Equity benchmark Sensex on Thursday plunged about 965 points to crash below the 80,000 level due to heavy selling in global equities after the US Federal Reserve signalled fewer rate cuts next year. Besides, deep losses in consumer durables, banking and IT stocks amid foreign fund outflows added to the gloom, analysts said.
The RBI rejection is a second blow to BoB - the lead bank of both companies -- after a Delhi high court order on August 18 stayed a move by BoB and the entire consortium of lenders to classify these accounts as fraud, restraining them from taking any other coercive action till the next hearing.
As quick commerce gains ground, emerging direct-to-consumer (D2C) brands are betting big on digital channels to drive growth. According to Aman Gupta, co-founder of wearables brand BoAt, new-age brands in India have been expanding at a much faster pace than expected, driven by digital channels like quick-commerce. "Investors doubted the potential of D2C brands when we started, but today there are multiple brands in the startup market that are growing on the shoulders of these digital channels," Gupta said while addressing a session at Razorpay's D2C and Retail Summit recently.
Dubai-based billionaire BR Shetty has sued Bank of Baroda (BoB) and audit firm Ernst & Young (EY) in a New York court, accusing them of ignoring fictitious and fraudulent transactions that resulted in NMC Healthcare going bankrupt. Shetty is seeking $8 billion in damages in the suit that also names the top management of NMC Healthcare, and Netherlands-based Credit Europe Bank. A top NMC Healthcare official confirmed the development to Business Standard and said despite several meetings, senior BoB officials in India did not take remedial steps for fear of getting involved in an international ponzi scheme perpetrated by then senior management officials.
Disgraced Chinese leader Bo Xilai's high-profile trial was abruptly adjourned after prosecutors produced more evidence to nail the former Communist strongman, who in turn described his ex-police chief and a key witness as a "liar with extremely bad character."
Nadaaniyan's lack of charm, chemistry and cheek fails to create any ripples sighs Sukanya Verma.
Coach Branko Ivankovic insisted China's World Cup qualifying campaign was still alive despite back-to-back losses to Saudi Arabia and Australia over the last five days leaving them bottom of Asian qualifying Group C.
The US Fed interest rate decision, ongoing quarterly earnings, macroeconomic data and FII trading activity are the major triggers that will drive stock markets this week, analysts said. Investors would also track global market trends and the movement in global oil prices for further cues. "This week, the focus will shift to global cues, particularly the US markets," Santosh Meena, Head of Research, Swastika Investmart Ltd said.
In its judgment delivered at a packed room, the court sentenced Bo to life in prison on the bribery charges, 15 years for embezzlement and seven years for abuse of power
Lenders of bankrupt airline Jet Airways, led by the State Bank of India (SBI), on Thursday told the Supreme Court that successful bidder Jalan Kalrock Consortium (JKC) was "unwilling" to pay the dues and that the "liquidation" was the only option left. The bench led by Chief Justice of India (CJI) DY Chandrachud was hearing the SBI-led consortium plea against the NCLAT's March order upholding ownership transfer of the bankrupt airline to JKC.
China on Saturday launched a criminal investigation into disgraced Communist Party leader Bo Xilai's alleged offences, a day after he was stripped of his legal immunity and expelled from the country's Parliament.
Chinese lawmakers on Friday expelled disgraced leader Bo Xilai from the parliament, completing his extirpation from politics and stripping him of immunity from prosecution for a series of corruption charges.
Chinese Communist Party leader, Bo Xilai who was expelled from the party on Friday to face trial on a host of charges including sex, sleaze and corruption has also been removed from the membership of China's legislature, National People's Congress.
Satwiksairaj Rankireddy and Chirag Shetty have regained their top spot following their Thailand Open title triumph on Sunday.
The November 5 US presidential elections, Federal Reserve interest rate decision, trading activity of foreign investors, and the upcoming quarterly earnings from domestic firms are the major triggers that would influence sentiments in the equity market this week, analysts said. In an eventful week ahead, a host of macroeconomic data announcements and global trends would also drive the markets, experts said. "The upcoming week is poised to be eventful on the global front.
He was once tipped to be one of China's NextGen leaders, someone who would guide the Middle Kingdom's future for the next decade, once the present leadership retired. In a dramatic saga, unparalleled in contemporary China, Bo Xilai suddenly fell from grace these past weeks, his wife now accused of murder. Nikhil Lakshman, who met Bo a few times, recounts those encounters with a Chinese politician like none other.
While 2023 saw many mega blockbusters (Pathaan, Gadar 2, Jawan and Animal), this year had only two.
While liquidity in the banking system has turned surplus in the last few weeks, it could go back to deficit again, mainly due to corporate advance tax outflows. The net liquidity surplus of the banking system rose to touch Rs 1 trillion on Tuesday on the back of government spending, according to the data released by the Reserve Bank of India.
