Category Archives: Business

Business

FirstCry, MobiKwik, Ixigo worst hit as new-age stocks tank amid sharp selling

FirstCry, MobiKwik, Ixigo worst hit as new-age stocks tank amid sharp selling

IANS

Several new-age stocks have witnessed sharp selling in the first half of January, as the stock market goes through correction amid global uncertainties.

This list includes stocks of new-age companies like FirstCry and MobiKwik which fell more than 20 per cent.

Mother and childcare e-commerce platform FirstCry’s stock has fallen by 24.82 per cent since the beginning of this year to date. Currently, the stock is trading at Rs 489.

Fintech major MobiKwik’s share price fell by 23.07 per cent to Rs 456. MobiKwik was listed in December 2024. After listing, the stock saw a big rally. Currently, it is trading at Rs 698.30 per share.

Insurance distribution provider PB Fintech’s stock has fallen 18.71 per cent between January 1 and January 17 and is trading at Rs 1724.

Le Travenues Technology Ltd, which owns online travel aggregator Ixigo, saw its stock decline by 20.63 per cent to Rs 142 so far this month.

FirstCry, MobiKwik, Ixigo worst hit as new-age stocks tank amid sharp selling

IANS

Food delivery and quick commerce service providers Zomato and Swiggy’s stock declined by 10.38 per cent and 12.75 per cent, respectively, to Rs 247 and Rs 473 apiece.

Apart from this, the stock of new-age insurance company Go Digit General Insurance has fallen by 11.76 per cent to Rs 288 since the beginning of January.

The stock of the leading fintech company Paytm also fell more than 9 per cent since the beginning of January and is currently trading at Rs 897 apiece.

The market has also seen a decline since the beginning of January. During this period, the Sensex fell by 2.42 per cent and the Nifty by 2.30 per cent.

According to market experts, the reason for the decline is global instability due to tariff threats by US President-elect Donald Trump, the high valuation of the Indian stock market, and the third quarter results of FY 2024-25 are expected to be weak.

(With inbputs from IANS)

Business

Emergency Loan : You can get a loan of 10 thousand on Aadhaar card without guarantee, apply like this

Emergency Loan : You can get a loan of 10 thousand on Aadhaar card without guarantee, apply like this
Emergency Loan : You can get a loan of 10 thousand on Aadhaar card without guarantee, apply like this

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If you need money in an emergency, you can apply for it with the help of Aadhaar card. In which you have to go to the app or official website of the NBFC (Non-Banking Financial Company) and Fintech platform.

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Emergency Loan: Many times there are situations when you suddenly need money and no friend or relative can help you. If you are also stuck in such a situation, then with the help of Aadhaar card you can get an instant loan of Rs 10,000.

The biggest feature of this loan is that you don’t have to repay it all at once, it can be repaid in installments as per your convenience. Also, no collateral is required for this loan of Rs 10,000. Let’s know the details about it.

Aadhar Card Loan

A loan of Rs 10,000 available on Aadhar card is called a personal loan. Generally, apart from Aadhar card, no other documents are required for a personal loan. In this, Aadhar card is asked only for identification and Rs 10,000 is transferred to your account immediately. If you use a PAN card, you can also get a loan of a higher amount.

Who gives loan on Aadhaar card?

Very few government banks give personal loans. If you have a good credit score and you use PAN card while applying for a loan, private banks easily give personal loans. If you do not have a PAN card, you can take a personal loan from NBFC (Non-Banking Financial Company) and Fintech platforms with the help of Aadhaar card.

How to Apply?

If you need money in an emergency, you can apply for it with the help of Aadhaar card, in which you have to go to the app or official website of the NBFC (Non-Banking Financial Company) and Fintech platform. Where you can easily take a personal loan by providing Aadhaar card and necessary details.

Who can get this loan?

People between the age group of 21 to 60 can apply for a personal loan with the help of Aadhaar card. Only those people who are employed or have their own business can apply for this. Along with this, you should also have an active bank account.

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Business

Indian stock market ends lower after 3-day gains, Nifty below 23,250

Indian stock market ends lower

IANS

India’s domestic benchmark indices ended lower on Friday as selling was seen in the IT and Financial service sectors.

Sensex ended at 76,619.33 down by 423.49 points or 0.55 per cent, and Nifty settled at 23,203.2, down by 108.60 points, or 0.47 per cent.

