North East - The Purbottar

07 Feb

LIC Valuation Yet To Be Decided, Will Speak To Staff On IPO: Chairman

editor0 CommentsNorth East

The divestment of Life Insurance Corporation (LIC) by the government will not cause any problems for the company's employees, chairman MR Kumar told NDTV on Friday. There will be a reaction by the staff but the company will talk to them, said the LIC chairman, assuring that the proposed stake sale will not lead to its privatisation of the insurer. In the Union Budget for 2020-21, the government proposed to divest a part of its stake in LIC in a move that could result in the partial listing of the country's largest insurance company, which led to protests by the…

07 Feb

Sensex, Nifty Snap Four-Day Winning Streak Led By Losses In Reliance Industries, HDFC

editor0 CommentsBusiness, North East

S&P BSE Sensex and NSE Nifty 50 indexes snapped their four-day winning streak dragged by losses in Reliance Industries, Kotak Mahindra Bank, ICICI Bank, Larsen & Toubro, IndusInd Bank and Bharti Airtel. Since the Budget, which was presented by Finance Minister Nirmala Sitharaman on Saturday, the Sensex has and Nifty have surged 4 per cent each. Concerns about the economic impact from a coronavirus epidemic led to a downturn in global sentiment which impacted Indian stocks as well. Asian share markets fell on Friday and oil price gains stalled, as the growing death toll and economic damage from the coronavirus…

06 Feb

Free online learning for everyone as National Skill Development Corporation announces its partnership with Salesforce

editor0 CommentsNorth East

National Skill Development Corporation has announced its partnership with Salesforce, the global leader in customer relationship management. It will help to enhance NSDC’s skill development and capacity building initiatives through Salesforce’s Trailhead with free online learning platform that empowers anyone to skill up and increase one’s job prospects in the digital economy. The explosion of technological innovation in the Fourth Industrial Revolution is creating a massive demand for new-age skills. By 2022, more than 120 million workers will need reskilling due to advances in artificial intelligence (AI) and automation. According to the World Economic Forum, on average, an Indian worker today needs about 100 days for…

06 Feb

Bharti Airtel Inches Higher Despite Loss In Third Quarter

editor0 CommentsBusiness, North East

Bharti Airtel is trading marginally in the green, albeit off the highs of the day, after reporting third straight quarterly loss after market hours on Tuesday. India's third largest telecom firm posted a loss of Rs 1,035 crore for the three months ended December 31 compared with a profit of Rs 86.2 crore a year earlier. The loss, however, narrowed from a whopping Rs 23,044 crore in the September quarter.At 11:30 a.m, the shares of Bharti Airtel were trading higher by Rs 2 or 0.3 per cent at Rs 521 on the BSE amid the Sensex's gains of 0.3 per…

06 Feb

RBI Keeps Lending Rate Unchanged At 5.15%, Pegs Growth At 6% In 2020-21

editor0 CommentsNorth East

The Reserve Bank of India (RBI) kept the repo rate unchanged at 5.15 per cent on Thursday, in line with economists expectations, in a bid to combat inflation. The central bank, however, retained its accommodative monetary policy stance as growth remains lacklustre. RBI Governor Shaktikanta Das-led Monetary Policy Committee decided to continue with an "accommodative" policy stance "as long as it is necessary to revive growth, while ensuring that inflation remains within the target". The "underlying theme of our decisions is financial stability", said the RBI governor. All six members of the Monetary Policy Committee voted in favour of maintaining…

06 Feb

Weak Growth To Pull Down Rupee, Coronavirus Fears To Impinge

editor0 CommentsNorth East

The battered rupee will weaken further against the dollar over the coming year as a significant pickup in economic growth is unlikely, according to a Reuters poll of strategists who said the coronavirus outbreak was a downside risk.While Reserve Bank of India Governor Shaktikanta Das has said reviving growth was a 'national objective' in coordination with the government, the latest budget provided only minimal support to the slowing economy.That comes as a deadly coronavirus epidemic that is spreading globally has spooked investors and sent them rushing for cover into safe-haven assets and shunning emerging markets.

05 Feb

XLRI Achieves 100% Placement in two days at Final Recruitment Process 2020

editor0 CommentsNorth East

XLRI- Xavier School of Management has successfully achieved 100% placements for the outgoing batch of 2018-20 of its flagship programs: Two-year Postgraduate Diploma in Management – Human Resource Management and Two-year Postgraduate Diploma in Management - Business Management with all 359 candidates securing offers through the final recruitment process within two days. The Final Recruitment process saw participation from 108 recruiters with 362 domestic and international offers, inclusive of 24 new finals recruiters. Fr. J Christie, Director, XLRI - Xavier School of Management commented, “We are happy to announce that this year’s placement season has once again witnessed remarkable success in spite of the longish economic slowdown. Interest in XLRI’s students has been…

04 Feb

Coming Up, LIC And Other Multi-Billion Dollar IPOs In India

editor0 CommentsNorth East

India is gearing up for what could potentially be a slew of mega initial public offerings.Prime Minister Narendra Modi's government surprised investors on Saturday by saying it will sell part of its stake in state-run behemoth Life Insurance Corporation of India to meet its record asset-sale target. The jumbo sale could fetch the government between Rs 850 billion ($11.9 billion) and Rs 900 billion if it gets done this year, Credit Suisse Group AG analysts led by Neelkanth Mishra wrote in a note.Meanwhile, Sameer Kalra, a strategist at Target Investing, estimates the IPO to be valued between Rs 910 billion…

04 Feb

Titan Q3 Net Profit Rises 13% To Rs 470 Crore Due To Festival Cheer

editor0 CommentsNorth East

Titan Company reported a 12.9 per cent rise in standalone net profit at Rs 469.95 crore for the quarter ended December 2019 compared to net profit of Rs 416.23 crore in the same quarter a year ago, due to the festival season in October and November, the company said in a regulatory filing. Sales for the quarter under consideration rose 8.4 per cent to Rs 6,105.96 crore from Rs 5,632.45 crore in the same quarter last year. The jewellery business recorded income growth of 10.6 per cent at Rs 5,409 crores in the third quarter this year compared to Rs…

04 Feb

Government May Issue $5 Billion Of Bonds With No Foreign Investment Cap

editor0 CommentsNorth East

The government is likely to issue at least $5 billion worth of bonds with no limits on foreign investment next year, in a bid to list the bonds on global indices and attract more foreign funds, according to two finance ministry sources.Government is likely to issue the bonds in several tranches of at least $400 million each, one source said."We have spoken to major index operators and we will start pushing these bonds in tranches very early in the first half of the next fiscal year itself," the first official said.