Market benchmark Sensex tumbled over 323 points after an intense last-hour sell-off on Wednesday, triggered by losses mainly in index heavyweights Infosys, Reliance and HDFC.
SBI will auction two non-performing accounts (NPAs) next month to recover dues of over Rs 313 crore, according to a notice by the lender. The two accounts to be put up for e-auction on August 6 are Bhadreshwar Vidyut Pvt Ltd (BVPL) with a loan outstanding of Rs 262.73 crore and GOL Offshore Ltd with Rs 50.75 crore dues. "In terms of the bank's policy on sale on financial assets, in line with the regulatory guidelines, we place these accounts for sale to ARCs/banks/NBFCs/FIs, on the terms and conditions indicated there against," SBI said in the notice. The reserve price for the auction of Bhadreshwar Vidyut is set at Rs 100.12 crore and for GOL Offshore at Rs 51 crore.
Earlier, Finance Minister P Chidambaram had said he thought the figure was 262 tonnes.
Registering an upward trend for five days in a row, the total active caseload has gone up to 2,19,262 which is 1.93 per cent of the total infections in the country, while the recovery rate has dropped to 96.68 per cent, the data stated.
The weekly positivity rate was recorded at 2.31 per cent, according to the health ministry.
India will face the winners between Bangladesh and Sri Lanka, who play in the last group league encounter.
A consortium of lenders led by State Bank of India (SBI) has agreed to provide loans to Tata Group for the smooth operations of loss-making Air India. Tata Group, which won the bid to acquire the national carrier along with Air India Express and 50 per cent stake in AISATS in October last year, is expected to formally takeover the airline on Thursday. Sources said the SBI-led consortium has agreed to grant both term loans and working capital loans depending on the airline's requirements. All large lenders, including Punjab National Bank, Bank of Baroda, and Union Bank of India, are part of the consortium, they added.
With the fresh cases, the country's total tally of COVID-19 cases climbed to 3,43,77,113.
The Reserve Bank of India (RBI) has approved a three-member committee of directors to run the day-to-day functioning of cash-strapped Lakshmi Vilas Bank.
He said stringent curbs have been put in place as part of the Graded Response Action Plan for COVID-19 to check the spread of the infection and the Delhi Disaster Management Authority (DDMA) will decide on implementing more restrictions.
Tata Group's takeover of loss-making national carrier Air India is most likely delayed by a month till January as the completion of procedures taking longer than expected, an official said on Monday. In October, the government accepted the highest bid made by a Tata Sons company for 100 per cent equity shares of Air India and Air India Express along with its 50 per cent stake in ground-handling company AISATS -- the first privatisation in 20 years. At that time, the government had stated that it wanted to complete the transactions, which included Tatas paying Rs 2,700 crore in cash, by December end.
Joginder Tuteja looks at the major films that released in theatres and how they fared.
A summary of Ranji Trophy matches played on Thursday.
India's residential market is expected to sustain demand momentum despite rise in mortgage and property rates as sales this year across the top 7 cities are likely to breach pre-pandemic level of 2.62 lakh units, industry players said. After braving four back-to-back disruptions in form of demonetisation, RERA, GST and COVID-19 in the last 6 years, industry experts feel the housing market is going through a lot of structural changes and is now at the start of a long-term upcycle. Homebuyers body FPCE gives credit to the Real Estate Regulatory Authority (RERA) under the Real Estate (Regulation & Development) Act, 2016 for this improved buying sentiment.
The death toll has climbed to 4,39,529 with 509 more fatalities, according to the data updated at 8 am.
The companies' combined net profit declined by 10.1 per cent y-o-y during June '19 quarter against 26.2 per cent y-o-y growth a year ago.
With 262 planes, IndiGo operated over 1,500 daily flights prior to March 24 but is now operating around 350 scheduled flights a day, which is putting a pressure on its finances.
The aircraft carrier, built at a cost of around Rs 23,000 crore, set sail on Wednesday for the crucial sea trials ahead of its planned induction into the Indian Navy by August next year.
Prime Minister Narendra Modi commissioned India's first indigenously designed and built aircraft carrier INS Vikrant in Kochi on Friday, that put India into a select league of countries with domestic capability to build such large war ships.
