The government will seek Parliament's approval for Rs 37,000-crore additional spending on infrastructure development in the second batch of supplementary demands for grant. Earlier this month, Finance Minister Nirmala Sitharaman had announced additional budget of Rs 25,000 crore as capital expenditure (capex) on roads, defence, water supply, urban development and domestically produced capital equipment. Besides, the central government approved issuance of a special interest-free 50-year loan to states of Rs 12,000 crore for infrastructure development.
As states grapple with a shortage of coronavirus vaccines, the Centre on Thursday said that over two billion doses will be made available in the country in five months between August and December, enough to vaccinate the entire population.
The real estate sector might have been caught off guard by the second wave of the Covid-19 pandemic, but large listed developers like Godrej Properties and Prestige Estates Projects soldier on undeterred. They aim to have sales bookings of Rs 10,000 crore in the next few years.
As per the new COVID-19 restrictions, prohibition has been placed on New Year's celebrations, parties in any closed or open space including restaurants, hotels, bars, pubs, resorts and clubs from December 30 to January 7.
The company's total income stood at Rs 5,821 crore, showing an over six per cent rise, at the end of the September quarter of the current fiscal.
The defence ministry has already shortlisted two Indian shipyards and five foreign defence majors for the project, being billed as one of biggest "Make in India" ventures.
The government has revised its divestment target downwards from Rs 2.1 trillion, as its ambitious privatisation programme has been deferred to next year.
British telecom giant Vodafone Group plc on Friday won an arbitration against the Indian government over a demand for Rs 22,100 crore in taxes using retrospective legislation.
Bajaj Finance was the top loser, tumbling 4.68 per cent, followed by Tech Mahindra, IndusInd Bank, ICICI Bank, SBI, Reliance Industries, Bharti Airtel and HCL Tech. NSE Nifty crashed 290.70 points or 2.43 per cent to 11,680.35.
Six of the top-10 most valued domestic firms added Rs 91,629.38 crore cumulatively in market valuation last week, with ICICI Bank and Tata Consultancy Services clocking maximum gains. During the last week, which was holiday-truncated, the Sensex rallied 929.83 points or 2.10 per cent. The list of gainers had Reliance Industries Ltd (RIL), Tata Consultancy Services (TCS), Hindustan Unilever Ltd (HUL), Infosys, ICICI Bank and Bharti Airtel.
Six of the top 10 most valued Indian firms added a cumulative Rs 86,683.71 crore in market valuation last week, with HDFC twins emerging as the biggest gainers. On the top 10 chart, HDFC Bank, HDFC, ICICI Bank, Kotak Mahindra Bank, Bharti Airtel and HCL Technologies were gainers. While, Reliance Industries Ltd (RIL), Tata Consultancy Services (TCS), Hindustan Unilever Ltd (HUL) and Infosys saw erosion in their market valuation.
Public sector banks, including the country's largest lender State Bank of India (SBI), have come out with a templated approach for restructuring retail and small business loans of up to Rs 25 crore under the Reserve Bank of India's (RBI) Covid restructuring package 2.0. They have also come out with standardised products to make funds available to business entities for improving healthcare infrastructure and to individuals for meeting Covid treatment expenses. Business loans have been divided into three categories.
Addressing the nation for the fourth time since he took office in 2014, the prime minister called upon the citizens to perform their duties towards the nation and co-operate to work towards a common goal of peace, harmony and development in the country.
Overall, Tata Steel becomes the seventh non-financial firm, including four oil PSUs to report quarterly revenues of Rs 50,000 crore.
The draft amalgamation scheme of Punjab and Maharashtra Co-operative (PMC) Bank with Unity Small Finance Bank (SFB) allowed quick relief to depositors with savings of up to Rs 5 lakh, but a long wait for those who had their nest egg with the scam-tainted bank. If the scheme gets approved, 96 per cent (or 880,000 of 924,000) depositors will get their full money straightaway after PMC is merged with Unity SFB. According to the draft scheme, retail investors may get up to Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC) instantly, and then some more in phases till they can recall their full deposits after 10 years.
Move to accelerate investments; Japan to have a share in corpus
The deal, as well as some other strategic and financial investments in works, will help Ambani cut debt at RIL.
