Bajaj Finserv was the biggest loser among the Sensex constituents, sliding 3.81 per cent, followed by Bajaj Finance, Tata Steel, Reliance Industries, HCL Tech, SBI, Larsen & Toubro and Mahindra & Mahindra, Axis Bank and Titan. On the other hand, Kotak Mahindra Bank, Infosys, Tech Mahindra, Power Grid, Asian Paints and Wipro were the gainers.
Amidst the storm over CAG report on coal block allocation, the Prime Minister's Office has expressed displeasure over inaction by the Coal Ministry in cancelling blocks where mining has not taken place and asked it to expedite the matter by September 6.
The Ambani brothers are not yet ready to bury the hatchet. Legal counsels of both the parties say they are ready to fight it out in the court next week. The case is scheduled to come up for hearing on 12 January.
Delhi Chief Minister Arvind Kejriwal on Sunday accused senior bureaucrat Shakuntala Gamlin, who was appointed as the acting Delhi chief secretary by the Lt Governor, of favouring power companies and claimed that she wanted to trick the government into signing documents which would give Rs 11,000 crore to these firms.
Clashing over Reliance Industries's gas field cost, an Anil Ambani group firm on Wednesday questioned the credibility of audits commissioned by the Directorate General of Hydrocarbon, evoking sharp protest from the regulator.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
This State-corporate 'cooperation' didn't begin with the arrival of the Modi government.
Many of the big licences, contracts, and even environmental clearances for the Adani group had come in the UPA's time, points out Shekhar Gupta.
They are cheaper to build, costing around Rs 10 lakh each as against Rs 20-25 lakh for a traditional ground-based tower and even less than the Rs 12-15 lakh needed for a tower mounted on a roof top.
Investors in many Indian companies would have a sense of deja vu after Facebook's public issue turned into a Wall Street debacle. For, over the past five years, Indian markets have been witness to many such breathlessly hyped Initial Public Offers (IPOs) which crashed in an equally spectacular way on the listing day and never recovered.
With the government making a distinction between the privately-run Reliance Natural Resources Ltd and the government-run NTPC Ltd in relation with the gas dispute with Reliance Industries Ltd, the ministry of power is likely to take up NTPC's case with the Empowered Group of Ministers.
The government is likely to drop GAIL as the monopoly builder of trunk gas pipelines in the country and as part of opening up the sector, might allow Reliance Industries to lay a line from Andhra Pradesh to Gujarat.
Stock market investors became poorer by Rs 8.30 lakh crore as equities continued their slide for the sixth consecutive day on Friday. The BSE Sensex has tumbled 1,855.58 points or 3 per cent since February 16. During this period, the combined market capitalisation of BSE-listed firms has tanked Rs 8,30,322.61 crore to reach Rs 2,60,00,662.99 crore. "The domestic market is broadly demonstrating a lack of confidence, registering its sixth consecutive day of losses despite global markets turning green.
With Chinese companies Huawei and ZTE excluded from participating in the 5G roll out, their absence leaves a vacuum in the market which will have to be filled by three vendors: Ericsson, Nokia and Samsung.
Bid date for Allahabad project postponed on fears of higher tariff quotes.
The Indian Navy on Monday unveiled a 15-year plan to boost maritime infrastructure even as Chief of Naval Staff Admiral R Hari Kumar said the force is working with the Army and the IAF to ensure tri-services jointness and integration to meet future challenges.
Benchmark equity indices Sensex and Nifty rallied for a third day in a row on Wednesday on buying in Reliance Industries, Infosys, HDFC twins and ICICI Bank following gains in global equities amid hopes of a breakthrough in Russia-Ukraine peace talks. The 30-share BSE barometer index surged 740.34 points or 1.28 per cent to settle at 58,683.99. During the day, it jumped 784.13 points or 1.35 per cent to 58,727.78. Similarly, the broader NSE Nifty climbed 172.95 points or 1 per cent to settle at 17,498.25. Among the 30-share pack, Bajaj Finserv, Mahindra & Mahindra, Bajaj Finance, Power Grid, HDFC, ICICI Bank, Nestle, Maruti, Reliance Industries Limited were among the lead gainers. On the other hand, ITC, Tata Steel, Tech Mahindra, Bharti Airtel and Titan were among the laggards.
