Business

Yes Bank posts Rs 629 crore Q2 loss

decrease-loss

Yes Bank on Friday reported a consolidated net loss of Rs 629.1 crore for the September quarter due to a spurt in bad loans. The private sector lender had posted a net profit of Rs 951.47 crore in the corresponding period of the previous fiscal. Sequentially, there was net profit of Rs 95.56 crore in the first quarter ended June ...

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Sensex hits record high of 40,345; Infosys, SBI rally 4 pc

BSE-Bombay_Stock_Exchange_Building

Market benchmark BSE Sensex surged over 293 points to hit its record intra-day high of 40,344.99 on Thursday led by rally in index heavyweights Infosys, SBI, HDFC Bank and TCS. After opening on a strong note, the 30-share index was trading 263.69 points, or 0.66 per cent, higher at 40,315.56 in morning session. The broader NSE Nifty too advanced 71.85 ...

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Air India seeks $819 million loan for 7 Boeing planes

Air_India

Air India is looking to raise USD 819 million (over Rs 5,800 crore) to refinance existing bridge loans availed for six Boeing 787 and one Boeing 777 aircraft. The national carrier is yet to have long term financing facility for six B787 and B777-300ER, according to a tender document. Bids have been invited from banks, financial institutions for refinancing existing ...

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Gold, silver sales down by up to 40% this Dhanteras

gold-price

Mirroring slowdown in the economy, pre-Diwali Dhanteras sale of gold and silver dipped by as much as 40 per cent as high prices and lower consumer spending hit demand. Dhanteras, considered the most auspicious day in Hindu calendar for buying items ranging from precious metals to utensils, was a muted affair in most markets across the country with traders complaining ...

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India ranked 63rd in World Bank’s doing business report

The World Bank released its latest Doing Business Report(DBR, 2020) todayon24th October 2019. India has recorded a jump of 14 positions against its rank of 77 in 2019to be placed now at 63rdrank among 190 countries assessed by the World Bank. India’sleap of14 ranks in the Ease of Doing Business ranking is significant considering that there has been continuous improvement ...

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SBI Q2 profit surges six-fold to Rs 3,375 crore

State Bank of India

The country’s largest lender SBI on Friday reported a nearly six-fold jump in its consolidated net profit to Rs 3,375.40 crore for the second quarter ended September 30. The bank’s net profit was Rs 576.46 crore in the July-September quarter of previous fiscal. Its total income of the entire SBI group rose to Rs 89,347.91 crore in the quarter under ...

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Finance Minister at the IMF – World Bank Annual Meetings 2019

Nirmala_Sitharaman

Union Finance Minister Nirmala Sitharaman led the Indian delegation to the Annual Meetings Plenary session of the International Monetary Fund (IMF) and the World Bank Group held in Washington DC yesterday . She also attended the Working Lunch Session of the Development Committee (DC), the ministerial-level committee of the IMF and the World Bank. In the DC Lunch, the members ...

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SpiceJet plans to operate wide-body planes next year

SpiceJet plans to induct wide-body planes early next year and is looking at various options as the budget airline steers ahead with its ambitious expansion plans, according to a senior official. The low-cost carrier is looking at options from Boeing and Airbus. An industry source said that SpiceJet might bid for Air India’s wide-body operations in case the government puts ...

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Oil companies defer decision to suspend fuel supplies to Air India

Air_India

State-owned fuel retailers on Friday decided to defer their decision to suspend jet fuel supplies to Air India after the national carrier promised to make regular payments to clear outstanding dues, officials said. The three state-owned oil companies – Indian Oil Corporation (IOC), Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL) – had earlier this month threatened to snap ...

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Gold falls Rs 105 on stronger rupee, weak cues

gold-price

Gold prices on Thursday declined Rs 105 to Rs 38,985 per 10 gram in the national capital on a stronger rupee and weak global cues, according to HDFC Securities. However, silver surged by Rs 509 to Rs 46,809 per kg here from its previous close of Rs 46,300 per kg. On Wednesday, gold closed at Rs 39,090 per 10 gram. ...

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