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Finance


IT czar Azim Premji has earmarked economic benefits of about 34 percent of his shares in Wipro, worth Rs 52,750 crore, for his foundation involved in philanthropy, according to a statement. With this, the total value of the endowment corpus, which supports Azim Premji Foundation’s philanthropic activities, contributed by Premji has swelled to a staggering …

India stocks fluctuated after the benchmark equity index closed Tuesday at its highest level in over five months. The S&P BSE Sensex added 0.2 percent to 37,612.06.77 as of 9:37 a.m. in Mumbai after falling by the same magnitude. The NSE Nifty 50 Index also swung between gains and losses of 0.2 percent. Both indexes …

Retail inflation inched up to a four-month high of 2.57 per cent in February, though it is still below the RBI’s benchmark, raising hopes of another round of rate cut in April to boost industrial growth which slipped to 1.7 percent on account of manufacturing sector slowdown. According to the data released by the Central …

The BSE benchmark Sensex soared by over 500 points while Nifty was up by over points in afternoon trade on Tuesday. News agency PTI reported that the jump was led by gains in metal, oil and gas, banking and energy stocks amid unabated buying by foreign investors and strong global cues. BSE Sensex was up …

Food prices registered their fifth successive monthly decline in February, continuing the trend first reported by Hindustan Times on 15 January 2019. The fall is bound to put pressure on farm incomes, accentuating the agrarian crisis that could play an important role in the summer’s Lok Sabha elections. Annual growth in India’s benchmark inflation measure, …

An economy is seen expanding to become the world’s third largest within the next seven years and with greater political stability than many emerging markets, rivals may be an appealing stock market investment theme. But not right now for Tim Love, who manages about $1 billion of EM equities. “India is a growth play generally …

Shares of Jet Airways Ltd rose as much as 4.8 percent to 255 rupees, the highest in over a month after a report said the debt-laden carrier has secured a loan of 20.50 billion rupees ($293.07 million) from Punjab National Bank. The airline has raised foreign currency term loans worth 11 billion rupees and a …

India is seeking investment from Saudi Arabia to build emergency crude reserves that will act as a buffer against volatility in oil prices and supply disruptions for the third-largest oil consumer. Saudi’s participation in the Indian Strategic Petroleum Reserve program was discussed at a meeting between the kingdom’s Energy Minister Khalid Al-Falih and his Indian …

The rupee appreciated 15 paise to 69.99 against the US dollar Monday on weakening greenback, fresh foreign inflows and the higher opening of domestic equities. In its previous session Friday, the rupee edged 14 paise lower to close at 70.14. On a weekly basis, however, the domestic currency logged 78 paise gains. The US dollar …

Nvidia Corp. agreed to buy chipmaker Mellanox Technologies Ltd. for $6.9 billion, gaining expertise to help it push into the growing market for data center components. The $125-a-share cash offer for Mellanox is a 14 % premium to Friday’s close of $109.38. But traders may not be sold on the idea that the deal will go …

Lenders haven’t fully passed on the central bank’s latest interest rate cut to borrowers, pressuring the monetary authority to loosen policy even more to support economic growth. A mismatch between deposits and credit growth and competition from the government for small-savings mean banks face a high cost of capital, limiting their ability to transmit monetary …

In a first, State Bank of India (SBI), the country’s largest lender, has linked savings account deposit and short-term loans to an external benchmark rate—repo rate. Repo rate is the rate at which the central bank lends to commercial banks. From May 1, savings bank deposits with balances above Rs 1 lakh will be linked …