Shares of SBI Cards and Payment Services plunged almost 11 percent in morning trade on BSE on October 23, a day after the company reported a huge spike in bad loans during the September quarter.
SBI Card reported that its gross non-performing assets (NPAs) rose from 1.4 percent in the April-June quarter to 4.3 percent in Q2.
In Q2FY21, SBI Card posted a 46 percent fall in net profit to Rs 206 crore over Q2FY20.

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The Rs 518 crore public offer of Equitas Small Finance Bank has subscribed 1.94 times on October 22, the final day of bidding.

The offer has received bids for 22.48 crore equity shares against offer size of 11.58 crore equity shares, the subscription data available on the exchanges showed. The offer size excluded anchor book, through which company had raised Rs 140 crore on October 19.

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Newgen Software Technologies share price gained over 6 percent intraday on October 22 jumping over 15 percent in the last 2 days.
The company’s quarterly net profit was at Rs. 27.52 crore in September 2020 up 745.77 percent from Rs. 3.25 crore in September 2019. EBITDA margin was up 26.5 percent from 5.9 percent amid strong cost rationalisation initiatives undertaken by the company.
Net sales was at Rs 145.17 crore in September 2020 up 10.71 percent from Rs. 131.13 crore in September 2019.

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Larsen & Toubro (L&T) share price gained over 2 percent in the morning session on October 20, a day after the company emerged as the lowest bidder for the high-speed Mumbai-Ahmedabad rail corridor.

The National High Speed Rail Corporation Limited (NHSRCL) on October 19 said Larsen & Toubro has emerged as the lowest bidder for the largest segment of the Mumbai-Ahmedabad bullet train project.

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ACC share price touched a 52-week high of Rs 1,597.45, adding 2 percent in the early trade on October 20, a day after the cement manufacturer reported a jump in profits in the third quarter.

The company, which follows January-December financial year, posted a consolidated net profit of Rs 363.85 crore, up 20.26 percent year-on-year (YoY) for the September quarter. It reported a profit of Rs 302.56 crore in the corresponding quarter of the previous financial year.

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Consolidated revenue grew 4.5 percent to Rs 4,477.18 crore during the reported quarter from Rs 4,282.3 crore in the year-ago period, it said in a BSE filing.

 Tata Communications share price hit 5 percent upper circuit on October 19 after the company declared its September quarter results.

The company on October 16 posted an around seven-fold jump in consolidated net profit at Rs 384.81 crore for the September quarter. The company had registered a profit of Rs 54.31 crore in the corresponding period of the preceding fiscal.

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major HCL Technologies reported a 7.4 percent rise in net profit for at Rs 3,142 crore for the September quarter as against Rs 2,925 crore in the previous quarter. The net profit beat CNBC-TV18 analysts' poll estimates of  Rs 3,046 crore.

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The share touched its 52-week high Rs 1,605.45 and 52-week low Rs 675.80 on 14 October, 2020 and 14 November, 2019, respectively.

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Infosys NSE -2.26 % forecast increased expansion in revenue for this financial year as India's second largest software exporter grew profit by nearly a fifth in the second quarter, on the back of rising demand for digital services from global clients.

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Tata stell share price was up over a percent intraday on October 15 after Jefferies retained buy call on the stock.
The global research firm has maintained buy call on the stock with a target of Rs 485 per share. It is of the view that BSL gives a strong start to Q2 steel results adding that BSL's performance has positive read-through for Tata and JSW’s standalone results, according to a CNBC-TV18 report.

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IT services company Infosys share price declined 2 percent in the morning trade on October 14, with the company expected to announce its earnings for the September quarter later in the day.

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Investment in mutual funds through SIPs remained lacklustre with inflow dropping for the sixth-consecutive month to Rs 7,788 crore in September amid challenging economic environment. The trend is expected to reverse only slowly as investors feel more confident to save more once their own income stream stabilises, said Vidya Bala, co-founder of Primeinvestor.in.

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The Board of directors will be considering a proposal of buyback of equity shares of the company at the meeting scheduled to be held on October 13, 2020. The company will announce the results for the second quarter ended September 30, 2020, in the aforesaid meeting.

