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Infra stock jumps after receiving order worth ₹ 226 Cr from Govt. of Gujarat
During Thursday’s trading session, the shares of one of the leading industrial services and construction companies surged nearly 1 percent to Rs. 6,681.4 on BSE, after securing an order worth Rs. 226.66 crores from Gujarat Mineral Development Corporation Limited, a Government of Gujarat Enterprise. With a market capitalisation of Rs. 10,526.6 crores, at 02:36 p.m., [...]
Defence stock jumps 4% after receiving order worth ₹ 14.54 Cr from Sri Lankan Defence Min.
The shares of integrated technical services providers gained up to 4 percent after the company received a prestigious order from the Ministry of Defence, Sri Lanka, valued at Rs 14.54 crore. With a market capitalization of Rs 2,998.23 crore, the shares of Marine Electricals (India) Ltd were trading at Rs 226 per share, decreasing around [...]
Cyber security stock under ₹ 140 jumps 3% after receiving order for security audit from Govt. of India
During Thursday’s trading session, the shares of a company engaged in providing Information security auditing and Consulting surged 3 percent to Rs. 140.9 on BSE, after the company got empanelled by National Informatics Centre Services Incorporated (NICSI), a Government of India Enterprise. With a market capitalisation of Rs. 171.6 crores, the shares of AAA Technologies [...]
Smallcap stock jumps after receiving order worth ₹ 29.20 Cr from CIDCO
The shares of this smallcap company jumped around 1 percent in Thursday’s trading session after receiving a letter of acceptance worth Rs. 29.20 crores from the City and Industrial Development Corporation (CIDCO). In one year, the stock has delivered more than a 200 percent return to its shareholders. Price Movement: With a market capitalization of [...]
3 Stocks in which promoters sold their stake by up to 11.20%
Promoters reducing their stake in the company can be triggered by various reasons. It can be for fundraising, regulatory requirements, exit strategy, Changes in the Promoter's Vision or Strategy, investment opportunities and much more. Reducing promoter stake does not always signal a negative outlook for the company, but it is important for investors to assess [...]
Stock jumps 18% after company receives SM-REIT registration
The shares of the consultancy service provider gained up to 18 percent after the company received SEBI Approval for 'ImpactR SM-REIT'. With a market capitalization of Rs 393.93 crore, the shares of Rudrabhishek Enterprises Ltd were trading at Rs 227.15 per share, increasing around 17 percent as compared to the previous closing price of Rs [...]
Defence stock jumps after receiving order worth ₹ 3.45 Cr from Bharat Electronics
The shares of this smallcap company jumped upto 2 percent in Thursday’s trading session after receiving an order worth Rs. 3.45 crores from Bharat Electronics. Price Movement: With a market capitalization of Rs. 4,245 crores, the shares of Avantel Ltd started Thursday’s trading session on a flatter note at Rs. 177.70 compared to its previous [...]
Vijay Kedia stock jumps 10% after company to shift its equity trading from SME to Mainboard
Stock held by Vijay Kedia engaged in providing robotic and automation solutions for Industrial Automation and many others jumped upto 10 percent in the day’s trade following NSE approval for the migration of trading company’s shares from SME to mainboard of NSE. Price Action With a market capitalization of Rs. 736 Crores, the shares of [...]
Bluechip stock jumps after FII buys shares worth ₹ 500 Cr; Check target here
During Thursday’s trading session, the shares of India's largest private sector bank surged 0.2 percent to Rs. 1,782.75 on BSE, after UBS Principal Capital Asia Limited bought shares worth nearly Rs. 543 crores in the company via a block deal on BSE. With a market capitalisation of Rs. 13.5 lakh crores, the shares of HDFC [...]
Ashish Kacholia stock jumps 6% after acquiring 98.32% stake in IT service company
The shares of this smallcap company surged upto 6 percent in Thursday’s trading session after announcing the acquisition of a controlling stake in an information technology services company. The stock has delivered more than 60 percent in just six months. Price Movement: With a market capitalization of Rs. 5,504 crores, the shares of Zaggle Prepaid [...]
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Stocks to Buy: 6 Stocks to buy for an upside of 40%
The Indian Benchmark Indices closed in Green on Friday with the Sensex gaining around 218.14 points ending the week at 81,224.75 and the Nifty 50 index gaining around 113.55 points ending the week at 24,863.40. In the last five trading sessions, the Sensex declined by approximately 0.75 percent while the Nifty 50 index declined by [...]
₹2.23 to ₹1,829: NBFC stock turns ₹10,000 to ₹82 Lakhs in just 5 years
During the trading session of Friday, the shares of a registered NBFC with core business operations focused on investing and lending slumped nearly 5 percent to hit an intraday low at Rs. 1,758.1 on BSE. With a market capitalisation of Rs. 31,068 crores, the shares of Authum Investment & Infrastructure Limited opened at Rs. 1,849, [...]
Stocks to Buy: 6 Stocks to buy now for an upside of 50%
The Indian Benchmark Indices closed in red on Friday with the Sensex losing around 230.05 points ending the week at 81,381.36 and the Nifty 50 index losing around 34.20 points ending the week at 24,964.25. In the last five trading sessions, the Sensex declined by approximately 0.73 percent while the Nifty 50 index declined by [...]
₹430 to ₹14,136: Pharma stock turns ₹10,000 to ₹3.29 Lakhs in just 5 years
According to business standards, the Indian pharmaceutical industry is a global powerhouse, projected to reach $130 billion by 2030, growing at over 10% annually. Currently valued at $50 billion, India supplies 20% of the world's generic medicines and accounts for 60% of global vaccine production, cementing its role as the "pharmacy of the world. With [...]
Stocks that may get affected by Israel-Iran war
India is Israel’s 2nd trading partner in Asia and the 9th largest globally. The bilateral trade has been majorly dominated by diamonds and chemicals. However, recent years have seen an increase in trade in areas such as electronic machinery and high-tech products; medical equipment; communications systems, etc. The two nations celebrated 30 years of the [...]
