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Tribune India 10/23/2020 22:09
Vijay C Roy. Tribune News Service. Chandigarh, October 23. Having experienced a setback amid the Covid pandemic, which affected the sale of fans during summers, the home appliances makers are banking on the northern region for water heaters. The region contributes 40% to total sales across the country. The Indian water heater market was pegged at Rs 2,500 crore in 2019. There are around dozen players in the organised sector besides local players which cater to the demand. "For the past two years, the water heater market is growing at 8-10%. The northern region is important to us as maximum sale is recorded during November to March. To have a bigger share of the market, we have launched nine models," said Rohit Mathur, president, Usha Internati.
Tribune India 10/23/2020 22:09
Mumbai, October 23. RBI Governor Shaktikanta Das has said the risk of a second wave of Covid could put sand in the wheels of the nascent recovery while his deputy MD Patra opined that it might take years to regain the output lost on account of the pandemic. These views were expressed by them during the meeting of the newly constituted Monetary Policy Committee (MPC) held from October 7 to 9. The newly appointed independent member of the rate-setting panel Shashanka Bhide said uncertainties relating to Covid pandemic will impact growth and inflation scenarios in the next two to three quarters. Das also said the decision to cut benchmark repo rate would depend upon the evolving situation with regard to inflation which is currently above the to.
Tribune India 10/23/2020 22:09
New Delhi, October 23. Walmart-owned Flipkart will buy a 7.8% stake in Aditya Birla Fashion and Retail for Rs 1,500 crore as it taps into the offline retail player's large bank of apparel outlets to bolster its presence in the high-margin fashion business. Billionaire Kumar Mangalam Birla's retail business will issue preference shares to Flipkart, giving it a 7.8% stake, Aditya Birla Fashion said in a stock exchange filing on Friday. The transaction was at Rs 205 per share, a 33.6% premium to Thursday's closing price of Rs 153.4.
Tribune India 10/23/2020 08:39
Mumbai, October 23. The rupee depreciated 7 paise to close at 73.61 (provisional) against the US dollar on Friday even as the domestic equity market was trading with significant gains. At the interbank forex market, the local unit opened weak at 73.62 against the US dollar and remained stressed for majority of the session before closing at 73.61, a loss of 7 paise over its previous close. During the session, the local unit witnessed an intra-day high of 73.46 and a low of 73.67 against the US dollar. It had settled at 73.54 against the greenback in the previous session on Thursday. According to forex dealers, positive sentiment in the domestic equity market and weakness in US dollar overseas restricted the rupee's fall. Rahul Gupta, Head of
Tribune India 10/23/2020 08:33
Mumbai, October 23. Domestic equity markets on Friday resumed their northward journey after a day's hiatus, with gains mainly in auto, power and consumer durable shares offsetting losses in IT and realty stocks. The BSE benchmark Sensex settled 127.01 points or 0.31 per cent higher at 40,685.50; and the broader NSE Nifty rose 33.90 points or 0.28 per cent to end 11,930.35. On a weekly basis, the Sensex rallied 702.52 points or 1.75 per cent, while the Nifty advanced 167.90 points or 1.42 per cent. On the Sensex chart on Friday, Maruti Suzuki was the top gainer, rallying around 4 per cent, followed by Mamp;M, Tata Steel, PowerGrid, Bajaj Auto and NTPC. On the other hand, UltraTech Cement, HCL Tech, HUL and Bajaj Finserv were among the laggard.
Tribune India 10/23/2020 08:22
New Delhi, October 23. The government is planning to sell up to 15 per cent stake in the Rail Vikas Nigam Ltd (RVNL) and has invited bids from merchant bankers for managing the share sale process. "The GoI intends to disinvest up to 15 per cent paid up equity capital of RVNL out of its shareholding of 87.84 per cent through Offer for Sale (OFS) method of shares by promoters through the stock exchanges," the Department of Investment and Public Asset Management (DIPAM) said while inviting bids from merchant bankers. The government will appoint up to three merchant bankers for managing RVNL share sale. The responsibilities of the merchant banker include advising the government on the timing and the modalities of the OFS, ensuring best return to.
Tribune India 10/23/2020 07:33
New Delhi, October 23. E-commerce giant Amazon has refused to appear before the Joint Committee of Parliament on the Data Protection Bill on October 28 and this amounts to breach of privilege, panel chairperson and BJP MP Meenakshi Lekhi said on Friday. Lekhi said "the panel is unanimous in its opinion that coercive action can be suggested to the government against the e-commerce company". "Amazon has refused to appear before the panel on October 28 and if no one on behalf of the e-commerce company appears before the panel it amounts to breach of privilege," she told PTI. Meanwhile, Facebook's policy head Ankhi Das appeared before the panel on the issue of data security on Friday. Facebook India representatives were asked some tough and sear.
Tribune India 10/23/2020 06:45
Mumbai, October 23. Equity benchmark Sensex ended 127 points higher on Friday, primarily led by gains in auto, metal and power sector stocks amid positive cues from global markets. After rising 252.63 points during the day, the 30-share Sensex settled 127.01 points or 0.31 per cent higher at 40,685.50, and the broader NSE Nifty rose 33.90 points or 0.28 per cent to end 11,930.35. On the Sensex, Maruti Suzuki was the top gainer, rallying around 4 per cent, followed by Mamp;M, Tata Steel, PowerGrid, Bajaj Auto and NTPC. On the other hand, UltraTech Cement, HCL Tech, HUL and Bajaj Finserv were among the laggards. According to traders, domestic equities ended with gains tracking largely positive cues from global markets. Bourses in Hong Kong, To.
