Business Featured National 

Reliance Communications shares plunge 48% after bankruptcy filing

Today the shares of Indias largest communication service provider  Reliance Communications Ltd has plunged over 48% in morning trade after the company has decided to opt for insolvency proceedings, following its failure to sell assets for paying back its lenders. RCom fell as much as 48.27% on BSE to Rs 6 a share intraday. At 9.40 am, the stock was trading at Rs.7.34 on BSE, down 36.7% from its previous close. In comparison, benchmark Sensex fell 0.23% to 36,386.78 points. According to the report, RCom’s USD bonds due November 2020…

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Business Featured National 

Amazon Gets Alternate Sellers in Place For Selling Products

The largest e-commerce site Amazon gets new rules to remove its key grocery service and remove a wide range of products such as sunglasses and floor cleaners. In December last year, India modified foreign direct investment rules for its burgeoning e-commerce sector, which has drawn major bets from not only Amazon.com but also the likes of Walmart Inc, which last year bought a majority stake in homegrown e-commerce player Flipkart. India’s new e-commerce investment rules bar online retailers from selling products via vendors in which they have an equity interest, and…

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Featured National 

Budget 2019: Here are the few Highlights

On Friday, the Finance Minister Piyush Goyal presented the Interim Budget for 2019 at the Parliament. Here are the key highlights from Finance Minister Piyush Goyal Interim Budget 2019-20. Taxes changes – No income tax for income up to Rs 6.5 lakh (Rs 5 lakh + Rs 1.5 lakh under 80C of the Income Tax Act) – Full tax rebate for income up to Rs 5 lakh per annum – No tax on notional rent on a second self-occupied house – Capital Gains exemption under Section 54 to be available on two house properties – The tax benefit of Rs 18,500 crore given to three crore middle-class taxpayers –…

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Featured National 

Interim Budget could contain farm income support: Piyush Goyal

Today the finance minister Piyush Goyal will present the Interim Budget for 2019-20 amid heightened expectations that he will announce an income support scheme for distressed farmers who have seen their incomes stagnate because of plunging prices, barely enough to pay for loans and input costs. The budget presenting before  April-May Lok Sabha elections will be keenly watched for cues about the government’s intent on creating jobs, high unemployment rates etc. Piyush Goyal, standing on behalf of Arun Jaitley who is in the US for health reasons, is widely expected to articulate…

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Entertainment Featured International 

Apple iPhone sales goes down 15% during past quarter

During the holiday season, Apple managed to bring in $84 billion, compared of $88 billion a year ago. Of them, $51 billion were from iPhones, while the second-best performing category is Services with $10.875 billion. In a press release Apple announced the 33% increase in sales of Wearables, Home and Accessories is an all-time high, along with the Mac sales which jumped 9%.  The CEO of Apple Inc Tim Cook said while there is a disappointment in missing the revenue targets, “Apple is managed for the long term and this quarter’s…

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Business Entertainment Featured 

Manikarnika crosses Rs 50 crore-mark

The Kangana Ranaut starrer film Manikarnika: Queen of Jhansi was released on  Republic Day. The film is directed by Kangana Ranaut and Krish and produced by Zee studios in association with Kamal Jain and Nishant Pitti. A special screening of the film was organized by Zee Entertainment for Ram Nath Kovind the resident f India at Rashtrapati Bhavan, Cultural Centre on 18 January in presence of Kangana Ranaut and her team before releasing of the film on 25 January 2019. After watching the film the President felicitated the artists and crew of the film. The film Manikarnika…

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Business Featured Technology 

Samsung dials ‘M’ to take on Xiaomi

The Korean company Samsung on Monday launched its new Galaxy M smartphones in the country. The series that has been designed to ground up in India, as it looks to re-capture its pole position from rival Xiaomi. Samsung has launched two models – M20 and M10 will be priced at Rs 7,990 onwards that will be available online from February 5.  Senior vice-president of Samsung India Asim Warsi said that “Today’s millennials want a smartphone that is lighting fast, runs longer and comes loaded with latest innovations. Meaningful innovation and customer-centric approach…

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Business Featured National 

Union Budget 2019 : Here’s the few things to know

The Government of India is going to present a budget 2019 on February 1st. An interim budget is an annual financial statement of a government’s finances which covers a smaller period usually a few months.   Earlier this week, the finance ministry has brought various changes in budgets:  Senior citizens should be provided deduction or reimbursement for medical expenses (purchase of medicines), which is more important than the deduction for medical insurance premium under Section 80D) The Sec 80C limit could be raised to Rs 2.5 lakh or even Rs…

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SENSEX-TRUECOLUMN Business Featured National 

Sensex jumps 192 points; RIL surges 4%

On Monday, The BSE benchmark Sensex continued its winning run for the fifth straight session rallying 192 points, and the NSE Nifty inched toward the 11,000 marks, riding on strong Q3 earnings by some bluechip companies, coupled with positive global cues. Sensex went past the 36,700-mark to scale a high of 36,701.03 (intra-day) on the back of widespread gains. Finally, the 30-share index settled at 36,578.96, up 192.35 points, or 0.53 per cent. It touched a low of 36,351.77. The gauge had risen 533.05 points in the previous four sessions.…

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Mehulchokshi Featured National 

Fugitive businessmen Mehul Choksi surrenders passport in Antigua

A fugitive diamond trader  Mehul Choksi, who was accused of defrauding the Punjab National Bank, has surrendered his Indian citizenship and passport to authorities in Antigua and Barbuda. Mehul Choksi along with his nephew Nirav Modi also a fugitive from India allegedly committed fraud on Punjab National Bank amounting to over Rs. 13,500 crores. The businessman Mehul Choksi had fled India in January 2018, a few weeks before the scam came to light. In August 2018 he claimed that he had become a citizen of Antigua and Barbuda and he will expand his business…

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