The market closed lower with losses in a highly volatile session today as investors booked profits ahead of US Federal Reserve's policy outcome.The Sensex swung nearly 581 points on alternate bouts of buying and selling.Investors were also cautious in view of the expiry of September derivative contracts on Thursday, brokers said.The Sensex touched a high of 36,938 at the outset after domestic investors pressed on with buying. However, it soon turned choppy and hit a low of 36,357. I...

Flipkart acquires Israel-based start-up Upstream CommerceFlipkart has acquired an Israel-based analytics start-up called Upstream Commerce, as it aims to support its massive seller base with services such as real-time pricing and information on product assortment, as reported by Mint. This is Flipkart's second acquisition in as many months and will enable Flipkart to have an outpost in Israel.Yes Bank board seeks extension for Rana KapoorYes Bank on Tuesday said it would ask the R...

Infosys bags $80.3 million contract from Canadian firmInfosys Public Services has announced that it has been awarded a computer-aided design contract worth $80.3 million by Public Services and Procurement Canada (PSPC) to modernise and automate their procurement processes, as reported by the Hindu. IPS is working with Ernst & Young and SAP Canada to digitise PSPC procurement system.Facebook ropes in former Hotstar executive Ajit Mohan as India MD & VPSocial media giant Fac...

The Sensex and Nifty closed nearly 1.5% lower in trade today amid a depreciating rupee, rising crude oil prices and selling pressure on stocks of non-banking financial companies (NBFCs).  On the global front, China reportedly rebuffed a plan for talks with the US on resolving their dispute over trade and technology which roiled Asian stocks.While the Sensex closed 536 points or 1.46% lower to 36,305, the Nifty lost 175 points or 1.58% to trade at 10,967 level.Sentiments remained distinct...

Dewan Housing Finance stock rises up to 24.80 per centThe Dewan Housing Finance stock made a partial recovery in early trade after statements from Dewan Housing management on the default possibility. Further statements from finance minister Arun Jaitley and other govt regulators sought to pacify investor's concerns after Friday's crash of 60% in intra-day trade. The Dewan Housing Finance stock rose up to 24.80% or 87 points to 438.75 level in early morning trade. On Friday, the ...

New jobs rise to 11-month high of 9.51 lakh in JulyNew job creations in July rose to an 11-month high of 9.51 lakh, taking the total tally of new enrolments to 61.81 lakh since September 2017, according to the EPFO's payroll data. Job addition numbers, which are based on new members enrolled in various social security schemes of EPFO such as pension, PF and insurance, were 9,51,423 in July -- the highest in any month since September 2017 when the retirement fund body started rel...

Income tax officials inspect books of Jet Airways in Mumbai, Delhi officesThe Income Tax Department on Wednesday swooped down on the premises of Jet Airways in Mumbai and Delhi to carry out an inspection of the books of the crisis-ridden airline for alleged falsification of accounts and siphoning of funds. As many as 50 tax officials are reported to have been pressed into action for the survey operation under Section 133A of the Income Tax Act at the Naresh Goyal-led airline's And...

Ahead of festive showdown, Flipkart pumps in Rs 3,463 crore to boost salesFlipkart is aiming at achieving 50 per cent of all smartphone sales during the upcoming festive month. Keeping the ambitious plan in mind, Flipkart has pumped in Rs 3,463 crore into its online marketplace, Flipkart Internet. This is the first biggest capital infusion by the Walmart-backed e-commerce giant ever since the US-based retail behemoth acquired a majority stake in the company. RCom to exit tele...

Bank of Baroda, Dena Bank and Vijaya Bank to merge; govt promises to protect employees' interestsMoving ahead with consolidation of public sector banks, Finance Minister Arun Jaitley on Monday announced the merger of Bank of Baroda, Vijaya Bank and Dena Bank. The merged entity would be India's third largest. There will be no adverse impact on employees of merged entity, the Finance Minister added. Department of Financial Services Secretary Rajeev Kumar said that the new bank will ...

RBI pulls back rupee from the brink by selling dollarsThe rupee slumped to a historic low of 72.91 in morning trade on Wednesday forcing the RBI to sell US dollars in the market through public sector banks to bring the Indian currency back from the brink. The government also issued a statement that the rupee would not be allowed to crash to an unreasonable level which further bolstered sentiments and enabled the rupee to climb back to 72.18 vis-a-vis the US dollar at the end of th...

