Reliance Industries Ltd will sell 4.3 million tonnes of petroleum products from its 33 million tonnes Jamnagar refinery in Gujarat to public sector oil retailing companies in 2004-05.
Gartner Inc, the research and advisory firm, expects mergers and acquisitions in public sector banks to gain momentum during the next couple of years, as the Indian government is "poised to increase" foreign holding in Indian banks.
The 50-share NSE Nifty ended up 37.05 points, or 0.36 per cent, at 10,397.45 points
The 50-component Nifty closed at 10,214.75, a solid gain of 96.70 points, or 0.96 per cent
Nifty PSU bank index dropped nearly 2%
Employees of PSU oil firms said they will strike work on Tuesday against the proposed privatisation of cash-rich oil refiner Indian Oil Corp.
The NSE Nifty settled the day 93.20 points or 0.88 per cent lower at 10,452.30 after shuttling between 10,612.90 and 10,434.05.
Sun Pharma was the biggest loser among Sensex components, plunging 3.94 per cent, followed by Tata Steel falling 3.12 per cent.
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Move can also bring a huge change in the way business is done in India, where firms use multiple current accounts, often for even individual projects, making them difficult to monitor.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
This is aimed at improving liquidity in all schemes and would help them to meet sudden redemption pressures, said Sebi chairman Ajay Tyagi.
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Among Sensex components, shares of Reliance Industries, India's largest company by market value, stole the show by surging 1.61 per cent to their highest in over three months.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
'By holding forth on Swadeshi economics, Bhagwat is showing his intent to fight back,' says Shekhar Gupta.
In the first dedicated mission of its commercial arm New Space India Limited (NSIL), the Indian Space Research Organisation on Sunday successfully launched Brazil's earth observation satellite Amazonia-1 and 18 other co-passengers, including five built by students, onboard a Polar rocket from the spaceport in Sriharikota.
With the government planning to mop up Rs 24,000 crore (Rs 240 billion) through disinvestment this financial year, investors have once again become interested in public sector companies.
Oil & gas, banking and pharma sector stocks stole the show
International consultants Hewitt Associates has said it is helping two foreign firms in bidding for PSUs put up for divestment and is engaged in due diligence for four private companies for M&As in financial, IT and commodities sector.
India's minister for privatisation on Friday said a much-awaited stake sale in state-run refiners Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited could go ahead as soon as the prime minister gave his approval.
Divestment Minister Arun Shourie on Thursday declined to comment on reports that Indian companies would be kept out of bidding in the divestment process relating to public sector oil companies.
The government plans to set up a separate divestment fund out of the proceeds of privatisation of the PSUs and use it to meet the basic needs of the people.\n\n\n\n\n\n\n\n\n\n
After years of disappointing growth, the economy and the markets are poised for a breakout, notes Akash Prakash.
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The broader Nifty slumped 47 points, or 0.45 per cent, to close at 10,303.15
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The 30-share Sensex surged 435.16 points, or 1.33 per cent -- its biggest single session gain since May 25
But demand has shown signs of pick up in the last 10 days of April after the government allowed resumption of economic activity beyond the urban municipal limit.
'NiMo having skipped, the next best bet is a high-profile banker.' 'Ms Usha happens to be in the wrong place at the wrong time.' 'Ms Usha's crime? That's as thin as it gets.'
The government is keen to close the sale before March 31, 2021, to help meet a record Rs 2.1 lakh crore target which Finance Minister Nirmala Sitharaman has set from divestment proceeds in the Budget for 2020-21.
The agency has registered the FIR after a preliminary enquiry on a complaint from the oil ministry.
The Nifty PSU Bank pared losses to end flat after falling as much as 1.05%
Fresh buying by domestic institutional investors and better-than-expected June quarter results from some blue-chip companies boosted investor sentiment
Top losers in the Sensex pack include Bharti Airtel, Infosys, Asian Paints, RIL, Coal India, HDFC Bank, HDFC, TCS, ONGC and M&M, falling up to 3.09 per cent.
This was a rare instance when Gandhi raised an issue during the Zero Hour.
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