Mumbai, Dec 10: Bears took complete control on D-Street, as benchmark indices shed nearly 2 percent. Weak global cues, reactions to exit polls as well as weak macro data weighed big on Sensex and the Nifty. The 50-share index ended the session below 10,500. Selling was visible across all sectors, with maximum pain seen among […]
New Delhi, Dec 10: JSW Steel is looking to raise up to Rs 3,500 crore via a domestic bond sale to partly finance its Rs 19,500-crore acquisition of Bhushan Power & Steel, reports said. The Mumbai-based steelmaker plans to sell about Rs 3,000-3,500 crore of bonds and is reportedly in talks with lenders Credit Suisse, […]
Washington, Dec 10: India’s growth has been “very solid” over the past four years, IMF’s chief economist Maurice Obstfeld said, praising the fundamental economic reforms like the GST and the Insolvency and Bankruptcy Code (IBC) carried out by the government. Obstfeld, 66, — who is set to retire this month-end — will be succeeded by […]
Mumbai, Dec 10: Reliance Industries (RIL) has created seven subsidiaries to manage its growing telecom and content business, a month after completing deals with Den and Hathway Cable Networks, a senior official told Mint. The subsidiaries are called Jio Content Distribution Holdings, Jio Internet Distribution Holdings, Jio Television Distribution Holdings, Jio Cable and Broadband Holdings, […]
New Delhi, Dec 10: Oil prices rose on Monday, extending gains from Friday when producer club OPEC and some non-affiliated producers agreed a supply cut of 1.2 million barrels per day (bpd) from January. Despite this, the outlook for next year remains muted on the back of an economic slowdown. International Brent crude oil futures […]
New Delhi, Dec 10: Regulators in India that are not answerable to any appellate authority should involve other stakeholders for better decision-making, the country’s finance minister said. While the markets regulator, the competition watchdog and the insurance regulator all have a tribunal for appeals, some, including the central bank, do not have one. “There would […]
New Delhi, Dec 10: In a series of reforms, capital markets regulator Sebi plans to expand its offer for sale (OFS) framework to more companies, relax its norms for clubbing of investment limits by established foreign investors and tighten insider trading rules. The regulator is also planning to relax its disclosure norms for housing finance […]
New Delhi, Dec 10: Engineering and farm equipment maker Escorts has formed a joint venture (JV) with Japan’s Kubota Corporation to produce high-end technology tractors for domestic as well as export geographies, a joint statement issued by the two companies Monday said. The JV will leverage Kubota’s technology and engineering prowess of Escorts to cater […]
New Delhi, Dec 10: Gross direct tax collections surged 15.7 per cent to Rs 6.75 lakh crore for April-November, the finance ministry said Monday. Refunds worth Rs 1.23 lakh crore have been issued in the eight months of the current fiscal, which is 20.8 per cent higher than refunds issued in the same period last […]
New Delhi, Dec 9: In a series of reforms, capital markets regulator Sebi is planning to expand its Offer For Sale framework to more companies, relax its norms for clubbing of investment limits by established foreign investors and tighten insider trading rules. The regulator is also planning to relax its disclosure norms for housing finance […]