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BusinessToday.in
New Delhi, August 14, 2018
Ruchit Jain, Technical Analyst, Angel Broking, takes viewers through all the market action today. The Sensex recovered by 207 points to 37,852, taking comfort from positive inflation numbers coupled with emergence of buying by domestic institutional investors. The Nifty too rose 80 points to close at 11,435. Besides strengthening rupee, encouraging earnings by some blue-chip firms including Tata Steel and Sun Pharma also helped in building positive sentiments, brokers said.


BusinessToday.In
August 14, 2018
The Sensex recovered by 207 points to 37,852, taking comfort from positive inflation numbers coupled with emergence of buying by domestic institutional investors.The Nifty too rose 80 points to close at 11,435. Besides strengthening rupee, encouraging earnings by some blue-chip firms including Tata Steel and Sun Pharma also helped in building positive sentiments, brokers said.The Sensex had lost 379.47 points in the previous two sessions.Sun Pharma (6.91%), YES Bank (2.87%) and ICICI Bank (2.17%) were the top Sensex gainers. The Sun Pharma stock rose after the firm reported a consolidated net profit of Rs 982.51 crore for the quarter ended June 30, 2018 compared with net loss of Rs 424.92 crore for the corresponding period of 2017-18.Tata Steel stock also gained in the Sensex list, surging 1.70 per cent after the company said its consolidated net profit jumped more than two-folds to Rs 1,933 crore in the April-June quarter of 2018-19 compared to Rs 921 crore during the same period a year ago.Meanwhile, the rupee closed at 69.90 level against the dollar compared with Monday's close of 69.93.Intra day, the currency fell past the key 70 level to hit a fresh all time low of 70.08. Market breadth was marginally negative with 1302 stocks closing higher compared with 1390 ending in the red on BSE.


BusinessToday.In
August 14, 2018
At 9:36 am, the stock was trading 1.59% higher at 578 level on the BSE. The stock rose 3.13% to hit an intra day high of 587 level.  The stock has gained after two days of consecutive fall and opened with a gain of 2.60% at 584 level. 


PTI
August 10, 2018
The appellate tribunal also rejected the claims of engineering and construction major L&T, an operational creditor of Bhushan Steel Ltd, opposing Tata Steel's resolution plan seeking a higher priority in debt resettlement.


BusinessToday.In
New Delhi, August 9, 2018
Singhal has been sent to judicial custody till August 14. The SFIO has found that former promoters of BSL used multitude of complex, fraudulent manoeuvres to siphon off funds amounting to thousands of crores raised by then management of BSL.


PTI
New Delhi, August 8, 2018
Bhushan Power and Steel owes about Rs 45,000 crore to its lenders and it was among the 12 non-performing accounts referred by the Reserve Bank of India for insolvency proceedings in June last year.