The Nifty remained under bearish pressure for yet another session. Sentiment remains weak as the index declined after encountering resistance at a crucial moving average, according to experts.

“This bearish sentiment may persist in the short term or as long as the index remains below 23,400. On the downside, it could drift toward 23,000. A decisive break below 23,000 might trigger a broader market correction. Conversely, 23,400 is likely to remain a strong resistance level,” said Rupak De of LKP Securities.

Since the recent peak in September 2024, the Nifty 50 has fallen by 11.5 per cent, with the Midcap index down 12 per cent and the Smallcap index sliding 11 per cent.

Sensex

IANS

“The decline has steepened over the past week, but the real story lies beneath these numbers. Many individual stocks are down by 25-40 per cent, reflecting the broader pain that major indices often mask,” according to Krishna Appala of Capitalmind Research.

Nifty Bank ended at 49,540.6 down by 738.10 points or 1.50 per cent. The Nifty Midcap 100 index closed at 54,607.65 after climbing 123.85 points, or 0.23 per cent, while the Nifty Smallcap 100 index closed at 17,672.05 after adding 28.75 points, or 0.16 per cent.

On the Bombay Stock Exchange (BSE), 2,055 shares ended in the green and 1,887 shares in the red, whereas there was no change in 123 shares.

In the Sensex pack, Zomato, Nestle India, Asian Paints, Power Grid, Tata Steel, L&T, ITC, Sun Pharma, Titan, Adani Ports, Tata Motors, Hindustan Unilever Limited, Maruti Suzuki and NTPC were the top gainers. Whereas, Infosys, Axis Bank, Kotak Mahindra Bank, M&M, ICICI Bank, TCS and Tech Mahindra were the top losers.

In the meantime, foreign institutional investors (FIIs) sold equities worth Rs 4,341.95 crore on January 16, on the other hand, domestic institutional investors bought equities worth Rs 2,928.72 crore on the same day.

(With inputs from IANS)

Marketing & Advertising

Eveready Lighting illuminates the spiritual journey of devotees at Maha Kumbh Mela 2025

~ Illuminates the grandest spectacle Kumbh Mela 2025 with 13,000 Eveready LED lights including a combination of street lights and flood lights ~

~ Creates a brighter and safer experience for millions of devotees attending the gathering ~

Kumbh Mela, Everready

Link: https://www.instagram.com/p/DEmQF0zNp9e/

16th January, 2025; National:

In an endeavor to illuminate the spiritual experience for millions of devotees at the Maha Kumbh Mela 2025, Eveready Lighting, the fastest-growing business category of Eveready Industries India Limited (EIIL), installed 13,000 cutting-edge LED lights, ensuring a vibrant, safe, and well-lit environment.

This monumental effort includes the deployment of 150W streetlights (Minimight II) and 250W floodlights (Performax PC), strategically placed across the expansive Kumbh grounds. This initiative not only highlights Eveready’s product capabilities but also reinforces its commitment to enhancing the safety, convenience, and overall experience of attendees.

Kumbh Mela 2025 lighting

Further strengthening its association with the Maha Kumbh Mela, Eveready Lighting has also implemented extensive branding initiatives throughout Prayagraj and the Kumbh Mela grounds by facilitating hoardings and pole branding in key areas, police booth branding, no parking boards and RWA society branding, and signage near changing rooms.

Speaking on the activation, Mohit Sharma, Senior Vice President & Business Unit Head – Lighting & Electricals, Eveready Industries, said, “The Maha Kumbh Mela is an unparalleled cultural phenomenon, drawing millions of people from all walks of life. At Eveready Lighting, we are honored to play a role in illuminating this grand spiritual journey. By ensuring a safe and well-lit environment, we aim to contribute to a truly transformative experience for all attendees and hope to integrate in meaningful ways to create lasting value.”

Kumbh Mela 2025 event

Recognizing the scale and significance of the Maha Kumbh Mela, Eveready Lighting’s efforts exemplify its deep-rooted mantra of making a difference. By seamlessly integrating advanced lighting solutions with the event’s cultural values, the brand reaffirms its dedication to empowering communities and fostering progress.

Furthermore, Eveready Lighting leveraged its social media platforms to create buzz around the Maha Kumbh Mela 2025.

As it lights the way for millions of pilgrims, Eveready continues to inspire a brighter and better India.