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ITC share price jumped 4 percent in the morning trade on October 12 after CLSA upgraded the stock to buy.
The research firm has upgraded the stock to buy from outperform with the target at Rs 220 per share. It is of the view that the FMCG firm's long-term positives are unfolding as revenue diversifies and the FMCG segment is set to become a major value driver, CNBC-TV18 reported.
ITC's legacy cigarette business is providing cash to meet its ambitious goals. It expects FMCG to deliver an EBITDA CAGR of 30 percent in FY20-23, adding that value-accretive acquisitions and improving capital allocation will provide support.

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Circuit limits on a number of stocks have been revised with effect from today on both Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). While some shares’ circuit filter limits have been widened, some others limits have been narrowed. Some of the marquee names include Adani Transmission, where the circuit limit has been changed from 10% earlier to 20%, effective today. Cholamandalam Financial HoldingsEmami Paper Mills, Lakshmi Vilas Bank, Indian Overseas BankLaurus Labs are some of the other firms where circuit limit has been revised upwards from 10% to 20%.

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  1. Wipro share price added 4 percent in early trade on October 8 on reports of the Board considering buyback of shares.
  2. The Board of directors will be considering a proposal of buyback of equity shares of the company at the meeting scheduled to be held on October 13, 2020.
  3. The company will announce the results for the second quarter ended September 30, 2020, in the aforesaid meeting.

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Mutual funds' asset base rose by 12 per cent to Rs 27.6 lakh crore in the quarter ended September 30 mainly due to appreciation in the value of their existing holding in equity-oriented funds. The average asset under management (AAUM) of the industry, comprising 45 players, was at Rs 24.63 lakh crore in April-June quarter, according to data by Association of Mutual Funds in India (Amfi).

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Gold was X on Wednesday morning in Asia, hit by U.S. President Donald Trump’s shock cancellation of talks over the latest stimulus measures and a strengthening dollar.
Gold futures slid 1.17% at $1,886.45 by 11:44 PM ET (3:44 AM GMT), after hovering near a one-week low hit during the previous session. The dollar was up on Tuesday morning.

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Shares of Tata Steel NSE 4.43 % advanced over 5 per cent in early trade on Monday after reports that Chinese steelmaker Jingye Group has expressed an interest in taking over the company’s UK operations.


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Big Bull Rakesh Jhunjhunwala said the recent agriculture reforms would benefit both consumers and farmers in the coming years, and expects wastage in the sector to drop from here on. He said agriculture can become one of the largest value-added exports of India.

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Reliance Industries Ltd (NS:RELI) said on Wednesday U.S. Fund General Atlantic plans to invest 36.75 billion rupees ($498.31 million) for a 0.84% stake in its retail arm, making it the latest in a series of investments at the Indian oil-to-telecoms conglomerate.

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Reliance Industries Chairman Mukesh Ambani from Mumbai city topped the list for the ninth consecutive year, registering a fortune of over Rs 6 lakh crore. New Delhi maintained its number two spot, but the number of wealthy people living there declined from 2019.

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·         UTI AMC IPO will open on September 29 and close on October 1

·         The mutual fund company will offer 3.8 crore of its shares in the price band of ₹552 -554

 

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Homegrown digital financial services platform Paytm on Monday announced that its wholly-owned subsidiary Paytm Money has thrown open stockbroking access for everyone in the country. The company is looking to onboard over 10 lakh investors in FY21.
Earlier, Paytm Money had registered over 2.2 lakh investors in its early access program. Out of these, 65 per cent of users are in the age group of 18 to 30 years which reflects that more millennials are now building their wealth portfolio.

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BENGALURU, Sept 28 (Reuters) - Indian shares rose on Monday, boosted by state-owned banking stocks on hopes that the government may infuse some capital into the sector as early as the coming quarter, with gains in Asian markets aiding sentiment.

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Private sector lender, Lakshmi Vilas Bank (LVB) on September 27 said its liquidity position continues to remain strong and it has a fully functional board despite the rejection of seven directors by shareholders at the recent annual general meeting (AGM).

