A special Prevention of Money Laundering Act court has issued orders for attachment of properties worth Rs 143.74 crore of YSR Congress party chief Jagan Mohan Reddy and his associates in a disproportionate assets case being probed by the Enforcement Directorate.
The S&P BSE Sensex shed 42 points to close at 25,838 and the Nifty50 lost 13 points to end at 7,899.
The wider NSE Nifty touched a low of 10,652.40 before finishing at 10,671.40, showing a loss of 97.75 points, or 0.91 per cent.
A combination of one of the lowest labour costs and a large surplus workforce, which will continue to grow until 2031, is one of the key competitive edges that India is leveraging to challenge its rivals in Southeast Asia in the race for a China-Plus-One strategy. Apart from India, the countries in the race to woo global companies that manufacture in China, as well as the supply chains to their country include Thailand, Indonesia, Malaysia, the Philippines, and Vietnam. On the labour front, India is a clear winner.
The BSE Sensex was down 326 points at 23,277 and the Nifty was down 107 points at 7,056.
The S&P BSE Sensex closed 318 points at 24,455 and the Nifty50 shed 99 points to end at 7,438.
India Inc on Friday said it is looking forward to a repo rate cut in future as cost of funds has to come down in coming times, and expects continuation of accommodative policy stance by the Reserve Bank of India (RBI). The RBI decided to leave the benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, as the economy faces the brunt of the second COVID-19 wave. Sanjay Aggarwal, president of PHD Chamber of Commerce and Industry, said the RBI has maintained an accommodative stance as long as necessary to revive and sustain growth on a durable basis and to mitigate impact of COVID-19, apart from an aim to keep inflation within the target.
Broader markers outperformed their larger peers.
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
RBI Governor would like to wait till Budget before taking any action on rate front.
Metal stocks also had a good session, with JSW Steel zooming by 7%, and Tata Steel and Nalco gaining about 3% each.
The career bureaucrat-turned-central banker walked into the 19th floor corner room of the Reserve Bank on December 12, 2018. Since February 2019, the Das-led RBI has cut the repo rate by a whopping 135 basis points to support the sagging growth, including an unprecedented 35 bps reduction in August. As he completes one year at the helm, woes in the NBFC sector, overall health of the banking sector and steeply falling economic growth are among the major challenges that needs to be tackled sooner than later.
'Education played the most significant role in entrenchment of Hindutva ideology in coastal Karnataka.' 'Teachers of most of the schools, junior colleges, degree colleges and universities are active agents of Hindutva propaganda.'
The S&P BSE Sensex has dipped five per cent, thus far, in CY15.
With the number of coronavirus infections declining in the country, industry chamber FICCI has suggested the government to follow a graded approach in unlocking economic activities. The chamber has suggested opening up of economic activities depending upon the positivity rate of COVID-19 cases in that region or district. It has divided regions at four levels - minimal risk, low risk, medium risk and high risk. It has asked for opening e-commerce supplies for both essential and non-essential activities in all districts irrespective of the positivity rate, besides home delivery of alcoholic beverages, logistics, warehousing and all cargo movement.
SBI leads a 17-member consortium of lenders that is trying to recover dues running into over Rs 7,500 crore (Rs 75 billion) in principal alone from Kingfisher Airlines.
The banks also wanted disclosure of assets of Mallya's other close relatives and former relatives, including his ex-wife, which was objected by his counsel.
The benchmark BSE Sensex reclaimed the 28,000 mark, spurting by 409 points or 1.4% at 28,114 and Nifty settled above the 8,500 mark at 8,532, gains of 111 points.
Broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices are up 0.8%-1%.
On Tuesday, Finance Minister P Chidambaram had more than adequately made clear that the government would be allocating Rs 14,000 crore through Budget, the Financial Services Secretary said.
The broader NSE index has fallen about 0.9% as investors wait for corporate results
Positive cues from the global market front aided the rally.
The banks used for the fraud include ING Vysya Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IndusInd Bank, Dhanlaxmi Bank, YES Bank and DCB Bank.
Prime Minister Modi saw a reflection of himself -- she does not come from a political background, has no lineage, and had a lifetime of personal struggle and sacrifice.
We have a government with an extremely weak economic team advising a PM who hardly pays attention to their thoughts, says Jayanta Roy.
Participants are keenly waiting for the January IIP.
Asian shares ended higher after a string of positive US economic data.
NHAI to pay only Rs 175-200 cr as it takes over from concessionaire
Natco Pharma, Wockhardt and Marksans have rallied between 50 and 70 per cent in the year till date.
Deepak Narang, executive director of United Bank of India, speaks on Vijay Mallya's 'wilful defaulter' status.
YES Bank raises base rate; HDFC Bank, Axis hike deposit rates.
The Nafed has outstanding dues of Rs 224.26 crore (Rs 2.24 billion) as of February 15.
Falling private sector investment and farm distress are problems that call for immediate attention, says T N C Rajagopalan.
Sun Pharma was the top gainer after SPARC received Sebi nod to raise up to Rs.250 crore through a rights issue
BSE Bankex and Telecom indices led the fall.
PSU bank shares were the top gainers on hopes of a rate by the RBI on easing consumer inflation
A study by researchers from the Indian Institute of Technology Bombay found that a droplet remains liquid for a much shorter time on a porous surface, making it less favourable to the survival of the virus.
The Nifty had hit its third successive record high of 7,922.70 today.
Decline in the rupee coupled with a slide in the crude oil prices have dented the sentiments.
Mobility company Ola's chief financial officer Swayam Saurabh and chief operating officer Gaurav Porwal are leaving the company. These developments come at a time when the SoftBank-backed company's core ride-hailing unit is planning to go public and for which it raised $500 million from Warburg Pincus and Temasek in July this year. These investment firms had partnered with the company founder Bhavish Aggarwal for this round.
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