Steel secretary N N Sinha rules out ban on low-grade iron ore exports
Thu, Feb 29, 2024 4:26 PM

Steel secretary N N Sinha rules out ban on low-grade iron ore exports

India is not exploring a ban on the export of low-grade iron ore, secretary of Steel Ministry N N Sina said on February 2029 on the sidelines of the CII's CORTEM 24 event. "We have not considered a ban and nor recommended it," Sinha said in response to a query by Moneycontrol. According to reports, smaller steelmakers in India are pressing for a ban on exports of iron ore.

Open Flip
India's April-January fiscal deficit widens to Rs 11.03 lakh cr
Thu, Feb 29, 2024 4:25 PM

India's April-January fiscal deficit widens to Rs 11.03 lakh cr

The Central government's fiscal deficit widened to Rs 11.03 lakh crore in April 2023-January 2024 from Rs 9.82 lakh crore in April-December, data released by the Controller General of Accounts showed on February 29. At Rs 11.03 lakh crore, the fiscal deficit for the first 10 months of the current financial year accounts for 63.6 percent of the revised estimate of Rs 17.35 lakh crore.

Open Flip
Mukesh Ambani's Disney dream could add to nightmares for Zee
Thu, Feb 29, 2024 4:23 PM

Mukesh Ambani's Disney dream could add to nightmares for Zee

With billionaire Mukesh Ambani's Reliance Industries (RIL) and Viacom18 joining forces with Disney to create a Rs 70,000 crore worth broadcast network, debt-ridden Zee Entertainment Enterprises will now have a tougher time finding an investor that can compete with India's richest tycoon. Zee, which has already been struggling since its merger breakdown with Sony, would be negatively impacted.

Open Flip
Sebi bans 12 entities from securities mkt for manipulative trades in V Marc
Thu, Feb 29, 2024 4:19 PM

Sebi bans 12 entities from securities mkt for manipulative trades in V Marc

Sebi on Thursday barred 12 entities, including promoter of V Marc India Ltd, from the securities market for engaging in a fraudulent scheme to manipulate volumes and price of the company's shares. Additionally, the regulator impounded wrongful gains of Rs 6.38 crore made by some of the entities from the manipulative scheme, according to an interim order.

Open Flip
Want to improve your credit score? 5 key ways to score better!
Thu, Feb 29, 2024 4:17 PM

Want to improve your credit score? 5 key ways to score better!

Remember Priyasha Saluja of Shark Tank fame who tried to impress the judges/ sharks by pointing out her high credit score? Not only her claim evoked laughter and appreciation, one of the judges Aman Gupta attributed his final offer to her high score i.e., 838. Nevertheless, not all of us can boast of a high credit score such as that of Priyasha.

Open Flip
Top Gainers and Losers today: 29 February, 2024
Thu, Feb 29, 2024 4:15 PM

Top Gainers and Losers today: 29 February, 2024

⬆️The top gainers in Nifty index were 📌Adani Ent (up 2.06%), 📌Tata Consumer (up 1.89%), 📌Indusind Bank (up 1.77%), 📌M&M (up 1.62%), and 📌Adani Ports & SEZ (up 1.62%). ⬇️The top losers in Nifty index were 📌Apollo Hospitals (down 4.10%), 📌Bajaj Auto (down 3.41%), 📌LTI Mindtree (down 2.02%), 📌Eicher Motors (down 1.85%), and 📌UPL (down 1.30%).

Open Flip
Hospital stocks slump after SC threatens to apply CGHS rates!
Thu, Feb 29, 2024 4:10 PM

Hospital stocks slump after SC threatens to apply CGHS rates!

Shares of hospital chains, namely, Apollo Hospitals, Fortis Healthcare, Global Health and Max Healthcare slumped 2-7% after the SC warned of applying CGHS rates for treatment services at private healthcare facilities. The court criticized the government over its failure in specifying the range of rates within which private hospitals and clinical establishments can charge for treatment services.

Open Flip
RBI imposes monetary penalty on two co-operative banks for rule violations
Thu, Feb 29, 2024 4:05 PM

RBI imposes monetary penalty on two co-operative banks for rule violations

RBI on February 29 said it has imposed monetary penalty on 2 co-operative banks for rule violations. These banks are Noble Co-operative Bank Limited and Adarsh Mahila Co-operative Bank Limited, which were penalised Rs 5 lakh each by the central bank. Adarsh Mahila Co-operative Bank was penalised as the bank had sanctioned a loan where a relative of one of the directors of the bank was interested.

