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BusinessToday.in
New Delhi, August 17, 2018
Why Indians should be grateful to Atal Bihari VajpayeeAs the nation mourns the loss of former Prime Minister Atal Bihari Vajpayee, it's also time to remember all that he did for India's economy. He started the 'Sarva Shiksha Abhiyaan' with the aim to provide education for all. He made India a nuclear state. Pokhran 2 was conducted during his tenure. He laid the foundation of the Golden Quadrilateral in 1999 for smoother movements of products and people. He's also considered the architect of the telecommunication sector in the country. He established a separate disinvestment ministry. He passed the Chandrayan-1 project.Health insurance to now cover mental illness says IRDAIIn a pathbreaking move, 3 months after  the Mental Healthcare Act, 2017 came into force, the Indian insurance regulator IRDAI has notified insurers to cover medical treatment for mental illnesses. The notice issued on Aug. 16, said that, \"every insurer shall make provision for medical insurance for treatment of mental illness on the same basis as is available for treatment of physical illness.\" The order is applicable on all insurance companies in India with immediate effect. The Mental Healthcare Act, 2017, which came into effect on May 29, is aimed at protecting the rights of persons with mental illnesses during delivery of mental healthcare and services.UPI gets an upgrade with new featuresNational Payments Corporation of India (NPCI) has launched UPI 2.0 in Mumbai as an upgrade to the first iteration of Unified Payments Interface (UPI) that debuted in April 2016. The new UPI version has features such as UPI Mandate and Invoice in the Inbox. There are also new security enhancements including Signed Intent and QR that are designed to let customers verify merchants before making any payments as reported by NDTV. Further, there is an option to attach UPI to an overdraft (OD) account. This comes in addition to the existing saving and current account support. Banks that are using the upgrade include State Bank of India (SBI), HDFC Bank, Axis Bank, ICICI Bank, IDBI Bank, RBL Bank, Yes Bank, Kotak Mahindra Bank, IndusInd Bank, Federal Bank, and HSBC.Mercedes-Benz to hike prices by up to 4% next monthGerman luxury carmaker Mercedes-Benz said it will hike prices of its vehicles across models by up to 4 per cent from September to offset adverse impacts of rising input costs and upward forex movement. The rising inflation due to geo-political dynamics, coupled with rising input costs and increasing forex rates has been exerting significant pressure on overall operations, Mercedes-Benz India said in a statement.Airlines advised to keep air fares in check for Kerala flightsThe Central government has asked domestic airlines to keep a check on air fares for flights operating to and from Kerala.The advisory comes as the state suffers from one of the worst bouts of floods in the recent past.According to the Ministry of Civil Aviation, airfare on 18 domestic routes are being monitored. The monsoon fury has hit different parts of Western Ghats including districts of Kerala and adjoining areas in Karnataka.Plunging rupee to increase India's oil import bill by $26 billionIndia's crude oil import bill is likely to surge by about $26 billion in 2018-19 as rupee falling to a record low has made buying of oil from overseas costlier, government officials said yesterday as reported by Mint. The Indian rupee opened at 70.25 and plunged to a fresh record low of 70.40 a dollar. Moreover, the weak rupee will also lead to a hike in the retail selling price of petrol, diesel and cooking gas (LPG).


PTI
August 16, 2018
RBI Governor Urjit Patel today unveiled UPI version 2.0 which will allow customers to use overdraft limit for making payments for merchants.


