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BusinessToday.in
New Delhi, August 17, 2018
Why Indians should be grateful to Atal Bihari VajpayeeAs the nation mourns the loss of former Prime Minister Atal Bihari Vajpayee, it's also time to remember all that he did for India's economy. He started the 'Sarva Shiksha Abhiyaan' with the aim to provide education for all. He made India a nuclear state. Pokhran 2 was conducted during his tenure. He laid the foundation of the Golden Quadrilateral in 1999 for smoother movements of products and people. He's also considered the architect of the telecommunication sector in the country. He established a separate disinvestment ministry. He passed the Chandrayan-1 project.Health insurance to now cover mental illness says IRDAIIn a pathbreaking move, 3 months after  the Mental Healthcare Act, 2017 came into force, the Indian insurance regulator IRDAI has notified insurers to cover medical treatment for mental illnesses. The notice issued on Aug. 16, said that, \"every insurer shall make provision for medical insurance for treatment of mental illness on the same basis as is available for treatment of physical illness.\" The order is applicable on all insurance companies in India with immediate effect. The Mental Healthcare Act, 2017, which came into effect on May 29, is aimed at protecting the rights of persons with mental illnesses during delivery of mental healthcare and services.UPI gets an upgrade with new featuresNational Payments Corporation of India (NPCI) has launched UPI 2.0 in Mumbai as an upgrade to the first iteration of Unified Payments Interface (UPI) that debuted in April 2016. The new UPI version has features such as UPI Mandate and Invoice in the Inbox. There are also new security enhancements including Signed Intent and QR that are designed to let customers verify merchants before making any payments as reported by NDTV. Further, there is an option to attach UPI to an overdraft (OD) account. This comes in addition to the existing saving and current account support. Banks that are using the upgrade include State Bank of India (SBI), HDFC Bank, Axis Bank, ICICI Bank, IDBI Bank, RBL Bank, Yes Bank, Kotak Mahindra Bank, IndusInd Bank, Federal Bank, and HSBC.Mercedes-Benz to hike prices by up to 4% next monthGerman luxury carmaker Mercedes-Benz said it will hike prices of its vehicles across models by up to 4 per cent from September to offset adverse impacts of rising input costs and upward forex movement. The rising inflation due to geo-political dynamics, coupled with rising input costs and increasing forex rates has been exerting significant pressure on overall operations, Mercedes-Benz India said in a statement.Airlines advised to keep air fares in check for Kerala flightsThe Central government has asked domestic airlines to keep a check on air fares for flights operating to and from Kerala.The advisory comes as the state suffers from one of the worst bouts of floods in the recent past.According to the Ministry of Civil Aviation, airfare on 18 domestic routes are being monitored. The monsoon fury has hit different parts of Western Ghats including districts of Kerala and adjoining areas in Karnataka.Plunging rupee to increase India's oil import bill by $26 billionIndia's crude oil import bill is likely to surge by about $26 billion in 2018-19 as rupee falling to a record low has made buying of oil from overseas costlier, government officials said yesterday as reported by Mint. The Indian rupee opened at 70.25 and plunged to a fresh record low of 70.40 a dollar. Moreover, the weak rupee will also lead to a hike in the retail selling price of petrol, diesel and cooking gas (LPG).


PTI
August 16, 2018
RBI Governor Urjit Patel today unveiled UPI version 2.0 which will allow customers to use overdraft limit for making payments for merchants.


BusinessToday.in
New Delhi, August 2, 2018
The Sensex suffered its biggest single-day rout in over four months today as investors scrambled for the exit amid a flare-up in Sino-US trade frictions. Profit-booking by participants following the recent rally on Dalal Street added to the selling pressure, brokers said. Rate-sensitive auto, bank and realty stocks continued their slide, a day after the RBI hiked rates, making loans costlier for consumers. The Sensex plunged 356 points to close at a one-week low of 37,165.16, while the NSE Nifty dropped 101.50 points to finish below the 10,300-mark. This is its biggest single-day fall since March 23, when it had plunged 409.73 points. The broader Nifty too succumbed to widespread selling and hit a low of 11,234.95, before ending at 11,244.70, down 101.50 points, or 0.89 per cent. Bharti Airtel was the top Sensex loser, skidding 2.79 per cent, followed by Kotak Bank at 2.54 per cent and Maruti Suzuki 1.97 per cent. PowerGrid spurted 2.25 per cent, Coal India 1.07 per cent, HUL 0.92 per cent and IndusInd Bank 0.91 per cent, among others. The RBI had on Wednesday cautioned that the rising trade tensions can escalate to a full-blown currency war, hurting global growth. Asian and European bourses tumbled after Beijing said it will retaliate if the US goes ahead with its threat of imposing higher tariffs on Chinese imports. That's all for today's market wrap. Stay tuned for more.


PTI
August 2, 2018
The Sensex plunged 356 points to close at a one-week low of 37,165.16, while the NSE Nifty dropped 101.50 points to finish below the 10,300-mark.


BusinessToday.In
New Delhi, July 26, 2018
Incorporated in 1987, IL&FS was ex-Citibanker Parthasarathy's brainchild and was initially promoted by the Central Bank of India, Housing Development Finance Corporation Limited and Unit Trust of India (UTI).


BusinessToday.In
New Delhi, July 26, 2018
Extending its record run for the fourth-day, the 30-share Sensex touched a new peak of 37026.18 today on widespread buying in capital goods, FMCG, realty and banking stocks.