Business

Indian stock market ends higher, Adani Ports among top gainers

Sensex trades higher on strong global cues

Indian stock market ends higher, Adani Ports among top gainersIANS

India’s domestic benchmark indices ended higher on Thursday as Adani Ports was among the top gainers.

Sensex ended at 77,042.82 up by 318.74 points, or 0.42 per cent, and Nifty settled at 23,311.80, up by 98.60 points, or 0.42 per cent.

Adani Ports closed at Rs 1,151 per share after gaining by Rs 22.85 or 2.03 per cent.

Nifty Bank ended at 49,278.70 up by 527 points, or 1.08 per cent. The Nifty Midcap 100 index closed at 54,483.80 after climbing 584.80 points, or 1.09 per cent, while the Nifty Smallcap 100 index closed at 17,643.30 after adding 289.35 points, or 1.67 per cent.

According to experts, benchmark indices continued to trade in the positive, albeit off highs, driven by positive investor sentiment following mild US inflation data, which raised hopes for a potential rate cut by the Federal Reserve.

Adani Enterprises' share jumps nearly 5 pc, Adani Ports among top gainers

Adani Ports closed at Rs 1,151 per share after gaining by Rs 22.85 or 2.03 per centIANS

“Additionally, favourable developments in the Israel-Hamas ceasefire and a reduced trade deficit further boosted the market’s upward movement. However, weak economic growth data from the UK dampened some of this optimism. Despite higher valuations compared to leading indices, the broader market saw bargain buying during the recent correction,” they added.

On the Bombay Stock Exchange (BSE), 2,779 shares ended in the green and 1,187 shares in the red, whereas there was no change in 101 shares.

In the Sensex pack, Adani Ports, SBI, IndusInd Bank, Axis Bank, Tata Motors, Bharti Airtel, Bajaj Finserv, NTPC, Maruti Suzuki, Ultra Tech Cement and ICICI Bank were the top gainers. Whereas, HCL Tech, Infosys, Hindustan Unilever Limited and ITC were the top losers.

In the meantime, foreign institutional investors (FIIs) sold equities worth Rs 4,533.49 crore on January 15, on the other hand domestic institutional bought equities worth Rs 3,682.54 crore on the same day.

(With inputs from IANS)

Business

8th pay commission: Salary of government employees will increase by 186% in the 8th pay commission, this is how you will get benefit

8th pay commission: Salary of government employees will increase by 186% in the 8th pay commission, this is how you will get benefit
8th pay commission: Salary of government employees will increase by 186% in the 8th pay commission, this is how you will get benefit

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PM Modi has approved the formation of the Eighth Pay Commission for central government employees. The government has said that it will be implemented from the year 2026. The names of the chairman and two members of the Eighth Pay Commission will also be announced soon.

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People were eagerly waiting for the Eighth Pay Commission. It was in the headlines for a long time. PM Modi has approved the formation of the Eighth Pay Commission for the employees of the Central Government. The government has said that it will be implemented from the year 2026. The names of the chairman and two members of the Eighth Pay Commission will also be announced soon. Earlier, the 7th Pay Commission was constituted in the year 2016. Union Minister Ashwini Vaishnav has given information about the release of the 8th Pay Commission. He said that the Seventh Pay Commission was implemented in the year 2016 and its tenure is till 2026.

When will it be implemented

The Eighth Pay Commission is to be implemented from the year 2026. In such a situation, the reason behind its announcement so early is that it has been constituted so early so that suggestions, recommendations etc. can be handled properly in time. Government employees were still getting salary under the Seventh Pay Commission. With the implementation of the Eighth Pay Commission, there are high hopes of increase in the salary of the Central Government employees. Under this, the government can increase the pension and allowances of retired employees. The exact date of formation of this commission has not been announced yet.

How much will the salary increase

Ashwini Vaishnav said that soon the chairman and two members will be appointed to monitor the 8th Pay Commission. What will be the difference on the salary due to the arrival of the 8th Pay Commission. Let us know. The minimum salary is estimated to be Rs 34,560. At the same time, 17,280 +DR is expected as pension. This clearly means that the minimum salary can increase by about 186%. Pension can also increase on promotion and salary increase.

What is the 8th Pay Commission

The Central Government constitutes a commission. It is called the Pay Commission. It recommends changes in the salary structure of the Central Government employees. The previous 7th Pay Commission was constituted in February 2014. However, it was implemented on 1 January 2016. In the 7th Pay Commission, the salary of the employees was increased from Rs 7,000 to Rs 18,000. Usually a new commission is constituted every 10 years.