5 Stocks that supply defence equipments to Israel to keep an eye on
The geopolitical tensions involving Israel, Iran, and Gaza are characterized by Iran's animosity toward Israel and its support for militant groups like Hamas and Hezbollah, which engage in hostilities against Israel. This led to airstrikes, military & political outrage, loss of life, and more leading to fear of global war among other nations. Listed below [...]
Latest Market News
Centre to borrow record Rs 11.6 lakh cr in FY’23 to meet expenses
New Delhi, Feb 1 (PTI) The government will borrow a record Rs 11.6 lakh crore from the market in 2022-23 to meet its expenditure requirement to prop up the economy hit by the COVID-19 pandemic. This is nearly Rs 2 lakh crore higher than the current year's Budget estimate of Rs 9.7 lakh crore. Total [...]
Budget: Allied farm, food processing sectors get further push; to promote drones, startups
New Delhi, Feb 1 (PTI) In a bid to tap the allied farm and food processing sectors to boost farmers' income, the government on Tuesday proposed higher budget allocation for these two sectors for the next fiscal, besides announcing finance support for startups, promotion of Kisan drones and PPP mode for delivery of high tech [...]
Union Budget 2022-2023 Summarized – Important Points
Finance Minister Nirmala Sitharaman presented the second paperless Union budget speech today. It started at 11:00 am in the Parliament and lasted for 92 minutes. A 9.2% growth in the GDP is expected in FY22 to be above pre-pandemic levels. The fiscal deficit is estimated at 6.9%. For 2022-23, the total expenditure has been pegged [...]
MSME sector group hails budget; another trade body dismayed over absence of tax sops
Indore, Feb 1 (PTI) A leading organisation representing Micro, Small and Medium Enterprises (MSMEs) on Tuesday praised the Union Budget for 2022-23, saying its proposals are based on "long-term thinking”, while another business association expressed disappointment over pandemic-hit salaried class not getting any income tax relief.MSME sector-linked Association of Industries' MP unit president Pramod Dafaria [...]
It should take 4-6 months on final framework for new SEZ law: Goyal
New Delhi, Feb 1 (PTI) The commerce ministry is holding consultations with all stakeholders, including states and the industry, on the proposal to replace the existing law governing special economic zones (SEZs) with a new legislation, and it should take 4-6 months to come out with the final framework of the new law, Commerce and [...]
Push to digital economy, introducing digital currency are welcome points: Great Lakes Institute of Management
Chennai, Feb 1 (PTI) The push given to digital economy, introduction of digital currency and starting 200 television channels are some of the welcome points announced by Union Finance Minister Nirmala Sitharaman in her budget presentation, a senior official of city-based Great Lakes Institute of Management said on Tuesday. Modification to the filing of tax [...]
Budget 2022-23 bets on spending spur to sustain eco recovery
New Delhi, Feb 1 (PTI) Finance Minister Nirmala Sitharaman on Tuesday unveiled a bigger Rs 39.45 lakh crore Budget, with higher spending on highways to affordable housing with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. While she primed up spending on infrastructure to [...]
India to provide Rs 6,292 crore as development assistance to other countries, Rs 200 crore for Afghanistan
New Delhi, Feb 1 (PTI) In a signal of its commitment to Afghan people, India on Tuesday set aside in its budget for 2022-23 an amount of Rs 200 crore as development assistance to Afghanistan besides allocating Rs 100 crore for the Chabahar port project. Finance Minister Nirmala Sitharaman allocated a total of Rs 17,250 [...]
Govt pegs STT collection at Rs 20,000-cr for FY23
New Delhi, Feb 1 (PTI) The government expects to collect Rs 20,000 crore from securities transaction tax (STT) in 2022-23, which is 60 per cent higher than the budget estimate of the preceding fiscal year. The Budget Estimate for 2021-22 projected collection of Rs 12,500 crore. For financial year 2021-22, the revised estimate for STT collection [...]
Budget’s focus on infra to benefit northern states: CII’s northern region head
Chandigarh, Feb 1 (PTI) The Union Budget, presented by Finance Minister Nirmala Sitharaman, is a growth-oriented and pro-development one, with sizeable capital investment for sustained and speedy economic revival, said CII Northern Region Chairman Abhimanyu Munjal on Tuesday. "Nirmala Sitharaman, finance minister, today (Tuesday) presented a growth-oriented, expansionary Budget and has clearly indicated the government's [...]
4 projs for coal to clean energy conversion to help achieve 100 MT coal gasification by 2030: Joshi
New Delhi, Feb 1 (PTI) Coal Minister Pralhad Joshi on Tuesday said that four projects for conversion of coal to clean energy with private sector capital investment of Rs 30,130 crore will help in achieving the target of 100 million tonnes (MT) coal gasification by 2030. Finance Minister Nirmala Sitharaman in her budget speech 2022-23 [...]
Realty stocks jump up to 6 pc post Budget
New Delhi, Feb 1 (PTI) Shares of real estate companies on Tuesday jumped up to 6 per cent after Finance Minister Nirmala Sitharaman announced allocation of a whopping Rs 48,000 crore for completion of 80 lakh houses under the Pradhan Mantri Awas Yojana (PMAY), both rural and urban, during the next fiscal year.Oberoi Realty jumped [...]
Kerala Travel Mart deferred to May 5-8 due to Covid surge
Thiruvananthapuram, Feb 1 (PTI) The eleventh edition of Kerala Travel Mart (KTM), a tourism industry congregation originally scheduled for March 24-27, has been postponed to May 5 to 8 at Kochi in view of the current surge in Covid-19 across the world, officials said here on Tuesday. The revised schedule of the event was announced [...]
