Marketmen said apart from increased buying by jewellers and retailers to meet upcoming festive season demand, a firming global trend on speculation prices near an eight-month low will spur more buying as the US Federal Reserve begins a two-day policy meeting, also boosted the sentiment.
Almost half the overall projects costing at least Rs 150 crore (Rs 1.5 billion) are facing a time lag as on March 31. Of 558 projects, 272 were running late when FY13 came to an end, official data showed.
Unified Payments Interface launched to simplify mobile banking.
The S&P BSE Sensex gained 115 points to end at 24,338 and the Nifty50 climbed 42 points to close at 7,404.
Markets end in the red, midcaps in focus
P S Jayakumar, managing director and chief executive officer, Bank of Baroda, speaks to Abhijit Lele & Hamsini Karthik about loan recoveries, sounding more confident than a year before.
Sahara has ploughed at least Rs 1,500 crore from two of its credit cooperatives into the Aamby Valley resort project
The Rs 2,460-crore (Rs 24.60 billion) Mumbai Monorail project, which was to be completed by 2010 and was later rescheduled for December 2012, is still under construction.
It's award-winning diesel engines is already part of many cars in India.
The car will compete with Hyundai Grand i10 and Maruti Suzuki Celerio
'There is no need to do anything, let your SIPs get deducted every month, and stick to your allocation between equity, fixed income and emergency funds and your risk covers.'
Corporate income tax collections grew 24 per cent to Rs. 2,23,612 crore (Rs. 2,236.12 billion), up from Rs. 1,80,318 crore (Rs. 1,803.18 billion) in the first 11 months last year.
The public-private partnership model is a compulsion, says the minister.
Jaypee, Essar, GMR, GVK, Lanco, Abhijeet groups debt rise despite falling cash flow, says UBS
The new obsession on cost control is powered by the company's 'GEAR' (Generate idea, evaluate, action and realise the idea) programme.
In the corresponding period of the last financial year, fiscal deficit was 39.4 per cent of the estimates.
The country's largest lender State Bank of India on Wednesday said it has reduced its marginal cost of fund-based lending rate (MCLR) by up to 15 basis points across various tenures, effective March 10. The bank has reduced its one-year MCLR by 10 basis points to 7.75 per cent from the earlier 7.85 per cent, SBI said.
The Rs 2,460-crore project, an initiative of the Mumbai Metropolitan Regional Development Authority, is a modern urban transport where cars move on a single beam in an elevated corridor.
The savings would be better spent and might actually reach the poor, says Rahul Khullar.
L&T, Ircon International and Tata Projects have showed interest in a tender issued by the National High Speed Rail Corporation, implementing agency for the project. The tender is for construction of stations, bridges, viaducts, maintenance depots and tunnels.
The European unit has a total steelmaking capacity of 18 million tonnes.
Gold in London, which normally sets price trend on the domestic front, fell 0.6 per cent to $1,311.65 an ounce.
Silver, however, met with resistance and traded lower by Rs 200.
The situation could become more acute as millions of migrants who had returned to their villages during the lockdown come back to the towns for higher wages and better livelihoods.
After staging a strong recovery from COVID-induced slowdown in 2021, India's exports are likely to extend the growth story to the New Year also on increased demand in the global markets, boost in domestic manufacturing due to production-linked incentive schemes and implementation of some interim trade pacts. Expectations of positive growth in the country's exports are also backed up by the outlook of the World Trade Organisation (WTO) which predicts a 4.7 per cent expansion in the global merchandise trade volume in 2022. Exporters believe that the outbound shipments would cross $400 billion mark in this fiscal going by the current momentum and may reach $475 billion in 2022-23.
Kingfisher Airlines has reduced its fares on the Mumbai-Bangalore route to Rs 2,999.
ICICI Bank Ltd, India's biggest private sector lender, posted its slowest quarterly growth in four years as asset quality worsened and funds set aside for bad loans and contingencies almost doubled from a year earlier.
Gold plunged by Rs 340 to Rs 30,660 per ten grams in the national capital on Friday on fall in demand amid a steep decline in the global markets.
UB Holdings had appealed to the bench, of judges Dilip B Bhosale and B Manohar, to let it use Rs 13 crore (Rs 130 million) from a Rs 380-crore (Rs 3.8 billion) deposit to pay a month's salary to employees of the grounded airline and Rs 47 crore (Rs 470 million) to settle tax dues on capital gains made from the sale of a stake in United Spirits to London-based Diageo that got it Rs 1,460 crore (Rs 14.6 billion).
The incident took place on Sunday when a pandal fell on the people due to strong winds and heavy rains during a religious programme.
Minister of State for Finance Shripad Naik on Thursday exuded confidence that the overall tax collection would exceed the budget target of Rs 2,41,460 crore (Rs 2,414.60 billion) this fiscal.
Mumbai electricity consumers do not have to face powercuts for a while. The Maharashtra Cabinet subcommittee chaired by Chief Minister Ashok Chavan on Thursday intervened to resolve the ongoing dispute between Tata Power and Reliance Infrastructure over power purchase.
The Duncans Goenka group is in a spot of bother over the death of workers and non-payment of dues to employees.
To keep investors' confidence, however, Modi's government will need to be seen containing the fiscal deficit, while also increasing spending in key areas of the slowing economy.
The Mars mission is overwhelmingly irrelevant to space science and won't advance the frontiers of knowledge. It will divert attention from the real technological challenges facing the Indian space programme, and will further distort our science and technology priorities, says Praful Bidwai.
Revenue collections will be on target at around Rs 2,50,000 crore (Rs 2,500 billion) this fiscal in view of the impressive direct tax mop-up, Minister of State for Finance Shripad Naik said on Friday.