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 15, 2018
Modi says India is now the land of reform, perform and transformPrime minister Narendra Modi delivered his fifth Independence Day Speech as PM. Running parallel to the  Ayushman Bharat-National Health Protection Scheme would be the Jan Aarogya Abhiyan which would kick off on September 25, he announced. The healthcare schemes will ensure access to good quality healthcare for the poor and marginalised. Modi also said India used to be a 'sleeping elephant', but has started walking and running now'. He announced a manned mission to space by 2022. He also thanked the business community for the success of GST.Rupee has fallen due to external factors, nothing to worry says govtThe rupee fell to a record low of 70 against the dollar on Tuesday amid fears that the financial troubles faced by Turkey may spread to other emerging economies. The rupee ended trading on Tuesday at 69.89 per dollar.Attributing the fall in rupee value against the US dollar to 'external factors', economic affairs secretary Subhash Chandra Garg said that there was nothing to worry about as long as the depreciation was in line with other currencies.Rupee has given 'vote of no confidence' to Modi by crashing to historic low, says RahulWith rupee touching a fresh all-time low of 70.08 against dollar , Congress President Rahul Gandhi turned the heat on the Narendra Modi government over its failure to control the declining rupee. The Indian currency has seen nearly 10 per cent fall this year alone. Taking a jibe at Prime Minister's remarks of \"70-year misrule\" of various parties, including the Congress, the party said \"Modiji finally managed to do something that we couldn't do in 70 years\".RBI rejects Kotak Bank's promoter stake dilution plan, says it does not meet normsDays after private lender Kotak Mahindra Bank said it had used the preference share allotment route to reduce promoter Uday Kotak's shareholding in the bank, the RBI rejected it saying \"it does not meet their promoter holding dilution requirement\". In a regulatory filing on Tuesday, Kotak Mahindra Bank said it still believes that the bank's stake dilution plan meets the requirement, and assured to continue engaging with the central bank over the issue.India's richest women: Smitha Crishna, Roshni Nadar top listA survey, prepared by Kotak Wealth-Hurun, features Smitha Crishna, the third generation heir of the Godrej empire, as the wealthiest Indian woman with net worth of Rs 37,570 crore. The total wealth of each woman featured in the top 100 women exceeds Rs 1,000 crore, while their average income is around Rs 4,000 crore. Kiran Mazumdar-Shaw is the only richest self-made women -- with the total wealth of Rs 24,790 crore - who could make it to the top 100. Following Smitha is HCL CEO and Executive Director Roshni Nadar, whose net worth is around Rs 30,200 crore. 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.Twitter launches Twitter LiteMicro-blogging platform Twitter has launched Twitter Lite Android app in 21 more countries, including India, that will minimize data usage. It will load quickly on slower networks and take up less space on a mobile device. It's on the same lines as Facebook Lite and Youtube Go. The app, built for 2G and 3G networks which are still in use in several parts of India, helps a user save on data while using it.Reliance Jio's broadband service GigaFiber registrations to start todayRegistrations for Jio GigaFiber high-speed broadband are now officially open, allowing you to show your interest in the service. Jio GigaFiber was announced last month at the company's 41st Annual General Meeting, and will provide speeds to 1Gbps, according to the company. The company will give priority to areas with the highest interest for the rollout. The Jio broadband service was being tested out for the past two years.Cash-strapped Fortis Healthcare sees signs of improvementCash-strapped Indian hospital operator Fortis Healthcare Ltd said it was starting to see some signs of recovery, as it secured shareholder approval for its takeover by Malaysia's IHH Healthcare Bhd. Fortis which operates 30 private hospitals in India has been struggling with a cash crunch, rising debt and other problems. IHH will invest 40 billion rupees at 170 rupees per share in Fortis.


BusinessToday.In
New Delhi, August 14, 2018
Kotak Mahindra Bank says it still believes that the bank's stake dilution plan meets the RBI requirement, and assured to continue engaging with the central bank over the issue.


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 9, 2018
Sameet Chavan, Chief Analyst, Technical and Derivative, Angel Broking, takes viewers through all the market action today. The Sensex rose 137 points to close above the 38,000-mark for the first time, while the broader Nifty too ended at a fresh lifetime high on unabated buying by participants.


BusinessToday.In
August 9, 2018
The Sensex rose 137 points to close above the 38,000-mark for the first time, while the broader Nifty too ended at a fresh lifetime high on unabated buying by participants.While, the Sensex closed at 38,024.37, breaking its previous record close of 37,887 reached yesterday, Nifty rose 20 points to close at 11,470-- surpassing its previous high of 11,450 level.ICICI Bank was the top Sensex gainer, surging 4.64 per cent, followed by Axis Bank at 3.86 per cent and SBI 2.53 per cent.The index has taken 11 sessions to scale the 38,000 mark from 37,000 level reached on July 26.Banking stocks led the rally with the BSE bankex rising 415 points or 1.32% to 32,003 level. Bank Nifty too rose 0.92% to 28,320 level. Bharti Airtel (4.64%), ONGC (1.75%) and Kotak Mahindra Bank (0.98%) were the top Sensex losers. On a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 568.63 crore, while domestic institutional investors (DIIs) bought equities to the tune of Rs 30.25 crore yesterday, provisional data showed.


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.


BusinessToday.In
New Delhi, August 3, 2018
On Wednesday, Kotak Mahindra Bank also raised its one-month and three-month MCLR, or marginal cost of lending rate, by 5 basis points to 8.20 per cent and 8.55 per cent, respectively.