Adani Ports Q3 Results: Consolidated profit falls 6.2%
New Delhi, Feb 1 (PTI) Adani Ports and Special Economic Zone (APSEZ) on Tuesday reported a 6.20 per cent decline in consolidated profit to Rs 1,478.76 crore for the third quarter ended December 2021. The country's largest integrated logistics player had clocked a consolidated profit of Rs 1,576.53 crore in the corresponding period a year ago, according to a [...]
Higher MSP allocation will drive consumption in rural markets: FMCG makers
New Delhi, Feb 1 (PTI) Higher minimum support prices allocation for farmers will help drive consumption of FMCG products in the hinterland while enhancement of public expenditure will create a multiplier impact on growth, leading FMCG firms said on Tuesday, terming the Union Budget as "futuristic" and "growth-oriented". With an unexpected higher thrust on capital [...]
A K Goel assumes charge as MD&CEO of Punjab National Bank
New Delhi, Feb 1 (PTI) Atul Kumar Goel has assumed charge as the Managing Director & Chief Executive Officer of the city-headquartered Punjab National Bank (PNB), a regulatory filing said on Tuesday. Goel has assumed the charge as the MD & CEO of the bank with effect from February 1, 2022, PNB said in the [...]
SJVN power stations’ power generation grows 10 pc to over 290 MU in Jan
New Delhi, Feb 1 (PTI) State-owned SJVN's power stations generated 290.5 million units (MU) of energy during January 2022, its Chairman and Managing Director Nand Lal Sharma said on Tuesday. At 290.47 MU, the power generation was 10 per cent higher from 265.69 MU in January 2021, he said in a statement. The power stations [...]
Industry hails infra push through Gati Shakti, PPP in Budget
New Delhi, Feb 1 (PTI) Industry players on Tuesday hailed the announcements for the infrastructure sector in the Union Budget and said the proposal to fund infrastructure through 'Gati Shakti' and public private partnerships will mark the escalation of economic prosperity. Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget 2022 in Parliament. "One [...]
Royal Enfield reports 15 pc drop in wholesales in Jan
New Delhi, Feb 1 (PTI) Mid-sized motorcycle maker Royal Enfield, a part of Eicher Motors, on Tuesday reported a 15 per cent decline in total wholesales at 58,838 units in January this year. The company had reported sales of 68,887 units in January 2021. Domestic sales last month stood at 49,726 units, 23 per cent [...]
Rise in capex bodes well for economic activity, job creation: Sundaram Finance
Chennai, Feb 1 (PTI) The substantial increase in capital expenditure to Rs 7.50 lakh crore as announced by Finance Minister Nirmala Sitharaman is clearly the highlight of the Union Budget and this bodes well for sustaining the economic activity and job creation in the medium term, a top official of Sundaram Finance said on Tuesday. [...]
New Co-operation Ministry gets Rs 900 cr budget allocation for FY23; slash in AMT and surcharge
New Delhi, Feb 1 (PTI) The government on Tuesday announced Rs 900-crore allocation in the Budget for the newly set up Ministry of Cooperation for the 2022-23 fiscal, besides slashing Alternate Minimum Tax (AMT) on cooperative societies to 15 per cent and surcharge to 7 per cent, which nodal minister Amit Shah hailed saying it [...]
Budget growth-oriented, follows familiar strategy of driving Capex to fuel growth: Bankers
Mumbai, Feb 1 (PTI) The Union Budget was hailed as growth-oriented by bankers, who said it follows the "familiar strategy" of focusing on driving capital expenditure to help the economy."The budget focussed on a familiar strategy of driving capital expenditure to drive growth, with the intention of crowding in private investment through higher public spending,” [...]
Adani Ports quarterly profit falls to Rs 1,478.76 crore
Adani Ports and Special Economic Zone Limited (APSEZ) on Tuesday reported a 6.20 per cent decline in consolidated profit at Rs 1,478.76 crore for the third quarter ended December 2021. The country's largest integrated logistics player had clocked a consolidated profit of Rs 1,576.53 crore in the corresponding period a year earlier, according to a regulatory [...]
Not much for auto sector but focus on infra to support job generation: Forging industry on Budget
Mumbai, Feb 1 (PTI) The domestic forging industry on Tuesday said the Union Budget 2022-23 does not offer much for the automotive sector but its focus on investing more in infrastructure and renewable energy will indirectly support employment generation. "Apart from encouraging EVs (electric vehicles) by creating a battery-swapping strategy to overcome EV charging infrastructure, [...]
Rupee slips 17 paise to close at 74.82 against US dollar
Mumbai, Feb 1 (PTI) The rupee pared its initial gains and settled 17 paise lower at 74.82 against US dollar on Tuesday as caution set in among forex market participants after the government in the budget revised fiscal deficit target upwards for FY'22. The country's fiscal deficit is projected to be higher at 6.9 per [...]
Post-Union Budget Quote from Mr. Venu Srinivasan, Chairman, TVS Motor Company
Hosur, Tamil Nadu, India (NewsVoir) “Union Budget 2022 sets the pace for the Indian Economy’s growth trajectory amidst the challenges brought forth by the pandemic. The big boost to capital expenditure is welcome and it would give a fillip to the Indian economy. For the automobile sector, we welcome the ‘PM Gati Shakti Master Plan’ [...]
Govt focus on multi-modal connectivity to boost logistics sector, say ind players
Mumbai, Feb 1 (PTI) The government's drive to encourage integrated logistics and multi-modal connectivity is definitely a positive move towards the progress of the logistics industry in India, industry executives and experts said. Finance Minister Nirmala Sitharaman in her Budget speech on Tuesday said the PM Gati Shakti National Master Plan is a transformative approach [...]
Govt proposes to tweak TDS norms on sale of immovable property
New Delhi, Feb 1 (PTI) One per cent TDS will apply on a non-agriculture immovable property of over Rs 50 lakh on the basis of sale price or the stamp duty value, which ever is higher, after an amendment in the Income Tax Act. Currently, the TDS is deducted basis only the consideration value of [...]