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Business

8th Pay Commission approved for central govt employees; salary, DA hike expected

Money rupee

Reuters

The Union Cabinet has given the green light for the implementation of the 8th Pay Commission, a move that will significantly impact millions of Central government employees and retirees. The announcement was made by Union Minister Ashwini Vaishnaw on January 16, 2025. This decision is expected to lead to a substantial increase in salaries, along with an adjustment in the Dearness Allowance (DA).

The 8th Pay Commission, once established, will revise the pensions and allowances of Central government retirees. This move has been long anticipated by government employees and retirees who have been expecting a revision of their pay scales. The announcement comes just days ahead of the Budget 2025 announcements, adding to the significance of the decision.

While the approval of the 8th Pay Commission has been confirmed, the exact date for its setup has not been announced yet. However, the Union Minister has indicated that the commission will likely be formed by 2026 and will come into force on January 1, 2026.

Impact of the 8th Pay Commission

To oversee the rollout of the 8th Pay Commission, a chairman and two members will be appointed soon. The decision to set up the 8th Pay Commission was taken at a meeting of the Cabinet chaired by Prime Minister Narendra Modi. The Minister stated, “For your awareness, our Prime Minister has approved the establishment of the 8th Central Pay Commission for all Central government employees.”

PM Modi to inaugurate, lay foundation stones for multiple projects in Delhi

IANS

The 8th Pay Commission is expected to ensure that its recommendations are received well before the completion of the term of the seventh pay panel. Consultations will be held with central and state governments and other stakeholders to ensure a smooth transition.

The 7th Pay Commission, set up in 2016, brought significant changes to the salary structure of government employees. Employee unions demanded a 3.68 fitment factor for salary revision, but the government decided on a fitment factor of 2.57.

Anticipated Changes and Benefits

This led to the minimum basic pay for government employees being raised to ₹18,000 per month, compared to the ₹7,000 in the 6th Pay Commission. The minimum pension also rose from ₹3,500 to ₹9,000. The maximum salary became ₹2,50,000 and the maximum pension became ₹1,25,000.

The pay commission plays a crucial role in determining salary structures, allowances, and other benefits for government employees. Its recommendations significantly impact millions of workers and pensioners across the country. There are over 49 lakh central government employees and nearly 65 lakh pensioners.

The formation of the 8th Central Pay Commission marks a crucial step towards revising pay, pensions, and allowances for central government employees. This proactive measure ensures that the recommendations will be reviewed and implemented in time, well before the 7th Pay Commission tenure concludes in 2026.

Business

RBI eases FEMA rules to boost rupee payments in cross-border deals

Reserve Bank Of India

IANS

The Reserve Bank of India (RBI) on Thursday announced the issuing of revised Federal Emergency Management Agency (FEMA) regulations to permit more liberal use of INR accounts held by NRIs to make payments, in order to promote cross border transactions in the Indian rupee and national currencies of trading partner countries.

According to new regulations, overseas branches of Authorised Dealer banks will be able to open INR accounts for a person resident outside India for settlement of all permissible current account and capital account transactions with a person resident in India.

“Persons resident outside India will also be able to settle bona fide transactions with other persons resident outside India using the balances in their repatriable INR accounts such as Special Non-resident Rupee account and SRVA,” according to the statement.

The new rules further allow persons resident outside India to be able to use their balances held in repatriable INR accounts for foreign investment, including FDI, in non-debt instruments.

Reserve Bank of India (RBI)

IANS

Besides, Indian exporters will be able to open accounts in any foreign currency overseas for settlement of trade transactions, including receiving export proceeds and using these proceeds to pay for imports.

The revised regulations and directions to effect these changes have been issued, the RBI statement said.

According to the RBI statement, these changes have been made in the extant FEMA regulations after holding consultations with the Central Government.

To encourage greater use of Indian Rupee (INR) for trade transactions, in July 2022, an additional arrangement in the form of Special Rupee Vostro Account (SRVA) was introduced. Several foreign banks have since opened SRVAs with banks in India.

The Central Bank has also signed memorandum of understanding (MoU) with the central banks of the United Arab Emirates, Indonesia and Maldives, to encourage cross-border transactions in local currencies.

