Tata Steel was the top loser in the Sensex pack, plunging over 8 per cent, followed by SBI, Dr Reddy's, Kotak Bank, Sun Pharma, Bajaj Auto and L&T. NSE Nifty declined 118.35 points or 0.71 per cent to 16,450.50.
BMS, BKS and SJM are trying to forge common cause with outfits on the other side of the ideological divide over the government's policies they are not in agreement with.
The National Company Law Appellate Tribunal has directed the new board of the debt-ridden IL&FS Group to distribute Rs 16,361 crore of cash and InvIT units available across the Group to its creditors on pro-rata basis. The interim distribution award of Rs 16,361 crore includes Rs 11,296 crore in cash and Rs 5,065 crore in InvIT units (Infrastructure Investment Trusts) and a majority of this is to be distributed to the creditors of three large group firms -- IL&FS, IFIN and ITNL. "The interim distribution shall be confined only to the entities as reflected in Annexure-6 except those excluded and for the amount of Rs 16,361 crores i.e Rs 11,296 crore of cash and Rs 5,065 crores of InvIT Units," said an order by a two-member NCLAT bench headed by Chairperson Justice Ashok Bhushan.
Investors need to evaluate how they stack up against other high credit quality fixed-income options before putting money in them.
Over 25,600 cases of banking fraud reported up to December 21, 2017, says Minister RS Prasad.
India's economy will do well once vaccination reaches a critical mass as pent up demand, global recovery and easy financial conditions will boost activities, RBI's Monetary Policy Committee (MPC) member Ashima Goyal said on Tuesday.
A joint forum of central trade unions has given a call for a nationwide strike on March 28 and 29, to protest against government policies affecting workers, farmers, and people. The Joint Platform of central trade unions held a meeting in Delhi on March 22, 2022, to take stock of the preparations in various states and sectors for the proposed two-day all India strike on 28-29 March 2022 against "the anti-worker, anti-farmer, anti-people and anti-national policies" of the central government, a statement said. The statement said that roadways, transport workers and electricity workers have decided to join the strike in spite of the impending threat of ESMA (Haryana and Chandigarh, respectively). Financial sectors, including banking and insurance, are joining the strike, it stated.
In eight cases, the banks would violate the minimum public shareholding norms if their promoter, the Government of India, infused capital as announced.
One crucial revenue source that can help the government achieve its fiscal-deficit target is the proceeds from the sale of its stakes in public sector companies.
This comes even after the Indian ambassador there had said this would affect the interests of other Indian companies.
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health and auto insurance related queries.
Bharti Airtel was the top gainer in the Sensex pack, jumping around 3 per cent, followed by Nestle India, Tata Steel, Bajaj Finserv, HCL Tech and ITC. NSE Nifty rose 15.75 points to settle at 17,369.25.
A section of analysts feel now may not be a bad time to buy select PSBs.
Jaitley said the government had earmarked Rs 25,000 crore (Rs 250 billion) for recapitalisation.
Employees of public sector banks have called off the strike planned on February 25 and 26
Meghalaya Chief Minister Conrad Sangma on Thursday said Union Home Minister Amit Shah has given firm assurances at a meeting held in Delhi of acting on his request for a Central Bureau of Investigation (CBI) probe into the 'firing by Assam Police' along the states' border.
Bank of Baroda has relatively better position on impaired assets.
He alleged that the public enterprises department headed by Heavy Industries and Public Enterprises Minister Sontosh Mohan Dev has been "pursuing a much narrower agenda, in which governance reform of PSUs does not figure
Domestic institutional shareholders, who together hold around 39 per cent stake in the National Stock Exchange, are unhappy with the exchange's strategy of not charging transaction fees in the currency derivative segment.
SBI remains a favourite of most brokerages in the PSB segment.
In a series of tweets reacting to banks led by State Bank of India taking over management control of troubled Jet Airways, Mallya said, "...Only wish the same was done for Kingfisher".
Since the beginning of 2020, i-bankers have collected nearly Rs 1,800 crore by way of IPO fees. Interestingly, the India fees this year form just 1 per cent of the global fee pool of $13.7 billion from IPOs.
TCS was the top gainer in the Sensex pack, rising over 3 per cent, followed by HUL, UltraTech Cement, Nestle India, Kotak Bank, Dr Reddy's and Titan. NSE Nifty surged 157.90 points to 17,234.15.
ONGC was the top loser in the Sensex pack, shedding around 4 per cent, followed by NTPC, PowerGrid, M&M, Nestle India, SBI and HCL Tech. On the other hand, HUL, Bajaj Auto, Bharti Airtel, Bajaj Finserv were among the gainers.
Sensex catapults 1,241 points and Nifty vaults 382 points in two sessions in a row.
As oil marketing companies (OMCs) stare at huge under-recoveries, India is facing fuel shortage across the country with states like Rajasthan, Madhya Pradesh, Karnataka Uttarakhand, Gujarat and Haryana being the worst hit. The under-recoveries suffered by OMCs are around Rs 20-25 a litre for diesel and Rs 14-18 a litre for petrol, said sources. Government and state-run companies denied reports of any crisis or supply-side issues on the availability of fuel.
Prabhat Kumar from Kishtwar, Jammu and Kashmir explains how his wife Ranjana supported him and kept his family together in difficult times.
There is the larger issue of whether PSUs should be going through such elaborate tendering procedures when no private company follows the same procedures. In today's ultra-competitive world, it does seem an invitation to disaster.
Employees of public sector banks on Wednesday withdrew their proposed strike on Friday, called to protest the cases filed by the management of Central Bank of India against its employees for going on strike last month.
Officials also said that the move to send out the emails was a conscious choice as part of a communication strategy for public interest.
NTPC was the top gainer in the Sensex pack, rallying around 4 per cent, followed by Titan, SBI, HUL, IndusInd Bank and UltraTech Cement. NSE Nifty advanced 63.15 points to 15,746.50.
The move to make the appointment process more robust comes after last month's arrest of S K Jain, chairman and managing director of Syndicate Bank last month, over graft charges.
The Nifty Bank index has come off 15 per cent from its peak in February, underperforming the benchmark Nifty which is down 6%.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
After the fiasco in March this year over the share sale in Oil and Natural Gas Corporation ( ONGC ), the government has softened its stand over the pricing.
This comes after the arrest of Syndicate Bank Chairman S K jain.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Titan was the top loser in the Sensex pack, shedding over 1 per cent, followed by TCS, HCL Tech, Reliance Industries, UltraTech Cement and Bharti Airtel. NSE Nifty settled 45.65 points down at 15,814.70.
The Central Bureau has summoned Trinamool Congress's member of Parliament Abhishek Banerjee's brother-in-law in connection with a case of alleged illegal coalmining from the mines of the Eastern Coalfields Limited (ECL) in West Bengal's Asansol, involving the "kingpin" of the racket, Anup Manjhi, officials said on Friday.
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