Markets march higher after Budget hikes infra spending, avoids new taxes
The Sensex soared 848 points while the Nifty reclaimed the 17,500-mark on Tuesday after Finance Minister Nirmala Sitharaman unveiled a bigger Rs 39.45 lakh crore Budget, with higher spending on infrastructure to spur economic recovery and create jobs. Metal, realty and cement stocks saw robust buying, while selling in auto and telecom counters capped the [...]
Hospitality industry terms Union Budget as ‘gravely disappointing’
The tourism and hospitality industry on Tuesday termed the Union Budget 2022-23 as 'gravely disappointing', saying the measures announced by Finance Minister Sitharaman were not enough to support the sector that has been crippled by the COVID-19 pandemic. In her Budget 2022-23 speech, Sitharaman had acknowledged that hospitality and related services, especially those by micro [...]
HPCL shares tumble over 7 pc after third quarter earnings
New Delhi, Feb 1 (PTI) Shares of Hindustan Petroleum Corporation Ltd (HPCL) on Tuesday tumbled over 7 per cent after the firm reported a 63 per cent decline in third quarter net profit. The stock declined 7.15 per cent to settle at Rs 291.55 on BSE. During the day, it tanked 7.62 per cent to [...]
Budget: Reducing MGNREGA allocation to hit rural employment, says Amit Mitra
Kolkata, Feb 1 (PTI) Advisor to the West Bengal government and its former finance minister Amit Mitra on Tuesday claimed that when India is the only country in the world with stagflation, the proposals of the Union budget will affect rural employment as allocation for the MGNREGA was reduced.There is nothing about livelihood of people [...]
Centre allocates Rs 9,259 cr to special purpose vehicle AIAHL
New Delhi, Feb 1 (PTI) The Centre has allocated Rs 9,259 crore to AIAHL, a government-owned special purpose vehicle set up to handle Air India's debt and non-core assets, for the next financial year starting from April 1, according to a budget document. In the budget speech on Tuesday, Finance Minister Nirmala Sitharaman said the revised [...]
Gujarat CM hails budget as `pro-people’
Ahmedabad, Feb 1 (PTI) Gujarat Chief Minister Bhupendra Patel on Tuesday welcomed the union budget, saying it will fulfill Prime Minister Narendra Modi's vision of "Atmanirbhar Bharat." In a statement here, Patel thanked Modi and Union Finance Minister Nirmala Sitharaman for presenting a "pro-people budget." "Despite providing vaccines against coronavirus free to people and strengthening [...]
Markets march higher after Budget hikes infra spending, avoids new taxes
Mumbai, Feb 1 (PTI) The Sensex soared 848 points while the Nifty reclaimed the 17,500-mark on Tuesday after Finance Minister Nirmala Sitharaman unveiled a bigger Rs 39.45 lakh crore Budget, with higher spending on infrastructure to spur economic recovery and create jobs. Metal, realty and cement stocks saw robust buying, while selling in auto and [...]
Union Budget 2022 ‘growth-oriented’, devoid of populism: India Inc
New Delhi, Feb 1 (PTI) Finance Minister Nirmala Sitharaman's second pandemic Budget is growth-oriented and exudes a fine balancing act with an increase in capital expenditure while maintaining fiscal discipline, India Inc said on Tuesday. Corporate leaders and industry bodies described the Budget as business-like and devoid of any populism, with an emphasis on improving [...]
Bad news for bibliophiles: Amazon to shut down publishing house Westland
New Delhi, Feb 1 (PTI) Much to the disappointment of book lovers, Westland, one of the largest publishing houses in India, is being shut down by e-commerce giant Amazon, they announced on Tuesday.The publishing company, which was acquired by Amazon from Trent Ltd, a subsidiary of Tata Group, in 2016, has published works of several bestselling authors [...]
Battery-swapping policy would be instrumental for electric vehicle ecosystem: Venu Srinivasan
Chennai, Feb 1 (PTI) TVS Motor Company Chairman Venu Srinivasan on Tuesday said the Union Budget's announcement of battery-swapping policy would be instrumental in supporting an efficient electric vehicle ecosystem. He termed the budget, presented by Union Finance Minister Nirmala Sitharaman, sets the pace for the economy's growth trajectory amid the challenges faced due to [...]
Tech Mahindra Q3 Results: Net profit up 7%, restricted by supply side challenges
IT services exporter Tech Mahindra on Tuesday reported 6.8 per cent rise in December quarter net profit at Rs 1,378.2 crore, with the growth in profits being compressed by supply side challenges. Overall revenue from operations grew 18.7 per cent to Rs 11,450 crore but narrowing of operating profit margin to 14.8 per cent as [...]
GIC Housing shares trim most of early gains; settle marginally higher
New Delhi, Feb 1 (PTI) Shares of GIC Housing Finance on Tuesday trimmed most of its early gains and settled marginally higher. In early trade, it jumped over 5 per cent after the company reported a 25.5 per cent increase in its standalone net profit in the quarter ended December 2021. The stock gained 5.08 [...]
Push to infrastructure to have multiplier effect on steel, cement sectors: IRMA
New Delhi, Feb 1 (PTI) The "significant push" by the government to the infrastructure sector in the Union Budget is expected to have a multiplier effect on the core sectors like steel and cement, industry body IRMA on Tuesday said. In a statement, the Indian Refractory Makers Association (IRMA) said, "There is a significant push [...]
Extension of ECLGS scheme to ensure availability of credit to MSMEs: Experts
Mumbai, Feb 1 (PTI) The extension of Emergency Credit Line Guarantee Scheme (ECLGS) till March 2023 and expansion of its guarantee cover by Rs 50,000 crore for MSMEs by the government will help meet the working capital requirement of small businesses, which have been hit the hardest during the pandemic, say experts. Presenting the Union [...]
Crypto players welcome tax move for legitimising bets on risky assets, even as law awaits
Mumbai, Feb 1 (PTI) The crypto ecosystem has welcomed Finance Minister Nirmala Sitharaman's proposal for a 30 per cent tax on digital assets for legitimising bets on the assets considered as very risky by the RBI, even as a law on regulating such activity is awaited. In her Budget Speech, Sitharaman has proposed the tax [...]