BusinessToday.In
August 3, 2018
The Sensex and Nifty reversed losses in trade today and rose to record highs powered by banking and consumer durables stocks.While the Sensex closed 391 points or 1.05% higher at 37,556, Nifty gained 1.03% or 116 points to close at 11,360.Indices hit fresh lifetime highs as investors accumulated the recently battered banking, auto and realty counters.The BSE bankex rose 502 points to 31079 level.  The  consumer durables goods index rose 320 points to 21,372 level.Bank Nifty too witnessed huge buying activity with the index closing 1.24% or 339 points higher at 27,695 level.The 30-share Sensex stayed in the green throughout the session and hit the day's high of 37,582 on a flurry of buying.  This is its biggest single-session gain since May 31, when it had surged 416.27 points.The index had lost 441 points in the previous two sessions after the RBI hiked the policy rate, making loans costlier for consumers, amid an escalation in the Sino-US trade conflict.Meanwhile, the Nifty surpassed its previous closing high of 11,356 hit on July 31.The BSE midcap and small cap indices rose 149.29 and 193 points respectively.In comparison, the BSE largecap index rose just 0.91 percent or 39.78 points.Top Sensex gainers were Axis Bank (5.17%), Vedanta Ltd (3.60%), YES Bank (2.96%), ICICI Bank (2.33%) and Kotak Mahindra Bank (2.20%).


BusinessToday.In
August 3, 2018
Indices hit fresh lifetime highs as investors accumulated the recently battered banking, auto and realty counters. The BSE bankex rose 502 points to 31079 level.  The  consumer durables goods index rose 320 points to 21,372 level. Bank Nifty too witnessed huge buying activity with the index closing 1.24% or 339 points higher at 27,695 level.


BusinessToday.In
July 31, 2018
The country's largest lender, the State Bank of India (SBI), yesterday hiked interest rates on fixed deposits of various tenures.


BusinessToday.In
July 27, 2018
Q1 earnings of the firm took the stock to fresh 52-week high level of 307 level in trade today. ITC on Thursday reported a 10% rise in standalone net profit at Rs 2,818.68 crore for the first quarter ended June 30, 2018, aided by lower expenses, good growth in agri-business and other FMCG business despite decline in cigarettes sales.


BusinessToday.In
July 27, 2018
At 10:24 am, the Sensex was trading 320 points higher at 37, 305 level and the Nifty stood at 11,247, up 80 points. The BSE metal index rose to a record level of 12,497 points, up 219 points.


BusinessToday.in
New Delhi, July 19, 2018
Sameet Chavan, Chief Analyst, Technical and Derivatives, Angel Broking, takes viewers through all the market action today. Erasing early gains, the Sensex closed lower by 22 points at 36,351 in range-bound trade amid lower-than-expected results. The Nifty too fell 23 points to 10,957 level. Investors were not in a mood to make fresh bets ahead of the voting on the no-confidence motion against the NDA government tabled in the Lok Sabha, brokers said.


BusinessToday.In
July 19, 2018
Erasing early gains, the Sensex closed lower by 22 points at 36,351  in range-bound trade amid lower-than-expected results.The Nifty too fell 23 points to 10,957 level.Investors were not in a mood to make fresh bets ahead of the voting on the no-confidence motion against the NDA government tabled in the Lok Sabha, brokers said.A depreciating rupee, which again breached the 69-mark against the dollar in intra-day trade, too weighed on sentiment, they added.Kotak Mahindra Bank was the top Sensex loser falling 3.69% or 51.80 points after the private sector lender reported a rise in provisions for bad loans doubled to Rs 469.63 crore in Q1.  The bank reported 12.29 per cent rise in standalone net profit at Rs 1,024 crore for June quarter.L&T (2.61%), Hero MotoCorp (1.22%) and Tata Steel (0.98%) were the other major Sensex losers.Market breadth was negative with 827 stocks closing higher compared with 1754 ending lower on BSE.Meanwhile, domestic institutional investors bought shares worth Rs 111  crore, while foreign portfolio investors bought shares worth Rs 95.68 crore yesterday, provisional data showed.


BusinessToday.In
July 17, 2018
The IPO will open for subscription of anchor investors on Tuesday, July 24, 2018. The minimum bid lot for the IPO has been fixed at 13 equity shares and applications may be made in multiples of 13 equity shares thereafter.


BusinessToday.In
July 13, 2018
The Sensex hit a fresh life-time high of 36,740 in trade today compared to 36,699 level which the index touched in intra day trade yesterday. The Nifty was trading nearly 100 points lower from its all time high of 11,171 level reached on January 29, 2018.


BusinessToday.In
July 7, 2018
The RBI had in April directed all the banks to stop dealing with individuals and businesses dealing in virtual currencies in next three months - the deadline ended on July 5.


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