17,000 new credit cards issued by ICICI linked to wrong users
Vandhe Bharat Passengers to only get half-a-litre water bottles; Boost & Horlicks no longer a health drink; IRCTC launches new Leh-Ladakh package and more....
Investing in Adani Enterprises becomes all the more easier. Now, you will not have to keep any margin to invest in the flagship company of Adani group. Exchanges NSE and BSE have removed the counter from ASM framework. Exchanges had on May 26, included Adani Enterprises under ASM framework. Due to which investors had to keep minimum 50% upfront margin for trading. When, exchanges move a stock under short-term ASM, then, investors have to keep a margin of minimum 50% and maximum of 100% to invest in that stock. Exchanges had moved AEL under short term ASM to stop high fluctuations in the stock price. But relief for those who want to invest in Adani Enterprises. On Friday, the counter closed 2% in red at 2,444 rupees.
Retail Investors over-subscribe Coal India OFS
Coal India share sale was over-subscribed by both retail and institutional investors. In the two-day offer for sale, the government sold more than 18 crore shares in the maharatna. This amounts to trimming of 3 per cent stake in the company. The OFS floor price was 225 rupees apiece. The government currently holds 66 per cent stake in Coal India. The stocks were available at 5 rupees discount in the OFS. The counter settled for the day at 230 rupees apiece on the BSE.
TVs, smartphones to get costlier
TVs, smartphones and laptop prices may start increasing as a key raw material used in manufacturing of electronics has become costlier. This raw material is open cell panel. Prices of which have increased by an average of 15%. Some TV manufacturers have already begun hiking prices. Manufacturers might hike big screen TVs prices by relatively higher margin as prices of open cells used in large screen television sets have risen by relatively higher margin. Open cell panels constitute 60 to 65% of manufacturing cost of TVs. While, these constitute 30 to 35% in case of smartphones. But, nevertheless smartphone companies will also have to hike prices.
Ather drives in its most affordable e-scooter
Amidst concerns of electric two wheelers becoming costlier. Ather has driven in a low cost e-scooter Ather 450S at ex-showroom price of 1.3 lakh rupees. The electric two wheeler manufacturer has promised a top speed of 90 kilo metres per hour on its latest offering. According to most automobile portals, the e-scooter will give a range of around 115 kilometres on single charge. Bookings will start from July onwards.
RBL Bank giving 8.50% to senor citizens
RBL Bank is giving 0.20% higher interest rate on those fixed deposits where premature withdrawal facility is not allowed. But account holders will have to follow one more condition. They will get additional of 0.20% interest rate only if they open non withdrawal FDs of minimum of 50 lakh rupees. Now, let’s check out the rates. Investors can get up to 8.00% interest rate for a period of 15 months to 2 years. The private bank will give 7.00% interest on 1 year FDs. Senior citizens will get additional rate of 0.50% on all these non-withdrawal FDs.
Ujjivan SFB giving as high as 8.75% on 1 yr FDs
Well, if you don’t have 50 lakh rupees. Don’t feel left out! A small finance bank is giving opportunity to cash in on high interest rates on low value fixed deposits. Ujjivan Small Finance Bank is giving as high as 8.25% on 560 days FD and also on 1 year FDs. While, depositors will get 7.20% on 5 year FDs. On shorter tenure of 7 days, depositors will get 3.75% interest. Senior citizens will get 0.50% additional rate over and above all these FDs.
New cars again back in vogue
The sale of used cars in India has witnessed a decline over the last six months or so. There was significant growth in used car business after the COVID-19 pandemic. However, companies like Spinny, CarDekho, and Cars24 are currently facing challenging situations. People are buying more new cars. It is becoming increasingly difficult for companies in used car business to generate profits. CarDekho has already flagged issues with its profitability. On the other hand, according to data from the Society of Indian Automobile Manufacturers, the sale of new passenger vehicles in the country reached a record high of over 40 lakh units in FY23. Now, people are buying more new cars than second hand cars. Probable reasons are improving situation of chips used in manufacturing of cars and resultant fall in waiting period of passenger vehicles. Reduced price gap between second hand and new cars might be another reason too.
You will be surprised to know this thing about UPI!
People are making UPI transactions en masse. Transaction volumes have crossed 900 crore mark in May, 2023. In value terms, transactions almost touched 15 lakh crore rupees in the month of May. Be it on sequential basis or yearly basis, transactions have only risen in this month. According to a report by PwC India, UPI transactions are likely to hit 100 crore mark on every day basis by FY27. According to that report, UPI will account for 90% of retail digital payments in the country. Currently, it accounts for 75%. With exponential rise in UPI transactions, other modes of payment can get hit. But nevertheless, plastic money transactions rank second after UPI in both volume and value terms in the country.
Get instant discount on Myntra with this credit card
Kotak Mahindra Bank has tied up with Myntra for co-branded credit card. Kotak Mahindra Bank on tie-up with online retailer Myntra has launched a digital fashion co-branded credit card. The card has some features like instant discounts on transactions on Myntra. It also offers cashback on other platforms like Swiggy, PVR and Cleartrip.
Published: April 26, 2024, 15:19 IST