Business

Paytm surges 4% on reappointment of Vijay Shekhar Sharma as MD

Shares of One97 Communications, which operates the financial services platform Paytm, gained nearly 4 per cent on Monday after shareholders of the company approved the re-appointment of Vijay Shekhar Sharma as managing director and chief executive officer of the company. The resolution to reappoint Vijay Shekhar Sharma as Paytm’s...

Aug 22 · >

Radhakishan Damani to head Rakesh Jhunjhunwala Trust

Trusted friend, guru and ace investor-entrepreneur Radhakishan Damani is understood to be the main trustee of ace investor Rakesh Jhunjhunwala’s estate. The other trustees include Kalpraj Dharamshi and Amal Parikh, both confidantes of Jhunjhunwala. Jhunjhunwala’s firm Rare Enterprises will continue to be managed by his two trusted lieutenants Utpal...

Aug 22 · >

GST rate hikes to pressure prices upwards: RBI

The impact of recent changes to GST rates and somewhat uneven distribution of the southwest monsoon rainfall with the deficiency in the eastern region of the country could be a source of upward pressure on prices, according to the minutes of the RBI’s Monetary Policy Committee (MPC). It also...

Aug 22 · >

M-cap of five of top-10 firms declines Rs 307 billion

Five of the top-10 valued firms together lost Rs 30,737.51 crore in market valuation last week. In the holiday-shortened week, the Sensex advanced 183.37 points or 0.30 per cent. While Reliance Industries, Tata Consultancy Services, ICICI Bank, State Bank of India and Bajaj Finance were the laggards from the...

Aug 22 · >

Centre denies plan to import wheat, says stocks sufficient

The government has no plan to import wheat into India and the country has sufficient stocks to meet its domestic requirements and the Food Corporation of India (FCI) has enough stock for public distribution. The Department of Food & Public Distribution said this on Sunday in response to media...

Aug 22 · >

Real-time payments solution UPI to remain free

The Finance Ministry on Sunday said United Payments Interface (UPI) is a digital public good and there is no consideration in the government to levy any charges on this. This statement allays fear emanating from the RBI’s discussion paper on charges in the payment system suggesting that UPI payments...

Aug 22 · >

Retail inflation in July falls to 6.7%

The retail inflation in India, based on the Consumer Price Index (CPI), declined to 6.7 per cent in July, compared with 7.01 per cent in the previous month. This is the third month in a row to see an easing in the retail inflation. food inflation in July 2022...

Aug 13 · >

India’s exports up 2.14% to $36.27 billion in July; trade deficit triples

India’s exports rose by 2.14 per cent to $36.27 billion in July while the trade deficit almost tripled to $30 billion during the month, according to official data released on Friday. Imports shot up by 43.61 per cent to $66.27 billion in the month compared to July 2021, the...

Aug 13 · >

IRCTC shares decline despite 251% jump in June quarter revenue

IRCTC Shares Today: Indian Railway Catering and Tourism Corporation (IRCTC) shares were trading lower in the opening trade on Thursday morning. IRCTC posted a 196 per cent surge in its net profit, at Rs 246 crore, for the quarter ending June 30, 2022-23 (Q1 FY23). It reported a net...

Aug 12 · >

Stocks: Aurobindo Pharma, LIC, ONGC, Hero MotoCorp, and others

The stock market witnessed healthy performance and closed at a four-month high in the last session following a decline in US inflation for July, but overall it was a rangebound session. The BSE Sensex rallied more than 500 points to 59,333, while the Nifty50 rose 124 points to 17,659. Results...

Aug 12 · >