Anand Adhikari
New Delhi, July 24, 2018
New capital with new management is good news for private banks.


Aseem Thapliyal
July 12, 2018
The Nifty ended above 11, 000 level for the first time since February 1 and is now 2% away from record highs. Sensex hit all-time high of 36,699 intra day after opening at 36,424 level.


BusinessToday.In
July 12, 2018
At 9:58 am, the Sensex was trading 258 points higher at 36,523 level with Nifty rising 75 points to 11,023 level. On January 29, Sensex and Nifty reached all time high levels of 36,443 and 11,171 levels, respectively on expectations from Union Budget and optimism over Q3 earnings.


BusinessToday.in
New Delhi, June 20, 2018
Ruchit Jain, Technical Analyst, Angel Broking, takes viewers through all the market action today. The Sensex and Nifty closed higher in line with the global peers on cues that the global economy was on growth track amid escalation of tariff war between US and China. While the Sensex rose 260 points higher to 35,547, the Nifty rose 61 points to 10,772 level.


BusinessToday.In
June 20, 2018
The Sensex and Nifty closed higher in line with the global peers on cues that the global economy was on growth track amid escalation of tariff war between US and China. While the Sensex rose 260 points higher to 35,547, the Nifty rose 61 points to 10,772 level. Top gainers on the Sensex were Reliance Industries, IndusInd Bank, and Vedanta. Small cap and midcap indices on the BSE rose 0.27% and 0.23%, respectively.  The revival was led by banking stocks with BSE Bankex rising 1.04% or 306 points to 29,709 level.  Bank Nifty too rose 292 points to 26,557 level. Metal and auto stocks too contributed to the recovery with BSE metal and auto indices rising 1.09% and 0.45%, respectively.  The IndiGo stock was the top BSE loser after a media report said enforcement directorate had summoned top management of the airline in connection with an alleged case of FEMA violations. The stock closed 7.49% or 92 points lower at 1136.15 level on BSE.Market breadth was marginally negative with 1,309 stocks closing higher against 1314 ending lower on the BSE.


BusinessToday.In
June 20, 2018
Small cap and midcap indices on the BSE rose 0.27% and 0.23%, respectively. The revival was led by banking stocks with the BSE Bankex rising 1.04% or 306 points to 29,709 level. Bank Nifty too rose 292 points to 26,557 level.


BusinessToday.In
June 19, 2018
Asian markets nosedived after US President Donald Trump's threat to impose a 10 percent tariff on another $200 billion of Chinese goods drew warnings from Beijing of about $50 billion retaliatory penalties on US goods. Unabated selling by foreign funds and a weak rupee added to the gloom, brokers said.


Nevin John
New Delhi, June 16, 2018
Under the Insolvency and Bankruptcy Code, the sale process has almost been completed in three cases -- Bhushan Steel, Electrosteel Steels and Monnet Ispat and Energy. There is less clarity in the other cases when the 270 day timeframe for resolution ends around now.


BusinessToday.In
June 12, 2018
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 56 points. Both the indices closed at over their four month highs after starting the day in positive territory. Markets are also awaiting the release of key macroeconomic data of IIP and retail Inflation (CPI) due later today. Markets are also awaiting the release of key macroeconomic data of IIP and retail Inflation (CPI) due later today. Dr Reddy's, SBI and IndusInd Bank were the top Sensex gainers.Pharma stocks led the charge on the BSE with the healthcare index closing 1.94% or 262 points to 13,755 level. Capital goods and banking stocks led to the rally. While the BSE Capital goods index rose 220 points to 18,756, the bankex was up 204 points to 29,813 level. Market breadth was positive with 1,438 stocks closing higher compared with 1,227 stocks ending in the red. 141 stocks were unchanged.On Monday, the index finished at 35,483, up 39.80 points, or 0.11 per cent. The 50-share NSE Nifty, which reclaimed the 10,800-mark intra-day, settled at 10,786, showing a gain of 19.30 points, or 0.18 per cent.


PTI
June 12, 2018



BusinessToday.In
June 12, 2018
While the Sensex closed 209 points higher at 35,692 level, the Nifty ended at 10,842, a gain of 56 points. Both the indices closed at over their four month highs after starting the day in positive territory.


BusinessToday.In
June 7, 2018
The Sensex and Nifty logged their highest close in more than three weeks led by surging banking stocks amid higher Asian and European indices. While the Sensex rose 284 points or 0.81% higher at 35,463, the Nifty closed 83.70 points or 0.78% higher at 10,768. Tata Steel, Tata Motors and ICICI Bank were the top Sensex gainers. Coal India, IndusInd Bank and Kotak Mahindra Bank were the top Sensex losers. Midcap and small cap indexes which saw a rout during the last five months rose 1.40% and 1.96%, respectively. Banking stocks took the market higher with the BSE bankex rising 203 points or 0.69% to 29,663.  The index was the top gainer among 19 sectoral indices. Bank Nifty too rose 0.57% or 150 points to 26,517 level. Capital goods and  auto index were also among the top gainers on the BSE. Market breadth was positive with 1961 stocks closing higher against 747 ending in the red on the BSE.


BusinessToday.In
June 7, 2018
Midcap and Small cap indexes which saw a rout during the last five months rose 1.40% and 1.96%, respectively. Banking stocks took the market higher with the BSE bankex rising 203 points or 0.69% to 29,663.  The index was the top gainer among 19 sectoral indices.


PTI
June 5, 2018



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