Business
‘Investment appetite remains; no price hike in short-term’ Bata India on Tuesday said while it anticipated only need-based shopping in the short-term, revival in demand is expected around the festive season beginning September this year. The shoemaker posted a close to 57% drop in net profit for the January-March 2020
Business
The fourth quarter GDP growth will be announced on May 29. PTI The country’s GDP is estimated to have grown at 1.2% in the last quarter of the previous fiscal as economic activity came to a standstill in the last week of March due to the nationwide lockdown
Business
Move to help telco clean up debt overhang as promoter debt also impacts ratings Bharti Telecom, the promoter firm of Bharti Airtel, plans to raise $1 billion by selling a 2.75% stake in the mobile services provider The block deal, which is likely to take place on Tuesday, will
Business
Over 50,000 products available at minimum 5% discount Reliance Industries (RIL) has taken its e-commerce platform JioMart live in an attempt to take on rivals Amazon and Flipkart. Pilots were carried out in Navi Mumbai, Thane and Kalyan. Jiomart, an online-offline model that combines the strengths of Reliance Jio
Business
PTI The rupee depreciated 34 paise to provisionally close at 75.95 against the US dollar on Friday as the Reserve Bank of India’s rate cut move failed to cheer investor sentiment. Forex traders said weak domestic equities, strengthening American currency overseas, rising coronavirus cases in the country and
Business
‘The biggest blow is to private consumption that accounts for 60% of domestic demand’ PTI The Reserve Bank on India (RBI) on Friday said India’s Gross Domestic Product (GDP) growth will be in negative territory in 2020-21 as the outbreak of COVID-19 has disrupted economic activities. In a televised
Business
Telco hopeful that ARPUs will rise Even though the telecom industry has witnessed some ‘repairs’, more needs to be done on tariffs which are still ‘unsustainably low’, Gopal Vittal, MD and CEO, India & South Asia, Bharti Airtel said on Tuesday. The company, which on Monday had posted a loss
Business
Differences in policy approaches are straining relations between countries. PTI Amidst the global economic recession due to the coronavirus pandemic, foreign investors have pulled out an estimated $26 billion from developing Asian economies and over $16 billion out of India, according to a Congressional report. Foreign investors have pulled an
Business
Average revenue per user for Q4 rises to ₹154 from ₹123 Telecom operator Bharti Airtel on Monday posted a net loss of ₹5,237 crore after exceptional items for the January-March 2020 period on account of an exceptional charge of ₹7,004 crore. In a regulatory filing the company said,
Business
The wait may be over for e-commerce companies whose operations have been hit hard by the lockdown. PTI E-commerce companies are likely to resume full services across most parts of the country from Monday under the fourth phase of the lockdown that allows greater relaxations, although industry watchers say they
Business
Updates from the world of economy, markets, and finance PTI The performance of the benchmark stock indices this morning suggests investors aren't very impressed by the Centre's economic stimulus package. US Federal Reserve Chairman Jerome Powell has warned that the economic recovery in the US after
Business
ICICI Bank was the top laggard in the Sensex pack, cracking around 6% PTI Equity benchmark Sensex plunged over 800 points in opening session on Monday dragged by losses in banking stocks as the government’s fiscal stimulus package failed to revive confidence in domestic investors. After hitting a low
