By the end of March 2022, only 2,140 million pieces of Rs 2,000 denomination currency notes were in circulation, or 13.8 per cent of the total value of notes.
PowerGrid was the top laggard in the Sensex pack, shedding over 2 per cent, followed by HCL Tech, ONGC, M&M, Axis Bank, TCS, Reliance Industries and Infosys. On the other hand, Asian Paints, Titan, Tata Steel, Bajaj Finance and Bajaj Auto were among the gainers.
IndusInd Bank was the top laggard in the Sensex pack, falling over 5 per cent, followed by HDFC, Axis Bank, PowerGrid, SBI, Bajaj Finserv and Bharti Airtel.
A day after saying that there would have been no partition if Muhammad Ali Jinnah was made the first prime minister of the country, Suheldev Bharatiya Samaj Party (SBSP) chief Om Prakash Rajbhar blamed the RSS on Thursday for the historic event.
The broader NSE Nifty soared 133.10 points, or 1.22 per cent, to end at 11,573.30.
"The RSS runs nearly 60,000 daily shakhas (branches) across the country and 97.5 per cent shakhas have started functioning again after the easing of COVID-19 related restrictions," joint general secretary Manmohan Vaidya said.
From the 30-share pack, Indusind Bank, Axis Bank, Maruti Suzuki, Bajaj Finance, Bajaj Finserv, UltraTech Cement and Mahindra & Mahindra were the biggest drags, tumbling up to 7.63 per cent.
Asian Paints, HUL, TCS, Tech Mahindra, Reliance Industries, UltraTech Cement were among the top laggards in the Sensex pack.
Smart city projects to be launched in June, other housing schemes to follow.
All the global transitions are working in India's favour, giving it the potential to become a force in today's uncertain world, but one of the country's biggest challenges is inclusive growth, Tata Sons chairman N Chandrasekaran said on Monday. In his address at the JRD Tata Oration, the head of the Tata group also asserted that Artificial Intelligence (AI) is here to stay and it will be beneficial if India prepares for it. Post the cold war era of relative stability and prosperity, the world appears to have given way to unpredictable conflicts and economic uncertainty, he said, adding that the pandemic resulted in supply chain shocks of gigantic proportion.
M&M was the top laggard in the Sensex pack, cracking over 7 per cent, after the home-grown auto major on Saturday reported 73 per cent decline in consolidated quarterly net profit.
Here's a recap of the events from the past 24 hours.
IndusInd Bank was the top loser in the Sensex pack, shedding over 3 per cent, followed by HDFC, ICICI Bank, Tech Mahindra, Bajaj Finance, UltraTech Cement and Tata Steel. On the other hand, Bharti Airtel was the top gainer, rallying more than 4 per cent.
The National Stock Exchange (NSE) of India is going to indefinitely defer the internal deadline set for extending trading hours, according to sources in the know. The exchange aimed to introduce a three-hour evening session exclusively for index derivatives by March 2024, contingent upon regulatory clearance from the Securities and Exchange Board of India (Sebi). Sources indicate that the market regulator has not provided a favourable indication, dimming optimism surrounding the proposal.
The 30-share bluechip index is rebalanced on a semi-annual basis with next rejig slated for June 18.
Of all the things that went right in the Test series opener against New Zealand, Cheteshwar Pujara's transformation from an obdurate accumulator of runs to a free-scoring batsman when needed must be the most pleasing for India captain Virat Kohli.
M&M was the top gainer in the Sensex pack, rising around 5 per cent, followed by Kotak Bank, Bajaj Finance, Nestle India, SBI, ICICI Bank, HDFC Bank and ONGC. On the other hand, NTPC, IndusInd Bank, Bharti Airtel and Maruti were among the laggards.
Severe skilled, unskilled shortage threatens to pull emergency brakes on India's industrial engine.
The Bombay high court on Tuesday directed the Central Bureau of Investigation to file by Friday its affidavit in response to a petition of Videocon Group founder Venugopal Dhoot, seeking to quash an FIR registered in a bank loan fraud case, to declare his arrest as "arbitrary and illegal" and to be released on bail. When the plea came up for hearing, advocate Kuldeep Patil asked for one-week time to seek instructions on the same. A division bench of Justices Revati Mohite Dere and P K Chavan said the agency shall file its affidavit by Friday and posted the petition for hearing the same day (January 13).
The United States has reported the most deaths -- more than 2,05,000 -- followed by Brazil, India, Mexico and the United Kingdom.
Shares of real estate firms have been outperforming over the past year. The rally, analysts say, may hit roadblocks in the near term amid stretched valuations, even as the long-term prospects for the sector remain ebullient. "Most of the positive news flow is already in the price. Hence, investors sitting on hefty profits may partially cash out at current levels," suggests V K Vijayakumar, chief investment strategist at Geojit Financial Services.
