BUSINESS

Sensex rallies 327 pts on RBI steps to boost liquidity; gains for 7th day

6:49 pm October 9, 2020

Mumbai: The stock market benchmark Sensex rallied 327 points on Friday as financial stocks advanced following the RBI’s accommodative policy stance and steps to boost liquidity to the banking sector. Extending its gains for the seventh straight session — the longest winning streak in almost a year — the 30-share BSE Sensex rose by 326.82 points or 0.81 percent […]

GDP likely to contract 9.5 pc in FY’21: RBI

6:20 pm October 9, 2020

Mumbai: The Reserve Bank of India on Friday said the economy is likely to contract by 9.5 per cent in the current fiscal. GDP contracted 23.9 per cent in the first quarter of the fiscal, as per the estimates of the Central Statistics Office (CSO). In a statement after the meeting of the Monetary Policy […]

Rupee settles 8 paise higher at 73.16 against US dollar

6:13 pm October 9, 2020

Mumbai: The rupee strengthened by 8 paise to close at 73.16 (provisional) against the US dollar on Friday after the Reserve Bank of India decided to keep benchmark interest rate unchanged. Reserve Bank of India on Friday kept repo rate unchanged at 4 per cent but maintained an accommodative stance, implying more rate cuts in […]

Gold, silver jump tracking strong global trends

6:11 pm October 9, 2020

New Delhi: Gold prices rose Rs 236 to Rs 51,558 per 10 gram in the national capital on Friday following a positive trend in the international market, according to HDFC Securities. In the previous trade, gold had closed at Rs 51,322 per 10 gram. Silver prices also jumped Rs 376 to Rs 62,775 per kilogram […]

Ex-Raw Chief Vikram Sood explains, why it's risky to permit Huawei in India

Ex-RAW boss explains, why it’s risky to permit Huawei in India

10:15 pm October 8, 2020

New Delhi: Former R&AW chief Vikram Sood says there are several powerful reasons – strategic, technological, geopolitical and legal – to suggest that it that could be risky to permit Chinese telecom major Huawei, with its state-structured backing, to launch operations in India’s critical infrastructure. His assessment comes at a time when the government is […]