Tribune India 10/22/2020 21:54
Tribune News Service New Delhi, October 22. The government on Thursday revised the base year for computing Consumer Price Index for Industrial Workers (CPI-IW) from the present 2001 to 2016 after a gap of 15 years. As per the norm, the base year of price index numbers should be revised at frequent intervals, generally not exceeding 10 years to reflect the changes that take place in the consumption pattern of consumers. The CPI-IW is used primarily for measuring the dearness allowance (DA) payable to workers in the organised sector, including PSUs, banks and insurance companies, besides government employees.
Tribune India 10/22/2020 21:54
New Delhi, October 22. Foreign investor holding in billionaire Mukesh Ambani-led Reliance Industries (RIL) has increased to a record high of 27.2% in the quarter ended September 30, according to a regulatory filing by the company. RIL on Thursday filed a statement showing the shareholding pattern for the quarter ended September 30.
Tribune India 10/22/2020 21:54
New Delhi, October 22. Smartphone segment in India rebounded after the lockdown to touch an all-time high of 50 million units in September quarter with Chinese companies collectively holding 76% market share, according to research firm Canalys. Xiaomi tops chart. Xiaomi remained the market leader with 26.1% share, followed by Samsung (20.4%). Vivo had 17.6% share followed by Realme (17.4%) and Oppo (12.1%).
Tribune India 10/22/2020 21:54
New Delhi, October 22. Markets regulator SEBI on Thursday disposed of proceedings against four entities, including Bharti Telecom Ltd and Sunil Bharti Mittal, in a matter related to alleged violation of insider trading norms while dealing in Bharti Airtel's scrip. The order follows a probe conducted by SEBI in respect of trading of certain entities in the scrip of Bharti Airtel to ascertain alleged violation of the Prohibition of Insider Trading norms. During the period of investigation, Sunil Mittal was chairman of Airtel, Gopal Vittal was its director, Rohit Krishan Pal was the compliance officer and Bharti Telecom was the promoter. On October 2017, Airtel in a filing announced the proposed acquisition of the consumer mobile business of Ta.
Tribune India 10/22/2020 11:59
New Delhi, October 22. Non-profit scientific research organisation IAVI, vaccine major Serum Institute of India and global science and technology firm Merck KGaA have entered into an agreement to develop monoclonal antibodies to fight COVID-19 and to ensure their prompt and equitable global access. The agreement is "to develop SARS-CoV-2 neutralising monoclonal antibodies (mAbs) co-invented by IAVI and Scripps Research as innovative interventions to address the COVID-19 pandemic", the partners said in a statement on Thursday. The agreement builds on the advanced antibody discovery and optimisation expertise of International AIDS Vaccine Initiative (IAVI) and Scripps Research, and on Germany's Merck KGaA's and Serum Institute's significant ca.
Tribune India 10/22/2020 07:48
Ravi S Singh. Tribune News Service New Delhi, October 22. The Union government on Thursday revised the base year for computing Consumer Price Index (Industrial Workers) CPI-IW from the present 2001 to 2016 after a gap of 15 years. As per the norm, base year of price index numbers should be revised at frequent intervals generally not exceeding 10 years to reflect the changes that take place in the consumption pattern of consumers. The CPI-IW is used primarily for measuring the Dearness Allowance (DA) payable to workers in the organised sector including PSUs, banks and insurance companies, besides government employees. It also provides inputs to government in macro policy planning. Unveiling the report on base revision of Consumer Price Index f.
Tribune India 10/22/2020 04:45
United Nations, October 22. Export growth declined in India in the third quarter of 2020 relative to the same quarter last year but picked up pace in September, according to a global trade update by the UN. The UNCTAD's new global trade update said that global trade recorded a 5 per cent drop in the third quarter of 2020 compared with the same period last year.
Tribune India 10/22/2020 02:55
Mumbai, October 22. Equity benchmark Sensex dropped over 250 points in early trade on Thursday, tracking losses in index majors Reliance Industries, ICICI Bank and Infosys amid weak cues from global markets. The 30-share BSE index was trading 279.13 points or 0.69 per cent lower at 40,428.18, and the broader NSE Nifty fell 80.05 points or 0.67 per cent to 11,857.60. ICICI Bank was the top laggard in the Sensex pack, shedding around 2 per cent, followed by Asian Paints, Reliance Industries, PowerGrid, Nestle India and SBI. On the other hand, Bajaj Finserv, Bajaj Finance, Bharti Airtel, Lamp;T and UltraTech Cement were among the gainers. In the previous session, Sensex settled 162.94 points or 0.40 per cent higher at 40,707.31, and the broader.
Tribune India 10/22/2020 02:39
Bengaluru, October 22. Organisations in India are seeing a significant increase in the cybersecurity challenges they face amid the shift to mass remote working, a new study by Cisco shows. According to the study, 73 per cent of organisations in the country have experienced a 25 per cent or more jump in either cyber threats or alerts since the start of COVID-19. Cisco's 'Future of Secure Remote Work Report' revealed that many Indian organisations were unprepared to make the accelerated transition to a remote workforce at the outset of COVID-19. About two-thirds (65 per cent) of organisations adopted cybersecurity measures during COVID-19 to support remote working. The study is based on a survey of over 3,000 IT decision-makers globally, inclu.

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