India Blog News - Page 9

GDP growth shows headwinds of note ban, GST are becoming tailwinds; but trade wars and oil prices could spoil party

While there is no data to back it, part of this quarter’s GDP growth is due to the formalisation of the economy, brought about by the demonetisation-GST duo.

Brent crude oil futures dip; prices under pressure from record US output, expectations of higher OPEC supplies

Global benchmark Brent was down 12 cents, or 0.16 percent, at $76.67 a barrel by 0159 GMT.

Sensex slips 137 points in volatile trade; HDFC Bank, Asian Paints, TCS among major losers; Rupee rises 21 paise

Sensex fell 137.60 points, or 0.39 percent, to 35,089.66.

Market tumble suggests music has stopped playing for mid-cap; consumer and tech stocks are safe bet for rest of year

The market internals are reflecting the change. The new 52-week lows far outnumber the highs, 64 percent of the stocks in BSE 500 are below their 200 dma and way of their highs showing that the broad market is hurting.

CBDT quashes rumours: Records on Nirav Modi, Mehul Choksi case transferred before fire broke out at Mumbai office

CBDT's clarification came following media reports claiming the records were destroyed in the fire.

Air India disinvestment: After failed sale plan, national carrier seeks restoration of equity infusion from govt

Air India which has a debt burden of about Rs 50,000 crore till March last year, had been receiving about Rs 3,000-4,000 crore equity infusion on an average per fiscal from the government till FY14

Narendra Modi in Singapore: PM visits Changi Naval Base, meets officers of Indian Navy, Royal Singapore Navy

Narendra Modi, on his three-day tour to Singapore, visited the Changi Naval Base and met officers and sailors of the Indian Navy and the Royal Singapore Navy.

ICICI-Videocon loan issue: Bank's Board denies asking CEO Chanda Kochhar to go on leave

On Wednesday, ICICI Bank's Board of Directors had decided to institute a "comprehensive enquiry" to look into an anonymous whistle blower's complaint alleging that Chanda Kochhar had not adhered to provisions relating to "code of conduct" of the bank.

Know of a 'benami' transaction or property? Inform the taxman and you could pocket as much as Rs 1 cr

The 'Income Tax Informants Reward Scheme' has also been amended under which a person can get reward up to Rs 50 lakh for giving specific information about substantial evasion of tax on income or assets in India, which are actionable under the Income-tax Act, 1961.

Fortis stake sale: Cash-strapped healthcare major shortlists four prospective buyers; appoints new chairman

Earlier this week, Fortis Healthcare initiated a fresh time-bound bidding process for its sale after terminating the offer made by the Munjal-Burman combine.

Bagmaker Samsonite's CEO Ramesh Tainwala steps down following short-seller report

The company said in a statement to the Hong Kong stock exchange that Ramesh Tainwala resigned for personal reasons.

GST collections in May declines to Rs 94,016 cr from Rs 1.03 lakh cr in April

As much as Rs 6,696 crore has been released to the states as GST compensation for the month of March 2018, as on 29 May9.

LPG prices: More pain for common man as cooking gas gets costlier by over Rs 2; non-subsidised cylinder rates up by Rs 48

After the hike in petrol and diesel prices, the price of Liquefied Petroleum Gas (LPG) was increased today by Rs 2.34 and Rs 48 for subsidised and non-subsidised cylinders respectively.

PMI: Manufacturing sector grew at a weaker pace in May, inflationary pressures pick up again amid rising oil prices

A slower expansion in output and domestic demand helped push the Nikkei Manufacturing Purchasing Managers’ Index (PMI), down to 51.2 in May from April’s 51.6.

Sensex advances 106 points, Nifty rises 25 points, gains extended on robust GDP data; auto stocks up

Sensex, which had rallied 416.27 points in the previous session, was trading higher by 105.57 points, or 0.30 percent, at 35,427.95.

Petrol, diesel crisis: Govt hopes fuel rates could decline further if crude oil prices stabilise

After relentless rise, crude oil prices have shown signs of cooling down after Saudi Arabia and Russia said it would produce more crude to increase supplies.

Petrol, diesel prices: Unwilling to cut excise duty, govt to ask ONGC to bear fuel subsidy

Petrol and diesel prices have in the last two days have been cut by 8 paisa and 6 paisa a litre, and the government is keen to show a visible reduction which can be possible only if retailers are subsidised.

Air India sale: Time to scrap the idea; govt neither has expertise nor political firepower to execute transaction

Either let the market force decide the price, etc at which Air India should be sold or log off the entire idea.

GDP growth on track this time; numbers suggest the economy is poised for stable expansion

If all elements come together, there would be a good chance of the economy bouncing back to 7.5 percent growth in FY19.

Pinarayi Vijayan deserves a pat on the back for cutting fuel prices; Kerala must now explore newer sources of revenue

After it cut fuel prices, the Kerala government could tap both tourism and toddy to shore up its kitty.

Kathua rape case trial begins in Pathankot after SC moves it out of Jammu and Kashmir

Seven out of the eight accused in the Kathua rape case were brought for trial to Pathankot amid heavy security.

Air India sale: Divestment of national carrier fails to take off; exposes hurdles for Narendra Modi's disinvestment drive

Selling the state carrier is key to Modi’s plans to divest assets and help keep the fiscal deficit at 3.3 percent of GDP, a goal already under pressure from giveaways to farmers and other welfare benefits ahead of a national election in 2019.

Sensex soars 416 points to 35,322, Nifty ends May F&O expiry above 10,700; GDP data eyed

The 50-issue NSE Nifty ended at 10,736.15, up 121.80 points, or 1.15 percent, after shuttling between 10,763.80 and 10,620.40.

PVR evaluating acquisition opportunities of cinema chains; plans to raise funds via non-convertible debentures

PVR, which acquired DT Cinemas in 2016, has sought shareholders' nod for raising up to Rs 1,000 crore through issuance of NCDs.

Indian Oil Corp most profitable PSU for second year in a row; trumps state-run explorer ONGC

ONGC was for long India's most profitable company but lost the crown to private sector Reliance and TCS three years back.

INX Media case: P Chidambaram will not appear before CBI today for questioning

Earlier today, the Delhi High Court granted interim protection to Chidambaram from arrest by the Central Bureau of Investigation (CBI) till 3 July in the case.

INX Media case: P Chidambaram gets interim relief from Delhi High Court till 3 July

Chidambaram's role has come under the scanner of investigating agencies in the Aircel-Maxis deal of Rs 3,500 crore and INX Media case involving Rs 305 crore.

ICICI Bank to probe Videocon-Kochhar issue: By delaying the inevitable, Board made first option their last resort

ICICI Bank’s reluctance to probe the Videocon loan row, and thereby protect CEO Chanda Kochhar, raises questions about its corporate governance standards. 

Air India sale: No bids received so far, but govt 'hopeful' of receiving 'good response' as deadline ends today

The government had on 28 March unveiled plans to sell up to a 76 percent stake in Air Indiar, and transfer the management control to private players.

Sensex soars to over 246 points, surpasses 35,000-mark on global cues; ICICI Bank plunges on probe against CEO Chanda Kochhar

The 30-share Sensex, which had lost 259.37 points in the previous two sessions, recovered by 246.06 points, or 0.70 percent, at 35,152.17.