The Indian benchmark indices are trading on a negative note with Nifty down 26 points at 11,838 while the Sensex shed 117 points and is trading at 39,569 level.Nifty Realty is down over 1.5 percent dragged by Godrej Properties which is down 10 percent followed by Indiabulls Real Estate, Unitech, Sunteck Realty and Sobha.From the pharma space, the top losers are Sun Pharma which is down over 2 percent followed by Lupin, Cadila Healthcare and Aurobindo Pharma.Close The top losers from the banking space are YES Bank which is down over 5 percent followed by ICICI Bank, IDFC First Bank and HDFC Bank. related news ITDC jumps 9% on merger with Kumarakruppa Frontier Nifty Bank marches toward record high on likely resolution of 4 NPA cases in December BGR Energy share price locked in 20% upper circuit on Rs 4,442-cr order win Nifty Energy is however up half a percent led by ONGC, BPCL, HPCL and Indian Oil Corporation.India VIX is up 0.07 … [Read more...] about Nifty Realty underperforms dragged by Godrej Properties; Tata Motors, YES Bank down 2-5%
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China is exporting textiles to India through Bangladesh to get around a tax increase on imports, undermining New Delhi's efforts to support local manufacturers, industry sources said.Earlier this week, India doubled the import tax on more than 300 textile products to 20 percent, marking the second tax increase on textiles in as many months.This is aimed at providing relief to the country's domestic textile industry, which has been hit by cheaper imports. India's total textile imports jumped by 16 percent to a record $7 billion in the fiscal year to March 2018. Of this, about $3 billion were from China.Close Textiles are India's second largest job provider directly employing nearly 51 million people and accounting for 5 percent of India's gross domestic product, and 13 percent of its export earnings. related news PM Narendra Modi arrives in Kanpur to chair first meeting of National Ganga Council US-China trade deal cuts tariffs for Beijing promise of big farm purchases Hong … [Read more...] about Free-trade pacts hamper India’s efforts to curb China textile imports
Rahul AgarwalIn its latest Monetary Policy Committee (MPC) meeting on December 5, the Reserve Bank of India kept key rates unchanged at 5.15 per cent (lowest in nine years, after five straight cuts with a cumulative 135 bps reduction this calendar year, to boost the country’s sagging economy.RBI retained its 'accommodative' policy stance, which suggests that this is a pause rather than an end to the loosening cycle, and it still has room for a rate cut. Core inflation, which excludes energy and food items, slid beyond a seven-year low of 3.47 per cent, which clearly indicates that there is hardly any demand for non-food items in the market.Close Usually, a rate cut helps revive economic growth as it allows retail customers to avail cheaper loans and works like a big booster for the large industrial sector, who will be able to avail bulk loans at lower interest rates. related news Reliance forms a base, recommend delta appreciating based … [Read more...] about Are the RBI’s repo rate cuts enough to reinforce GDP growth?
US President Donald Trump's limited trade deal with China removes a major hurdle for Apple and other technology stocks that have already surged this year to record highs.The so-called Phase One deal announced, but still not signed, on Friday suspends the planned imposition of new 15 percent tariffs on Sunday that would have hit USD 160 billion in Chinese consumer goods just weeks before Christmas, including USD 115 billion worth of iPhones, laptops and other electronics.The deal would also see the United States reduce existing tariffs on other goods. China has agreed to boost imports of US energy, pharmaceutical and agricultural products, although Chinese officials offered no details on the amount of US goods Beijing had agreed to buy.Close If it is signed, Trump's long-awaited deal will be a relief to Apple, among the US companies with the most to lose in the trade war between the world's two largest economies, along with chipmakers who make the components in its devices, which are … [Read more...] about Wall Street Weekahead: Trade deal removes major hurdle for rally in Apple and tech
Police have registered an offence against two employees of a co-operative bank and their suspended colleague for allegedly stealing and leaking customers' data by hacking into the bank's system, an official said on December 14.As per the complaint lodged by a top official of the Shamrao Vithal Cooperative (SVC) Bank with Shree Nagar police station here, the accused leaked the data of its at least 447 customers, due to which the bank incurred losses to the tune of Rs 29 crore.Based on the complaint, Thane city police on December 13 registered a case against Shaktil Kubal, who is a suspended employee of the bank, Parag Shinde, who works at the Delhi branch of the bank and Rahul Satam from its Coimbatore branch.Close The fraud came to light when one of the customers of the bank complained about his account details being leaked out of the bank, the official said. related news 'Gamosa' to 'Joi Aai Asom', the signs of pride that shaped Assam protests PM Narendra Modi arrives in … [Read more...] about Three booked for stealing & leaking bank customers’ data