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UTI Asset Management Company (AMC) on Thursday fixed a price band of Rs 552-554 per share for its initial public offering (IPO), that will open for public subscription on September 29. The IPO would open for public subscription on September 29 and close on October 1. The bidding for anchor investors would open on September 28

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The Vodafone Group has won a long pending arbitration case against the Indian tax department's demand of Rs 20,000 crore on a retrospective basis, the Permanent Court of Arbitration in Hague ruled on Friday.

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Tata Consultancy Services rose 4 per cent in Friday's trade after the company said it will be building the technology infrastructure for US and Canada-based women’s fashion retail chain Maurices. The partnership value was not disclosed.

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Reliance Jio has partnered with 22 international airlines for in-cabin mobile services, including voice, data and SMS
Reliance Jio is now offering in flight mobile services on 22 international flights with its postpaid plans starting at Rs 499. The Mukesh Ambani-owned telecom operator has partnered with airlines for in-cabin mobile services, including voice, data and SMS. While data and SMS services are available in all partner airlines, the outgoing voice services are available only in select airlines. Moreover, incoming voice calls are not included in the in-flight communication services offered by Jio.

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NEW DELHI: Six days of stock correction has hit not only small investors, even seasoned hands such as Rakesh Jhunjhunwala has taken a big knock.
Some of the Big Bull’s portfolio stocks have plunged up to 24 per cent in this round. Sensex has slipped almost 6 per cent in this round of correction since September 16, and Nifty 5.7 per cent.

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SURAT: A major fire break out at the Hazria Gas processing plant of the oil and Natural Gas Corporation Limited (ONGC) on Thrusday early morning. As per the local authorities, three back to back explosion at the plant sparked the fire.

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State-owned defence company Mazagon Dock Shipbuilders will launch its initial public offering on September 29, people familiar with the matter told Moneycontrol. The issue will close on October 1, 2020. 
The government company is likely to raise around Rs 400-550 crore via its maiden public offer, which reduced from earlier issue size of around Rs 700-800 crore, sources said.

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  Global selloff sends Sensex tumbling 812 pts, Nifty 50 slips below 11,250; jindal steel dives 13% , Induslnd         Bank 9%

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  The public issue will open on September 21 at a price of band of Rs 1229-1230 per share. It will     close on September 23

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  Angel Broking IPO to open on September 22; price band set at Rs. 305-306

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A segregated portfolio can be created in a mutual fund scheme by AMC in case the securities held by them are downgraded below investment grade and subsequent downgrades in credit rating.

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This article is posted for testing purpose 

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Beware of Chinese bearing gifts, or rather Chinese ecommerce companies bearing gifts. India’s government, worried that many of China’s online merchants are in effect abusing this country’s no-cap rule on duty-free gifts, is considering setting an upper limit on the number of overseas gifts any citizen can receive in a year. 

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Within 10 days of the Modi government winning a second term, the finance ministry took a major step to clean up the income tax department and "compulsorily retired" a dozen high-ranking officers facing charges ranging from corruption and disproportionate assets to non-performance. Sources said the finance ministry has invoked Rule 56J of the "fundamental rules" against the officers, citing "public interest". 

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A dovish Federal Reserve can use tools such as rate cuts to lessen the damage of America’s tariff skirmishes with China and Mexico, but it is either limited in its effectiveness or in its motivations, two economists told CNBC on Thursday. Instead, the U.S. has to resolve those issues at the negotiating table, Nathan Sheets, chief economist at asset manager PGIM Fixed Income, told CNBC at the IIF Spring Membership Meeting in Tokyo.

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Shares of Beyond Meat soared 14% in extended trading on Thursday after the plant-based alternative meat company reported its first quarterly report since going public. The company reported revenue of $40.2 million, surpassing the expected $38.9 million, and earnings of 14 cents per share. The company expects $205 million in revenue this fiscal year.

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The company withdrew its application for the Mission Rock plant in a letter to the California Energy Commission dated May 21. That decision ended a years-long conflict over the permitting of the plant, a 255-megawatt combustion turbine facility planned on the banks of the Santa Clara River in Ventura County, northwest of Los Angeles. The Native American Chumash people opposed the plant as a disruption to a river environment that they consider sacred.