Further, in December 2023 the Foreign Exchange Management (Manner of Receipt and Payment) Regulations were revised to enable cross border transactions in all foreign currencies (including local currencies of trading partner countries) and INR.

(With inputs from IANS)

Business

Good News for central government employees, now LTC facility will be available in Tejas and Vande Bharat

Good News for central government employees, now LTC facility will be available in Tejas and Vande Bharat
Good News for central government employees, now LTC facility will be available in Tejas and Vande Bharat

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The government has made it more convenient by allowing travel in Tejas Express, Vande Bharat Express, and Humsafar Express trains under LTC. LTC (Leave Travel Concession) is an important scheme for central government employees, under which they get the facility of concessional travel to their hometown or any part of India once in four years.

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The Centre has allowed its employees to travel by Tejas, Vande Bharat and Humsafar trains under Leave Travel Concession (LTC). The move comes after the Department of Personnel and Training (DoPT) received several suggestions from various offices/individuals regarding the admissibility of various premium trains under LTC.

The Department has looked into the matter in consultation with the Department of Expenditure and it has been decided that in addition to the existing Rajdhani, Shatabdi and Duronto trains, travel in Tejas Express, Vande Bharat Express and Humsafar Express trains will now be allowed under LTC as per the eligibility of government employees, the DoPT said in an order issued on Tuesday.

Eligible central government employees availing LTC get back the expenses incurred by them on tickets for other journeys in addition to paid leave.

What is LTC service and how are the facilities

LTC (Leave Travel Concession) is an important scheme for the Central Government employees, under which they get the facility of concessional travel to their hometown or any part of India once in four years. This scheme provides an opportunity to the employees to spend time with their family through travel and enjoy the beauty of different parts of the country.

Recently, the government has made it more convenient by allowing travel in Tejas Express, Vande Bharat Express, and Humsafar Express trains under LTC. Along with this, taking a big decision in 2024, the special scheme for travel to Jammu and Kashmir, Ladakh, Andaman and Nicobar Islands, and Northeast region has been extended till 25 September 2026.

This initiative is not only beneficial for the employees but is also helpful in promoting tourism in the country. This scheme gives the employees an affordable and comfortable travel experience and improves their quality of life.

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Business

Indian stock market ends higher, realty sector shines

Sensex trades higher on strong global cues

IANS

India’s domestic benchmark indices ended higher on Wednesday as the realty sector closed in green after a gain of 1.39 per cent.

Sensex ended at 76,724.08, up by 224.45 points, or 0.29 per cent, and Nifty settled at 23,213.20, up by 37.15 points, or 0.16 per cent.

Nifty Bank ended at 48,751.70, up by 22.55 points, or 0.05 per cent. The Nifty Midcap 100 index closed at 53,899 after climbing 222.50 points, or 0.41 per cent, while the Nifty Smallcap 100 index closed at 17,353.95 after adding 96.15 points, or 0.56 per cent.

According to experts, the domestic market continues to be volatile on account of elevated US bond yields, strengthening dollar, and increasing foreign institutional investors (FIIs) outflows.

Market Outlook: Q3 results, FII and economic data key triggers for next week

IANS

“Global markets are cautious ahead of the US December CPI inflation data, which is anticipated to be in the elevated range in the short-term, limiting Federal Reserve’s ability to cut rates. Also, a rise in oil prices & dollar appreciation is likely to affect domestic inflation in the near future,” they said.

On the Bombay Stock Exchange (BSE), 2,152 shares ended in the green and 1,802 shares in the red, whereas there was no change in 110 shares.

In the Sensex pack, Zomato, NTPC, Power Grid, Kotak Mahindra Bank, Maruti Suzuki, Tech Mahindra, L&T, Adani Ports, SBI, HCL Tech, UltraTech Cement, Infosys, Bharti Airtel and Hindustan Unilever Limited were the top gainers. Whereas, M&M, Axis Bank, Bajaj Finserv, Bajaj Finance, Tata Motors, Nestle India, Sun Pharma and Asian Paints were the top losers.

“Another day of choppy trades was witnessed as the market lacked direction. However, sentiment is likely to favour a recovery in the short term, with the potential to reach 23,400 on the higher end,” said Rupak De from LKP Securities.

In the meantime, FIIs sold equities worth Rs 8,132.26 crore on January 14, on the other hand domestic institutional bought equities worth Rs 7,901.06 crore on the same day.

(With inputs from IANS)