Realtors hail Rs 48k outlay for PMAY; unhappy over no tax sops for home buyers, industry
New Delhi, Feb 1 (PTI) Real estate developers on Tuesday hailed the government's decision to allocate Rs 48,000 crore in Budget under the Pradhan Mantri Awas Yojana (PMAY) and faster approvals for affordable housing in urban areas but rued that no additional tax deduction was allowed on interest paid on home loans. "Allocation of Rs [...]
KPIT Q3FY22 USD Revenue Grows 20 Percent Y-o-Y; Y-o-Y Net Profit Growth of 67.6 Percent
Pune, Maharashtra, India – Business Wire India KPIT, a leading independent software development and integration partner to the automotive and mobility industry announced financial results for Q3 FY 2021-22 today. Q3 FY22 performance overview • Q3FY22 CC Revenue growth of 21.2% Y-o-Y, 5.6% Q-o-Q. Q3FY22 EBITDA at 18.5% as against 17.6% last quarter • Net [...]
Budget allocation to coal ministry dips 39 pc to Rs 393 cr in 2022-23
New Delhi, Feb 1 (PTI) Budget allocation for the coal ministry has registered a decline of 38.9 per cent to Rs 393.24 crore for financial year 2022-23. The decline has been over the revised estimates of Rs 644.09 crore in 2021-22, according to Budget documents. According to Budget documents, the expenditure for financial year 2021-22 [...]
MUMMBAI, FEB 1 (PTI)
MUMBAI BULLION :- OPENING CLOSING SILVER SPOT (IN RS PER KILO) : 60969.00 61610.00 STANDARD GOLD (99.5) : 47784.00 48061.00 PURE GOLD (99.9) : 47976.00 48254.00 --------------- PTI MUM SVC SVC SVC
PLI scheme to aid creation of 45 GW of solar equipment making capacity: RK Singh
New Delhi, Feb 1 (PTI) Union Power Minister RK Singh on Tuesday said production linked incentive (PLI) scheme for solar cells and modules will aid the creation of 40-45 GW of additional solar equipment manufacturing capacity in the country.It is proposed in the General Budget presented in Lok Sabha on Tuesday that the funding under [...]
Shiv Sena dubs Union Budget ‘very depressing’, NCP finds it disappointing
Mumbai, Feb 1 (PTI) The Shiv Sena on Tuesday dubbed the Union Budget as “very depressing”, saying it has neither given any relief to the middle class nor it has any reference to Prime Minister Narendra Modi's vision of making India a ''USD 5 trillion'' economy. The NCP, which shares power with the Shiv Sena [...]
Imported headphones, umbrella, solar cells to be costlier; cocoa beans, frozen mussels cheaper
New Delhi, Feb 1 (PTI) The government on Tuesday proposed to increase the basic customs duty (BCD) on import of commonly used items, including headphones and earphones, loudspeakers, smart meters, imitation jewellery, solar cells, solar modules to promote domestic manufacturing in the in the Union Budget for 2022-23. However, imported cut and polished diamonds, frozen [...]
Govt raises farm credit target to Rs 18 lakh cr for FY23
New Delhi, Feb 1 (PTI) The government has increased the agricultural credit target to Rs 18 lakh crore for the 2022-23 fiscal from Rs 16.50 lakh crore for the current fiscal, a senior Finance Ministry said on Tuesday. The official was briefing reporters about the Budget proposals in the presence of Finance Minister Nirmala Sitharaman [...]
Tata Motors shares decline over 2 pc after earnings
New Delhi, Feb 1 (PTI) Shares of Tata Motors on Tuesday declined over 2 per cent after the company reported a consolidated net loss of Rs 1,451.05 crore for the third quarter ended December 2021.The stock fell 4.69 per cent to Rs 493.20 during the day on BSE. It closed at Rs 504.30, a decline [...]
Govt expects 27% lower dividend at Rs 74,000 cr from RBI and banks in FY23
New Delhi, Feb 1 (PTI) The government is expecting a 27 per cent lower dividend at Rs 73,948 crore from the Reserve Bank of India (RBI) and public sector banks and financial institutions in 2022-23.In absolute term, this is nearly Rs 27,400 crore lower than the Revised Estimates (RE) of Rs 1,01,353 crore under the [...]
Indian business leaders in Singapore welcome Union Budget
Singapore, Feb 1 (PTI) Indian business leaders in Singapore lauded the Union Budget for 2022-23 presented by Finance Minister Nirmala Sitharaman on Tuesday, saying it is in tune with the global trends and a "giant step" towards making India a USD 5 trillion economy in the next few years.Finance Minister Sitharaman on Tuesday unveiled a [...]
Battery swapping policy big booster for EV mobility, startups, says industry
The Union Budget for 2022-23 aims at strengthening the whole ecosystem of the EV industry, which will spur the demand for green vehicles, the EV industry said on Tuesday. It also said that the introduction of battery swapping policy and interoperability standards announced in the Budget will go a long way in building the use [...]
IndiGo terms Budget 2022 as ‘growth-oriented’, expects cut in excise duty on jet fuel
Mumbai, Feb 1 (PTI) Budget carrier IndiGo termed the Union Budget 2022-23 as "growth-oriented" while expecting a cut in the excise duty on jet fuel. "Budget 2022-23 appears to be growth-oriented by an increase in the capital outlay of Rs 7.5 lakh crore, fiscal deficit capped at 6.4 per cent and efforts are being made [...]
New Co-operation Ministry gets Rs 900 cr budget allocation for FY23; slash in AMT and surcharge
New Delhi, Feb 1 (PTI) The government on Tuesday announced Rs 900-crore allocation in the Budget for the newly set up Ministry of Cooperation for the 2022-23 fiscal, besides slashing Alternate Minimum Tax (AMT) on cooperative societies to 15 per cent and surcharge to 7 per cent, which nodal minister Amit Shah hailed saying it [...]
