Markets settle higher for 2nd day; Nifty jumps over 1 per cent

Equity indices ended higher for the second straight session on Tuesday, with the Nifty rallying over 1 per cent, helped by across-the-board buying and recovery in the US and Asian markets. Foreign fund inflows also added to the momentum. The 30-share BSE Sensex climbed 578.51 points or 0.98 per cent to settle at…

Google backed into a corner as India, US and EU seek to take away its monopoly

Tech giant Google is under fire as several authorities across the world seek to dethrone its monopoly rule. Recently, it suffered a major setback after a European Union(EU) court upheld the EU’s antitrust fine of $4.12 billion. Google was fined for allegedly putting in place strategic restrictions on Android phone…

Shell set to install over 10,000 electric vehicle charging points across India

Shell plans to set up over 10,000 electric vehicles (EV) charging points across India by 2030 as it joins the electric mobility bandwagon to cut vehicular emissions. Shell, which operates 327 out of the 83,888 petrol pumps in the country, launched its first EV chargers in India, for the four-wheeler and two-wheeler…

Moody’s retains India rating, says rising global challenges…

Global challenges including the impact of the Russia-Ukraine conflict, higher inflation and tightening global financial conditions are unlikely to derail India’s economic recovery from the pandemic, rating agency Moody’s said on Tuesday. Moody’s Investor Service retained its sovereign rating on India…

OTT platforms may upend multiplexes’ run soon, set to be a Rs 12,000-cr industry by 2023

According to SBI Research, the over-the-top or OTT market is expected to reach Rs 11,944 crore by 2023, up from Rs 2,590 crore in 2018, logging in a compound annual growth of 36 per cent. This may lead to a repeat of the sudden death of the VCR/VCP/DVD industry that boomed in the 1980s, with the exponential rise of…

PNB launches pre-qualified credit card, overdraft facility against fixed deposits

State-owned Punjab National Bank (PNB) on Monday announced the launch of its pre-qualified credit card with a host of features, including insurance coverage. This facility will be available for salary account customers and they shall be able to apply through the mobile banking app PNB One, website or Internet Banking…

Govt hikes windfall profit tax on export of diesel; cuts tax on domestic crude oil

The government on Thursday hiked the windfall profit tax on the export of diesel to Rs 7 per litre and brought back a tax on jet fuel exports, but slashed the levy on domestically produced crude oil in line with softening rates. At the third fortnightly review, the government raised the windfall profit tax on the…

Sensex maintains momentum for fifth day; Nifty nears 18,000

Equity benchmark Sensex ticked higher for the fifth straight session on Thursday, helped by fag-end buying in select blue-chip stocks amid a largely negative trend in global markets. A depreciating rupee and rising crude prices in the international market capped the gains in domestic equities, traders said. In a…

Airtel gets spectrum allocation letter, Sunil Mittal hails ease of doing business

Bharti Airtel received spectrum allocation letter within few hours of making upfront payment to the Department of Telecom, Bharti Enterprises founder and chairman Sunil Bharti Mittal said on Thursday. This is the first time ever that the Department of Telecom (DoT) has handed out a spectrum allocation letter on the day…

SpiceJet enters settlement agreement with lessor Goshawk for 3 aircraft

SpiceJet has signed a settlement agreement with aircraft lessor Goshawk Aviation Ltd and its affiliated leasing entities Wilmington Trust SP Services Ltd, Sabarmati Aviation Leasing Ltd and Falgu Aviation Leasing Ltd for two Boeing 737 MAX and one Boeing 737-800 NG aircraft. The airline said the agreement – the…