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PTI
New Delhi, July 17, 2018
Counsel appearing for the consortium of banks and FIs tells the apex court that Jaiprakash Associates Limited and Jaypee Infratech Ltd are separate legal entities, and if JAL is forced to pay for JIL then it will have adverse impact on JAL.


PTI
July 17, 2018
Sentiment got a boost after global crude oil prices dropped by over 4 per cent yesterday owing to oversupply fears, helping the rupee to strengthen against the dollar, brokers said.


BusinessToday.In
July 17, 2018
The IPO will open for subscription of anchor investors on Tuesday, July 24, 2018. The minimum bid lot for the IPO has been fixed at 13 equity shares and applications may be made in multiples of 13 equity shares thereafter.


BusinessToday.In
New Delhi, July 17, 2018
Changes in visa rules to have serious adverse consequences on US economy: Nasscom  Indian IT body Nasscom has said the recent work visa-related changes announced by the US will have \"potentially serious adverse consequences\" on the American economy as it will make it more difficult for companies to employ skilled foreign nationals to fill critical skills gaps in the US. One of the changes, which come into effect on September 11, allows US Citizenship and Immigration Services (USCIS) adjudicators full discretion to deny applications, petitions, and requests without first issuing a Request for Evidence (RFE) or Notice of Intent to Deny (NOID).  People should have rights over their data; firms mere custodians: Trai  Trai has said firms collecting user data don't have a right over it and emphasised that consumers' consent should be mandatory and they should also be given the 'Right to be Forgotten'. Terming the existing data protection framework as inadequate, the Telecom Regulatory Authority of India (Trai) recommended to DoT that companies should not use meta-data to identify users and should disclose any data breaches. It said entities controlling and processing user data are \"mere custodians\" and all of them should be brought under a data protection framework.  Jaypee ready to sell cement business to refund homebuyersJaiprakash Associates Limited (JAL) pleaded before the Supreme Court on Monday that the company would deposit another Rs 600 crore to refund homebuyers if it was allowed to dispose of its identified assets, which included a cement plant at Rewa in Madhya Pradesh. Senior advocate Fali S Nariman, counsel for JAL, informed a bench headed by Chief Justice Dipak Misra that the Noida-based real estate company has already deposited Rs 750 crore with the Supreme Court's registry and it would pay another Rs 600 crore in seven instalments for paying the principal amount to the homebuyers.ICICI Bank decides to postpone AGM by a month  ICICI Bank has decided to postpone its annual general meeting (AGM) by a month amidst independent enquiry on alleged cases of impropriety against the bank's CEO Chanda Kochhar. The meeting has been rescheduled to September 12. Meanwhile, Kochhar has gone on leave till the completion of an external enquiry into alleged conflict of interest in extending loans to some corporates like Videocon. Kochhar and her family members are facing allegations of quid pro quo and conflict of interest with respect to a loan extended to certain entities, including the Videocon group. Multiple agencies, including the CBI and regulator Sebi, are already probing the alleged lapses involving Kochhar and her family members. SBI tells its 70,000 employees to return 'compensation' paid for working overtime during note banMore than 70,000 employees of associate banks of the State Bank of India are angry. Banking staff worked overtime post-demonetisation to meet the demands of long queues of people waiting to exchange old notes with the new ones. The bank staff had been promised \"overtime compensation\" by the employer banks for the \"extra hours\" they worked post-demonetisation. The 70,000 officers and employees of banks like State Bank of Patiala, State Bank of Hyderabad, State Bank of Mysore, State Bank of Travancore and State Bank of Bikaner & Jaipur - these all merged with the SBI on April 1, 2017 - got the compensation but now they are being asked to \"return the compensation for extra work\". IMF warns of rising risks to global growth amid trade tensions  The global economy is still expected to grow at a solid pace this year, but worsening trade confrontations pose serious risks to the outlook, the International Monetary Fund has said. The IMF's updated World Economic Outlook (WEO) forecast global growth of 3.9 per cent this year and next, despite sharp downgrades to estimates for Germany, France and Japan. The US economy is still seen growing by 2.9 per cent this year, and the estimate for China remains 6.6 per cent, with little impact expected near term from the tariffs on tens of billions of dollars in exports the countries have imposed on each other so far.


PTI
July 16, 2018
ICICI Bank's annual general meeting has been rescheduled to September 12 as against the earlier schedule of August 10.


BusinessToday.In
July 16, 2018
The market closed lower on sell-off in banking, pharma, and metal stocks as investors turned cautious after wholesale inflation surged to a four-year high.While the Sensex fell 217 points to 36,323, Nifty closed 82 points lower at 10,936 level. The broad-based Nifty cracked below the 11,000-mark as 35 of its constituents closed in the red, led by Dr Reddy's, Tata Steel and Lupin.Wholesale price index-based inflation rose to more than four-year high of 5.77 per cent in June on increase in prices of vegetables and fuel items. The WPI inflation stood at 4.43 per cent in May and 0.90 per cent in June last year.Dr Reddy's fell sharply by more than 9 per cent on bourses following a District Court of New Jersey's decision with respect to further sale and commercialisation of its product in the US.In the Sensex pack, Tata Steel fell the most by 6.96 per cent along with Tata Motors (4.77 per cent).Among banking stocks, ICICI Bank fell by 3.26 per cent, SBI by 2.27 per cent and HDFC Bank by 0.46 per cent.Market breadth was negative with 496 stocks closing higher compared with 2113 ending lower on the BSE.


BusinessToday.In
New Delhi, July 16, 2018
The whistleblower, reportedly an anonymous ICICI Bank employee, had written to the bank and the RBI in March alleging irregularities in the conduct of 31 borrower accounts, resulting in incorrect asset classification.


