The 30-share Sensex ended down 604 points at 28,845 and the 50-share Nifty ended down 181 points at 8,757. The Bank Nifty ended down 602 points at 19,146.
Jaitley sets condition of 50% assets for applicability of capital gain tax.
The shops became a subject of a political controversy last week.
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In most developed markets, there are reporting agencies for spot markets and generally deals took place on the over-the-counter market.
The pint-sized i-Road has two front wheels that move up and down independently of each other.
The BSE Sensex was down 326 points at 23,277 and the Nifty was down 107 points at 7,056.
Analysts say it is a case of over-promise and under-delivery.
ITC is one of those few enterprises in the world that has traversed a 100 year journey and has yet managed to remain contemporary, relevant and competitive.
Nifty snaps 10-day winning streak
The 30-share Sensex closed up 34 points at 27,831 and the 50-share Nifty ended up 15 points at 8,356.
The Ambani brothers, Mukesh and Anil, came together on Thursday to raise the issue of stalled projects plaguing India Inc and implored the Maharashtra government and the Centre to make Mumbai, India's financial capital, an easier place for business and investments. "Several projects are stuck for many years in Mumbai and we would like to know how the government intends to improve the financing and execution of projects, including those relating to infrastructure and education which have been in limbo for long and are affecting the growth of the city," Reliance Industries Ltd (RIL) Chairman Mukesh Ambani told Finance Minister Arun Jaitley. Seated on the same table was his brother, apart from Tata Group Chairman Cyrus Mistry and State Bank of India (SBI) Chairman Arundhati Bhattacharya. Jaitley was addressing the Mumbai Next MMR Transformation conclave, organised by the Maharashtra government and Mumbai First here, through video conference. In his reply, Jaitley said the government was exploring several options of infrastructure financing in India and that a number of international bodies were ready to fund infrastructure development projects. He added the government was keenly considering these funding sources. While praising Maharashtra Chief Minister Devendra Fadnavis for honesty, Jaitley also had a word of advice. Apart from being honest, the government had to be decisive, he said. On his part, Reliance Group Chairman Anil Ambani told the chief minister about his experience of decisions being delayed due to an indecisive bureaucracy and the need to protect officials who wanted to take quick decisions. "Through the past many years, we have faced a number of obstacles in decision-making," he said, adding he was speaking as someone who had lived and invested in Mumbai. Fadnavis responded by saying he would bring about a transparent process to ring-fence officials. Both the Ambani brothers have announced a number of infrastructure projects in and around Mumbai, including a world-class convention centre in Bandra Kurla Complex by RIL, but very few have actually fructified. RIL's special economic zone project failed to take off due to land acquisition problems in Raigarh, while a second SEZ near Mumbai is stuck due to lack of clarity in SEZ norms. The first phase of the Mumbai Metro, set up by Anil Ambani's Reliance Infrastructure, was marred by cost overruns and run-ins with the government over fares. Subsequently, the company withdrew from the second and larger phase, citing inordinate delay. Anil Ambani also withdrew from Mumbai's sea link project on the same grounds. The brothers had also bid for a trans-harbour sea link between Navi Mumbai and Mumbai under the Congress-Nationalist Congress Party government, but their bid was rejected. Reliance Infrastructure is also the power supplier to more than half of this city. Participating in the conclave, some of India Inc's leading bankers said making Mumbai a financial hub would take at least a decade. SBI's Bhattacharya said the Indian currency should be made fully convertible and facilities should be created for it. "However, for this, the economy needs to look up and that will happen only in the next 7-10 years, not immediately," she added. Sunil Kaushal, Chief Executive Officer of Standard Chartered, India, pitched for strong infrastructure to support development. "We will take a long time to develop into a global financial centre. We need to solve transport bottlenecks in Mumbai and have lifestyle facilities for people working in and around these areas," he said.
Defence Minister Manohar Parrikar has voiced his concern at Dassault's reported reluctance to meet the terms of the IAF tender, which required the French company to guarantee the 108 fighters that HAL would build in India, after the first 18 were supplied fully-built in France.
The regulator is unhappy with the exchange in the market crash case that occurred in 2012.
Although the RBI is not statutorily independent from the government, Rajan, like previous RBI Governors, has long valued his independence.
Rupee is seen to remain in the range of 67.50-68.80 in the short-term
India's biggest jewellers' association has asked members to stop selling gold bars and coins.
The technology offers better picture quality than LCD, with crisper picture resolution, faster response times and high-contrast images.
Eleven companies, which owe the bank Rs 843 crore, are untraceable.
Move aimed at avoiding crowding of public issues during the Centre's mega disinvestments in coming months.
Short-term gains are always unpredictable.
RIL's standalone net profit rose one per cent quarter-on-quarter
The BSE Midcap ended up 0.5% while the Smallcap index ended nearly 1% higher
Domestic and foreign companies pour in a slew of investments in Gujarat.
'Will people who buy iPhones stop buying iPhones to help swadeshi models?' 'There should be some advantage for the consumer to make them buy a Made in India product.' 'Patriotism and nationalism are good words, but in business, it won't work.'
Indian oil and gas exploration companies work in silos.
Shekhar Chakravarty has developed and patented Curvo -- world's first non-linear ropeway system.
Experts tell Ujjval Jauhari that investors need to be careful in picking stocks given high valuations and with markets possibly ignoring potential risks
Nifty has a virtual monopoly in the index derivatives segment.
Bengaluru dominates Karnataka's economy and its infrastructure mess compounds the problems, with policies lagging need and expectations.
Disclose foreign assets, redesignate NRO a/c and open a Resident Foreign Currency a/c to park forex earnings
Wooing overseas investors, government on Wednesday decided against challenging the Bombay High Court decision favouring Vodafone in the Rs 3,200 crore (Rs 32 billion) tax case and adopt a similar approach in transfer pricing litigations involving other MNCs like Shell.
These entities have facilitated illicit transactions worth thousands of crores of rupees over the past 2-3 years
Despite the recent Western criticism on Bangladesh's labour standards, India has a long way to go before it overtakes the neighbour in global exports.
India has made a good beginning in the area of satellite navigation but still there is a long way to go.
If you are not happy with the price offered at buybacks, you could be in for a long haul.
Compared to their Indian peers, MNCs have higher return ratios.
Prime Minister Narendra Modi's three-day visit to Britain has seen India and the UK agreeing on Rs 90,000 crore deals.
Indian investments in equity and debt account for the second-highest remittances outgo (about a quarter).
Despite crude comfort, heavy spending cuts needed to offset Rs 80k-cr revenue shortfall
HCL's president & CEO Anant Gupta talked to Business Standard about the demand environment, its in the European market and Roshni Nadar's induction into the company's board of directors.
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