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Narendra Modi to launch RBI schemes today: PM to launch 2 innovative, customer-centric initiatives of the Reserve Bank of India today

The two schemes -- the retail direct scheme and the integrated ombudsman scheme – will be launched by PM Narendra Modi with a view to easing access to the government securities market for retail investors.

Ola’s credentials as a disruptor will be tested by its ability to deliver

Ola#39;s failure to deliver a test ride or a dealer where a prospective customer can check out the product is rapidly becoming a trust deficit 

Narendra Modi to launch RBI schemes today: PM to launch retail direct, integrated ombudsman schemes at 11 am

The two schemes -- the retail direct scheme and the integrated ombudsman scheme – will be launched by PM Narendra Modi with a view to easing access to the government securities market for retail investors.

Weekly Tactical Pick: Axis Bank

Axis Bank trades at a discount to its larger private sector peers. We see the valuation gap narrowing with the return of growth

Petrol, diesel prices on November 12: Fuel rates unchanged for 8th day

The petrol and diesel prices remained unchanged in Kolkata at Rs 104.67 per litre and Rs 89.79 per litre, respectively.

Explained | Why US inflation is so high, and when it may ease

For months, many economists had sounded a reassuring message that a spike in consumer prices, something that had been missing in action in the US for a generation, wouldn’t stay long.

NHPC net up nearly 7% to Rs 1,387 crore in September quarter

The consolidated net profit of NHPC was Rs 1,300.40 crore in the quarter ended on September 30, 2020, a BSE filing said.

SEBI notifies rules governing related-party transactions

The regulator has tweaked the definition of #39;related party#39; and #39;related-party transactions’ (RPTs), according to a notification issued on Tuesday.

Natco Pharma Q2 net profit drops 68% to Rs 65 crore

The Hyderabad-based firm had posted a consolidated net profit of Rs 203.9 crore in the July-September quarter of the previous fiscal.

States to forego Rs 44,000 crore from VAT reduction on fuels: Report

After months of calls for lowering the taxes on the fuels, the Centre on November 4 cut excise duty on diesel by Rs 10 a litre and by Rs 5 on petrol.

Piramal Enterprises Q2 net profit declines 32% to Rs 426 crore

The company had posted a net profit of Rs 628.31 crore for the corresponding period of the previous fiscal, Piramal Enterprises said in a regulatory filing.

A look at Nykaa#39;s incredible journey as it makes a bumper debut at the stock market

On November 10, 2021, Nykaa’s IPO was listed with the valuations surge to $13 billion. Nykaa founder Falguni Nayar, becomes India’s richest self-made female billionaire, with a net worth of about $6.5 billion.

Govt wants ONGC to identify areas for involving private sector: Oil Secretary

Petroleum Secretary Tarun Kapoor’s comments came days after the second-highest ranked official in his ministry asked Oil and Natural Gas Corporation (ONGC) to give away a 60 per cent stake plus operating control in India’s largest oil and gas produc

Dollar soars to 16-month high after US inflation surge

The dollar index, which gauges the currency against six peers including the yen and euro, continued to make steady progress in early European trading after rising on Wednesday in its biggest jump since March.

Morepen Labs Q2 net profit up 38% to Rs 37 crore

The company had posted a net profit of Rs 27.16 crore for the corresponding period of the previous fiscal, Morepen Laboratories said in a regulatory filing.

Go First announces expansion of flight services; check details here

The addition of new stations will further strengthen Go First’s robust network capacity and enhanced connectivity between metros and tier-I cities, offering added choices for customers.

French firm Egis Group to invest 50 million euros in India over next five years

The company has been present in the domestic market for about 25 years and has already invested 75 million euros (about Rs 650 crore) in India over the last two decades, Sandeep Gulati, Regional CEO and Managing Director (MD) of Egis India told.

India#39;s GDP to rise by $406 billion by 2050 in net-zero scenario: Report

"India’s net-zero carbon emissions target of 2070 is momentous and praiseworthy, but highly ambitious to say the least,” an ORF statement said.

Capital A announces $25 million fund, invests in RoaDo

Every year, Capital A plans to invest in 8-10 companies with a ticket size of $50,000 to $500,000 and will participate in follow-on rounds as well, a statement said.

Arcelor Mittal reports Q3 results, slightly missing expectations

The Luxembourg-based company said on Thursday third-quarter core profit (EBITDA), the figure most watched by the market, was $6.06 billion, around 6 times the year-ago figure and shortly lower than the average forecast in a company poll of $6.15 billion.