Ministry of Home Affairs gets allocated Rs 1.85 lakh crore in budget
Reflecting the Modi government's priority to internal security, the Union Budget on Tuesday allocated Rs 1.85 lakh crore to the Ministry of Home Affairs, with the majority of spending on central police organisations like the CRPF, BSF and for improving the infrastructure along the international borders. The 2022-23 budget allocation to the MHA, helmed by [...]
National highways to be expanded by 25,000 km in 2022-23: FM
New Delhi, Feb 1 (PTI) Finance Minister Nirmala Sitharaman on Tuesday said national highways will be expanded by 25,000 kilometres (km) during 2022-23 and the national ropeway development programme will be taken up in the public-private partnership (PPP) mode. Sitharaman announced this while presenting the Budget 2022-23 in Parliament. She also said contracts for the implementation of [...]
NRI businessmen in UAE hail Budget 2022-23; say it envisions India’s overall growth
Dubai, Feb 1 (PTI) The NRI businessmen in the UAE welcomed the Budget 2022-23 presented by Finance Minister Nirmala Sitharaman on Tuesday, terming it as a highly promising budget that envisions India's overall growth.Finance Minister Sitharaman unveiled a Rs 39.45 lakh crore Budget, with higher spending on highways to affordable housing with a view to [...]
Realtors hail Rs 48k outlay for PMAY; unhappy over no tax sops for home buyers, industry
New Delhi, Feb 1 (PTI) Real estate developers on Tuesday hailed the government's decision to allocate Rs 48,000 crore in Budget under the Pradhan Mantri Awas Yojana (PMAY) and faster approvals for affordable housing in urban areas but rued that no additional tax deduction was allowed on interest paid on home loans. "Allocation of Rs [...]
Ashok Leyland sales up 6% to 13,939 units in January
New Delhi, Feb 1 (PTI) Hinduja flagship firm Ashok Leyland on Tuesday reported a 6 per cent increase in total commercial vehicle sales to 13,939 units in January 2022. The company had sold 13,126 units in the same month last year, Ashok Leyland said in a regulatory filing. Domestic sales were up 3 per cent [...]
Union Budget ‘very depressing’, fails to provide relief to middle class: Shiv Sena
Mumbai, Feb 1 (PTI) The Shiv Sena on Tuesday dubbed the Union Budget as “very depressing”, saying it has neither given any relief to the middle class nor it has any reference to Prime Minister Narendra Modi's vision of making India a "USD 5 trillion" economy. After the budget, Shiv Sena MP Vinayak Raut said [...]
Higher PLI fund for solar PV manufacturing can spawn 30-35 GW capacity addition by FY24: Industry
Mumbai, Feb 1 (PTI) The Budget proposal to allocate Rs 24,000 crore under the PLI scheme to the solar industry for manufacturing solar cells and modules can lead to setting up of 30-35 gigawatts (GW) of the solar module capacity and 25-30 GW of the cell capacity by 2024, industry experts have said. While presenting [...]
Higher PLI fund for solar PV manufacturing can spawn 30-35 GW capacity addition by FY24: Industry
Mumbai, Feb 1 (PTI) The Budget proposal to allocate Rs 24,000 crore under the PLI scheme to the solar industry for manufacturing solar cells and modules can lead to setting up of 30-35 gigawatts (GW) of the solar module capacity and 25-30 GW of the cell capacity by 2024, industry experts have said. While presenting [...]
Budget: Allied farm, food processing sectors get further push; to promote drones, startups
New Delhi, Feb 1 (PTI) In a bid to tap the allied farm and food processing sectors to boost farmers' income, the government on Tuesday proposed higher budget allocation for these two sectors for the next fiscal, besides announcing finance support for startups, promotion of Kisan drones and PPP mode for delivery of high tech [...]
Corp Affairs Min gets higher allocation of Rs 733 cr for next fiscal year
New Delhi, Feb 1 (PTI) The corporate affairs ministry will get a higher allocation of Rs 733.02 crore in the next financial year starting from April 1 compared to the amount set aside in 2021-22. In the Union Budget 2022-23, presented by Finance Minister Nirmala Sitharaman on Tuesday, the amount allocated for the ministry includes [...]
Union budget embodiment of PM’s promises to fulfil people aspiration: Tripura CM
Agartala, Feb 1 (PTI) Tripura Chief Minister Biplab Kumar Deb on Tuesday hailed the Union Budget for the 2022-23 fiscal, asserting that it is an embodiment of Prime Minister Narendra Modi's promises to fulfil the aspiration of people and has been drafted with the "vision of making a new India". He also said the proposed [...]
NEWSALERT
Agriculture credit target is Rs 18 lakh cr for next fiscal compared to Rs 16.5 lakh cr in current year: Official. PTI JD DP ANZ MR
‘Growth oriented’ budget; possibilities for India to post double digit growth: C K Ranganathan
Chennai, Feb 1 (PTI) The Union Budget presented by Finance Minister Nirmala Sitharaman is 'growth oriented' and there are possibilities for the country to post a double digit growth in GDP in the coming years following a fillip given by the Centre to sectors like agriculture, a top industry official said here on Tuesday.Confederation of [...]
400 new Vande Bharat trains; new products for farmers, MSMEs to be introduced: FM
New Delhi, Feb 1 (PTI) Finance Minister Nirmala Sitharaman on Tuesday announced that 400 new Vande Bharat trains will be developed and manufactured over the next three years and new products will be introduced by the Railways for the benefit of small farmers and MSMEs. The Railways has received an allocation of Rs 140367.13 crore [...]
COAI lauds Budget’s focus on digital connectivity; disappointed on demands being unmet
New Delhi, Feb 1 (PTI) Telecom industry body COAI on Tuesday lauded the Budget's focus on digital connectivity and announcement related to spectrum auction for 5G rollout but expressed disappointment that its long-standing demands remained unaddressed. Cellular Operators' Association of India (COAI) said it looks forward to continued and constructive engagement with the government for [...]
