Indian Rupee - TrueColumn Business 

Rupee continues to record fall of Rs 70.26, impacts crude oil, medicines and more

The rupee continues to fall a record mark of Rs 70.26 against US Dollar on early Thursday morning in early morning thus impacting many import products like crude oil, medicines, iron core and many others in large quantities.  The record fall in the Indian currency is mainly affected by the Turkish Lira which helps the US Dollar to gain by 6 against lira after US ruled out removing steel tariffs on Turkey. The shift in the value of Rupees will not only effect the capabilities of the country but also…

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india'srichestwomen-truecolumn Business 

Smitha Crishna of Godrej tops the India’s richest women list, check out other leading ladies

In the recently released report of “Kotak Wealth Hurun- Leading wealthy Women 2018” by Kotak Wealth Management, Smitha V Crishna of Godrej Group tops the list with an estimate wealth of Rs 37,570 crore followed by HCL Chief Roshni Nadar handling assets of Rs 30,200 crore. Smitha Crishna is the third generation heir of Godrej Group and came into the highlight after she purchased the bungalow of veteran physicist Dr Homi J Bhabha for Rs 371 crore in 2014. Roshini Nadar, CEO of HCL Enterprise finds the second place in…

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ikea-truecolumn Business 

Hyderabad gone crazy with opening of Ikea’s first mega store

The city of Hyderabad gone crazy yesterday with the mega opening of Swedish home furnishing player IKEA’s first store for the first time in India as thousands of people rushed to a single direction to shop to the mega store. The opening time of 10am to the closing time of 11 pm, the shopping outlet marked the huge crowd and swell to an amazing numbers. With the turnout of the people, the social media was also flooded with the trolls, pictures and comments showing the huge crowd struggling to get into…

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maggi-truecolumn Business 

Maggi attains 60% share in market, ready to touch pre-crisis level

The most famous and revenue generated product of Nestle India’s instant noodle brand Maggi has attains 60% share and the company is all set to reach the pre-crisis level of sales. With the 60% share, Maggi is still away to create the pre-crisis period when Nestle used to cover the market with 75% business share. Suresh Narayan, MD and chairman of Nestle said, “We are little over 60% market share. In business terms, we are almost back to where we were in term of pre-crisis. In value terms, we are…

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minimumbalance-truecolumn Business 

Rs 5,000 crore collected from customers for not maintaining Minimum balance in banks

A whooping amount of Rs 5,000 crore is collected by 21 public sector banks along with three major private banks collectively for not maintaining minimum balance in 2017-18 as per the new data released by the banks. The reports is presented in the Lok Sabha by minister Shiv Pratap Shukla. The huge amount of Rs 5,000 crore collected due to the penalties imposed on the opening of 30.8 crore basic saving accounts opened under Jan Dhan Yojana as they failed to maintain the minimum balance. The major player in this…

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timcook-truecolumn Business 

First $1 trillion crowned company in history

To reach the mark of plus $100 billion dollar is still a major challenge for uncountable companies worldwide but here is the only one major company who has crossed the milestone of even $1 trillion and with not much surprise it is Silicon valley based Apple. On August 2, Apple became the first listed US company to cross the $1 trillion as it established its well-defined position by jumping into iPhone market in 2006 from being a niche player in personal computers earlier. The unexpected rise in the June quarter…

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policyrates-truecolumn Business 

RBI rate hike: Home loans gets costlier, short-duration saving investment beneficial

The Reserve Bank of India on Wednesday increased its repo rate by 25 basis point- thus marking its first back-to-back hike on policy rates since October 2013. However, with the increase in the repo rates, the bank might increase the cost of funds that will further increase their marginal cost of lending rates. According to the CEO of Paisebazar.com, Naveen Kukreja, “Home loans will become costlier for fresh borrowers as and when the banks raise their respective MCLRs”. The new repo rate turns out to be 6.5% as the inflation…

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RIL_truecolumn Business 

RIL again surpassed TCS as the most valued firm in market cap

Coming again on the top spot, RIL again surpassed IT giant Information technology TCS for the second time and become the most valuable firm in terms of market capitalisation. As per the BSE data recorded today, RIL market cap stood up at Rs 7.48 trillion while TCS is valued with Rs 7.40 trillion market cap. In the month of July, RIL has surged 21% while TCS increased its market cap by 4.5%. The market valuation of Reliance industries is registered with Rs 7,47,676.35 crore which is Rs 8,378.48 crore more…

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GSTratecut-truecolumn Business 

GST rate cut: 85 items including Sanitary napkins, washing machines gets cheaper, check the list

GST council held last week chaired by the Finance Minister Piyush Goyal marked the GST price cut on the 85 items. Items like sanitary napkins, Rakhi, marble has put down to zero from 18%, 12% while television, refrigerators, paints rates have been slashed from 28% to 18%. Items slashed to zero from 5%, 12% and 18% This category includes stone, marbles, wood deities, rakhi, sanitary napkins, coir pith compost, sal leaves, phool bhari jhadoo, khali dona. Items slashed to 5% from 12%, 18% Items like handloom dari, chenille fabrics under…

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Vodafone-Idea-truecolumn Business 

Vodafone, Idea merger may led to price war to retain customers

The biggest deal in the telecom sector, Vodafone-Idea merger to pace up with the rivals like Bharti Airtel and Reliance Jio will ultimately be beneficial at the customers end. After the deal comes into action, Vodafone-Idea Cellular will try their best to regain the subscribers by rolling out the cheaper plans. Both the telcos have paid Rs 7,200 collectively to the Department of Telecommunication (DoT) under protest as “any further delay for according the approval of Vodafone-Idea license would permanently impair the merged entity”. As the proceeding is going on,…

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