Saturday, Dec 07, 2019 | Last Update : 03:07 PM IST

Economy

Notwithstanding the upturn, the headline figure remained below its long-run average of 54.2, the survey added. (Photo: Representational)

Services output expands for first time in 3 months: PMI

The IHS Markit India Services Business Activity Index improved to 52.7 in November from 49.2 in October.

Of the five mines, two were allocated to Birla Corporation Ltd and one each to Vedanta Ltd, Prakash Industries Ltd and Powerplus Traders Pvt Ltd.

Govt approves allocation of 5 coal blocks, to generate Rs 17,136 cr revenue

The ministry of coal, after a long gap of four years, has approved the allocation of five coal mines, the ministry said in a statement.

The RBI minutes from October policy review underscored the monetary policy committee members' unanimous decision to keep rates lower.

RBI may cut rates in December: report

A modest overshoot in recent inflation outruns is outweighed by downside risks to RBI's growth estimates.

The fiscal deficit target of 3.4 per cent of GDP is likely to slip, DK Joshi, the chief economist at the rating agency crisil said here on Friday.

Govt will be forced to slash spending this year too: Crisil

GDP growth slipped to 5 per cent in the first quarter, is expected to be worst in the second quarter- sub 5 per cent.

The forex reserves had risen by USD 1.879 billion to a new record high of USD 439.712 billion in the previous reporting week.

Forex reserves cross USD 440 billion mark, up by USD 1.04 billion

The value of the gold reserves increased by USD 82 million to USD 26.861 billion for the week, the RBI said.

Market

The NSE barometer Nifty added 22.50 points to 12,040.90. (Photo: File)

Benchmark equity indices edge up in early deals

The BSE gauge Sensex moved 103.13 points higher to trade at 40,882.72 in opening deals.

Similar movement was seen on the NSE and the broader NSE Nifty was trading 11.25 points, or 0.09 per cent, down at 12,031.95 at 1212 hrs.

Sensex drops over 100 points as RBI leaves policy rate unchanged

BSE Sensex was trading 100.56 points, lower at 40,749.73 at 1149 hours.

Prices of gold had closed at Rs 38,921 per 10 gram on Thursday.

Gold falls marginally, silver rises Rs 52

Gold is trading at Rs 38,895 per 10 gram in the national capital, according to HDFC Securities.

The BSE mid-cap index advanced 0.52 per cent while small-cap rose by 0.33 per cen (Photo: File)

Nifty forms a bullish candle

The Sensex closed at 40,850.29 up by 174.84 points or 0.43 per cent, while the Nifty rose by 43.10 points or 0.36 per cent to end at 12,037.30.

Companies

Around 78,300 employees of BSNL and 14,378 of MTNL have opted for the scheme.

92,700 BSNL, MTNL employees opt for voluntary retirement

The PSUs had set December 3 as last date for employees to opt for VRS.

The board for now has given its go-ahead to raise up to USD 3 billion. (Photo: PTI)

Bharti Airtel board approves raising up to USD 4 billion

The company has received an approval to raise USD 1 billion through foreign debt instrument.

SBI shares closed at Rs 341.90 on BSE, up 1.70 per cent from the previous close.

SBI okays to dilute 8.25 pc stake in UTI AMC initial public offer

The bank said it offers to sale up to 1,04,59,949 equity shares subject to approval from the Sebi.

State-run BSNL recorded gross revenue of Rs 3,222.91 crore.

Telcos garner Rs 54,218 cr gross revenue in July-Sept

The government levies 8 per cent as licence fee and SUC in the range of 3-5 per cent of AGR based on spectrum holding of the company.

Aditya Birla Group chairman Kumar Mangalam Birla. (Photo: File)

Vodafone Idea will shut in absence of govt relief: Birla

We will have to shut shop, chairman Voda Idea Kumar Mangalam Birla said on a query about the course of action for the company.

Autos

German luxury carmaker Mercedes-Benz also said the company is mulling over a similar price increase.

Maruti to hike prices from Jan, M&M, Toyota, Mercedes may follow suit

This price increase shall vary for different models, the company said.

The BS6 Honda CB Shine is likely to feature design changes apart from emission compliance.

BS6 Honda CB Shine SP to get a power boost

The upcoming Honda CB Shine SP bike will get fuel injection too.

Mercedes-Benz, India’s largest German luxury car maker, which showcased Mercedes GLC SUV facelift earlier this year at the 2019 Geneva Motor Show, has now launched it in India.

Mercedes-Benz GLC facelift for Rs 52.75 lakh

At present, the Pune-headquartered Mercedes-Benz offers the largest SUV portfolio in the luxury car segment in the country at eight SUVs.

CFMoto, the Chinese motorcycle manufacturer, is the latest to enter the lucrative 21.18 million Indian motorcycles market by opening its first showroom in India at Thane, near Mumbai on Wednesday and it introduced four motorcycle models to lure buyers.

Chinese bike maker CFMoto enters India

The Chinese firm has partnered with the Indian Anvita Autotech Works company to form a joint venture to sell the Chinese motorcycles.

In Other News

Consumer confidence in the country continued to weaken in November and dipped to the lowest level since Narendra Modi came to power in 2014.

Consumer confidence dips to 5-year low

The Future Expectations Index that assesses the one-year ahead expectations also fell to 114.5 from 118.0. It has been falling since March 2019.

Post-festive season, the bullion dealers and jewellers found an opportunity to replenish their stocks when the prices fell by around Rs 200 per gm from record high levels in the domestic market.

Gold imports surge 78 per cent in November

The country imported 71 tonnes of gold in November, compared with 40 tonnes in October, reports quoting government officials said.

As per the data released, banks have given Rs 27,225 crore as home loan, Rs 11,088 crore as vehicle loans and Rs 1,111 crore as education loan during the two months.

Public sector banks disburse Rs 4.91 lakh cr loan during Oct-Nov

Banks disbursed Rs 2.52 lakh crore of loans in October and Rs 2.39 lakh crore in November.

Onion prices have been ruling high for past few weeks due to fall in production of the Kharif crop following unseasonal rainfall in key growing states, including Maharashtra.

Retail onion prices touch Rs 140 per kg mark in some cities

The average modal price of onion in the retail markets was ruling at Rs 110 per kg

Insurance regulator’s decision mandating NABH accreditation for Ayush hospitals for getting insurance coverage will exclude more than 95 per cent of the facilities in the country.

NABH rule will deny cover to 95 per cent Ayush hospitals

While NQAS is mainly meant for government institutions, private hospitals require NABH accreditation.