Reversing a two-day meltdown, equity indices staged a smart pullback Wednesday as investors scooped up recently-hammered FMCG, metal and capital goods stocks amid a recovery in the rupee.Sentiment was bolstered after the government said all steps will be taken to ensure the domestic currency does not depreciate to \"unreasonable levels\", amid reports that PM Narendra Modi will take stock of the economic situation over the weekend.The Sensex surged in late afternoon trade to finish higher by ...

The market extended losses for the second continuous session this week amid a falling rupee, rising crude oil prices, widening current account deficit and global trade tensions which dampened investor sentiment. While the Sensex closed 509 points or 1.34% lower at 37,413, Nifty fell 150 points or 1.32% to 11,287 level. The Sensex has seen over 1% fall in the second straight session today for first time since February 2016.On Monday, the Sensex closed 467 points or 1.22% lower at 37,922, the N...

Interpol issues red-corner notice against Nirav Modi's sister Purvi ModiAfter the Interpol issued a red-corner notice (RCN) against a close aide of diamantaire fugitive Nirav Modi, Mihir Bhansali, it has issued another notice against Purvi Modi, who is a Belgian national and the sister of Nirav Modi. The RCN has been issued on the request of the Enforcement Directorate to the Interpol, as the ED seeks to interrogate her on the alleged charges of 'money laundering'.After Bharat Ban...

Govt to fine-tune e-commerce rules; panel formed to look into issueThe government has set up a group of secretaries to review a recently released draft ecommerce policy, which has drawn severe criticism from many stakeholders. The nascent but booming online retail space has largely been without regulations until a task force led by then commerce secretary Rita Teaotia put together the draft policy. The new group will be chaired by the secretary in the department of industrial poli...

Uber in talks with Indian regulators to understand modalities of aerial taxisRide-hailing app Uber, which is considering India among five global locations for its futuristic aerial taxi service, said it is in talks with regulators in the country to gauge the modalities and constraints of offering such a service. Last week, the Softbank-backed Uber had said it is considering India along with countries like Japan and France to be a part of Uber Elevate -- its aerial taxi service tha...

Global factors behind rupee fall, no need for knee-jerk reaction: JaitleyFinance Minister Arun Jaitley yesterday attributed the fall in rupee to global factors and said there was no need for panic or knee-jerk reactions. He said the Reserve Bank is doing whatever is necessary to deal with the situation.The battered rupee has lost 165 paise in the last six trading sessions. Jaitley further said the dollar has strengthened against almost every other currency and added that the rupee...

Cars and other durables to get costlier this festive seasonWith the rupee's continuous fall against the dollar automobile and consumer goods companies are facing a tough time. This festive season will see these goods become more expensive. LG, Haier, and Godrej Appliances have hiked prices by 3-5 per cent this month. Panasonic India is expected to increase product prices by 2-3 per cent soon as reported by the Business Standard. Maruti Suzuki, the country's largest carmaker, has i...

Rupee hits new all-time low against US dollarThe Indian rupee slumped 16 paise against the US dollar to trade at a life-time low of 71.37 in early trade on Tuesday. The fall in Indian currency is due to the strong demand for the US currency. At the Interbank Foreign Exchange, the local currency opened at a record low of 71.24 against a dollar, down from its previous close of 71.21, and weakened further to trade at a fresh low of 71.37, down 16 paise.  Airlines' losses could r...

Wipro wins biggest ever contract, over $1.5 billionIndian software services exporter Wipro Ltd has won its biggest-ever contract worth more than $1.5 billion with U.S.-based Alight Solutions LLC for digital services as reported by Reuters. Wipro would earn $1.5-1.6 billion in revenues over the tenure of the deal, which will include services in health, human resources and finance.The deal is expected to be completed in the quarter ending September.  Income Tax dept to wait til...

The Sensex closed marginally lower in volatile trade today ahead of the release of April-June quarter GDP data scheduled later in the day. The 30-share Sensex closed 45 points, or 0.12 per cent lower to 38,645 level. It hit intra day high of 38,838 and intra day low of 38,562 level in trade today. It lost 206.53 points in the previous two sessions.The Nifty ended marginally higher by 3 points to 11,680 level. Tata Motors (2.87%), PowerGrid (2.37%) and Sun Pharma (1.99%) were the top S...