Communist China's biggest political trial in decades involving disgraced top politician Bo Xilai ended on Monday on an acrimonious note, with prosecutors demanding "severe" punishment for the defiant pro-Maoist leader who accused a key official witness of having illicit relations with his wife.
Japan's march to the 2026 World Cup continued on Tuesday as Hajime Moriyasu's side handed China a 3-1 defeat in Xiamen while Iran eked out a late 3-2 win over Kyrgyzstan and South Korea were held to a 1-1 draw by Palestine.
A Chinese high court on Friday rejected the appeal of disgraced Communist Party leader Bo Xilai and upheld his life sentence for bribery, embezzlement and abuse of power in the country's biggest political scandal.
The country's current account deficit widened marginally to $9.7 billion or 1.1 per cent of GDP in April-June 2024, as against $8.9 billion or 1 per cent in the year-ago period, Reserve Bank of India said on Monday. The crucial number representing the country's external sector strength has come on the heels of a surplus of $4.6 billion or 0.5 per cent of GDP recorded in the preceding January-March quarter. The Reserve Bank attributed the year-on-year widening in current account deficit to a rise in merchandise trade gap which was recorded at $65.1 billion in Q1 FY25 as compared to $56.7 billion in the year-ago period.
Investors attribute the revival to the country's strong public markets, which are boosting confidence in initial public offering (IPO)-bound startups offering viable exit opportunities.
Disgraced Chinese leader Bo Xilai on Saturday said he had not acted to stop the embezzlement of government funds by his wife, the first time he has admitted to any of the charges against him since his trial began two days ago.
Among the 30 Sensex firms, Adani Ports and Power Grid climbed over 3 per cent each. Tata Steel, JSW Steel, Infosys, Mahindra & Mahindra, Maruti, and Larsen & Toubro were the other big gainers. IndusInd Bank, Bharti Airtel, Hindustan Unilever, Tech Mahindra and Titan were the laggards.
Enforcement Directorate is jointly probing the case.
Stock markets would take cues from the biggest event of the week -- the US Fed interest rate decision, besides tracking the trends in global markets and trading activity of foreign investors, analysts said. Last week, a heavy decline in smallcap, midcap firms, foreign fund outflows and elevated crude oil prices in the international market dented investors' sentiments. Experts said equity markets may remain volatile in the near-term amid a host of global central bank's monetary policy decisions lined up during the week.
The meeting to approve the merger of Udaipur-based BoR with the country's largest private sector lender ICICI Bank got off to a chaotic start.
From the Sensex pack, Tata Motors, NTPC, Bajaj Finserv, Power Grid Corp, Titan, Asian Paints, IndusInd Bank, Maruti Suzuki India and Tata Steel were among the biggest gainers. Sun Pharmaceuticals, ITC, Hindustan Unilever, Bharti Airtel, UltraTech Cement and Reliance Industries were among the laggards.
As quick-commerce players find their foothold among consumers, brands are all set to step up their presence on these platforms.
Disgraced Chinese politician Bo Xilai's wife and a helper working in their home have been charged with poisoning a British businessman to death, a case that triggered the downfall of the ruling Communist Party of China's powerful leader and rocked the country's politics.
'In the audience's mind there is no urgency to go see a film in the theatre.' 'If you pay for social media buzz it does not convert into bums on seats.'
Disgraced former Communist Party leader Bo Xilai was Thursday charged with bribery, embezzlement and abuse of power by prosecutors in China's eastern Shandong Province.
Yet another week of Hollywood movies doing very well at the Indian box office.
A Chinese state run newspaper on Sunday dismissed a United States media report alleging that the sacked Communist Party leader Bo Xilai wire-tapped President Hu Jintao as a tabloid tidbit, fabricated from dinner table gossip."
Kamalesh Chandra Chakrabarty has joined Punjab National Bank as its executive director and K Ramakrishnan has taken over as executive director of Bank of Baroda.
Among the Sensex stocks, JSW Steel, Asian Paints, Maruti Suzuki India, NTPC, Adani Ports and Special Economic Zone, Bharti Airtel, ITC and Tech Mahindra were the major gainers. Reliance Industries, Tata Motors, Infosys, Mahindra and Mahindra, Bajaj Finance and Axis Bank were the laggards.
The US Federal Reserve's interest rate decision is the biggest event that would drive sentiments in the domestic stock market this week, besides a host of macroeconomic data from the global front and trading activity of foreign investors, analysts said. The Indian equity market had an exceptional last week, with both the Nifty and Sensex hitting their all-time high levels on Thursday.
Bank of Baroda is likely to merge its housing finance arm with itself in view of duplicating loan portfolio and increased cost of deposits and the need to maintain separate capital adequacy for BoB Housing Finance.
The recently released RBI First Quarter Review of Monetary Policy 2009-10 and the accompanying 'Macroeconomic and Monetary Developments First quarter review 2009-10 have indicated that on the basis of Balance of Payments (BoP) the export growth for 08-09 has declined by over 22% to 5.4% and also the import growth has declined by over 21% during the same period.
