Category: BUSINESS

Benchmark indices opened on a positive note Wednesday on sustained foreign fund inflow ahead of March derivatives expiry.However, gains were capped as Asian shares fell across the board in line with overnight drop in US stocks. Rising crude oil prices too worried investors.The 30-share Sensex was trading 80.70 points, or 0.21 per cent, higher at 38,444.17. The gauge had gained nearly 1,500 points in the previous seven sessions.Similarly, the NSE Nifty rose 11.35 points, to 11,543.75.Infosys, Vedanta, HCL Tech, L&T, Sun Pharma, Axis Bank and TCS were trading in the…

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Extending its winning streak to the sixth consecutive session, the BSE Sensex gained over 70 points Monday as stocks made further headway powered by unabated foreign fund inflows and narrowing country’s trade deficit amid positive global cues.The 30-share benchmark advanced to hit a high of 38,369.59 as buying activity gathered momentum. However, investors locked in gains pushing the key index into the negative zone to hit a low of 37,952.10 before bouncing back to end 70.75 points, or 0.19 per cent, higher at 38,095.07.Likewise, the 50-stock NSE Nifty finished 35.35…

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The Income Tax Department  has sent notices to about 2,000 property sellers who took Rs. 5 lakh or above in cash while selling their assets between June 2015 and December 2018, a senior official said on Saturday. “To start with, we have sent notices to those property buyers and sellers who paid or received Rs. 5 lakh and above in cash. Once we settle these cases, we will focus on those violators who had paid or received cash below Rs. 5 lakh,” the official told news agency ANI.  In 2015,…

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 Rising for the fifth straight session, the rupee Friday jumped 24 paise to close at 69.10 against the US dollar on sustained foreign fund inflows and heavy buying in domestic equities. Forex traders said the dollar’s weakness against its key rivals overseas and easing crude prices strengthened the market sentiment domestically.At the Interbank Foreign Exchange, the domestic unit opened at 69.28 and advanced to a high of 69.03 during the day. It finally settled at 69.10, a rise of 24 paise against the dollar over its previous close.The rupee on…

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The BSE benchmark Sensex rose over 150 points Thursday led by gains in financial stocks amid unabated foreign fund inflow and positive domestic cues.The 30-share index was trading 141.80 points, or 0.38 per cent, higher at 37,893.97, while the 50-share NSE Nifty climbed 33.75 points, or 0.30 per cent, to 11,375.45.In the previous session, the 30-share BSE index ended 216.51 points, or 0.58 per cent, higher at 37,752.17. The broader NSE Nifty closed with gains of 40.50 points, or 0.36 per cent, at 11,341.70.Top gainers in early trade include Yes…

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The Civil Aviation Ministry will hold a meeting with airlines at 4 pm on Wednesday to prepare a contingency plan as a number of flights have been cancelled following the grounding of Boeing 737 Max 8 aircraft, a senior government official said.On Tuesday night, the Directorate General of Civil Aviation (DGCA) announced its decision to “immediately” ground the Boeing 737 Max 8 aircraft that are currently being used by airline companies in India.”We will ground all 737 Max 8 aircraft, which are currently in use by Indian airlines, by 4…

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The BSE benchmark Sensex Tuesday jumped over 300 points led by gains in metal, oil and gas, banking and energy stocks amid unabated buying by foreign investors and strong global cues.Key indices extended the pre-election rally on expectations that the incumbent NDA government will get a second term following the announcement of 2019 general election dates earlier this week, experts said.BSE Sensex was trading 346.60 points, or 0.94 per cent, higher at 37,400.70. Similarly, the 50-share NSE Nifty climbed 86.65 points, or 0.78 per cent, to 11,254.70.The 30-share index ended…

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The Enforcement Directorate has filed a fresh charge sheet against PNB scam accused Nirav Modi under the anti-money laundering law, officials said Monday.They said the charge sheet or the prosecution complaint has been filed before a special Prevention of Money Laundering Act (PMLA) court in Mumbai.This is a supplementary charge sheet against the diamantaire and few others and the agency has recorded additional evidences gathered in the case and attachments made, they said.Further details about the contents of the chargesheet are awaited.The development comes two days after a British daily…

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The Centre has cancelled the sixth and seventh rounds of coal mines auction under which it was planning to put on sale 19 blocks.The coal ministry in a notice to the bidders said that “the 6th Tranche and 7th Tranche of auction stands cancelled.” However, the government did not specify the reasons for the cancellation.”Accordingly, the tender process of the coal mines…stands cancelled,” the ministry said.Under the sixth round, the government had earlier announced the auction of 13 blocks for the regulated sectors, including iron and steel, cement and aluminium.The mines…

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The United Kingdom’s home secretary has recently referred India’s request for extraditing PNB scam accused Nirav Modi to a court for initiating legal proceedings against the diamantaire, the Enforcement Directorate said Saturday. “Request for extradition of Nirav Modi to India was sent in July 2018 to the UK. The UK Central Authority of Home Office has confirmed that the extradition request has been sent to the Westminster Magistrate Court for the district judge for further proceedings,” the agency said in a statement.A British daily Saturday reported that Nirav Modi, accused…

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