Business
Sensex Recoups 153 pts on Global Cues
Major gainers were Infosys, Tata Steel, TCS, HDFC Ltd, Bharti Airtel, Coal India, Sun Pharma, Wipro, Yes Bank, Power Grid, Axis Bank and RIL, gaining up to 2.38 per cent
SoftBank Says Selling its Entire Flipkart Stake to Walmart
Walmart said earlier this month it will pay $16 billion for a roughly 77 percent stake in Flipkart, the U.S. retailer's largest-ever deal.
NCLAT Orders Status Quo on Essar Steel Insolvency For 2 Months
Essar Steel is being auctioned after the company defaulted on payment of about Rs 49,000 crore loan to lenders.The corporate insolvency resolution process deadline for Essar Steel is May 28.
State Bank of India Posts Q4 Net Loss of Rs 7,718 Crore on Account of NPAs
Total income during the January-March quarter was up at Rs 68,436.06 crore, from Rs 57,720.07 crore in the same period a year earlier, the bank said in a regulatory filing.
Rupee Falls 12 Paise to Fresh 16-Mth Low Against Dollar
Traders attributed the rupee's fall to increased demand for the dollar from importers and banks after US Treasury Secretary Steven Mnuchin said the trade war with China was on hold, amid hopes of easing trade tensions between the two economies.
Five of 10 Most Valued Companies Lose Rs 57,333 Crore in Market Valuation
While RIL, ITC, HDFC, Maruti Suzuki India and ONGC suffered losses in their market capitalisation (m-cap) for the week ended Friday, Tata Consultancy Services (TCS), HDFC Bank, Hindustan Unilever Ltd (HUL), Infosys and Kotak Mahindra Bank made gains on th...
China Planning to Buy Up to $200 Billion Worth of US Goods to Balance Trade Deficit: Report
The US has threatened to impose 25 per cent tariffs on up to USD 150 billion in Chinese goods while China has targeted USD 50 billion in American exports.
Reserve Bank to Keep Policy Rates Unchanged in June: Goldman Sachs
The probability of a June hike would increase if international oil prices rise further, or the rupee depreciates significantly ahead of the June meeting. The report said the RBI will likely begin hiking policy rates in August this year.
Universal Robots Expects India Biz to Grow Over 100pc
Universal Robots General Manager for South Asia Pradeep David said, "Universal Robots has been shipping to India since last 5-6 years. Automobile and automotive component makers have been early adopters of our robots. Now electronics, apparel and finance...
Tata Steel to Acquire Bhushan Steel Through Its Step-down Subsidiary Bamnipal Steel
In an identical filing, Bhushan Steel confirmed the development saying Tata Steel shall implement the resolution plan through Bamnipal Steel Ltd, a wholly owned subsidiary of Tata Steel.
Munjals-Burmans Bid Opted Due to Certainty, Liquidity Issues: Fortis
The majority of the healthcare chain's board opted for the Munjals-Burmans offer keeping in mind the certainty and liquidity issues, company director Brian W Tempest said.
Indian IT industry to Hire Over 1 Lakh People in 2018
According to software services industry body Nasscom, the exports would be USD 137 billion in 2018-19 as against USD 126 billion in 2017-18.
Early Investors Strike Gold, Several Employees to Become Millionaires With Flipkart-Walmart Deal
Flipkart’s founders Sachin Bansal and Binny Bansal (not related) currently hold 5.5% and 5% respectively. If they sell a substantial part of their 11 percent stake, each could make close to $1 billion.
Warren Buffett Bashes Bitcoin as Thriving on Mystique, Favors Stocks
Likening bitcoin demand to the tulip bulb mania in 17th century Holland, Buffett, the chairman and chief executive of Berkshire Hathaway Inc, said the mystique behind the cryptocurrency has caused its price to surge.
India-Afghanistan Ties: Billion Dollar Investments Amid Violent Episodes
The recent episode brings to spotlight India’s ties with Afghanistan which have been hailed by many, including Afghan ambassador to India, Shaida Mohammad Abdali, who said that India was the largest regional donor to the country. The spate of investments,...
ZTE Says Asked US Commerce Department to Suspend Business Ban
Washington imposed a seven-year ban on U.S. companies selling components and software to ZTE last month after finding the Chinese telecoms company breached U.S. sanctions on Iran.
