Business - The Purbottar

19 Jul

HDFC Bank shares tumble 3 pc after Q1 data disappoints investors

editor0 CommentsBusiness, IndiaHDFC Bank

Shares of HDFC Bank dipped over 3 per cent on Monday as the company’s June quarter earnings failed to impress investors. At 3.57 pm, the banks stock went lower by 3.34 per cent to Rs 1,470.95 on the BSE and it dipped 3.28 per cent to Rs 1,472.40. HDFC Bank’s consolidated net profit for the June quarter increased 14 per cent to Rs 7,922 crore, but the largest private sector lender reported reverses because of the second wave of the pandemic, which compressed its growth. When compared with the preceding March quarter’s Rs 8,434 crore, there was a decline in…

18 Jul

Google Doodle celebrates Kadambini Ganguly on her 160th birth anniversary. Who was she?

editor0 CommentsBusinessGoogle

Google is honouring its special doodle section to Kadambini Ganguly - India's first female doctor. On Kadambini Ganguly's 160th birth anniversary, the search engine included a sketch of Ganguly, a doctor's stethoscope and Calcutta Medical College where she studied to become a doctor in 1886. As per reports, the Google Doodle has been illustrated by Bengaluru-based artist Oddrija. So who exactly is Kadambini Ganguly? She was born on 8 July, 1861, in Bhagalpur British India, now Bangladesh. Her father, who used to run a women's rights organisation, enrolled her into school at a time when education for women was an…

17 Jul

Reliance Retail to acquire controlling stake in Just Dial for Rs 3,497 cr

editor0 CommentsBusiness, IndiaReliance Industries

Reliance Retail Ventures Limited (RRVL), Just Dial and VSS Mani and others on Friday executed definitive agreements which will entail preferential allotment of 2.12 crore equity shares, equivalent to 25.33 per cent post preferential share capital, at a price of Rs 1,022.25 per share. Post the agreements, RIL will acquire 1.31 crore equity shares by RRVL from VSS Mani (equivalent to 15.62 per cent post preferential share capital) at a price per share of Rs 1,020. RRVL will hold 40.95 per cent and would make an open offer to acquire up to 26 per cent stake in accordance with takeover…

17 Jul

Mahindra launches the new ‘Bolero Neo’

editor0 CommentsBusinessBusiness

Mahindra & Mahindra Ltd., one of the leading automobile companies in India launched the newest member in its iconic Bolero SUV portfolio - the new ‘Bolero Neo’. Available at all Mahindra dealerships across India, the new Bolero Neo is launched at an introductory price of 8.48 Lakh for the N4 variant. With the launch of Bolero Neo, the Bolero SUV portfolio would now have the existing Bolero for the loyalist and the new Bolero Neo for the evolving customer who is looking for an SUV that is tough, authentic, go-anywhere capability yet modern and trendy. The Bolero Neo Packed with…

16 Jul

Indian economy to witness substantial slack in FY22

editor0 CommentsBusiness, IndiaBusiness, INDIANECONOMY

Reserve Bank of India (RBI) has said that there will be “substantial slack” in growth for the Indian economy, although it is poised to recover and witness positive growth in the current fiscal. The RBI Bulletin for July 2021 noted that the economy is struggling to regain the momentum of recovery that had started in the second half of 2020-21 but was interrupted by the second wave of Covid. “Even with a 9.5 per cent GDP growth in 2021-22, there will be substantial slack in the economy and demand pressures may take some more time to become evident,” it said.…

16 Jul

No fuel price hike on Friday

editor0 CommentsBusiness, IndiaFuel

Oil marketing companies kept the retail price of petrol and diesel unchanged on Friday to analyse the global oil price movement before making further revisions. Accordingly, petrol continues to be priced at Rs 101.54 a litre and diesel 89.87 a litre in the national capital. On Thursday, oil companies raised the price of petrol and diesel by 35 paise and 15 paise per litre respectively in the National capital taking the fuel rates to new highs. Across the country as well the fuel prices remained unchanged on Friday but the rates varied depending on the level of local taxes in…

15 Jul

Mastercard ban: RBL Bank’s credit card issuance to take hit, switches to Visa

editor0 CommentsBusiness, Indiabank, Business

RBL Bank said that its credit card issuance rate will be impacted post the Reserve Bank barring Mastercard Asia Pacific from onboarding new credit, debit and prepaid card customers with effect from July 22. RBL Bank, which currently issues credit cards on the Mastercard network only, said it has entered into an agreement with Visa Worldwide on Wednesday to issue credit cards enabled on the Visa payment network. The bank expects to start issuing credit cards on the Visa payment network post the technology integration, which is expected to take 8 to 10 weeks. “Our bank’s current run rate of…

15 Jul

L&T Tech Services shares zoom over 17 pc after Q1 earnings

editor0 CommentsBusiness, IndiaBusiness, l&t

Shares of L&T Technology Services (LTTS) on Thursday zoomed over 17 per cent after the company reported a massive jump in its June quarter net. At 1.54 pm, LTTS stock zoomed 17.72 per cent to Rs 3,426, with its 52-week high of 3447.35 at the BSE. L&T Technology Services on Wednesday reported an 84 per cent jump in its June quarter net at Rs 216.2 crore, largely on widening margins. The company, the engineering and research and development services arm of the infra major L&T, had posted a net profit of Rs 117.2 crore in the year-ago period. Its overall…

14 Jul

Adani Group in-charge of management Mumbai Int’l Airport after clearance from CIDCO, GoM

editor0 CommentsBusiness, IndiaBusiness

The Adani Airport Holdings Ltd (AAHL) has taken over the management control of Mumbai International Airport Limited (MIAL), India’s second busiest airport by both passenger and cargo traffic, from the GVK Group following a board meeting of MIAL held on Tuesday, as per a statement issued by its parent company Adani Enterprises Limited. This new move is in line with approvals were received from the Government of India, the City and Industrial Development Corporation (CIDCO) of Maharashtra, and the Government of Maharashtra. MIAL is India’s second busiest airport both in terms of passenger and cargo traffic. With eight airports under…

14 Jul

No fuel price hike for 2nd day in a row

editor0 CommentsBusiness, IndiaBusiness, Fuel

The oil marketing companies kept the retail price of petrol and diesel unchanged on Wednesday, the second consecutive day of no change, to analyse the global oil price movement before making further revisions. After crossing $77 a barrel, global crude prices have softened a bit with differences surfacing in oil cartel OPEC over continuation of production cuts and demand concerns over rising Covid cases in several European countries. With price pause on Wednesday, petrol continues to be priced at Rs 101.19 a litre and diesel at 89.72 a litre in the national capital. On Monday, oil companies had raised the…