Year: 2018

New Delhi, May 12 (DIN NEWS) Reserve Bank has initiated prompt corrective action against public sector lender Dena Bank in view of high non-performing loans, restricting the bank from giving fresh credit and new hiring. The public sector lender yesterday reported widening of its net loss to Rs 1,225.42 crore in the March quarter on mounting bad loans and higher provisioning to cover them. The net loss stood at Rs 575.26 crore in the January-March quarter of 2016-17. Sequentially, the loss widened from Rs 380.07 crore in December quarter of 2017-18.…

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Share prices of Bharti Airtel and Idea Cellular fell sharply today after Reliance Jio Infocomm unveiled a new post-paid plan. Jio, the telecom arm of Reliance Industries, introduced an unlimited domestic post-paid plan for Rs. 199 and international calling starting at 50 paise per minute, starting 15 May. Under the Jio’s post-paid offering all services such as voice, internet, SMS, international calling will be pre-activated. Shares of Idea fell as much as 12.9 per cent to Rs. 50.80 at day’s low while Bharti Airtel declined around 7.5 per cent. Reliance Jio’s entry into the telecoms sector…

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The Sensex and Nifty closed at three-month highs on Friday, one day ahead of polling in Karnataka assembly elections. The BSE benchmark index rose 289 points to close at 35,535 while the NSE Nifty settled at 10,806, up 89 points. Advances were led by strong buying seen in banking, metal, energy and capital goods shares, with the NSE sectoral sub-indices rising more than 1 per cent each. Domestic shares took positive cues from shares in other Asian markets, where equities tracked an overnight rally in the US. MSCI’s broadest index…

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