Market benchmarks fell for third day running on Monday and ended nearly 1 per cent lower amid weak trend in global equities. The 30-share BSE Sensex declined 518.64 points or 0.84 per cent to settle at 61,144.84. During the day, it tumbled 604.15 points or 0.97 per cent to 61,059.33.
Reliance ADA group is also planning to develop the railway infrastructure for transporting coal.
All India Congress Committee General Secretary Sanjay Nirupam on Saturday threatened to immolate himself if his demand for reduction in power tariff in Mumbai was not accepted.
Northern and western states had the highest power demand, with Uttar Pradesh sourcing 19,082 Mw, Delhi 6,029 Mw, Rajasthan 10,395 Mw, Gujarat 16,825 Mw, and Maharashtra 23,609 Mw.
Food delivery company Zomato's Rs 9,375-crore initial public offering (IPO) will open for subscription on July 14, said investment banking sources on Wednesday. The company initially was looking to raise Rs 7,500 crore through the offering. Investment banking sources said the issue size has been increased because of the robust demand from investors.
The Anil Dhirubhai Ambani Group, which is raising Rs 11,700 crore through the public offer of Reliance Power, has seen a value erosion of Rs 48,000 crore in the last seven days.
The Singapore government-controlled Temasek Holdings, which controls over 90 per cent of power generation and distribution in Singapore, will soon call for bids to privatise the two companies. The Indian companies are exploring various options to bid for these assets, said sources familar with the developments. Spokespersons of both Reliance Power and GMR Infrastructure declined to comment.
Easily the biggest high-power gathering and by far the starriest event staged in Gujarat, concluded at the Reliance petro township in Jamnagar on Sunday.
The top court also dealt in detail with the legal principle on dying declaration and its trustworthiness on the presumption that a person on death bead does not lie.
If you exclusively look at business personalities, Ambani ranks 20 and Mittal ranks 28.
The seven listed companies of the Anil Ambani Group, led by Reliance Power and RCom, made their investors wealthier by Rs 16,969 crore.
He said unwarranted rumour-mongering, speculation, and bear hammering of all Reliance Group companies shares over the last few weeks had caused grave damage to all our stakeholders.
Equity benchmark indices ended on a flat note on Monday, with the BSE Sensex falling nearly 34 points, recording its second day of decline after an eight-day rally. In a volatile trade, the 30-share BSE benchmark dipped 33.9 points or 0.05 per cent to settle at 62,834.60. During the day, it fell 360.62 points or 0.57 per cent to 62,507.88.
The 103-km line was commissioned three months after commissioning of the first line.
Ajit Mishra, vice president, research, Religare Broking, answers your stock market queries.
Torrent Power (up 19.25 per cent) and GVK Power and Infrastructure (up 12.22 per cent) have seen a dramatic rise in the run up to PGCIL issue.
Coming down heavily on aviation safety violations, DGCA on Saturday grounded a business jet owned by Reliance Industries for carrying expired safety equipment on board and suspended its pilot for flying without a licence.
Power Finance Corporation, the nodal agency for ultra mega power projects, has extended the last date for accepting bids for Krishnapatnam project to October 24, sources said. Essar Power, Sterlite Industries, Larsen and Toubro, D S Construction, Japan's Sumitomo Corp and CLP-GMR combine are other companies believed to be in the qualified bidders list.
'If the government starts playing favourites, if the government acts in a manner which is not transparent, then natural resources which belong to not just you and me, but future generations, they fritter away. The anger against corruption, the anger against India's natural resources being looted is a consequence of the fact that within society there is a huge amount of turmoil and discontentment. Why should an Empowered Group Of Ministers or the Cabinet Committee on Economic Affairs decide the administered price of gas?' asks Paranjoy Guha Thakurta in this exclusive interview with Rediff.com's Sheela Bhatt.
The two troubled subsidiaries of Reliance Capital have over Rs 20,000 crore debt of both the companies. Reliance Home Finance has a debt of Rs 11,500 crore and Reliance Commercial Finance owes Rs 9,000 crore to lenders.
The new Pakistan Nuclear Power Complex (PNPC), to be set up in Faisalabad, will also enrich the fuel from atomic reactors that the country plans to set up by 2030 to generate 8,800 MW of nuclear power.
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