Sensex retakes 23k on Eco Survey, Budget hopes; up 178 pts
The benchmark Sensex reclaimed the 23,000-mark as it rebounded by over 251 points in early trade today, spurred by buying by funds and retail investors ahead of release of the Economic Survey later in the day.
Vijay Mallya quits as USL chairman; to receive $75 million from Diageo
Mallya said that he will now be the founder emeritus of USL.
RBI tweaks SDR norms to revitalise stressed assets
Banks asked to provide at least 15% of their residual loan to a company in debt-to-equity swaps.
Alto all set to become first model to sell over 30 lakh units; surpasses Maruti 800
At its peak, Alto had witnessed an annual sales of over 3.4 lakh in 2010-11and it is far more than the figure of 1.9 lakh achieved by Maruti 800 in 1999-2000 at its peak.
The Union rail budget failed to hit the right note for the market, with the benchmark Sensex today plunging nearly 113 points to close below the key 23,000-mark.
Union Budget 2016
The country-by-country reporting is part of the standards that G20 governments are expected to adopt by 2017 as part of the BEPS guidelines.
The firm added removal of the 5/20 rule is estimated to boost international traffic to and from India to over 100 million passengers by FY21, against 43 million in FY14.
As per the new OFS regulations, unsubscribed retail bids will be allotted to institutional investors who chose to carry forward their bids from Tuesday.
Despite a shortfall in direct tax collection, the government has said it will be able to meet the Budget estimate for this financial year.
Benchmark Sensex remained on edge as it fell further by about 142 points in early trade today, extending yesterday's fall, on sustained capital outflows by foreign funds and selling by retail investors amid subdued Asian shares.
Shares of NTPC Ltd declined 2.33 per cent on Tuesday to close at Rs 123.90 apiece in the BSE. More than 1 crore NTPC Ltd shares changed hands across the exchanges against the three month average of 42 lakh, Bloomberg data showed.
The tie-up with OYO Rooms offers a hassle-free platform for IRCTC customers to book hotel rooms across 170 cities in the country.
The total project cost of the Mumbai-Ahmedabad corridor being around Rs 98,000 crore, India will have to invest around Rs 18,000 crore to meet its part of the deal.
This was the last meeting of the DAC before the presentation of the Union Budget on February 29. In Budget 2015-16, Rs 93,657 crore had been budgeted for capital expenditure out of an overall defence budget of Rs 2.46 lakh crore.
Ending a four-day rising streak, market benchmark Sensex today tanked 379 points amid foreign institutions selling heavily and domestic investors staying on the sidelines.
Ratan Tata has accused older carriers of lobbying to retain the overseas flying rule.
Gross non-performing assets, or bad loans, are expected to jump 31.48 per cent in the fiscal ending March 2016 to Rs 426,400 crore from Rs 324,300 crore.
The bank, in its annual report, said the income tax department in February 2015 issued summons and request for information to its Indian company.
Further, non-retail investors who have placed their bids on T day and have chosen to carry forward their bids to T+1 day will be allowed to revise their bids on T+1 day.
The Central Statistical Office (CSO) in its advance estimate of its national income for 2015-16 projected a growth rate of 7.6 per cent, the highest in the last 5 years. Indian economy grew at 7.2 per cent last fiscal.
The 30-share barometer rose 74.32 points, or 0.31 per cent, to 23,783.47. The gauge had gained 517.18 points in the previous three sessions.
‘Project Insight’ is to be implemented phase-wise during the 3-year period spanning 2016-18.
Finance minister Arun Jaitley in the Union Budget 2014-15 proposed allowing international settlement of Indian debt securities.
Union Budget 2016
As part of Central share towards State Plans and Centrally Sponsored Schemes (CSS), the government has already provided Rs 1,72,594 crore, or 84.5 per cent of the FY16 budget estimate of Rs2,04,110 crore.
Sensex overcame its early losses and advanced by a modest 60 points, helped by banking and blue-chips to log the best weekly gain since October.
If allowed, this will let a smartphone user to electronically undertake myriad financial transactions. The biometrics on the phone can potentially replace multi-factor authentication for credit cards and other such secure transactions by offering two-factor authentication at the click of a button.
There is a proposal to offer an FSI of 4 for the buildings on the Metro corridor — 500 m on both sides — and levy 1 per cent extra stamp duty on property transactions to garner funds.
Besides Maharashtra, most states used the event mostly to network, increase their visibility, and kick off talks for future investments. States such as Gujarat, Jharkhand and Odisha also received some key investment proposals.
The 30-share index, which had gained 189.90 points in the previous volatile session, spurted by another 308.81 points or 1.32 per cent at 23,690.68, with all the sectoral indices led by capital goods, healthcare and metal, trading in the positive zone, rising by up to 1.79 per cent.
Railway is looking forward to tapping automobile and FMCG sectors in Rail Budget 2016-17.Presently, it carries commodities such as coal, iron ore, steel, cement, minerals, fertilisers and food grains.
The survey said that the prime contributor in the growth of the state economy was the service sector.
Parekh called for a total overhaul of the public sector banks allowing the entry of right talent, prospective new investors and the Bankruptcy Code.
15 defence suppliers, including six foreign firms, are currently blacklisted by the defence ministry while 23 other firm are under scrutiny.
