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Steel trading firm in Chennai defrauds SBI of ₹391 crore

S. Vijay Kumar The suspected company is believed to have falsified documents to divert funds and cheat the bank

A view of the Bombay Stock Exchange building in Mumbai. File

Sensex rises over 200 points in early trade, Nifty tests 15,750

PTI ONGC was the top loser in the Sensex pack, shedding over 2%.

Image for representative purposes only.

Rupee falls 15 paise to 74.23 against U.S. dollar in early trade

PTI On June 17, the rupee had settled at 74.08 against the U.S. dollar.

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Indian IT is on track to hit $300-350 billion revenues by 2025, says Nasscom

Special Correspondent Sector continues to be a net creator of jobs.

Shares slip, rupee falls as Fed signals earlier rate increases

Tube Investments Q4 profit surges 74% as sales improve

Sugar season likely to end with lesser stocks

Petroleum and Natural Gas Minister Dharmendra Pradhan. File

Centre proposes changes in law to include hydrogen in mineral oil

Satya Nadella, CEO, Microsoft, during a tech summit in Bengaluru. File photo

Microsoft names CEO Satya Nadella as chairman

Reuters The top-level executive change comes just over a year after Bill Gates stepped down from the board

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CII pitches for ₹3 lakh crore fiscal stimulus to push economic growth

PTI CII president T.V. Narendran also advocated for appointment of a “Vaccine Czar” for speedy vaccination coverage

File photo for representation.

Google announces ₹ 113-crore grant to set up 80 oxygen plants, upskill rural health workers in India

PTI The company is broadening its COVID-19 support efforts to help strengthen India's healthcare infrastructure and workforce.

Opinion & Analysis

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A Budget that fails to address the hunger pandemic

Dipa Sinha In a year of economic slowdown and growing inequality, we have been presented with a stingy Budget that fails to ensure the bare necessities for all

A promising Budget with a few disappointments

M.Govinda Rao While the Budget promises to revive the economy faster, it continues to emphasise the protectionist trend

The Finance Minister has delivered, but the road ahead is long: on Union Budget 2021

Ananth Narayan This Budget scores very high marks on credibility and on its potential to create domestic output and jobs, but much more remains to be done

Markets

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Rupee snaps 8-day losing streak, settles 22 paise up at 73.86 per U.S. dollar

PTI The domestic unit opened lower at 74.10 per dollar from the previous close of 74.08.

6hrs

It was an extremely volatile trading day for domestic equities.

Sensex, Nifty end flat after choppy trade

PTI ONGC was the top loser in the Sensex pack.

6hrs

Economy

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CII pitches for ₹3 lakh crore fiscal stimulus to push economic growth

PTI CII president T.V. Narendran also advocated for appointment of a “Vaccine Czar” for speedy vaccination coverage

A healthcare worker holding a rose receives an AstraZeneca's COVISHIELD vaccine, during the coronavirus disease (COVID-19) vaccination campaign, at a medical centre in Mumbai, India, January 16, 2021.

Speed, scale of vaccination to shape recovery: RBI Bulletin

PTI Second wave has hit domestic demand, write bank officials

Industry

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Jio added 79 lakh users in March: TRAI

Paytm seeks shareholder approval for $1.6 bln sale of new stock

Hyundai Motor unveils Alcazar SUV

Wipro to raise junior staff pay from September 1

S&P revises ICICI Bank outlook to stable

‘Q2 manufacturing expectations drop’

Moj, ShareChat owner to buy back $19.1 mn ESOPs

Mohalla Tech, the holding company of short-video app Moj and Indian language social-media platform ShareChat, has announced its first ESOP buyback

Cosmo unveils fabric sanitiser Fabritizer

Cosmo Films Ltd., a predominately a B2B company, has forayed into B2C segment through its 100% subsidiary Speciality Chemicals, with the introduction

TTK Prestige forays into ecom

TTK Prestige has announced its foray into e-commerce to offer better access to its products. To start with, its U.K. cookware brand Judge would

Polycab to acquire Silvan for ₹18.2 crore

Polycab India Ltd. (PIL) has signed an agreement to acquire 100% stake in home-automation firm Silvan Innovation Labs Pvt. Ltd. for ₹18.2 crore.

Data | Negative perception on economy and employment rises to an eight-year high

More than 80% of respondents say the country's economic and employment situation worsened in May 2021

Data | Centre's tax revenues grew despite stringent lockdown on the back of excise duties

Shift in tax burden comes at a time when pandemic has led to many job losses and reduced income levels

RBI allows Centrum to set up small finance bank, paves way for takeover of PMC Bank

The PMC Bank had invited Expression of Interest (EoI) from eligible investors for investment/ equity participation for its reconstruction and had received four proposals.

Rupee snaps 8-day losing streak, settles 22 paise up at 73.86 per U.S. dollar

The domestic unit opened lower at 74.10 per dollar from the previous close of 74.08.

Sensex, Nifty end flat after choppy trade

ONGC was the top loser in the Sensex pack.