Open Flip
Cabinet approves Nutrient Based Subsidy rates for Kharif season 2024
Thu, Feb 29, 2024 4:00 PM

Cabinet approves Nutrient Based Subsidy rates for Kharif season 2024

The Union Cabinet on February 29 approved the proposal to fix the NBS rates for kharif season, 2024 (from 01.04.2024 to 30.09.2024) on Phosphatic and Potassic (P&K) fertilizers and inclusion of 3 new fertilizer grades under NBS scheme. The tentative budgetary requirement for Kharif season 2024 would be approximately Rs.24,420 crore, announced Union Minister Anurag Thakur.

Open Flip
German turnaround specialist Mutares to open office in Mumbai!
Thu, Feb 29, 2024 3:59 PM

German turnaround specialist Mutares to open office in Mumbai!

Mutares, the Munich-headquartered and Frankfurt-listed turnaround specialist that acquired an 80 percent controlling interest in Peugeot Motorcycles from the Mahindra group in 2022, is opening an office in Mumbai, senior executives of the firm told Moneycontrol in an exclusive interaction. Apart from Peugeot Motorcycles, Mutares currently also has a presence in the country through SFC Solutions.

Open Flip
India asks WTO to re-examine moratorium on customs duties on digital goods
Thu, Feb 29, 2024 3:55 PM

India asks WTO to re-examine moratorium on customs duties on digital goods

India reiterated her ask to re-examine the implications of the moratorium on customs duties on electronic transmissions, particularly for the developing nations and the least-developed countries (LDCs) at a session on e-commerce during the World Trade Organisation’s (WTO) 13th Ministerial Conference (MC13) on February 28.

Open Flip
Nifty, Sensex lack direction on monthly F&O expiry
Thu, Feb 29, 2024 3:51 PM

Nifty, Sensex lack direction on monthly F&O expiry

Benchmark indices Nifty and Sensex ended flat on February 29 on account of monthly F&O expiry. Investors also remained cautious ahead of India's GDP data due later in the day. The market has suddenly turned unpredictable amidst high volatility, and this uncertainty is expected to persist in the near term, according to analysts.

Open Flip
Potential for any re-rating delayed for Paytm, says UBS; still sees 25%.
Thu, Feb 29, 2024 3:50 PM

Potential for any re-rating delayed for Paytm, says UBS; still sees 25%.

Shares of One 97 Communications (Paytm) have witnessed an almost 50 percent drop just in February as investor sentiment turned negative amid the RBI and Paytm Payments Bank Ltd (PPBL) saga.In a recent note, brokerage house UBS said it believes that any potential for a re-rating of Paytm based on profitability improvement has been delayed. It has retained a 'neutral' call on the stock.

Open Flip
✅Sensex surges 195 points at the Close; Nifty near 22,200
Thu, Feb 29, 2024 3:39 PM

✅Sensex surges 195 points at the Close; Nifty near 22,200

✅ Amid positive global cues, benchmark indices closed on a positive note today. 📢 At 3:30 PM, the Sensex improved by 195.42 points or 0.27% at 72,500.30, and the Nifty was up 31.65 points or 0.14% at 21,982.80. 📊Among sectoral, Nifty PSU Bank (⬆️1.30%) turned out to be the best performer while Nifty IT (⬇️0.06%) saw considerable selling.

Open Flip
Up-move in entire PSU space to cool off, says Enam Holdings' Sivaram
Thu, Feb 29, 2024 3:38 PM

Up-move in entire PSU space to cool off, says Enam Holdings' Sivaram

The pace of returns seen in the past three years in the entire PSU basket will surely cool off, said Sridhar Sivaram, an investment director at Enam Holdings. In an interaction with CNBC-TV18, Sivaram said that the next two quarters might be difficult for the financial services sector as liquidity in the system is very tight. He said that banks with a better credit-deposit ratio.

Open Flip

Join our Smart Investment Community

More than 1 Million users are using FlipItMoney to stay updated about the business and finance world! Join FlipItMoney now and take smart investment decisions!
Icon