The Times Of India Business
Sensex, Nifty firm up gains in early trade; financial stocks shine
Equity benchmarks sensex and Nifty continued their upward journey in the opening session on Wednesday, propped up by significant gains in financial stocks. The BSE barometer sensex was trading higher by 411.23 points or 0.82 per cent at 50,708.12 in early session, and the Nifty was up 124.65 points or 0.84 per cent at 15,043.75.
Luxury destination weddings back in India
Italy’s Lake Como has made way for Udaipur’s Pichola Lake and Tuscany for Goa for a large number of well-heeled Indian lovebirds who wanted a destination wedding like Virat Kohli-Anushka Sharma (Tuscany) and Deepika Padukone-Ranveer Singh (Como) in picture perfect foreign locales.
Hitachi adds 1,000 white label ATMs in 5 months
Hitachi Payment Services has set up 1,000 white label ATMs in the last five months as the dash to cash during the pandemic is increasing demand for currency notes despite the rise in digital payments. White label ATMs are private machines that are owned and operated by non-bank entities but plugged into the banking network.
85% Indian women miss out on raise, promotion
About 85% of Indian women have missed out on a raise or promotion because of their gender, according to LinkedIn’s Opportunity Index 2021 report. The analysis also showed that more women in India have experienced the impact of gender on career development when compared to their counterparts in the Asia-Pacific region.
Government opts not to impose duty on Thai tyres
The finance ministry has decided not to impose anti-dumping duty on truck and bus radial tyres imported from Thailand. The ministry said in a notification that the “central government has decided not to impose the anti-dumping duty on imports of new pneumatic radial tyres of rubber for buses and lorries with or without tubes and/or flaps originating or exported from Thailand.”
After another Rs 25 hike, LPG refill price up Rs 175 since February 1
Household cooking gas became costlier by Rs 25 on Monday, the fourth increase in the last 24 days that takes the total increase to Rs 125 per cylinder. Cooking gas prices have been rising since December. Rates have cumulatively gone up by Rs 175 per refill since then. After the latest increase, a 14.2-kg domestic cylinder will cost Rs 819 in Delhi, up from Rs 794.
No TDS required on import of shrink-wrapped software: Supreme Court
The Supreme Court (SC) on Tuesday ruled that payments made by resident Indian end-users or distributors (such as technology companies) to overseas suppliers on import of ‘shrink-wrapped’ software – generally known as off-the-shelf software, is not a ‘Royalty’ payment.
India woos Tesla with offer of cheaper production costs than China
India is ready to offer incentives to ensure Tesla Inc's cost of production would be less than in China if the carmaker commits to making its electric vehicles in the country, transport minister Nitin Gadkari said.
'RBI limiting banks from raising stakes in insurance cos'
The Reserve Bank of India (RBI) wants banks to limit ownership stakes in capital intensive insurance companies at a maximum 20%, less than half of what the current regulations permit, three sources with knowledge of the discussions said.
BPCL to pay shareholders from refinery stake sale
Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) may use Rs 9,876 crore proceed from stake sale in Numaligarh Refinery to pay a special dividend to shareholders, the biggest being Government of India, BPCL director (finance) N Vijayagopal said on Tuesday.
Sensex rises 447 points as IT, auto stocks jump; Nifty ends above 14,900
Equity indices continued to surge on Tuesday with the benchmark BSE sensex rising nearly 450 points amid gains in IT and auto stocks. Sensex jumped 447 points or 0.90 per cent to close at 50,297; while the broader NSE Nifty moved 158 points or 1.07 per cent higher to settle at 14,919.
Exports dip 0.25% to $27.67 billion in February
India's exports marginally declined 0.25 per cent to $27.67 billion in February while imports grew by 6.98 per cent to $40.55 billion during the month, according to provisional data released by the commerce ministry on Tuesday.