News Archives - Page 12 of 14 -

27 Jun

Zomato expansion its ‘Restaurant Service Centers’ across India

Priyanka Roy0 CommentsBusiness, News

Online food ordering and delivery platform Zomato on Thursday said it is expanding its 'Restaurant Service Centre', a one-stop solution to help restaurants expand across the country. Through its Restaurant Services Centre, Zomato currently provides services related to staffing and licensing in restaurants. Over the past six months, the Restaurant Service Center has already served over 3,200 restaurants and will be extended to all restaurants across India, irrespective of their arrangement with Zomato, the company said in a statement. The company seeks to provide assistance in overcoming the complexities of running a restaurant, from locating the ideal location and finding…

26 Jun

Reliance Industries shares grew up 4%; Market valuation rose by Rs 80,359.48 crore

Priyanka Roy0 CommentsBusiness, News

The 30-share BSE Sensex closed at a new closing peak of 78,674.25, up 620.73 points or 0.80 percent.Shares of Reliance Industries surged 4 percent on Wednesday, taking its market valuation above Rs 20 lakh crore and helping benchmark indices close at record highs.The market bellwether stock closed 4.09 percent higher at Rs 3,027.40 on BSE. During the day, it rose 4.41 percent to hit a record high of Rs 3,037. It rose 3.87 percent to Rs 3,021.10 on NSE.The market valuation of the company increased by Rs 80,359.48 crore to Rs 20,48,282.28 crore. Reliance Industries is the most valuable company…

25 Jun

Oil inflation on strong dollar and strong fuel demand; Brent crude at $85.77/bbl

Priyanka Roy0 CommentsBusiness, News

Oil prices rose slightly on Monday as strong summer fuel demand and rising geopolitical tensions helped offset the impact of a stronger dollar.Brent futures for August delivery rose 53 cents to $85.77 a barrel, representing a gain of 0.6% by 11:38 a.m. EST (1538 GMT). Meanwhile, US crude futures rose 65 cents to $81.38 a barrel, representing a gain of 0.8%. Last week, both benchmarks recorded a 3% rise, their second consecutive weekly rise.“Crude oil prices witnessed significant volatility and declined from recent highs due to dollar index strength and mixed global economic data. The dollar index hit its highest…

24 Jun

India’s CAD fall to 0.7% of GDP, records surplus of 0.6% in Q4: RBI

Priyanka Roy0 CommentsBusiness, News

India recorded a current account surplus in the last quarter of the last financial year due to higher service income. Additionally, the Reserve Bank of India (RBI) on Monday said the overall current account deficit for FY2024 has narrowed due to decline in goods trade deficit. India's current account deficit (CAD) declined to 0.7 percent of GDP or $23.2 billion in FY2024 from 2 percent of GDP or $67 billion last year. “Sequential decline in CAD in Q4:2022-23 mainly due to narrowing in trade deficit with stronger services trade from US$71.3 billion in Q4:2022-23 to US$52.6 billion in Q4:2022-23 Went.…

22 Jun

Manufacturing PMI increase to 60.9 in June, job creation fastest in 18 years: Survey

Priyanka Roy0 CommentsBusiness, News

According to the HSBC survey, the final manufacturing, services and composite purchasing managers' index (PMI) figure rose 0.4 percentage points to 60.9 in June, compared with a revised figure of 60.5 in May.According to a survey, business activity in the country became stronger in June due to growth in manufacturing and services sectors and the pace of job creation became the fastest in 18 years.“The composite output index expansion further in June, supported by an grow in new orders, which led companies to rise hiring in both sectors. Input prices softened slightly in June, resulting in margin improvement, especially for…

21 Jun

Vodafone Idea shares grow more than 4%, up 26% in a month; What’s driving the rally here

Priyanka Roy0 CommentsBusiness, News

Shares of Vodafone Idea rose 3.51 percent after the telecom service provider reported it met its 5G rollout obligations across all circles. The company has 5G spectrum in 17 circles and has met the rollout needs for both spectrum bands.According to CNBC Awaaz, Vodafone Idea has completed network testing in both spectrum bands conducted by the Department of Telecommunications and has fulfilled its rollout obligations, incurring a fine of around ₹1 crore.In particular, it is mandatory to meet rollout obligations as per the license terms. Failure to complete the rollout on time could have resulted in action against the company,…

20 Jun

SBI to growth ₹20,000 crore through long-term bonds in FY2025

Priyanka Roy0 CommentsBusiness, News

State Bank of India (SBI) announced board approval to raise up to ₹20,000 crore through long-term bonds in FY 2024-25. The central board meeting on June 19, 2024, approved raising funds through public issue or private placement.At the time of writing, SBI shares are trading at ₹846.65 which is 0.70% lower than its previous close. The stock has seen a total rise of 49% in the past year and 32% since the beginning of the year.In January, SBI raised ₹5,000 crore through perpetual bonds at a coupon rate of 8.34%. In the last financial year, SBI had issued 15-year infrastructure…

19 Jun

Direct tax collections inflation 21% to Rs 4.62 lakh crore from higher corporate advance tax

Priyanka Roy0 CommentsBusiness, News

The first installment of advance tax, which was due on June 15, saw accumulation inflation 27.34% to Rs 1.48 lakh crore. This includes Corporation Income Tax (CIT) of Rs 1.14 lakh crore and Personal Income Tax of Rs 34,470 crore.Net direct tax collections have jumped by 21 percent to over Rs 4.62 lakh crore so far this financial year due to higher advance tax payments by corporates.The first installment of advance tax, which was due on June 15, saw collections inflation 27.34% to Rs 1.48 lakh crore. This includes Corporation Income Tax (CIT) of Rs 1.14 lakh crore and Personal…

18 Jun

US retail sales in May grew up just 0.1% from April as still-high inflation curbs spending

Priyanka Roy0 CommentsBusiness, News

Consumers barely up spending in May compared to April as still-high inflation and high interest rates curbed spending.According to the Commerce Department, retail sales rose 0.1 percent in May, slower than the pace expected by economists. And April sales were revised downwards – down 0.2 percent from unchanged. Sales rose 0.6 percent in March and 0.9 percent in February. This comes after a 1.1 percent decline in sales in January, which was partly due to bad weather.Excluding gas prices and auto sales, retail sales increased by the same amount. Excluding gasoline sales, whose prices are falling, sales rose 0.3 percent.…

15 Jun

SBI upsurge MCLR by 10 bps for all tenors

Priyanka Roy0 CommentsBusiness, News

State Bank of India (SBI) has increased the marginal cost of funds-based lending rate (MCLR) by 10 basis points (bps) for all tenors. The MCLR hike by SBI comes days after the Reserve Bank of India (RBI) left the key policy rate unchanged.This move is likely to be followed by other lenders, resulting in loans becoming costlier for borrowers.The country's largest lender has revised the one-year MCLR from 8.65 percent to 8.75 percent. Overnight MCLR has been increased from 8 percent to 8.1 percent. One and three month MCLR has been increased to 8.3 percent from earlier 8.2 percent.The revised…