This is good news for the central government at a time when crude oil prices are rising.
Market players say following the tax cuts, the market mood had changed from bearish to positive, which should help sustain the rally.
Close to 21.5 per cent of this will be sold to Japan's Nippon Life, which will then become the sole promoter of the fund house.
The global high comes amidst the uncertainties of Brexit, a trade war and slowing growth, with traders increasing their silver bets.
The rising price of the precious metal has helped the central bank increase overall forex reserves despite currency reserves not rising, and sometimes even falling.
Smuggled gold, which is selling sharply lower than the spot market price, is also responsible for discounts not ending. Some consumers are selling high amounts of gold.
Half a dozen stocks from the large-cap universe and over two dozen from the mid-cap universe have been replaced.
These include increasing the public float in listed companies to 35 per cent from 25 per cent, increasing the minimum statutory limit for FPI investment in a firm from 24 per cent to the sectoral foreign investment, and lowering government holding in listed public sector undertakings.
India consumes around 24-25 million tonnes of pulses, but sowing trends show this year production is expected to be lower compared to last year.
Official sources say that the finance ministry is aware of the possible spike in smuggling activity and has already asked intelligence agencies to tighten their vigilance and come down on the unofficial entry of gold into India.
The beleaguered Deutsche Bank announced major overhaul of its business, which included discontinuing loss-making equities trading business, creating a new 'bad bank', and cutting 18,000 jobs. Deutsche Equities India employs 35 people, all of whom could face the job axe.
Standard Chartered Bank is setting up an international banking unit primarily to look after Indian company requirements. The bank is looking for a $2-billion loan book in the first five years of business.
Tax experts said that in FY17 around 80,000 people had reported incomes of over Rs 1 crore
A substantial fluctuation is likely because for a long period gold has moved in a narrow range of $ 50-60 and at higher levels short positions were built.
If hallmarking data are anything to go by, the proportion of spurious jewellery in the country might have shrunk significantly in the past five years.
The tribunal, while adjourning the matter for September 16, directed Sebi to file a reply and gave three weeks to the Roys to file a rejoinder.
First, the industry is hoping for brisk business, as, according to projections there will be normal monsoon. Secondly, it is relieved at the fall in import of cheap umbrellas from China which had dented the domestic market for several years.
Besides 15 loan transactions to the Siva group of companies, the former directors also used unique methods to ensure the group did not get into the default list.
Most brokerages have maintained their Sensex and Nifty targets as they believe there is little room for further re-rating in the backdrop of weak earnings.
The fear of price rise gained momentum after reports surfaced that the NAFED procured 50,000 tonnes of onion this season.
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