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BusinessToday.In
August 17, 2018
The Sensex and Nifty closed higher taking cues from global markets which rose on news China was preparing to resume trade discussions with the US, the first negotiations in more than a month. While the Sensex closed 284 points higher at 37,947, Nifty logged a gain of 85 points to end at a record high of 11,470 level,.Top Sensex gainers were YES Bank (3.76%), Vedanta Ltd (3.09%), and SBI (3.02%). Of 30 Sensex stocks, 20 ended in the green. Top Sensex losers were Hero MotoCorp (1.14%), ONGC (0.61%), and Maruti (0.58%). Money and bond markets were closed today on account of Parsi new year. Midcaps and small cap stocks contributed to the gains with the BSE midcap index rising 0.88% or 142 points to 16,306 and small cap index gaining 0.94%  or 156 points to 16,866 level. Banking, metal and consumer durables stocks led the charge with their BSE indices rising 398 points, 216 points and 194 points, respectively.  Market breadth was positive with 1631 stocks closing higher compared to 1075 stocks falling on the BSE. 156 stocks were unchanged.


BusinessToday.In
August 17, 2018
Top Sensex gainers were YES Bank (3.76%), Vedanta Ltd (3.09%), and SBI (3.02%). Of 30 Sensex stocks, 20 ended in the green.  Top Sensex losers were Hero MotoCorp (1.14%), ONGC (0.61%), and Maruti (0.58%).


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).


BusinessToday.In
New Delhi, August 17, 2018
Gross NPAs have exceeded Rs 8.5 lakh crore, up 19% year-on-year, while total provision for NPAs jumped 28% (y-o-y) to Rs 51,500 crore.


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
August 15, 2018
ICICI Bank staff will get an additional 1 per cent interest on domestic FDs below Rs 1 crore, the bank said in a statement. The new FD rates are valid for both general and senior citizens.


BusinessToday.In
August 13, 2018
The Sensex and Nifty closed lower for the second straight session in trade  today on negative global cues and weak rupee. While the Sensex fell 224 points or 0.59% to 37,644 level, Nifty closed 0.65% or 73 points lower at 11,355 level as global markets crashed amid fears that financial crisis in Turkey could spread to other economies. Meanwhile, the rupee hit an all-time low of 69.91 intra day tracking weakness in global currencies. Infosys (1.75%), Sun Pharma (1.65%) and Wipro (1.31%) were the top Sensex gainers. IT sector stocks were the top gainers today due to a fall in rupee. The BSE IT index rose the most among the 19 sectoral indices to close 1.24% or 182 points higher at 14,865 level. A fall in rupee translates to higher income for IT firms. IT companies earn most of their revenues in dollars. So, each dollar earned abroad will now get them more rupees.Banking and oil and gas indices on the BSE were the worst losers with BSE bankex falling 1.20% or 380 points to 31,368 level. The BSE oil and gas index too fell 1.93% or 290 points to close at 14,804. Vedanta (3.40%), SBI (3.17%) and YES Bank (3.11%) were the top Sensex losers. Market breadth was negative with 956 stocks closing higher compared to 1724 falling on the BSE.


BusinessToday.In
August 13, 2018
Meanwhile, the rupee hit an all-time low of 69.91 intra day tracking weakness in global currencies. Infosys (1.75%), Sun Pharma (1.65%) and Wipro (1.31%) were the top Sensex gainers. IT sector stocks were the top gainers today due to a fall in rupee.


BusinessToday.In
New Delhi, August 13, 2018
Jet Airways, however, claimed that its account with SBI and all other banks is \"standard\" and it has not defaulted on any of its payment obligations.


PTI
August 12, 2018
Out of the two accounts on sale, Bombay Rayon Fashions Ltd owesRs 2,260.79 crore to the bank. The second account, Shivam Dhatu Udyog Pvt Ltd, has to repay Rs 229.32 crore.


PTI
August 12, 2018
The Directorate General of Civil Aviation (DGCA) has already evaluated the financial health of the national carrier Air India recently, besides conducting a special audit of Air Deccan, the source close to the development said.


BusinessToday.In
August 12, 2018
Senior officials at SBI mentioned that the embattled airline is part of its overall watchlist for stressed accounts and special mention category loans as on June 30, 2018. Jet. however, had a different story to tell.


BusinessToday.In
August 11, 2018
Expect some profit-booking if the Nifty crosses 11,300-mark on the downside with sharp correction in index pivotals, says Vikas Jain, Senior Research Analyst at Reliance Securities. Watch the BusinessToday.In video for more insight into expected market trends for next week.


BusinessToday.In
New Delhi, August 10, 2018
Even after seeing his business turn upside down and the Indian authorities desperately pushing for his extradition, Mallya's London home has all the worldly luxurious things one can imagine, one of which is a golden toilet.


BusinessToday.in
New Delhi, August 10, 2018
Ruchit Jain, Technical Analyst, Angel Broking, takes viewers through all the market action today. The BSE Sensex tumbled over 155 points today to close below the 38,000-mark as investors booked profits amid lacklustre global cues. SBI was the biggest loser in the Sensex pack, diving 3.79 per cent, after the lender reported a hefty loss of Rs 4,876 crore for the June quarter.


BusinessToday.In
August 10, 2018
The stock closed at 316.45 level yesterday. Gross non-performing assets (NPAs) fell to Rs 2,12,840 crore in the June quarter this year compared to Rs 2,23,427 crore in the March quarter of last fiscal.


BusinessToday.In
New Delhi, August 10, 2018
The State Bank of India reported a loss of Rs 4,876 crore in the June quarter on account of lower trading income and significant mark-to-market losses due to hardening of bond yields, as well as rising provisions.


BusinessToday.In
New Delhi, August 9, 2018
Sameet Chavan, Chief Analyst, Technical and Derivative, Angel Broking, takes viewers through all the market action today. The Sensex rose 137 points to close above the 38,000-mark for the first time, while the broader Nifty too ended at a fresh lifetime high on unabated buying by participants.


BusinessToday.In
New Delhi, August 9, 2018
IMF sees Indian economy as an elephant that is starting to run; SBI launches a unified payment terminal MOPAD; Swedish furniture maker IKEA opens its first store in India; and Google CEO Sundar Pichai questioned by US senators over reported Chinese search engine. Watch more in this episode of Business Wrap.


BusinessToday.In
August 9, 2018
The Sensex rose 137 points to close above the 38,000-mark for the first time, while the broader Nifty too ended at a fresh lifetime high on unabated buying by participants.While, the Sensex closed at 38,024.37, breaking its previous record close of 37,887 reached yesterday, Nifty rose 20 points to close at 11,470-- surpassing its previous high of 11,450 level.ICICI Bank was the top Sensex gainer, surging 4.64 per cent, followed by Axis Bank at 3.86 per cent and SBI 2.53 per cent.The index has taken 11 sessions to scale the 38,000 mark from 37,000 level reached on July 26.Banking stocks led the rally with the BSE bankex rising 415 points or 1.32% to 32,003 level. Bank Nifty too rose 0.92% to 28,320 level. Bharti Airtel (4.64%), ONGC (1.75%) and Kotak Mahindra Bank (0.98%) were the top Sensex losers. On a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 568.63 crore, while domestic institutional investors (DIIs) bought equities to the tune of Rs 30.25 crore yesterday, provisional data showed.


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