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The Siasat Daily English Business News

  • Business

    Cash-for-Clunkers: Auto industry bets big on scrappage policy

    New Delhi: Faced with a massive sales downturn, India's automobile industry is betting big on a scrappage policy to revive demand for the already dented sector. Accordingly, automobile industry's representatives have sought an 'End of Life' policy from the Central government as a measure to arrest the falling sales. The policy, if implemented, is expected to encourage customers to go...

    • an hour ago
  • Business

    Gold may cross 40k per 10 gram mark by Diwali

    Amid global growth concerns and heightened trade tensions between the US and China, gold prices might cross the Rs 40,000 mark by Diwali , analysts have said. Typically, the demand for gold reflects the expectations about the future, the prices of the precious metal tends to rise amid uncertain economic situations or political upheaval. Currently the October contract of gold was priced at Rs 37,995...

    • 7 hrs ago
  • Business

    I-T department to adopt 'taxpayer friendly' approach

    New Delhi: The Income Tax (I-T) Department has decided to adopt a more friendly approach in its dealings with the tax assessees, sources said on Sunday, following Finance Minister Nirmala Sitharaman's call for a mindset change among tax officials. Sitharaman on Saturday asked the I-T Department to bridge the communcation gap between tax officials and the assessees and sought a change in...

    • 7 hrs ago
  • Business

    Sensex up 73 pts, Nifty above 11,000

    Mumbai: The Sensex on Monday opened slightly higher over gains by finance and banking stocks. At 9.32 a.m., the benchmark Sensex was trading 73.45 points or 0.20 percent higher at 37,423.78. It opened at 37,485.92, higher from its Friday's close of 37,350.33. The Nifty gained 46.35 points or 0.42 percent to 11,094.15. Among the Nifty50 stocks, 32 edged higher while 18 traded in the red.

    • 8 hrs ago
  • Business

    Equity indices in the green, pharma and IT stocks gain

    Mumbai: Equity benchmark indices were in the positive zone during early hours on Monday following global cues. At 10:15 am, the BSE S&P Sensex edged up by 254 points at 37,604 while the Nifty 50 gained by 66 points to 11,114. At the National Stock Exchange, most sectoral indices were in the green. Nifty pharma moved up by 1.7 percent, realty by 0.96 percent, IT by 0.88 percent and FMCG...

    • 8 hrs ago
  • Business

    Chicken prices nosedive owing to festive seasons

    Hyderabad: After being sold for Rs 280 per kg for several months the chicken price has dropped by more than half to Rs120 per kg making the consumers happy. The slump in chicken consumption has made the poultry farmers looking for means to reduce the losses which are said to running to crores of rupees. The reason for the steep drop in the chicken price is three-fold. In fact, the chicken prices...

    • 9 hrs ago
  • Business

    Impact of slowdown: Mahindra fires 1500, more likely

    New Delhi: Mahindra and Mahindra fired around 1500 temporary workers since 1st April 2019. This was disclosed by the company's Managing Director, Mr. Pawan Goenka. According to the report published in Deccan Chronicle, Mr. Goenka also said that the company may be forced to cut down the workforce further if the slowdown continues. It may be mentioned that in the automobile sector, nearly...

    • 12 hrs ago
  • Business

    HCL Tech signs MoU with MADC for expansion of MIHAN campus

    Nagpur: HCL Technologies has signed a memorandum of understanding (MoU) with Maharashtra Airport Development Company (MADC) for expansion of its Multi-modal International Cargo Hub and Airport at Nagpur (MIHAN). As part of the MoU, HCL will acquire 90 acres of land to add to the existing modern 50-acre campus. The MoU was exchanged in the presence of Minister for Road Transport and...

    • 13 hrs ago
  • Business

    Economy needs stimulus, credit demand muted: SBI Chairman

    Kolkata: Amid the economy roiling through a slowdown in demand and consumption, State Bank of India (SBI) Chairman Rajnish Kumar on Sunday raised the pitch for a stimulus, saying that the credit demand remains subdued. Though lack of credit demand exists in the economy, there is no supply-side constraint as the public sector banks are well-capitalised, he said. 'Demand for credit in the...

    • 13 hrs ago
  • Business

    Slowdown: Hyundai Motor India lists 'no production days'

    Chennai: India's second-largest carmaker, Hyundai Motor India Ltd (HMIL) has declared 'no production days' this month for some of its production departments owing to tough market conditions for the automobile sector.The company, in a notification to its workers this month, said that due to prevailing market conditions, there will be no production days in its Engine Shop-1 between August...

    • 13 hrs ago

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