising tariffs on U.S. goodsIndia plans to delay the imposition of retaliatory duties on U.S. goods, the trade ministry said on Thursday, to allow time to resolve disputes that worsened after President Donald Trump imposed tariff hikes on steel and aluminium. Trade differences between India and the United States have been rising since Trump took office Infosys CEO Salil Parekh bets on company's robust balance sheet to plan big acquisitionsInfosys' acquisition of US-based digital creative and consumer insights agency WongDoody Holding Company for $75 million could just be the beginning of many more deals in the pipeline - the company reportedly sees acquisitions as a key element in the three-year roadmap laid out by CEO Salil Parekh.ONGC profit rises 58% in Q1 to Rs 61.4 bn on higher net realisationState-run Oil and Natural Gas Corporation, ONGC has posted a 58 per cent increase in net profit during the first quarter of the financial year 2018-19 to Rs 61.44 billion, compared to Rs 38.85 billion on the back of higher net realisation owing to rise in prices. The company's gross revenue for the period under review was seen 43 per cent up at Rs 272.13 billion.Reliance Jio, SBI Announce Digital Partnership For Banking, Payments And Commerce ServicesAfter the Jio Payments Bank became operational (a 70:30 JV between RIL and SBI) Jio and SBI are deepening their partnership for customers. They are trying to provide a seamless experience with exclusive digital Banking, Payments and Commerce journeys to their customers. Jio and SBI are entering into a digital partnership aimed to increase SBI's digital customer base. For the same, the companies have announced SBI YONO. SBI YONO is an omnichannel platform offering digital banking, commerce and financial superstore services to customers. YONO's digital banking features and solutions will be enabled through the MyJio platform HDFC hikes interest rates on home loans by 20 basis pointsHDFC has hiked interest rates on home loans by 20 basis points, a day after RBI raised the benchmark repo rate by 25 bps to 6.5%. As per the new rates, women borrowers can avail a home loan of upto Rs 30 lakh at 8.7% while other customers will be charged a rate of 8.75%. New rates are effective from 1st August. For loans above Rs 30 lakhs women borrowers will be charged at 8.80% while other borrowers will be charged a rate of 8.85%.


BusinessToday.In
August 2, 2018
Infosys' acquisition of US-based digital creative and consumer insights agency WongDoody Holding Company for $75 million could just be the beginning of many more deals in the pipeline.


BusinessToday.In
August 1, 2018
Reliance Industries, HUL, ITC,TCS, Infosys and other index heavyweights on Dalal Street have announced earnings which beat analysts estimates and led to a record rise in Sensex and Nifty.


BusinessToday.in
New Delhi, July 31, 2018
Ruchit Jain, Technical Analyst, Angel Broking, takes viewers through all the market action today. The market rebounded in last 30 minutes of trade to close at new life-time highs on late buying in Reliance Industries, HUL, Infosys and Hero MotoCorp stocks. Extending their record run for the seventh day in a row, the Sensex and Nifty hit their fresh all-time highs of 37,644 and 11,366, respectively. Later, the Sensex closed at 37,606, up 0.30% or 112 points. Nifty rose nearly 37 points or 0.33% to end at 11,356 level.


BusinessToday.In
July 31, 2018
The market rebounded in last 30 minutes of trade to close at new life-time highs on late buying in Reliance Industries, HUL, Infosys and Hero MotoCorp stocks.  Extending their record run for the seventh day in a row, the Sensex and Nifty hit their fresh all-time highs of 37,644 and 11,366, respectively. Later, the Sensex closed at 37,606, up 0.30% or 112 points. Nifty rose nearly 37 points or 0.33% to end at 11,356 level. A recovery in rupee, unabated buying by domestic institutional investors (DIIs) and encouraging earnings by blue-chips contributed to the uptrend, brokers said.Traders were cautious ahead of RBI's monetary policy outcome tomorrow.Of 30 Sensex stocks, 18 closed higher. Meanwhile, FIIs sold shares worth a net of Rs 234.04 crore on Monday, while DIIs bought shares worth a net of Rs 48.58 crore, provisional data showed.For the month, Sensex rose 6.16%, while the Nifty 50 advanced 5.99%. BSE MidCap and SmallCap rose 0.33% and 0.66%, respectively.Market breadth was positive with 1494 stocks closing higher compared with 1159 ending in the red on BSE. 155 stocks were unchanged.


BusinessToday.In
July 31, 2018
A recovery in rupee, unabated buying by domestic institutional investors (DIIs) and encouraging earnings by blue-chips contributed to the uptrend, brokers said.


Reuters
July 31, 2018
The RBI in April had said that payments firms such as Mastercard and Visa should within six months store data only in the country for \"unfettered supervisory access\". But US firms protested and the Finance Ministry has recommended relaxing the directive.


BusinessToday.In
July 30, 2018
Market benchmark BSE Sensex rose by 157 points to close at new life-time high of 37,494.40, continuing its record setting spree for the sixth session driven by gains in index majors such as Reliance Industries and Bharti Airtel.The broader NSE Nifty settled up 41.20 points, or 0.37 per cent, at a fresh record high of 11,319.55, bettering its previous all-time of 11,278.35 hit on Friday following better-than-expected earnings by corporates.While the Sensex touched 37,533, a fresh intra day high level, the Nifty breached the 11,300 level for the first time ever to reach an intra day high of 11,328.Shares of Reliance Industries rose 1.78 per cent to close at record Rs 1,149.70.Banking rally was led by Bank of Baroda whose stock hit a fresh 17-week high level of 152.70 after the public sector lender reported a more than two fold rise in Q1 net profit to Rs 528.26 crore. The stock closed 9.92% or 13 points higher at 151.75 on the BSE. Banking stocks led the rally with the BSE bankex rising to 31177 level intra day.Top Sensex gainers were Bharti Airtel, ICICI Bank, SBI, Axis Bank, Mahindra and Mahindra, Vedanta and HUL.Top Sensex losers were Infosys, HDFC Bank and L&T.The index closed 401 points or 1.30% higher at 31144 level.Bank Nifty too rose 0.75% or 208 points to 27,842 level. It hit a high of 27,873 intra day.Market breadth was positive with 1615 stocks closing higher compared with 1038 stocks falling on the BSE. 193 stocks were unchanged.


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