BusinessToday.In
New Delhi, August 8, 2018
PNB posts Rs 940 crore Q1 loss amid decline in NPAsScam-hit Punjab National Bank (PNB) reported a loss of Rs 940 crore for the June quarter of financial year 2018-19. The public sector lender had posted a net profit of Rs 343.40 crore in the same quarter of last fiscal. This is the second consecutive quarterly loss for the second biggest state-run lender. The scam-hit bank had recorded biggest ever quarterly loss of Rs 13,417 crore for the January-March period on the back of Nirav Modi-Mehul Choksi fraud. Total income of the bank rose to Rs 15,072 crore from Rs 14,468.14 crore in the year-ago period. Govt hikes import duty on 328 textile items to boost domestic productionIn yet another move to boost domestic manufacturing, the government on Tuesday doubled import duty on as many as 328 textile products to 20 per cent. The government expects that the increase in duties would give an edge to domestic manufacturers as imported products are currently cheaper. And increase in manufacturing activity will help create jobs in the sector, which employs about 10.5 crore people.Last month, the government had doubled import duty on over 50 textile products - including jackets, suits and carpets - to 20 per cent, a move that was aimed at promoting domestic manufacturing.Civil Aviation Ministry plans Rs 11,000-crore bailout package for Air IndiaThe Civil Aviation Ministry is in discussions with the Finance Ministry for a Rs 11,000 crore bailout package for ailing Air India, sources said. The discussions come against the backdrop of a failed effort to privatise the loss-making airline, which continues to grapple with financial woes. Sources in the know said that the Civil Aviation Ministry is working on a bailout package for the carrier, which would be utilised to reduce high cost working capital loans.Parliamentary panel asks RBI to restore letters of undertaking at the earliestThe Parliamentary Standing Committee on Commerce asked the apex bank to restore LoUs at the earliest with \"proper safeguards\" so as to increase the availability of credit for traders. The report further claimed that the ban resulted in a jump in the cost of credit by 2-2.5 per cent. Previously, these instruments were largely issued by domestic branches of Indian banks for customers to avail trade credit from foreign branches of other Indian banks and, thus, ease the high cost of imports.The panel pointed out that the increased cost of financing would only hurt the cost-competitiveness of country's trade and industry, and have a cascading effect on jobs. And the loss of jobs is something the country can ill-afford. Indian banks lose Rs 70,000 crore due to frauds in last 3 financial yearsIndian banks reported a total loss of about Rs 70,000 crore due to frauds during the last three fiscals up to March 2018, the Rajya Sabha was informed today. The extent of loss in fraud cases reported by scheduled commercial banks (SCBs) for 2015-16, 2016-17 and 2017-18 was Rs 16,409 crore, Rs 16,652 crore and Rs 36,694 crore, respectively, Minister of State for Finance Shiv Pratap Shukla said in a written reply quoting RBI data.The minister said that data of frauds is as per the year of reporting and not the year of occurrence of fraud or sanction of loan, letter of undertaking, which may might be of an earlier period.17 lakh Maharashtra govt employees start 3-day strike for salary hikeAround 17 lakh employees of the Maharashtra government began their three-day strike on Tuesday to press for various demands, including implementation of the Seventh Pay Commission report. Essential services in various departments, including government hospitals, are likely to be affected as class 3 and 4 government employees have joined the strike, Maharashtra Rajya Sarkari Karmachari Madhyavarti Sanghatna general secretary Avinash Daund claimed. The government employees are yet to receive arrears accrued to them since the implementation of the Sixth Pay Commission by the state government.NCLAT extends deadline for submission of revised bids for Bhushan Power & Steel The prolonged battle for the debt-ridden Bhushan Power and Steel has just gotten stretched out even more. The National Company Law Appellate Tribunal extended the deadline for revised bid submission by yet another week, so things are unlikely to wrap up anytime soon. The Tribunal pushed back the deadline to August 13 on the plea of Tata Steel, which had been declared the highest bidder in July - for the second time.


BusinessToday.In
August 8, 2018
Cyrus Mistry, the ousted Tata Sons chairman, may have lost the boardroom battle against the conglomerate at NCLT last month, but he will certainly be hoping for better luck with the National Company Law Appellate Tribunal (NCLAT).


BusinessToday.In
August 7, 2018
The market closed flat as investors turned cautious amid escalating global trade war concerns.The 30-share index rose 184.98 points, or 0.49 per cent, to hit a new peak of 37,876 in early trade. Market sentiment, however, turned cautious and the index pared gains to close 26 points lower at 37,665 level. The gauge had gained 526.73 points in the previous two sessions.The Nifty ended merely 2 points higher at 11,389 points. Earlier in the day, the Nifty too edged higher by 41.85 points, or 0.36 per cent, to scale a new lifetime high of 11,428.Foreign portfolio investors (FPIs) bought shares worth a net of Rs 248.709 crore, while domestic Institutional Investors (DIIs) made purchases worth a net of Rs 218.64 crore yesterday, provisional exchange data showed.Top Sensex gainers were Tata Steel, Asian Paints and NTPC. Adani Ports , SBI and Coal India were the top Sensex losers. The Adani Ports and Special Economic Zone (APSEZ) stock  closed 6.49% lower at 371.95 after the firm reported a 9 per cent decline in consolidated profit due to forex losses for the first quarter ended June 30. The firm posted Rs 697.40 crore net profit in Q1 compared to net profit of Rs 767.52 crore in the April-June quarter of last fiscal, it said. Market breadth was negative with 1255 stocks closing higher compared to 1471 ending in the red.