The combined market valuation of eight of the top-10 most valued companies zoomed Rs 190,571.55 crore last week, with Bajaj Finance emerging as the biggest gainer, reflecting bullish investor sentiment. While Reliance Industries Ltd (RIL) and Tata Consultancy Services (TCS) witnessed erosion in their market capitalisation, rest of the eight companies including Hindustan Unilever Limited, HDFC, ICICI Bank and Bharti Airtel emerged as gainers. The market valuation of Bajaj Finance jumped Rs 35,878.56 crore to Rs 2,63,538.56 crore, becoming the biggest gainer among the top-10 most valued firms.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
'In FY21, as of October, LIC has booked a profit of Rs 18,800 crore through sale of equities.'
After a month long gap, the primary market is heading for a busy time, with five firms including Paytm parent One97 Communications and policybazaar parent PB Fintech have lined up their IPOs in the first half of November to raise over Rs 27,000 crore collectively. The other three firms whose initial share-sales are set to open are Sapphire Foods India, which operates KFC and Pizza Hut outlets, decorative aesthetics supplier SJS Enterprises and microcrystalline cellulose manufacturer Sigachi Industries. The IPOs of FSN E-Commerce Ventures Ltd, which runs online marketplace for beauty and wellness products Nykaa, and Fino Payments Bank are currently open for public subscription.
The partnership will also see the two parties cooperate on technology initiatives, including development of affordable smartphones.
With this investment, Jio Platforms has raised Rs 115,693.95 crore from some of the leading global investment powerhouses at a time when the world is deeply impacted by the coronavirus pandemic.
From its all-time peak of 38,989.65 scaled on August 29 this year, the Sensex has fallen by 2,921.32 points, or 7.5 per cent, to 36,068.33.
Shaw continued from his unbeaten 240 from overnight and brought up his triple ton.
LIC, EPFO and PSBs are likely to be asked to subscribe to bonds.
Architect-turned-cricketer Varun Chakravarthy, with a base price of Rs 20 lakh, went to Kings XI Punjab for a massive Rs. 8.4 crore, while Rajasthan Royals retained Jaydev Unadkat for the same amount.
This is the second investment by General Atlantic in a subsidiary of Reliance Industries, following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.
The government has also hiked excise duty by 11 percent, which is in addition to the 6 per cent that was announced in the budget, he said.
The Finance Minister said government's target was not villages only but cover every household of every village under the PMJDY.
With this contract, Adani Green now has a portfolio of 15 GW of renewable power generating assets.
Italy's state-controlled AgustaWestland had allegedly kept aside Rs 217 crore as part of "corrupt activity" to bag India's Rs 3,600 crore deal and its choppers became eligible only after certain required parameters were altered in the tender document.
This would provide a major boost to the indigenous design and construction capability of submarines in India.
Star Health and Allied Insurance's Rs 7,250-crore initial public offering (IPO), the third largest this year and eighth largest ever, just about managed to make it despite a poor response from investors, garnering just 79 per cent subscription, forcing the investment bankers to prune offer for sale (OFS) component. This is the second large offering after digital payments major Paytm this year to receive a lukewarm response from investors, a sign that despite the IPO frenzy investors are discerning when it comes to pricing. As Star Health didn't meet the profitability criteria, its IPO required a mandatory 75 per cent subscription from qualified institutional buyers (QIB).
All eyes are on battleground Nandigram that is goin to the polls on Thursday with the chief minister engaged in a fierce contest with her protege-turned-rival Suvendu Adhikari of the BJP.
Senior government officials said the company would be allowed a harmonious exit.
With the Rs 1.45 lakh crore tax dole threatening to upset budgeted numbers, Economic Affairs Secretary Atanu Chakraborty sought to allay concerns saying the government is sticking to the glide path of keeping fiscal deficit at 3.3 per cent of the GDP in the current fiscal.
In the last budget, then finance minister Arun Jaitley had allocated Rs 85,010 crore for the education sector which was later revised to Rs 83,625.86 crore.
Puri earned a salary of Rs 7.39 crore in FY15, up 21.74% from last year
India's 100 top billionaires have seen their fortunes increase by Rs 12,97,822 crore since March last year when the Covid-19 pandemic hit the country and this amount is enough to give 13.8 crore poorest Indians a cheque for Rs 94,045 each.
