Mumbai, Jun 13: Some selling pressure gripped the market in the last hour of trade as investors may have turned cautious ahead of US Federal Reserve’s policy meet decision later in the day. The day witnessed some volatile moves. The Nifty was seen eyeing 10,900 at one point during the day. Benchmark indices began […]
New Delhi, Jun 13: The government has instructed telecom operators to tweak their systems and networks to enable use of Virtual IDs in lieu of Aadhaar number and migrate to the ‘limited KYC’ mechanism for mobile subscribers. The latest move is in line with the ensuing implementation of the new Virtual ID system from […]
Mumbai, Jun 13: Tata Steel is likely to have an edge in the battle for Bhushan Power & Steel after the Committee of Creditors (CoC) sat through presentations on resolution plans from all bidders on Monday. All the three bidders — Tata Steel, Liberty House and JSW Steel — made presentations on their resolution […]
New Delhi, Jun 13: Reserve Bank of India Governor Urjit Patel’s plea to withdraw its nominees on the board of banks was also advocated by his predecessor Raghuram Rajan. However, a committee under veteran banker P J Nayak, which had submitted a report in 2014 to review the governance of banks, was not in favour […]
Mumbai, Jun 13: Global ratings agency Moody’s Investors Service today gave counterparty risk ratings (CRR) to 15 lenders in the country, including fraud-hit Punjab National Bank and country’s largest lender SBI. Others who got the ratings include ICICI Bank, Axis Bank, Bank of Baroda and HDFC Bank, among others. It said the CRR are […]
Mumbai, Jun 12: The Sensex and Nifty closed higher on rise in pharma and banking stocks amid higher Asian markets buoyed by the summit between President Donald Trump and North Korean leader Kim Jong Un in Singapore. While the Sensex closed 209 points higher at 35,692 level, the Nifty ended at 10,842, a gain of […]
Mumbai, Jun 12: Leading bourse BSE and its joint venture (JV) partner Ebix, a US-based insurance exchange, are awaiting approval from the IRDAI to start an insurance distribution exchange platform, and expect to launch it by the end of this year, a senior BSE official said. The platform will allow distribution outlets, stock brokers, wealth […]
Mumbai, Jun 12: The promoters of Hotel Leelaventure that owns and manages Hotel Leela & Resorts might cede majority stake in the hospitality company. This seems possible with a proposed share sale to JM Financial Asset Reconstruction Company (JMFARC), for conversion of debt into equity. After the transaction, which will take place in tranches after […]
New Delhi, Jun 12: The government has put on hold disinvestment of Indian Railway Catering and Tourism Corporation (IRCTC) as it wants to tap the massive pile of data. The ministry is working out a revamp plan before selling shares in one of the largest e-commerce sites to realise a better value. Railway minister […]
New Delhi, Jun 12: Usha Martin has decided to sell its steel business to help reduce debt. The board inter alia reconstituted the committee of independent directors of the company to appoint investment banks, consultants and advisors to help evaluate proposals and oversee the process of sale of the steel business, the company informed […]