Steel trading firm in Chennai defrauds SBI of ₹391 crore

The suspected company is believed to have falsified documents to divert funds and cheat the bank

Sensex rises over 200 points in early trade, Nifty tests 15,750

ONGC was the top loser in the Sensex pack, shedding over 2%.

Rupee falls 15 paise to 74.23 against U.S. dollar in early trade

On June 17, the rupee had settled at 74.08 against the U.S. dollar.

Today's top business news: Stocks end flat after choppy trade, Paytm seeks shareholder approval for $1.6 billion sale of new stock, Zara India posts loss of Rs 41 crore in FY21, and more

Updates from the world of economy, markets, and finance

₹17,777 crore returned in 6 shut schemes

Franklin Templeton Mutual Fund (MF) on Thursday said it had returned ₹17,777 crore to unit holders of six shuttered debt schemes till June 15.This

Wipro IT to issue $750-mn dollar notes

Wipro said its step-down subsidiary, Wipro IT Services, will issue U.S. dollar-denominated notes worth $750 million on June 23.The net proceeds of the

Personal care brand MyGlamm ropes in Shraddha Kapoor

The actor makes an undisclosed investment in the company

Shares slip, rupee falls as Fed signals earlier rate increases

Sensex slides 0.34%, rupee drops to weakest since early May

Bar use of calf serum in vaccine production, PETA urges govt.

'Direct vaccine makers to use animal-free, commercially available media'

CII urges ₹3-lakh crore stimulus

Industry group pushes for cash transfers, fuel tax cut to help revive demand

Tube Investments Q4 profit surges 74% as sales improve

Board declares final dividend of ₹1.50 per share

Sugar season likely to end with lesser stocks

Exports may touch 70 lakh tonnes: ISMA

TVS unveils electric scooter TVS iQube in Chennai

TVS Motor Company on Thursday unveiled its electric scooter ‘TVS iQube’ in Chennai.The EV is already available in New Delhi and Bengaluru.TVS iQube is

Mercedes unveils S-Class car at ₹2.17 cr.

Mercedes-Benz has introduced the seventh generation S-Class in India with prices starting at ₹2.17 crore for S400d 4MATIC and ₹2.19 crore for S450

Natco net declines 43% on lower revenue

Natco Pharma reported a 43% decline in consolidated net profit for Q4 to ₹53 crore on the back of lower revenue in the base business. Total income

Della Leaders Club to raise $7 million

Della Leaders Club (DLC), a business platform for global entrepreneurs, professionals and young leaders, will raise $7 million (about ₹50 crore) to

Infosys Finacle announces digital banking software as SaaS for UCBs

Infosys Finacle, part of EdgeVerve Systems, a wholly owned subsidiary of Infosys, announced its digital banking software-as-a-service offering

AlmaBetter to train 25000 data science aspirants

AlmaBetter, an AI-driven Edtech startup has allocated ₹2 crore to fund 25,000 data science aspirants and make them industry-ready by March 2022.The

Online casual gaming to become a ₹16,900-cr. industry in FY25: KPMG study

‘Sub-segment will account for 58% of India’s total online gaming in 4 years’

Indian IT is on track to hit $300-350 billion revenues by 2025, says Nasscom

Sector continues to be a net creator of jobs.

Centre proposes changes in law to include hydrogen in mineral oil

Petroleum Ministry invites comments from stakeholders

Flipkart challenges Karnataka High Court order allowing Competition Commission of India investigation

The CCI has launched an investigation after a complaint accused Flipkart and Amazon of promoting select sellers on their e-commerce platforms and using deep discounts to stifle competition.

Sensex drops 179 points; Nifty ends below 15,700

IndusInd Bank was the top loser in the Sensex pack

Rupee slumps 76 paise, settles below 74/U.S. dollar

The domestic currency has lost 128 paise in the eight trading sessions to Thursday.

CII pitches for ₹3 lakh crore fiscal stimulus to push economic growth

CII president T.V. Narendran also advocated for appointment of a “Vaccine Czar” for speedy vaccination coverage

T-Hub rolls out next batch of accelerator for startups

Under T-Angel, qualified startups stand to get upto Rs.50 lakh from angel investors.

Major banks, airlines hit in new global Internet outage

Many of the outages were reported by people in Australia trying to do banking, book flights and access postal services

Govt extends validity of motor vehicle documents till Sept 30

The government on Thursday extended the validity of motor vehicle documents like driving licence (DL), registration certificate (RC) and permits till

Google announces ₹ 113-crore grant to set up 80 oxygen plants, upskill rural health workers in India

The company is broadening its COVID-19 support efforts to help strengthen India's healthcare infrastructure and workforce.

Rupee slips 33 paise to 73.65 against U.S. dollar in early trade

On June 16, the rupee had settled at 73.32 against the U.S. dollar

Sensex drops over 300 points in early trade; Nifty slips below 15,700

In the previous session, Sensex ended 271.07 points or 0.51% lower at 52,501.98, and Nifty retreated from a record and declined 101.70 points or 0.64% to 15,767.55

Microsoft names CEO Satya Nadella as chairman

The top-level executive change comes just over a year after Bill Gates stepped down from the board

Business Live:

Updates from the world of economy, markets, and finance

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