The Union Cabinet on Wednesday decided that 10 per cent of the government's stake in Coal India Ltd would be sold. Similarly, the sale of five per cent of its stake in ONGC and 11.4 per cent in the hydropower public-sector unit, NHPC, has been cleared.
At end of week, Infosys had a market valuation of Rs 2,69,489 cr, or Rs 432.68 cr more than HDFC Bank's Rs 2,69,056 cr
"Independence means if government has done something wrong, you say it's wrong. But at the same time, you should have courage when the government is doing the right thing every day. You have to also say that," he Gautam Adani was quoted as saying by FT.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
While TCS, RIL, ONGC, CIL, HDFC Bank, Bharti, HDFC and HUL saw rise in their market capitalisation (m-cap), ITC and Infosys suffered losses.
Richest Indian Gautam Adani-led group's flagship firm on Wednesday filed an offer letter with stock exchanges for a proposed Rs 20,000 crore follow-on public offer (FPO). The FPO of Adani Enterprises Ltd (AEL) is planned to open on January 27 and close on January 31, according to the offer letter. Of the Rs 20,000 crore proceeds of the FPO, Rs 10,869 crore will be used for green hydrogen projects, work at the existing airports and construction of a greenfield expressway.
On skeletons being seen by the Navy team, the sources said the water inside the mines has high Sulphur content which can decompose the bodies very fast.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Around 300 promoters serve their company boards for free.
Faced with rising input costs and increasing competition, Steel Authority of India Ltd has embarked on a Rs 400 crore (Rs 4 billion) cost-reduction exercise in the current fiscal in areas of raw material usage, energy and refractory consumption.
It said the authorities were making all efforts to save the lives of these persons and the Indian Navy and planes and helicopters of the Indian Air Force have been deployed in the rescue operation.
In the context of market integrity, the IRAI and RBI should go over the minutes of the LIC and SBI board meetings when the decisions to invest in Adani equity or debt were taken, notes Jaimini Bhagwati, former World Bank treasury professional.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'Kindly advise about the following stocks. Can I hold or exit?'
The interim free trade agreement between India and Australia will come into force on Thursday, providing duty-free access to thousands of domestic goods such as textiles, and leather in the Australian market. The agreement will help almost double the bilateral commerce to $45-50 billion in around five years, according to exporters and industry players. The Economic Cooperation and Trade Agreement (ECTA), which was signed on April 2, would provide duty-free access to Indian exporters of over 6,000 broad sectors, including textiles, leather, furniture, jewellery and machinery in the Australian market.
Following price hike of Rs 500 per tonne by Steel Authority of India Ltd, other private producers on Monday announced hike in prices of hot rolled coils by the same amount.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
FII stance, progress of monsoon, crude oil and rupee movement are likely to dictate the trend.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The government is expected to defer the mega initial public offering (IPO) of LIC to the next financial year as the ongoing Russia-Ukraine war has dampened fund managers' interest in the public issue, market experts said on Sunday. The government was looking to sell 5 per cent stake in Life Insurance Corporation (LIC) this month, which could have fetched over Rs 60,000 crore to the exchequer. The IPO would have helped meet the curtailed divestment target of Rs 78,000 crore this fiscal.
NDTV founders Prannoy Roy and his wife Radhika Roy on Friday said they will sell all but 5 per cent of their remaining shareholding in the news broadcaster to Adani Group for up to Rs 647.6 crore. Roys, who founded New Delhi Television Ltd (NDTV) as India's first and largest private producer of news current affairs and entertainment television, lost their status of being the company's largest shareholder in recent weeks. This follows Adani Group becoming the majority shareholding of NDTV after first buying out a company backed by the founders and then acquiring more shares from the open market.
The IL&FS deal marks a sharp turnaround from last year when investor interest in public works plummeted.
TCS, Bajaj Auto, Adani Ports and Cipla were the top gainers on BSE Sensex while Coal India, GAIL, Dr Reddy's and Infosys lost the most on the index.
Reflecting the bullish mood, all sectoral indices ended with gains, led by auto, oil and gas, FMCG, IT and teck. The broader NSE Nifty, after crossing the 10,600-mark, settled 68.40 points, or 0.67 per cent higher at 10,598.40.
Petrol and diesel price hikes are likely to resume after state elections get over next week to bridge the Rs 9 a litre gap created by international oil prices soaring past $100 a barrel. International crude oil prices shot above $110 a barrel for the first time since mid-2014 on fears that oil and gas supplies from energy giant Russia could be disrupted, either by the conflict in Ukraine or retaliatory western sanctions. The basket of crude oil India buys rose above $102 per barrel on March 1, the highest since August 2014, according to information from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry.
If the fear of ED could drive the powerful people of today to be honest or at least be minimally corrupt, will it not be a great thing for our nation?, asks Sudhir Bisht.
'I clearly recall how you immediately directed your administration to identify and allocate land, water, and other clearances in the shortest time possible.' 'That was the fastest decision-making process I have ever witnessed.'
India's steel imports from China, the world's biggest producer of the alloy, doubled in April-September from a year ago though the country has enough capacity to meet its demand.
Coal-based generators plan upgrades, clean tech over 5 years.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Its market capitalisation tops those of the 3 largest Indian firms combined
The IOC stake sale will, however, dwarf in front of Rs 22,557 crore or Rs 225.57 billion that the government raised through a stake sale in Coal India Ltd last year.
The BSE Sensex was down 326 points at 23,277 and the Nifty was down 107 points at 7,056.
Rules for mining, roads, power and irrigation projects relaxed.
If nothing is done, the country is set to become 83 per cent energy-import-dependent by 2040.
Coal requirement for the plant would be met through Coal India.
In 10 sessions Sensex rose over 8%
The BSE 30-share index after a positive opening stretched to 31,772.41, but could not stay there for long buffeted by the selling pressure. It hit a low of 31,562.25 before settling lower by 79.68 points, or 0.25 per cent, at 31,592.03.