BusinessToday.In
July 13, 2018
The Sensex hit a fresh life-time high of 36,740 in trade today compared to 36,699 level which the index touched in intra day trade yesterday. The Nifty was trading nearly 100 points lower from its all time high of 11,171 level reached on January 29, 2018.


BusinessToday.In
July 11, 2018
These firms' market value has taken a hit due to lack of interest from retail investors, qualified institutional investors, and anchor investors keeping participation in the issue to the minimum. 


PTI
July 9, 2018
During January-June this year, 18 companies have collectively raised Rs 23,670 crore through their respective IPOs, which is higher than Rs 12,000 crore garnered by 13 issuers in the first six months of 2017, according to an analysis of data available with the stock exchanges.


BusinessToday.In
New Delhi, July 5, 2018
To put things in perspective, India's largest lender SBI's home loan book reportedly stands at Rs 3.13 lakh crore - it is the market leader in the space, pipping the country's largest housing finance provider, Housing Development Finance Corporation (HDFC)


BusinessToday.In
July 4, 2018
The device will pose a direct threat to popular phones in the same segment. OnePlus 6 that comes with a base price of Rs 34,999 is expected to get a lot of competition from the new phone.


BusinessToday.In
July 3, 2018
The market closed higher today on buying by domestic institutional investors in the backdrop of easing macro cues such as recovery in the rupee and falling crude oil prices. While the Sensex closed 114 points higher at 35,378, the Nifty rose 42 points to 10,699 level. Sun Pharma, Maruti and Infosys were the top Sensex gainers. Vedanta Ltd was the top Sensex loser after the group's decision to delist Vedanta Resources from the London Stock Exchange in $1.1 billion share buyback. The stock fell 3.25% to close at 230 .95 level. ICICI Bank and HDFC were the other major Sensex losers. Auto and pharma stocks led the gains with BSE auto and pharma indexes  rising  238 points and 251 points, respectively. Market breadth was positive with 1,317 stocks closing higher against 1,290 ending in the red. Coming to the global markets, stocks turned higher as German leaders put to rest fears that a weeks-long dispute on migration may topple Chancellor Angela Merkel's fourth government.Germany's DAX rose 1.2 percent to 12,385 and France's CAC 40 added 0.9 percent to 5,322. Britain's FTSE 100 gained 0.6 percent to 7,589. Wall Street was poised to open higher. Dow and S&P 500 futures were both up 0.4 percent. Meanwhile Asian markets tumbled in the morning as back-and-forth exchanges over looming US tariffs added to worries over the trade war brewing between China and the U.S. Hong Kong's Hang Seng, reopening after a market holiday on Monday, closed 1.4 percent lower at 28,545 as investors reacted to weaker than expected Chinese economic data. The benchmark Nikkei 225 index lost 0.1 percent to 21,785 while South Korea's Kospi added 0.1 percent to 2,272. The Shanghai Composite index gained 0.4 percent to 2,786.


PTI
New Delhi, June 29, 2018
Puri termed the ongoing troubles in the system as a period of transition, and that there is nothing to worry at the systemic level as most of the lenders are either well-capitalised or have the assurance of government support.


BusinessToday.In
June 29, 2018
Chaturvedi, a former IAS officer, was appointed as Additional (Independent) Director for a period of 3 years.


BusinessToday.In
June 28, 2018
Evergreening is a practice whereby banks extend even more loans to debt-laden companies to help them repay previous loans and hopefully earn enough revenue along the way to get out of trouble.


BusinessToday.In
June 28, 2018
Rupee collapsed to a record low of 69.10 against the US dollar by plunging 49 paise in early trade today as rising crude oil prices deepened concerns about the country's current account deficit and inflation dynamics.


BusinessToday.in
New Delhi, June 27, 2018
Sameet Chavan, Chief Analyst, Technicals and Derivatives at Angel Broking, takes viewers through all the market action today. The Sensex and Nifty closed lower in trade today on global stocks reeling under the effect of US China tariff war.  Rupee falling to a 19-month low due to high crude oil prices also affected sentiments. While the Sensex closed 272 points or 0.77% lower at 35,217, Nifty fell 98 points to 10,671.


BusinessToday.In
June 27, 2018
The Sensex and Nifty closed lower in trade today on global stocks reeling under the effect of US China tariff war.  Rupee falling to a 19-month low due to high crude oil prices also affected sentiments. While the Sensex closed 272 points or 0.77% lower at 35,217, Nifty fell 98 points to 10,671. ICICI Bank, L&T and Tata Motors were the top Sensex losers. HDFC Bank, Coal India and TCS were the top Sensex gainers. BSE Midcap and small cap indices fell 235 points and 325 points to 15,425 and 15,970 levels, respectively. Oil and gas and capital goods stocks were the major losers on the BSE.  The BSE oil and gas index fell 540 points to 13,633 level. The capital goods index fell 414 points to 17,094 level. All 19 BSE sectoral indexes except the IT index closed in the red. IT stocks bucked the trend as rupee fell to its 19-month low today. Rupee slipped to its weakest in more than 18 months, hit by higher oil prices and trade war concerns that could spark another bout of capital outflows for Asia's third-largest economy.The currency fell to 68.68 to the dollar, its lowest since November 29, 2016, making it a 0.62 percent decline so far in the day from its previous close of 68.25.Market breadth was negative with 490 stocks closing higher against 2190 ending in the red on BSE.


BusinessToday.In
June 27, 2018
ICICI Bank (3.16%), L&T (2.71%) and Tata Motors (2.22%) were the top Sensex losers. HDFC Bank (0.89%), Coal India (0.74%) and TCS (0.38%) were the top Sensex gainers.


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