Don't miss the top 12 finance stories of the day, June 19, 2020

Here’s a roundup of the top 12 financial developments of the day:

Indian stock markets are going up when the economy is sliding down

The performance of India’s stock markets in recent weeks has proved, yet again, that there is little connection between what happens to the real economy and how investors bet on shares. Read more

Diesel prices hit new all-time, crosses Rs 77 mark in Delhi

On Friday, fuel prices were raised for the thirteenth consecutive day. Diesel prices are now at new highs in Indian cities, largely due to recent hike in excise and local taxes. In Delhi, diesel prices crossed the Rs 77 mark for the first time after a 63 paise per litre hike, according to prices on Indian Oil's website. Read more

Gold price June 19: Gold price falls to Rs 47,440 per 10 gram

Domestic gold futures fell by 0.18 percent on Friday, 19 June, tracking global rates, as the country slowly eased restriction in a phased manner under ‘Unlock 1.0’. Gold prices this week have also seen fluctuation due to fears of a second wave of COVID-19, with new cases being reported in China. Read more

Reliance Jio is now net debt-free; how did it manage eight months ahead of target?

Indian telecom industry seems to be going through its worst nightmare as a majority of operators are being crippled due to huge debts. While most of them are still finding ways to rise above the situation, Reliance has managed to emerge as a debt-free operator. But the bigger question is how they managed to pull off the unimaginable? Read more

Mukesh Ambani becomes 11th richest globally after his net worth scales to Rs. 4.58 lakh cr

After the stock price of Reliance Industries made new high and has jumped 100% since the 52-week low price attained in March due to market rout, the real time wealth of the oil to telecom conglomerate's MD and CEO Mukesh Ambani surged in real time to cross $60 billion for the first time. And subsequently he became the 11th richest person globally. Read more

PMC Bank: RBI extends restrictions for 6 months, doubles withdrawal Limit

On Friday, the Reserve Bank of India (RBI) extended regulatory restrictions on the fraud-hit Punjab and Maharashtra Co-operative (PMC) Bank for another six months to 22 December 2020. Read more

Can India boycott China and make phones locally? Yes, but it's a long, arduous journey

In recent times, political conditions coupled with India’s economic situation has given rise to widespread sentiments around boycotting Chinese products. With India’s smartphone market being one of the most attractive in the world, manufacturers naturally heeded to Prime Minister Narendra Modi’s ‘Make in India’ call in September 2014, to unveil local manufacturing plans. Read more

Father's Day 2020 tech gifts: best smart bands for your father under Rs. 2,000

Every year, the third Sunday in June is celebrated as the world's father's day across the globe to celebrate and honor all the fathers that work hard to take care of their family. This year, father's day falls on the 21st of June, and here is how you can make your father happy. Read more

Jeep India launches pre-owned car service ‘Selected For You’ in India

FCA India has announced the introduction of its all-new certified pre-owned vehicle business - ‘Selected For You’. This comes after three years of the launch of the first-ever made-in-India Jeep. With nearly 60,000 Jeep Compass SUVs on the road, customers now have the opportunity to trade in any existing vehicle for either a new or a certified pre-owned Jeep Compass by registering on the company’s dedicated website. Read more

33% Infosys’ staff to permanently work from home globally in future

In view of the coronavirus pandemic, Infosys has decided to make some of its staff work permanently from home. The company has said that once the normalcy returns, initially 50 per cent of employees will start coming to office, while the remaining will work remotely. Read more

CBI books agro company directors for over Rs 398 crore bank fraud

The CBI has booked Jagat Agro Commodities and its directors Sant Lal Aggarwal and Sudha Pawa among others for alleged bank fraud of over Rs 398 crore in a State Bank of India led consortium, officials said Thursday. Read more

Kerala govt buys 65 Tata Nexon EVs, becomes 1st state to use electric SUVs for enforcement drives

The Kerala Motor Vehicle department has decided to buy 65 Tata Nexon electric SUVs. The orders for the vehicles have been placed and department plans to use them for enforcement drives. Read more