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

Business

Govt working on more measures to boost economy: Sitharaman

The Indian Real Estate sector, one of the most globally recognised sectors in the world, is well complemented by the demand for office spaces as well as urban and semi-urban accommodations.

4 key challenges in Indian real estate segment

DHFL, admitted for bankruptcy proceedings on December 3, has two insurance joint ventures -- DHFL Pramerica Life Insurance and DHFL General Insurance.

DHFL bankruptcy: Irdai rules out troubles for two insurance arms

The RBI has asked the member banks to keep adequate liquidity in their current account with the regulator at all times to facilitate successful posting of NEFT batch settlements. (Photo: ANI)

NEFT transactions to be available 24x7 from Dec 16

RBI to retain dovish bias going forward: report

Public sector banks that are merger candidates may be allowed to hold more than 10 per cent stake in two insurance companies after their merger comes into effect provided they give up management control in one of them.

PSBs may get nod to hold over 10 per cent in two insurers

The exposure of insurance companies to the debt-laden DHFL will have to be written off using due process, said Irdai Chairman Subhash Chandra Khuntia.

Write off DHFL exposure

In fact, Kia Motor aims to launch one new product every six months in India to keep ahead of crowded competition.

Kia set to shake up SUV market

Anticipating a ‘bailout option’ from the government to save the company from closure, Vodafone Idea Chairman Kumar Mangalam Birla said on Friday there is no sense that good money should follow bad money. (Photo: File)

Voda Idea to shut down if no relief comes: Kumar Mangalam Birla

The Sensex fell 334.44 points or 0.82 per cent to settle at 40,445, while Nifty shed 96.90 points or 0.81 per cent to close at 11,921.50.

Momentum indicators are weakening

But the sorry part is that 93 per cent of the weaver households earn less than Rs 10,000 per month and 67 per cent earn less than Rs 5000.

Most weavers earn less than Rs 10,000

Believe it or not, an average adult Indian eats more snacks than meals on a given day. (Photo: AP)

India is snacking nation, finds global survey

Higher coverage of wheat was reported from Madhya Pradesh, Rajasthan and Himachal Pradesh. (Photo: File)

Wheat sowing up 4.28 per cent at 202.54 lakh hectares so far

At the interbank foreign exchange market, the local unit opened at 71.30 and shuttled between a high of 71.19 and a low of 71.43. It finally finished at 71.20, lower by 9 paise.

Rupee settles 9 paise up at 71.20 against US dollar

A day after the Reserve Bank surprisingly maintained status quo in its key policy rates and projected slower economic growth, investors turned cautious on Friday, weighed by weak macro indicators. (Photo: File)

Sensex slumps over 334 points; Nifty tumbles below 12,000

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.

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