Here are the top personal finance news of the day:
Amazon’s Apple Sale Days is live till June 17, 2023. Customers are getting huge discount on different models of iPhones. On iPhone 14 128 GB variant, customers can get discount of 15% bringing down its price to 67,999 rupees. On iPhone 14 Pro 128 GB variant, Amazon has given 10,000 rupees discount bringing down its price to 1.19 lakh rupees. The steepest discount is available on 128 GB variant of iPhone 14 Plus. Amazon is giving 13,000 rupees discount on this model. It is available at 76,999 rupees. While, there is a 6,000 rupees discount on 256 GB variants of both Pro and Pro Max. While, there is 12,000 rupees discount on iPhone 14 Pro Max 128 GB variant. This brings down its price to 1.27 lakh rupees.
Indigo slumps 2% on Gangwal family stake sale news
After reports broke out that the Ganwal family might trim stake in InteGlobe Aviation, shares of budget airline Indigo crashed on Tuesday. The stock closed more than 2% in red at 2,348 rupees apiece. Over the last one year, the shares of the company has generated significant return for investors. But it looks like the airline has hit turbulence. And it is unclear as to how much time it will take to recover from here.
MRF share crosses Rs 1 lakh mark in cash segment
It’s history in the making for MRF. The tyre company’s shares crossed 1 lakh rupees mark in cash segment on Tuesday. The stock hit a record high of 1,00,300 rupees in opening trade on June 13, 2023. But it settled at less than 1 lakh rupees by the end of day. In the last six months the stock has given returns of 9%. While, in last one year, the stock is up 46%. The stock has gained nearly 16% in a month. Despite today’s fall the stock has registered a gain of 42% in last one year.
Gov goes tough on online gaming
Union Minister Rajeev Chandrashekhar said in an interview to The Economic Times that government of India will ban three types of online games in the country. First are those online games which involve betting, second type of games are those which carry tremendous potential of harming users. And third are those games which can be addictive for users. His comments have created lot of buzz in online gaming industry. Games like Dream 11, My Circle 11, etc can get banned in the near future.
Bajaj Housing Finance giving 40 yrs home loan
Bajaj Housing Finance is giving home loans of up to 40 years tenure. This is only available for salaried individuals, who are new home buyers. The housing financier claims that with loan tenures extending to up to 40 years, EMIs will drop to 733 rupees per lakh. Extending loan tenures make loan affordable. But it also increases overall payback amount.Bajaj Housing Finance loans start at only 8.50% per annum for salaried individuals.
PNB allows UPI transactions sans net
Punjab National Bank has launched UPI 123PAY service for customers. Bank’s customers can now make digital payments from any mobile phone without internet access. Account holders will be able to make payments to customers of other banks as well. This service will be available 24*7. Through the UPI 123PAY service, PNB wants to cater to its customers in hinterland who can’t afford smartphones.
Brake co ASK Auto files for IPO
ASK Automotive has filed preliminary papers with Sebi to raise funds through IPO. The share sale process is entirely an offer for sale. Since the IPO is completely an OFS, the entire proceeds will go to the selling shareholders. Company will not receive any funds from the issue. Gurugram-based ASK Automotive is one of the largest manufacturers of advanced braking system for two-wheelers. Some of the clients of the company are TVS Motor, Hero MotoCorp, Greaves Electric Mobility and Bajaj Auto.
Reliance Nippon Life policyholders to get bumper bonus
If you have taken a life insurance policy from Reliance Nippon Life Insurance Company, then, this news is for you. The life insurance company has declared bumper bonus for participating policyholders. In FY23, it has paid bonus worth 344 crore rupees to over 5.69 lakh policyholders. The decision of the company will incentivise policyholders and encourage them to keep policies active.
Hero Moto drives in new Passion+ at Rs 76,301
Hero MotoCorp has driven in refreshed version of its commuter motorcycle Passion+. The two wheeler has been launched at ex-showroom price of 76,301 rupees in Delhi. The new Passion+ is powered by BS-VI phase II compliant 100cc engine. Honda Motorcycle on the other hand has driven in 2023 version of its scooter Dio. The two wheeler is available at ex-showroom price of 70,211 rupees in Delhi. This scooter too is powered by BS-VI phase II compliant 110cc engine.
Policybazaar’s owner aims to hit brea keven in next four yrs
The parent firm of online insurance portal, Policybazaar, the PB Fintech, has said it will hit break even point in four years from now. The company said its loss has almost halved in FY23 to 488 crore rupees as compared to the year ago period. PB Fintech has also said that it will be able to build up cash reserves of 400-500 crore rupees by FY24 end. So, it will not be required to leverage from next fiscal. Apart from Policybazaar, the other platforms run by the company are Paisabazaar, PB partners, doc prime and money wide. In last six months PB Fintech’s share is up 38%. On Tuesday, the stock closed 4% in green at 635 rupees apiece. Improvement in financials can keep the stock going.
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