HCL Tech announces apprenticeship programme in US

Upon successfully completing the program, apprentices will be offered full-time employment at HCL Technologies and have the opportunity to concurrently pursue a debt-free college education, a statement on late Wednesday said.

Ujjivan SFB – The road to recovery may be long

The journey to recovery may take a while for Ujjivan SFB although the overall economic recovery will provide a tailwind

Semiconductor strategy — Play to your strength

Fab facility will take time to pay economic dividend; chip design and assembly can throw up more opportunities in the near term

GIC Re witnesses over 4-fold jump in net profit to Rs 1,010 crore in September quarter

The company#39;s gross premium, however, was down to Rs 8,374.72 crore during July-September 2021, compared with Rs 10,651.50 crore in the year-ago period, GIC Re said in a regulatory filing.

Biden says inflation #39;top priority#39; as US prices hit 30-year high

The 6.2 percent climb in CPI compared to October 2020 was the sharpest annual increase since November 1990, and came as costs for everything from automobiles to gasoline increased, the Labor Department said.

Stocks slide, dollar gains as US CPI sparks tightening fears

The US consumer price index rose 0.9% in October after gaining 0.4% in September, accelerating 6.2% in the 12 months through October, the largest year-on-year advance since November 1990.

IndoStar Capital Q2 profit at Rs 39 crore; revenue declines to Rs 144.8 crore

IndoStar said it crossed Rs 1,000 crore for the first time in retail disbursement, up 77 per cent from the first quarter ended June 2021.

FM Nirmala Sitharaman to hold meet with CMs on November 15

Sitharaman said there was a general positivity among investors and, #39;if we capitalise on this rising optimism, we will be able to scale up investment in states, setting off a multiplier effect on employment growth and revenues.#39;

Oil India Q2 net profit more than doubles to Rs 504 crore; announces Rs 3.5/share interim dividend

Net profit in first half of current fiscal at Rs 1,012.40 crore, compared with a loss of Rs 9.66 crore.

US jobless claims drop to pandemic low of 267,000

Applications for unemployment aid have been falling mostly steadily since topping 900,000 in early January and are gradually nearing prepandemic levels of around 220,000 a week.

Google loses court fight against $2.8-billion EU antitrust decision

#39;The real work starts now to fix the ineffective remedy that failed to restore competition and choice to the market – and which may ultimately undermine the efforts to regulate Big Tech in Europe#39;, said Kelkoo Group CEO Richard Stables

Gold prices rise to Rs 48,217/10 gm on rupee downtick, US inflation data eyed; Silver cheaper by Rs 224

The broader range on COMEX could be between $1800-1840 and on the domestic front, prices could hover in the range of Rs 48,000- 48,500, said Damani.

Cabinet okays Rs 17,409 crore to CCI for cotton procurement in 7 seasons to 2020-21

In order to safeguard the interests of the cotton farmers, the government said the CCI procured cotton in large quantity during 2014-15 to 2020-21 as cotton prices touched the MSP prices.

Over Rs 1.15 lakh crore I-T refunds issued till Nov 8; include Rs 12,617 crore for FY21: CBDT

#39;CBDT issues refunds of over Rs 1,15,917 crore to more than 98.90 lakh taxpayers from 1st April, 2021 to 8th November,2021,#39; the I-T department tweeted.

Rupee slumps 32 paise to close at 74.37 against US dollar

At the interbank foreign exchange market, the local currency opened at 74.11 and witnessed a high of 74.06 and a low of 74.42 against the US dollar in the day trade.

Axis Mutual Fund eyes Rs 80-100 crore from Nifty 50 index fund

The open-ended scheme will track the Nifty 50 index and allow investors to passively participate in the large cap universe, the fund house said, adding the new fund opens on November 15 and closes on November 29.

AirAsia India offers special fare for unlimited rescheduling, lower cancellation fees

With this special fare, passengers can now make unlimited changes up to two hours prior to the scheduled flight departure without any fees, its statement said.

MakeMyTrip partners with IndiGo to launch charter flights to Phuket

«As the pandemic eases and countries begin welcoming back Indian travellers, MakeMyTrip together with IndiGo, is making travelling to the island easy while Phuket continues to remain closed for direct flyers from India,» the statement mentioned.

Government likely to announce up to Rs 2.5 a litre hike in ethanol price today

The rate for ethanol from B-heavy molasses and C-heavy molasses may also hike by Re 1 to Rs 2.5 a litre, a report said
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