National highways to be expanded by 25,000 km in 2022-23: FM
New Delhi, Feb 1 (PTI) Finance Minister Nirmala Sitharaman on Tuesday said national highways will be expanded by 25,000 kilometres (km) during 2022-23 and the national ropeway development programme will be taken up in the public-private partnership (PPP) mode. Sitharaman announced this while presenting the Budget 2022-23 in Parliament. She also said contracts for the implementation of [...]
Digital currency explained: India catches up with global fad
New Delhi, Feb 1 (PTI) Crypto or digital currencies are the latest fad across the world and India will next fiscal, beginning April 1, have its own version of the same which essentially would mirror the prevalent physical currency in digital form.The currency, called 'digital rupee', will be issued by the Reserve Bank in digital [...]
Govt to set up task force for animation, visual effects, gaming, comic sector
New Delhi, Feb 1 (PTI) The government on Tuesday announced setting up of a task force to recommend steps for promotion of animation, visual effects, gaming, and comic (AVGC) sector. The sector offers immense potential to employ youth, Finance Minister Nirmala Sitharaman said in her Budget speech. "An AVGC promotion task force with all stakeholders [...]
With 9.2% growth in FY22, economy to recover 101.3% of pre-pandemic FY20 output: Budget
New Delhi, Feb 1 (PTI) With India's real GDP estimated to grow 9.2 per cent in 2021-22, the economy stands to recover 101.3 per cent of the pre-pandemic output of 2019-20, the Budget documents said on Tuesday. It further said India's economic growth is supported by a strong rebound seen in several high-frequency indicators in [...]
Railway Ministry allocated Rs 1,40,367.13 crore in Union Budget
New Delhi, Feb 1 (PTI) The Railway Ministry has been allocated Rs 140367.13 crore in the Union Budget on Tuesday - Rs 20,311 crore more than the revised figures of the previous fiscal. Finance Minister Nirmala Sitharaman in her Budget speech for 2022-23 said that India will manufacture 400 new, energy-efficient Vande Bharat trains in [...]
MUMBAI, FEB 1 (PTI) METAL:IN RS.PER KG INCLUSIVE OF GST.
COPPER :- COPPER CABEL SCRAP 731.00 COPPER HEAVY SCRAPS 721.00 COPPER ARMATURE (CREDIT) 700.00 COPPER UTENSILS SCRAP 637.00 CC ROD 770.00 BRASS :- BRASS SHEET CUTTING 536.00 BRASS UTENSIL SCRAP 486.00 BRASS HONEY 480.00 ALUMINIUM :- ALUMINIUM UTENSIL SCARPS 184.00 ALUMINIUM EXTRUSION SCRAP 216.00 ALUMINIUM INGOTS 251.00 OTHER : - GUN METAL SCRAP 520.00 ZINC [...]
PRICES MUM OILSEEDS CLOSING
MUMBAI, FEB 01 (PTI) OILS (per 10 Kgs) G.Nut Raw 1340.00 Kardi Expeller - Sesame Expeller - Sunflower Exp. 1215.00 Sunflower Exp.Ref. 1285.00 Cottonseed(Refined) 1300.00 Refined Palm Oil 1225.00 Soyabean Ref. 1265.00 Imp.Soyabean Crude - Rapeseed Ref. 1700.00 Rapeseed Exp. 1670.00 Copra white 1580.00 Rice Bran 4-7% FFA - Rice Bran 1180.00 Linseed 1850.00 Castor [...]
Hyundai India’s total sales dip 11% in January
New Delhi, Feb 1 (PTI) Hyundai Motor India on Tuesday reported a 11.11 per cent decline in total sales at 53,427 units in January 2022.The company had sold 60,105 units in the same month last year, Hyundai Motor India Ltd said in a statement. Domestic sales were down 15.35 per cent to 44,022 units last [...]
Govt proposes amendments in IBC for efficient resolution of distressed corporates
New Delhi, Feb 1 (PTI) The government will bring about "necessary amendments" in the Insolvency and Bankruptcy Code (IBC) to enhance corporate resolution and facilitate the cross-border insolvency process, Finance Minister Nirmala Sitharaman proposed in the Union Budget 2022-23. The main objective of the Code is resolving the corporate debtors (CDs) in distress. "Necessary amendments [...]
PM Modi hails ‘people-friendly and progressive’ budget
New Delhi, Feb 1 (PTI) Welfare of the poor is an important aspect of the Union Budget which is full of possibilities for more investments, infrastructure and jobs, Prime Minister Narendra Modi said on Tuesday. Calling the budget "people-friendly and progressive", Modi said it has brought new confidence to usher development in the midst of [...]
Crypto players welcome tax move for legitimising bets on risky assets, even as law awaits
Mumbai, Feb 1 (PTI) The crypto ecosystem has welcomed Finance Minister Nirmala Sitharaman's proposal for a 30 per cent tax on digital assets for legitimising bets on the assets considered as very risky by the RBI, even as a law on regulating such activity is awaited. In her Budget Speech, Sitharaman has proposed the tax [...]
Union budget lacks special provision for farmers, common man: Rajasthan CM
Jaipur, Feb 1 (PTI) Rajasthan Chief Minister Ashok Gehlot on Tuesday said the Union budget will further lead to rise in fiscal deficit and has no special provision for farmers, common man, poor and women. "The fiscal deficit of the central government has doubled in the last seven years. After this budget, the deficit is [...]
Direct tax collections exceed Budget estimates after 3 years
New Delhi, Feb 1 (PTI) After a gap of three years, direct tax collections -- which include corporate tax and personal income tax -- have exceeded the Budget estimates for FY'22, indicating economic recovery.As per the Budget document, the government has revised upwards the direct tax collection estimates for 2021-22 fiscal from Rs 11.08 lakh [...]