The number of ultra rich falls to 2.56 lakh in 2018 from 2.63 lakh. As much as Rs 262 lakh crore of the wealth possessed by the high networth individuals are in the form of financial assets, while the rest are parked in physical assets.
Several countries like the United Kingdom, the United Arab Emirates, Australia and Singapore have already banned travellers from India as well as other South Asian countries.
Gold loan is currently the fastest-growing loan category (among the various types disbursed to individuals). On February 26, 2021, the outstanding loan against gold jewellery stood at Rs 56,596 crore. By February 25, 2022, it had risen to Rs 71,408 crore, a year-on-year growth of 26.2 per cent, according to the Reserve Bank of India's (RBI's) data. Several factors are driving the demand for gold loans.
Less than 50,000 daily new cases are being reported for 70 consecutive days.
India saw a single day rise of 41,383 coronavirus infections taking the total tally of COVID-19 cases to 3,12,57,720, while the active cases registered an increase for the second consecutive day and were recorded at 4,09,394, according to the Union health ministry data.
India captain Shikhar Dhawan was all praise for Prithvi Shaw and Ishan Kishan after an easy victory over Sei Lanka in the first ODI on Sunday.
The government has notified the agreement between Air India and special purpose vehicle AIAHL for the transfer of non-core assets, ahead of the national airline's takeover by the Tata Group. The government had in October last year, inked the share purchase agreement with the Tata Group for the sale of national carrier Air India for Rs 18,000 crore. The Tata Group is expected to take full control of the airline, it founded in 1932, on Thursday. The cash component of the deal would come once the handover process is completed. The Tata Group would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
Rajneesh Gupta lists all the important numbers from day two of the Oval Test.
The branch managers have come out of their glass cabins and the sellers' market has transformed into a buyers' market, but there is no end to the harassment of customers, asserts Tamal Bandyopadhyay.
Shafali Verma has leapfrogged Australia's Beth Mooney with scores of 23 and 47.
That AAP managed a sizeable vote share in Gujarat is creditable. The BJP can no longer ignore AAP's growing presence in its strongest bastion, explains Ramesh Menon, long-time observer of Gujarat politics.
The Delhi high court on Thursday dismissed BJP leader Subramanian Swamy's plea seeking to set aside the Air India divestment process on the allegation that the methodology adopted by the government in the valuation of the national carrier was "arbitrary, illegal and against public interest". The order was passed by a bench of Chief Justice D N Patel and Justice Jyoti Singh. The court said a detailed order will be uploaded. "Dr. Subramanian Swamy, sir we are dismissing this matter...," the bench said.
Merely bringing down the government stake below 51% may not find any taker for the PSBs. The government must bring down its holding to at least 26%, recommends Tamal Bandyopadhyay.
The Maharashtra government on Friday added 2,213 deaths to overall COVID-19 death toll in the state, taking it to 1,06,367, after a 'scrutiny of laboratory reports for COVID-19 determination' and resultant updating of figures.
On Sunday, Kuldeep and Chahal showcased signs of form.
Images from the first One-Day International between India and Sri Lanka, in Colombo, on Sunday.
Delhi done in by poor batting as Karnataka win by 4 wickets
The country's GDP is likely to grow at 1.3 per cent in the fourth quarter of 2020-21 and may see a contraction of around 7.3 per cent for the full financial year, according to an SBI research report 'Ecowrap'. The e-National Statistical Office (NSO) will release the GDP estimates for the March 2021 quarter and provisional annual estimates for the year 2020-21 on May 31. "Based on our 'nowcasting model', the forecasted GDP growth for Q4 would be around 1.3 per cent (with downward bias) as against NSO (National Statistical Office) projection of a negative (-)1 per cent," the research report said.
'I think I have made enough cricketing memories on and off the field to last me a lifetime. For all those who still feel, I should have not retired yet, well...'
Maharashtra, Punjab, Karnataka, Chhattisgarh and Gujarat are reporting a surge in daily COVID-19 cases and the five states together account for 77.44 per cent of the new infections, the Union health ministry said on Wednesday.
Afghanistan will play a lone Test match against West Indies when they host the Caribbean side for a short series in November in their adopted home India, the Afghanistan Cricket Board has said.
