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Reduction in the cost of borrowing and improved income opportunities will boost revenues and can increase the bottom line of the new entities. In the latest episode of the mini-budget press meet series, Finance Minister Nirmala Sitharaman announced another major measure towards making India a $5-trillion economy. To create global sized banks, the merger of 10 public-sector banks (PSBs) into four entities was announced so that the struggling sector is streamlined, revived and rejuvenated. From a global perspective, we don’t have a single bank among the Top 20. For example, five biggest banks of China, which find a place in the Top 20 list, have contributed to growth in all major sectors. Lower funding costs and technological scalability of large banks assure that banking services are accessible to the last person. Post mergers, more than 80 percent of the PSB business will be with 12 banks that will ensure they have a strong business book with an all-India presence...

Oil prices rose nearly 2% on Wednesday after a larger-than-expected decline in U.S. crude stockpiles helped ease worries about weakening oil demand caused by the trade war between Washington and Beijing. Brent crude futures settled 98 cents, or 1.7%, higher at $60.49 a barrel. West Texas Intermediate crude ended at $55.78 a barrel, rising 85 cents, or 1.6%. U.S. crude oil inventories fell last week by 10 million barrels, compared with analysts' expectations for a decrease of 2.1 million barrels, as imports slowed, the Energy Information Administration said. "There's a lot of big numbers here, but it's all on the import number, which is pretty impressive," said Bob Yawger, director of energy futures at Mizuho in New York. Net U.S. crude imports fell by 1.51 million barrels per day to 2.9 million BPD, while imports in the Gulf Coast region dropped to their lowest on record at 1.2 million BPD. Over the past four weeks, crude oil imports averag...

Onion prices have soared again. Due to the supply crunch in the last month, prices have doubled across agricultural markets.  In Delhi's Azadpur agricultural market, good quality onion is selling at Rs 30-40 a kg and in retail, Rs 50-60 a kg. On Wednesday, 57 trucks of onion (about 1,200 tonnes) arrived at the Azadpur agriculture market. On Tuesday, only 37 trucks had arrived.  According to traders at the mandi, anything less than 70 trucks will create onion demand-supply gap and increase the price. Onion prices doubled in August due to poor supply, said President of the Association of Onion Merchants Rajendra Sharma.  Following floods in major supplying states, like Maharashtra, Karnataka and Madhya Pradesh, the arrival of onion had shrunk, causing price rise, said a trader at Azadpur Mandi.  At the benchmark Lasalgaon mandi of Nasik (Maharashtra), Asia's largest onion wholesale market, prices have shot up 80 percent to trade at Rs 27-2...

सरकारी पनबिजली उत्पादक कंपनी एनएचपीसी (NHPC) ने सुबानसिरी (Subansiri) परियोजना के लिए असम सरकार के साथ करार किया है। करार के तहत कंपनी अरुणाचल प्रदेश और असम राज्य में सुबानसिरी नदी पर सुबानसिरी लोअर एचई परियोजना (2,000 मेगावाट) तैयार करेगी। असम और अरुणाचल के बीच की सीमा पर स्थित यह देश की सबसे बड़ी जल विद्युत परियोजना है, जिसकी अनुमानित क्षमता 2,000 मेगावाट और अनुमानित वार्षिक उत्पादकता 7421.59 मिलियन इकाई है। उधर बीएसई में एनएचपीसी का शेयर शुक्रवार को एक दम सपाट 23.25 रुपये पर बंद हुआ। इस भाव पर कंपनी की बाजार पूँजी 23,852.92 करोड़ रुपये है। वहीं इसके पिछले 52 हफ्तों का शिखर 27.50 रुपये और निचला स्तर 20.85 रुपये रहा है।  Best Share Market News, Click Here To Get More News -  Stock Market tips , for 2 Days Free T rial give a missed call @9644405057 and Get Share Market Services.

In April this year, BG Asia had reduced its stake in Mahanagar Gas from 32.5 percent to 24 percent. State-owned entity GAIL India, the Indian promoter, held 32.50 percent stake in the company. Shares of Mahanagar Gas rallied nearly 12 percent intraday on August 20 after a foreign promoter offloaded its entire stake in the company. British Gas sold 98 lakh shares in the natural gas distribution company through block deals on the National Stock Exchange. BG Asia Pacific Holdings Pte Limited, a wholly=owned subsidiary of Shell, held 10 percent stake (representing 98,77,780 shares) in the company, as per June shareholding pattern available on exchanges. At 1013 hours IST, the stock traded with volumes of 3,75,145 shares, compared to its five-day average of 72,457 shares on the NSE and on the BSE, it traded volumes of 52,56,774 shares, compared to its five-day average of 12,33,989 shares. In April this year, BG Asia had reduced its stake in Mahanagar Gas from...

Halol is a crucial facility for Sun Pharma as it contributes around 15 percent of total US sales. Shares of Sun Pharmaceutical Industries rallied 4.7 percent intraday on August 19 after the US health regulator classified the company's Halol plant as 'No Action Indicated'. No Action Indicated means no objectionable conditions or practices were found during the inspection (or the significance of the documented objectionable conditions found does not justify further action). The Halol unit was inspected by the US Food and Drug Administration during June 3-11, 2019 and the regulator issued four observations. Halol is a crucial facility for Sun Pharma as it contributes around 15 percent of total US sales. The unit was under USFDA warning letter since December 2015 and the same was lifted in 2018. The health regulator has issued an Establishment Inspection Report to plant in June last year. The stock was quoting at Rs 430.85, up to Rs 16.10, or...