The Reserve Bank's rate setting panel on Thursday met to finalise a report for the government on why it failed to keep retail inflation below the target of 6 per cent for three consecutive quarters since January this year, said sources. The report will be presented to the government as per the Reserve Bank of India Act, they added. The six-member Monetary Policy Committee (MPC) is headed by Governor Shaktikanta Das.
The apex court also took note of a plea of the victim's father seeking transfer of the trial of the case from Kathua, preferably to Chandigarh and sought response of the state government.
The rate of price rise in the protein rich items like eggs, milk and other products too moderated in March as against the previous month.
The number of active coronavirus cases in the country has surpassed the 16-lakh mark, the ministry's data updated at 8 am showed.
The Supreme Court on Wednesday agreed to hear on March 3 an appeal of the Tamil Nadu government against the Madras high court order permitting the Rashtriya Swayamsevak Sangh (RSS) to take out a march in the state.
Looking to regain lost ground in the credit cards segment, HDFC Bank on Monday announced a tie-up with leading payments company Paytm to start selling co-branded plastics before the onset of the festive season. The credit cards will be powered by Visa and will include offerings targeted at millennials, business owners and merchants, an official statement said. Paytm has a reach of over 330 million consumers and 21 million merchants, while HDFC Bank has over 5 million debit, credit and prepaid cards, and serves 2 million merchants through its offerings.
No let-up in selling by foreign investors amid profit-booking at higher levels.
Bharti Airtel was the top loser in the Sensex pack, falling over 3 per cent, followed by Bajaj Finance, PowerGrid, SBI, HDFC Bank and Sun Pharma. HCL Tech was the top gainer, rallying around 10 per cent. TCS, Infosys, Tech Mahindra and Titan too ended with up to 5 per cent gains.
Tata Group chief N Chandrasekaran on Thursday reached out to employees of Air India asking them to work together to build the airline that the country needs, while asserting that the "golden age" of the carrier lies ahead. In a welcome letter to the employees of Air India, after the Tata Group took over the management and control of the airline, Chandrasekaran, chairman of Tata Sons, reflected on the airline's "brilliant past" but said the entire nation is now waiting to see what "we will achieve together". "From the day of the announcement (of Tatas winning the bid), one word has been on everyone's lips: Homecoming.
Cricket icon Mahendra Singh Dhoni and industrialist Anand Mahindra were on Thursday named in a 15-member panel constituted by the defence ministry to carry out a comprehensive review of the National Cadet Corps (NCC) in order to make it more relevant.
Debt management is going to be a worry for the Vedanta group until FY25 at least. However, the restructuring of business divisions in Vedanta India could lead to an unlocking of values. The group structure is fairly complex. Anil Agarwal-led Vedanta Resources (VRL), which is London-listed, has a lot of debt on the balance sheet. It will have to repay $1 billion in secured bonds by January 2024 and at least another $300 million in calendar 2024.
The transition to UPI-based ATMs will be gradual, and consumers will not immediately switch to using standalone UPI ATMs overnight.
A Delhi court on Thursday dismissed the bail application of former Mumbai Police Commissioner Sanjay Pandey in a money laundering case related to alleged illegal phone tapping and snooping of national stock exchange (NSE) employees. Special Judge Sunena Sharma said the material available prima face showed Pandey was actively involved in the execution of recording and monitoring of calls at the NSE, and was directly communicating with the bourse staff as well as those of the iSec, the company he founded and which was responsible for the cyber security audit of the NSE. The judge noted the material collected by the investigating officer "prima face" showed the retired IPS officer was in de facto control of the affairs of iSec even after 2006, when he resigned as a director, and kept attending the meetings with NSE officials.
A Delhi court has come down heavily on the police for its 'lackadaisical attitude' in probing the 2020 riots cases and asked the Police Commissioner to take appropriate action ensuring proper, expeditious investigation into them.
Once such a notice is issued against a fugitive, the Interpol asks its 192-member countries to arrest or detain the person if spotted in their countries after which extradition or deportation proceedings can begin.
Thanks to a big payout by the group's cash cow, Tata Consultancy Services (TCS), Tata Sons is set to earn a record-high equity dividend worth nearly Rs 33,350 crore from the group's listed companies for FY23, up 130 per cent from Rs 14,529 crore in FY22. Nearly 90 per cent of this, or around Rs 30,500 crore, is estimated to accrue to Tata Sons while the rest will show up in its profit & loss account for FY24. This is because nearly 80 per cent of the dividend payout by TCS for FY23 was done before the end of the financial year through three quarterly interim instalments and a special one in January this year.
However, total income of the bank on a consolidated basis rose to 31,914.82 crore as against Rs 30,190.54 crore a year ago.
However, the tribunal directed the bourse to deposit Rs 625 crore with Sebi in two weeks.
TCS was the top loser in the Sensex pack, falling over 3 per cent, followed by Titan, ICICI Bank, SBI, ITC and Bharti Airtel. On the other hand, Sun Pharma, NTPC, IndusInd Bank and Bajaj Finance were among the top gainers.
