Business

Jawa re-enters India with three new motorcycles starting Rs 1.5 lakh

Classic Legends, a subsidiary of Mahindra & Mahindra, on Thursday relaunched iconic Czech motorcycle brand Jawa in India. It will launch three new models — Jawa Forty Two, Jawa and Jawa Perak — which will be priced between Rs 1.55 lakh and Rs 1.89 lakh. In 2016, Mahindra and Mahindra had struck a deal with […]

Business

Japan’s Nikkei fell on Friday as a drop in semiconductor-related stocks weighed after U.S.’s Nvidia

The Nikkei share average opened slightly higher but was down 0.3 per cent at 21,733.17 points by midmorning. The Nikkei has dropped 2.2 per cent so far this week, hit mostly by a drop in oil prices and weakness in Apple suppliers and other tech shares. “It started with Apple, then Nvidia… Since performances of these companies […]

Business

Rupee rises 10 paise against US dollar to 71.87

The rupee firmed 10 paise to 71.87 against the US dollar Friday on increased selling of the US currency by exporters and banks. Besides, weakness in the greenback against some currencies overseas, increased foreign fund inflows and a higher opening of domestic equities supported the rupee, traders said. Foreign funds bought shares worth a net […]

Business

Rupee ends at fresh 2-month high of 71.93 despite oil rebound

The rupee on Friday strengthened by four paise to close at a fresh two-month high 71.93 against the US currency. The domestic currency continued its gaining streak for the fourth day, despite a rebound in oil prices and a stronger dollar. Increased selling of the US currency by exporters and banks and gains in domestic […]

Business

At WTO, India under increasing trade fire

Australia’s move Friday to refer India to the World Trade Organization (WTO) over subsidies paid to sugarcane farmers is the latest in a series of challenges and reverses in recent months. The action comes on the back of a November 12 filing by the US at the Geneva-based global trade regulator alleging that India has […]

Business

No proposal yet for Jet airways takeover: Tatas

The Tata group on Friday said there have been preliminary discussions on the acquisition of struggling Jet Airways but it has not made any formal proposal for buying out the 51 per cent stake held by the Naresh Goyal family in the airline which has accumulated losses of over Rs 12,000 crore till the September […]

Business

Myntra, Jabong to merge; Narayanan will continue as CEO

Online fashion retailer Myntra will integrate its sister firm Jabong with itself and the integrated firm will continue to be led by Myntra CEO Ananth Narayanan. The two will, however, continue to operate as separate brands, a statement from Myntra said on Friday. The statement also denied speculation that Narayanan has resigned from the firm post the stepping down […]

Business

SC stays CCI order imposing Rs 420-crore fine on Hyundai

The Supreme Court on Friday stayed the Competition Commission of India’s order that imposed over Rs 420-crore penalty on the country’s second-largest car maker Hyundai Motors India for anti-trade practices including lack of standardisation of spare parts and allowing original equipment suppliers (OESs) to sell spare parts in the open market without any restrictions. A […]

Business

Delhi airport: Air fares shoot up by 86 per cent on runway closure

The partial runway closure and subsequent cancellation of flights at the Delhi airport have led to a sharp rise in last-minute average fares with rates on some key sectors shooting up to 86 per cent amid high weekend travel demand, industry experts claimed Friday. Delhi International Airport Ltd (DIAL), the private aerodrome operator, had early […]

Business

OYO appoints former IndiGo President Aditya Ghosh as CEO India & South Asia

Hospitality firm OYO said Thursday it has appointed former IndiGo President Aditya Ghosh as the chief executive officer for India and South Asia, effective from December 1 this year. The appointment comes in wake of the company’s focus to drive accelerated growth in its home markets — India and China, OYO said in a statement. Aditya […]

Business

Sensex ends 119 pts higher, Nifty breaches 10,600 mark

The BSE benchmark Sensex ended 119 points higher Thursday and the broader Nifty went past the 10,600 mark on positive investor sentiment amid easing crude oil prices and firm rupee. The 30-share index opened a shade higher at 35,145.75 points, hovered in the range of 35,402 and 35,118.42, before ending the session at 35,260.54, with […]

Business

Need to use growth as a tool to pull people out of poverty: Arun Jaitley

Finance Minister Arun Jaitley Thursday said high growth is needed to pull people out of poverty and such economic expansion must be inclusive. He said the government has implemented a number of measures to improve financial inclusion and create an insurance and pension net for poor people. An aspirational society cannot wait indefinitely for the benefits of […]

Business

Essar seeks hearing before orders passed

Essar Steel Asia Holdings (ESAH), the holding company of Essar Steel, has approached the National Company Law Tribunal (NCLT) asking it be allowed to plead its case before any orders are passed. ESAH has filed a caveat petition in the NCLT Ahmedabad bench which has been hearing the insolvency case against the firm. Legal experts […]

Business

Fitch also listed the IL&FS defaults and the rising bad loans as risks.

Global rating firm Fitch on Thursday retained its sovereign rating for the country at ‘BBB-’, the lowest investment grade with a stable outlook, saying a weak fiscal position continues to constrain the ratings and there were significant risks to macroeconomic outlook. Fitch had last upgraded India’s sovereign rating from ‘BB+’ to ‘BBB-’ with a stable […]

Business

RBI data counters RBI claim: Credit to small firms shrinks

While the Reserve Bank of India said two weeks ago that there is no sign of a liquidity crunch, its own latest data shows that banks’ credit outstanding to the Micro, Small and Medium Enterprises (MSMEs) sector has seen a contraction for the first time in 14 months in September 2018. This is the month […]

Business

Nikkei falls as Nvidia’s poor results dent chip sector

Japan’s Nikkei fell on Friday as a drop in semiconductor-related stocks weighed after U.S.’s Nvidia disappointed the market with worse-than-expected earnings. The Nikkei share average opened slightly higher but was down 0.3 per cent at 21,733.17 points by midmorning. The Nikkei has dropped 2.2 per cent so far this week, hit mostly by a drop […]

Business

Rupee rises 10 paise against US dollar to 71.87

The rupee firmed 10 paise to 71.87 against the US dollar Friday on increased selling of the US currency by exporters and banks. Besides, weakness in the greenback against some currencies overseas, increased foreign fund inflows and a higher opening of domestic equities supported the rupee, traders said. Foreign funds bought shares worth a net […]

Business

Tata Steel second quarter net rises threefold to Rs 3,116 crore

Tata Steel on Tuesday beat analyst estimates on all fronts as it reported a threefold rise in the consolidated net profit on a year-on-year basis to Rs 3,116 crore for the July-September 2018 period, as the company recorded strong revenues during the quarter. Net sales in Q2FY19 grew 34 per cent y-o-y to Rs 43,544 […]

Business

Market ends flat after choppy trade; pharma, IT stocks crack

Benchmark equity indices gave up early gains to end a shade lower at 35,141.99 after a highly volatile session Wednesday as losses in pharma and information technology shares offset gains in energy, banking and metal stocks, amid weak global cues. The BSE Sensex swung nearly 365 points both sides on heavy buying and selling during […]

Business

RBI survey for 2017: Four southern states account for 46% of $69 billion overseas remittances

The Southern states of Kerala, Karnataka, Tamil Nadu and Andhra Pradesh accounted for a share of 46 per cent — or $31.74 billion (Rs 2,30,900 crore) — of total remittances of $69 billion from abroad with Kerala, which received $13.11 billion (over Rs 95,000 crore), topping the list during the year 2017, a Reserve Bank […]