BusinessToday.In
New Delhi, August 7, 2018
The Tribunal pushed back the deadline to August 13 on the plea of Tata Steel, which had been declared the highest bidder in July - for the second time


Anand Adhikari
New Delhi, August 6, 2018
It has not given bankers the realisations they had hoped for. Now the government has unveiled a new approach even while they are modifying the act.


Dipak Mondal
New Delhi, August 6, 2018
The Insolvency and Bankruptcy Code can lead to huge job losses in the short to medium term as many companies, including some big names, face liquidation.


BusinessToday.In
August 6, 2018
Major gainers include ICICI Bank, SBI, Yes Bank, Vedanta, Tata Steel, Adani Ports, Bharti Airtel, Axis Bank, Tata Motors, Infosys, Coal India, Hero Motocorp, Tata Motors, ONGC, RIL, M&M, Sun Pharma, Bajaj Auto, NTPC, TCS, ITC, L&T and Power Grid, rising up to 2.59 per cent.


BusinessToday.In
New Delhi, July 31, 2018
An increase in use of sanitation equipments is expected to impact the toilet-related products and services market


BusinessToday.In
New Delhi, July 27, 2018
Ruchit Jain, Technical Analyst, Angel Broking, takes viewers through all the market action today. While, the Sensex closed at record high for the 21st time, the Nifty scaled new peaks for the 15th time in 2018 today. ITC (5.24%), Tata Motors (3.56%) and Tata Steel (2.71%) were the top Sensex gainers.


BusinessToday.In
July 27, 2018
The Sensex finally settled at 37,336.85, up 352.21 points, or 0.95 per cent-breaching its previous closing record of 36,984.64 reached yesterday. Nifty closed at a record high of 11,278.35, rising 111.05 points, or 0.99 per cent.


BusinessToday.In
New Delhi, July 25, 2018
A Boston Consulting Group report reveals that economies like US, UK, Singapore, Hong Kong, Germany and Japan have a recovery rate of 80% and a resolution time frame of under one-and-half years. India has posted a sub-par recovery rate of 26.4% and an average resolution time of 4.3 years.


BusinessToday.In
July 25, 2018
The Sensex rose 33 points to close at a fresh lifetime high, riding on gains in metal, energy and banking stocks amid sustained buying by domestic and foreign institutional investors.Covering-up of short positions by participants ahead of July futures and options (F&O) expiry tomorrow also supported the upmove, brokers said.Extending its record run for the third day, the 30-share Sensex touched a new all time high of 36,947  after a bout of choppy trade, surpassing its previous high of 36,902 hit yesterday.But it lost some ground due to profit-booking and settled at a new closing peak of 36,858, up 33.13 points, or 0.09 per cent. The Sensex bettered its previous record of 36,825 touched in yesterday's session.The index has now gained 473.87 points in three sessions.However, the broader 50-issue NSE Nifty slipped from its record closing, shedding 2.30 points or 0.02 per cent to end at 11,132. SBI, Adani Ports and Tata Steel were the top Sensex gainers.NTPC, Axis Bank and PowerGrid were the top Sensex losers. Market breadth was marginally positive with 1374 stocks closing higher compared to 1261 ending in the red on BSE. Foreign portfolio investors who have been supporting the rally, bought shares to the tune of Rs 104.34 crore yesterday, while domestic institutional investors (DIIs) purchased equities worth a net Rs 513.78 crore, as per provisional data from the stock exchanges.


BusinessToday.In
New Delhi, July 25, 2018
Tata Sons, the investment holding company of the $100-billion Tata Group, has approved a Rs 10,161-crore investment plan that focuses on the conglomerate's finance, insurance, defence, realty and retail units - all areas that its chairman is aggressively betting on.


Nevin John
New Delhi, July 23, 2018
The joint venture with German Giant Thyssenkrupp AG in early July was expected to serve as a rescue line for Tata Steel Europe.


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