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Auto major Mahindra and Mahindra Saturday reported 3 per cent decline in total sales at 45,421 units in May. The company had sold 46,848 units in the same month last year, M&M said in a statement. 

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Asia stocks hovered near four-month lows on Monday amid concerns about US-China tensions while the euro was confined to a narrow range after the weekend's European Parliament elections. MSCI's broadest index of Asia-Pacific shares outside Japan was virtually flat, a sliver above from a four-month low touched on Friday, with market holidays in the US and UK denting trading volumes. Casting a shadow over many share markets were worries the China-US trade conflict was turning into a technology cold war between the world's two largest economies. Japan's Nikkei average was up 0.3% by its midday break. Chinese shares began Monday higher but then slipped, with the benchmark Shanghai Composite down 0.3% and the blue-chip CSI 300 falling 0.6%. Hong Kong's Hang Seng dropped 0.5%.

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The market touched record highs on election results day with the Nifty50 hitting 12,000 and BSE Sensex 40,000 intraday, though both indices cooled off from their day's high in the afternoon trade on May 23. Current leads of more than 340 seats indicate that BJP-led NDA is expected to form government at the Center for the second time in a row.

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In a bid to support the fintech industry in, the Reserve Bank of India introduced a regulatory sandbox for the startups to test their products and services. Now a similar initiative has been taken by market regulator Securities and Exchange Board of India (SEBI) and insurance regulator Insurance Regulatory and Development Authority of India (IRDAI).

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Farmers take to the streets over farm Bills

They block rail, road traffic; accuse Centre of implementing ‘anti-farmer’ policies

Tata Sons offers to buy out Shapoorji Pallonji Group's stake in shares dispute

Tata Sons has offered to buy out Shapoorji Pallonji group's stake in the holding company to help the group raise money to pay its debt. The Supreme Court has also barred the Mistry group from pledging or selling any Tata shares until October 28, when it starts hearing final arguments in the case.


Diversity and inclusion in insurance: From awareness to action

The Canadian insurance industry still has work to do when it comes to promoting and encouraging diversity and inclusion – but things are moving in the right direction. Earlier this month, more than 300 individuals from the Canadian insurance industry gathered at Women in Insurance Toronto – a lively and empowering networking event focused on boosting the careers of women in insurance. The message resonating at the event was clear: It’s time to turn awareness into action.

GSTN releases prototype of a new simplified return filing system

GST Network on Wednesday released a demo tool for the new and simplified return filing form which will be launched sometime later in the year. The prototype available on webportal gives stakeholders a feel of what the new return filing system will look like. GSTN also sought stakeholder feedback on the proposed offline tool. It will allow users to use functionality such as drop down menus, invoice upload, upload of purchase register for matching with system created inward supplies.

Singapore, Canada seek to join WTO consultations over India's ICT products tariff

Singapore and Canada have expressed interest in joining consultations in a case filed by Japan in the WTO's dispute settlement body against India's import duties on certain information and communication technology products, including mobile phones. According to a communication of the World Trade Organisation (WTO), both countries have stated that they have a substantial trade interest in information and communication technology (ICT) goods. 

Bajaj Finance joins Rs 2-trillion m-cap club; stock zooms 105% in 14 months

The company recorded a strong 57 per cent YoY growth in net profit at Rs 1,176 crore in March quarter, while net interest income, or NII, grew 50 per cent at Rs 3,394 crore on YoY basis.

Ministry held session for stakeholders in renewable energy industry

The Ministry of New and Renewable Energy today held a brainstorming session for all stakeholders in the renewable energy industry. Major challenges faced by the industry were deliberated upon at the day long meet.

SEBI, IRDAI Launch Regulatory Sandbox Framework For Fintech Startups

In a bid to support the fintech industry in, the Reserve Bank of India introduced a regulatory sandbox for the startups to test their products and services. Now a similar initiative has been taken by market regulator Securities and Exchange Board of India (SEBI) and insurance regulator Insurance Regulatory and Development Authority of India (IRDAI).

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