Highlights of Budget for 2022-23
Following are the highlights of the Union Budget for 2022-23 presented by Finance Minister Nirmala Sitharaman in Parliament on Tuesday: FISCAL POSITION -- India’s growth estimated at 9.2 pc, to be highest among large economies -- Fiscal deficit in 2022-23 estimated at 6.4 pc of GDP -- Total expenditure in 2022-23 pegged at Rs 39.45 [...]
Sri Lanka to buy fuel from Indian Oil to tide over energy crisis
Colombo, Feb 1 (PTI) Sri Lanka has decided to purchase petrol and diesel, 40,000 metric tonnes each, from the Indian Oil Corporation, according to a Cabinet note on Tuesday, as part of the government's bid to tide over the current fuel and energy crisis faced by the island nation. The move came weeks after Power [...]
Govt to infuse Rs 44,720 cr into BSNL in 2022-23; Rs 3,300 cr for VRS
New Delhi, Feb 1 (PTI) The government will infuse Rs 44,720 crore into loss-making state-owned telecom firm BSNL in the next financial year, according to Budget documents. "The provision is made for capital infusion for 4G spectrum, technology up-gradation and restructuring in BSNL," the explanatory note in the document said. Besides the capital infusion, the [...]
M&M total sales increase 20% in January
New Delhi, Feb 1 (PTI) Mahindra & Mahindra (M&M) on Tuesday said its total sales increased by 19.55 per cent to 46,804 units in January 2022. The company's total sales stood at 39,149 units in January 2021. The Mumbai-based auto major's passenger vehicle sales in the domestic market stood at 19,964 units last month as [...]
Centre to borrow Rs 11.6 lakh cr in FY’23 to meet expenses
New Delhi, Feb 1 (PTI) The government will borrow about Rs 11.6 lakh crore from the market in 2022-23 to meet its expenditure requirement. This is nearly Rs 2 lakh crore higher than the current year's Budget estimate of Rs 9.7 lakh crore. Total market borrowings of the government for 2022-23 are estimated at Rs [...]
Sitharaman presents Budget amid opposition taunts, applause from treasury benches
New Delhi, Feb 1 (PTI) Lok Sabha members heard Finance Minister Nirmala Sitharaman's 90-minute budget speech in rapt attention, barring the occasional remarks by opposition members and regular applause from the treasury benches. Keeping in line with changing times, Sitharaman read out the speech from a 'Made in India' tablet personal computer which she carried [...]
Total investment by power PSUs to rise 5% to Rs 51k cr in FY23
New Delhi, Feb 1 (PTI) The government has proposed to increase the total investment by eight state-owned power companies by about five per cent to Rs 51,470.14 crore for financial year 2022-23. This compares to revised estimate of Rs 49,006.30 crore for the current financial year. According to the budget document presented in Parliament on [...]
Scope of single-window portal for giving green nod to projects to be expanded: FM
New Delhi, Feb 1 (PTI) The government on Tuesday said single- window portal PARIVESH, launched for giving green nod to projects, has been significantly instrumental in reducing the time required for approvals and stressed that its scope will be expanded to provide information to the applicants. PARIVESH is a web-based, role-based workflow app developed for [...]
Govt revokes anti-dumping duties on certain steel products
The government on Tuesday announced revoking of anti-dumping duties on certain steel products imported from countries including China, a move aimed at containing high prices of metals and promoting domestic manufacturing. Countervailing duty (CVD) is also being permanently removed on imports of certain hot-rolled and cold-rolled stainless steel flat products from China. "Certain anti-dumping and [...]
President Xi’s widening crackdown on corruption gives jitters to Chinese biz leaders
Beijing, Feb 1 (PTI) As China entered the new lunar year of Tiger on Tuesday, the inclusion of the vague phrase of "colluding with capital" in the anti-graft campaign launched by President Xi Jinping’s ruling Communist Party has sent shock waves across the country and raised concerns of an intensification of the crackdown against the [...]
Honda Cars reports 3% dip in total sales at 12,149 units in Jan
New Delhi, Feb 1 (PTI) Honda Cars India Ltd (HCIL) on Tuesday reported a 3 per cent decline in total sales at 12,149 units in January. The company had sold a total of 12,552 units in the same month last year. Domestic sales were at 10,427 units last month compared to 11,319 units in January [...]
Budget: Govt plans paradigm change in urban planning; proposes to set up expert committee
New Delhi, Feb 1 (PTI) Finance Minister Nirmala Sitharaman on Tuesday said the government plans to bring a "paradigm change" in urban planning in view of the rapid urbanisation in the country and announced setting up of a high-level expert panel for making suggestions on policy matters, capacity building and implementation."By the time of India [...]
Budget: India’s fiscal deficit pegged slightly higher at 6.9% in FY22
New Delhi, Feb 1 (PTI) The country's fiscal deficit is projected to be higher at 6.9 per cent this fiscal as against 6.8 per cent estimated earlier, with Finance Minister Nirmala Sitharaman emphasising the need for stronger and sustainable growth through public investment. The marginal rise in fiscal deficit for the current fiscal is against [...]
Kauvery Hospital Successfully Performs a Rare Kidney Transplant on a 19-year-old Boy
Mother becomes a compatible donor for the boy despite Blood Group Incompatibility with 100% Genetic Match Chennai, Tamil Nadu, India (NewsVoir) • First time, two different blood groups found compatible to perform a Kidney Transplant • 100% Genetic match an added advantage in performing a successful transplant Kauvery Hospital Chennai, a unit of Kauvery Group [...]
Coal India’s production rises 7% in Jan
New Delhi, Feb 1 (PTI) State-owned CIL's production registered an increase of 6.7 per cent to 64.5 million tonnes (MT) in January. The company's output in the corresponding month of the previous financial year had stood at 60.4 MT, Coal India Ltd (CIL) said in a filing to the BSE. CIL's output in the April-January [...]
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