नकारात्मक वैश्विक रुझानों के बीच कारोबारी सप्ताह के अंतिम दिन शुक्रवार को बाजार के दोनों प्रमुख सूचकांक गिरावट के साथ खुले। डॉलर के मुकाबले रुपया 20 पैसे की कमजोरी के साथ 69.25 पर खुला। वहीं शुरुआती कारोबार में सभी क्षेत्रों के सूचकांक दबाव में हैं। उधर अमेरिकी राष्ट्रपति डोनाल्ड ट्रम्प ने ट्वीट के जरिये चीन के 300 अरब डॉलर के सामानों पर अतिरिक्त 10% शुल्क लगाने का ऐलान किया है। इससे निवेशक सुरक्षित उपकरणों की ओर रुख कर रहे हैं। ट्रम्प की घोषणा का अमेरिकी और एशियाई बाजारों पर नकारात्मक असर पड़ा। बीएसई सेंसेक्स (Sensex) 37,018.32 के पिछले बंद स्तर की तुलना में कमजोरी के साथ 36,920.11 पर खुला। साढ़े 9 बजे के करीब सेंसेक्स 285.18 अंकों या 0.77% की गिरावट के साथ 36,733.14 पर है। वहीं एनएसई का निफ्टी (Nifty) 10,980.00 के पिछले बंद स्तर के मुकाबले 10,930.30 पर खुल कर 83.10 अंकों या 0.76% की कमजोरी के साथ 10,896.90 पर है। दूसरी तरफ छोटे-मॅंझोले सूचकांकों में भी कमजोरी देखने को मिल रही है। बीएसई मिडकैप में 0.87% और बीएसई स्मॉलकैप 0.96% की गिरावट है। वहीं निफ्टी मिड 100 में 0.79% और...

A suitability of 90/10 retirement strategy is further subjected to a willingness to withstand in bear phase and duration between now and retirement period. By Dinesh Rohira Retiring investor in India might often get prompt to adopt Warren Buffett’s investing strategy of aggressive risk tolerance on the face value of earning higher returns. As highlighted in his 2013 letter to Berkshire Hathaway shareholders about his 90/10 strategy with 90 percent allocation going into equity and remaining 10 percent in bond. It significantly paid off over a longer period with stocks earning about 60 percent returns in comparison to 8 percent by bonds on the overall portfolio. The basic fundamental that he intended to cover in his letter revolved around retirement strategy with asset allocation overweighing on equities and overlooking on the emotion among other takeaways. However, adopting this kind strategy comes with a deep understanding of the market and anticipating the...

"The investors' summits have become a fashion for BJP governments to spend people's hard-earned money like water... It could have been put to better use for providing the much-required help to the poor, downtrodden and youth, among others," BSP president Mayawati said about the two-day UP Investors' Summit 2018, which ended yesterday. The Samajwadi Party and the Bahujan Samaj Party today lashed out at the Uttar Pradesh government for "wasting" funds in the name of a business summit and termed it a "gimmick" ahead of the Lok Sabha polls, due next year. "The investors' summits have become a fashion for BJP governments to spend people's hard-earned money like water... It could have been put to better use for providing the much-required help to the poor, downtrodden and youth, among others," BSP president Mayawati said about the two-day UP Investors' Summit 2018, which ended yesterday. Terming the summit an att...

The company has issued and allotted about 42.42 crore equity shares to qualified institutional buyers at an issue price of Rs 82.50 per equity share (including a premium of Rs 72.50 a share), amounting to about Rs 3,500 crore. Mobile operator Idea Cellular today said it has successfully closed a Qualified Institutions Placement (QIP) to raise Rs 3,500 crore. The company has issued and allotted about 42.42 crore equity shares to qualified institutional buyers at an issue price of Rs 82.50 per equity share (including a premium of Rs 72.50 a share), amounting to about Rs 3,500 crore. "The issue witnessed interest from a global investor base. The issue allocation is approximately 56 per cent and 44 per cent to Indian and foreign investors respectively," the company said in a statement here. DSP Merrill Lynch and Citigroup Global Markets India acted as global co-ordinators and book running lead managers to the issue, the statement added. "...

Recent negative developments in Indian banking sector has put pressure on the rupee. The USD-INR is expected to trade in a range of 64.75-65.05 for the day, says Mohan Shenoi of Kotak Mahindra Bank. The Indian rupee declined in the early trade on Thursday. It has opened lower by 29 paise at 65.05 per dollar versus 64.76 Wednesday. Mohan Shenoi of Kotak Mahindra Bank said, "US FOMC minutes caused market volatility with US treasury yields touching a new high, US stock markets reversing early gains and dollar strengthening further." "Recent negative developments in Indian banking sector has put pressure on the rupee. The USD-INR is expected to trade in a range of 64.75-65.05 for the day." "RBI MPC minutes for February highlighted upside risk to inflation due to rising crude prices, MSP increases, fiscal slippage and Pay Commission implementation." "The G-Sec market is expected to continue to be bearish with low demand and falling trading volumes...

Almost all sectoral indices are trading in the green, with IT and PSU banks being top gainers. Meanwhile, midcaps are also trading positive. Biocon gets observations: Biotechnology major Biocon said the US health regulator has made six observations after inspecting its Malaysia manufacturing facility. "The USFDA has completed a pre-approval inspection of our manufacturing facility in Malaysia and issued a Form 483 with six observations," Biocon said in a regulatory filing."As per the normal expectations of the agency, we intend to respond with a corrective and preventive action plan in a timely manner," it added. The company, however, did not share the details of the observations made by the US Food and Drug Administration (USFDA). Private participation in coal mining: In a bold move which will end Coal India's monopoly. The cabinet has approved opening up coal mining to the private sector for commercial mining. Coal minister Piyush Goyal announ...