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Times of India: Business News and Markets News

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Check latest updates on business, finance and economy from across the world. Get daily updates for BSE Sensex, Share price, Stock markets, BSE, NSE, Nifty, business news on various sectors and much more from Times of India Business.
Updated: 7 min 45 sec ago

Infosys investors lose Rs 53,000 crore in a day

6 hours 29 min ago
Shares of IT services firm Infosys on Tuesday plummeted nearly 17%, wiping Rs 53,451 crore from its market valuation, on concerns over a whistleblower complaint which alleged that two top executives of the company were indulging in unethical practices to increase short-term revenue and profits. The scrip tanked 16.21% to close at Rs 643.30 on the BSE.
Categories: India News

Abhijit Banerjee flags concern over banking crisis

6 hours 44 min ago
Flagging concerns about the banking crisis in India, Nobel laureate Abhijit Banerjee on Tuesday said that aggressive changes are required to deal with the situation. He said that there is a need to bring down the stake of the government to below 50 per cent in banks so that the decisions are taken without fear of Central Vigilance Commission (CVC).
Categories: India News

Markets snap 6-day winning streak, sensex falls over 300 pts

6 hours 48 min ago
Breaking its six-session rising streak, equity indices on Tuesday closed in red with the benchmark BSE sensex falling over 300 points, dragged by IT stocks. The 30-share BSE index fell 334.54 points points or 0.85 per cent to close at 38,963.84. While, the broader NSE Nifty ended 71.95 points or 0.62 per cent lower at 11,589.90.
Categories: India News

When Abhijit Banerjee shared PM Modi's joke

6 hours 50 min ago
After his meeting with PM Modi, Nobel laureate Abhijit Banerjee was asked to share his "critical" views on Indian economy. Banerjee replied, "The PM started the meeting by cracking a joke about how the media is trying to trap me into saying anti-Modi things. He's been watching TV, he's been watching you guys, he knows what you are trying to do. So, I think stop."
Categories: India News

PMC: Court extends HDIL promoters' ED custody

7 hours 4 min ago
A Mumbai court on Tuesday extended the ED custody of Housing Development and Infrastructure Limited (HDIL) promoters Rakesh Wadhawan and his son Sarang Wadhawan, arrested in connection with Rs 4,355 crore Punjab and Maharashtra Cooperative (PMC) Bank scam, till October 24.
Categories: India News

Kotak Mahindra Bank quarterly profit surges 51%

7 hours 29 min ago
Private-sector lender Kotak Mahindra Bank Ltd reported a bigger-than-expected 51% jump in its second-quarter net profit on Tuesday, boosted by higher interest income and lower tax expenses.
Categories: India News

Shun Malaysia, India's palm oil buyers told

8 hours 22 min ago
India's top vegetable oil trade body has asked its members to stop buying palm oil from Malaysia, an unprecedented call aimed at helping New Delhi punish the country for criticising India over its policy toward Kashmir. India was Malaysia’s third-largest export destination in 2018 for palm oil and palm-based products worth 6.84 billion ringgit ($1.63 billion).
Categories: India News

'Slowdown is of money flow, not consumption'

10 hours 58 min ago
Lack of an India-centric understanding of issues affecting the economy, the prudential norms effective from 2014 which do not fit a bank-driven economy and a lack of proper assessment of consumer preferences have combined to feed the talk about an economic slowdown, says Tuglak magazine editor S Gurumurthy.
Categories: India News

INX Media case: SC grants bail to P Chidambaram

11 hours 36 min ago
The Supreme Court on Tuesday granted bail to Congress leader and former finance minister P Chidambaram in the INX Media corruption case lodged by the CBI. A bench headed by justice R Banumathi set aside the Delhi high court's September 30 verdict denying bail to Chidambaram in the case. The former finance minister is currently in ED custody till October 24.
Categories: India News

Infosys stock dives 14% on whistleblower plaint

12 hours 56 min ago
It’s back to 2017 for Infosys. A letter accusing the CEO of dressing up the company’s financials to show better revenue sent the company’s share price plummeting by 14% in morning trade on the New York Stock Exchange on Monday. The anonymous letter writers said they have complained to the company board and to the US Securities & Exchange Commission.
Categories: India News

Trump says 'phase 1' China trade pact on track for November

Mon, 10/21/2019 - 11:34pm
US President Donald Trump on Monday said progress in developing the text of a partial trade pact with China means he will likely be able to sign it next month. Trump remains upbeat on the chances Beijing and Washington will seal the mini-deal he announced earlier this month - marking a cooling-off period in the two nations' damaging trade war.
Categories: India News

Walmart CEO writes to PM on data

Mon, 10/21/2019 - 8:51pm
Categories: India News

Bring $500 million FDI, get relationship manager: Government

Mon, 10/21/2019 - 3:48pm
Soon, those looking to invest $500 million or more in the country will have a designated person who will facilitate all clearances. The department for promotion of industry and internal trade (DPIIT) and Invest India have joined hands to put in place a new mechanism aimed at attracting investors.
Categories: India News

'Issues in India-US trade deal broadly resolved'

Mon, 10/21/2019 - 9:07am
India and US have almost resolved broad issues of the proposed trade package and an announcement is expected soon, commerce and industry minister Piyush Goyal said on Monday.
Categories: India News

Banking operations may be affected due to strike on Tuesday

Mon, 10/21/2019 - 8:17am
Services in state-owned banks may be affected as some of the employees unions have decided to observe nation-wide strike on Tuesday to protest against bank mergers and fall in deposit rates. However, officers and private sector banks are not part of the strike call given by All India Bank Employees Association (AIBEA) and Bank Employees Federation of India (BEFI).
Categories: India News

Govt rolls out 6th tranche of gold bonds

Mon, 10/21/2019 - 5:07am
To cash in on Dhanteras buying spree, the government on Monday rolled out the sixth tranche of sovereign gold bonds. The sovereign gold bond (SGB) scheme 2019-20 - series VI will close for subscription on the day of Dhanteras that is October 25.
Categories: India News