Category: BUSINESS

 The benchmark Sensex advanced by over 200 points to reclaim the 36,000-mark in early trade today led by gains on IT, realty and capital goods counters, ahead of key quarterly results scheduled later in the day. The 30-share index rose for the third straight day by gaining 203.87 points, or 0.57 per cent, at 36,138.59 in early trade. IT, realty, capital goods, oil and gas, metal, tech, auto, PSU, power and banking stocks led the upward movement, by rising up to 1.16 per cent. The gauge had gained 360.17 points…

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Bengaluru, July 9 (DIN NEWS) Coming to the rescue of mango farmers in distress in the state, Karnataka government today announced a support price of Rs 2.50 per kg. The announcement comes on a day when Srinivasapura, a major mango growing region in Kolar district observed bandh demanding that government come to the rescue of mango farmers as prices have seen a steep fall. “We are doing the market intervention to support our farmers, the state government has decided to announce the support price of Rs 2.50 per kg. We…

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Kolkata, Jul 9 (DIN NEWS) Union Coal Minister Piyush Goyal has asked Coal India to focus on meeting coal demand, particularly from the power sector, in a review meeting held here today. Owing to a sharp rise in coal demand from the power sector, Coal India was finding it difficult to meet the demand despite steady rise in supply to the sector. Sources said that in the meeting, Goyal called for better coordination between Coal India and Railways to ramp up supplies. He also asked Coal India to plan for…

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New Delhi, Jul 8 (DIN NEWS) The Narendra Modi government needs to shed its “obsession” with economic growth and take a broader view of what development is about, argues noted economist Jean Dreze. Author of a number of books on development and policies in India, he also feels that the Centre is “abdicating” its responsibilities in many sectors and handing them over to the corporate, or to the state governments. In an interview to PTI, he was asked about the impact of the NDA government’s policies on social and economic…

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New Delhi, Jul 8 (DIN NEWS) Dues from big wilful defaulters of Punjab National Bank fell by 0.87 per cent to Rs 15,354.52 crore on June 30 compared to previous month, the bank data has showed. The data on big wilful defaulters is pertaining to those borrowers who took loan of Rs 25 lakh and above from the public sector lender. Such borrowers had an outstanding of Rs 15,490 crore at the end of May 2018. For financial year ended March 2018, the bank’s balance sheet had closed with big…

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Kolkata, Jul 7 (DIN NEWS) Union Minister for Commerce and Civil Aviation Suresh Prabhu today said his ministry will work closely with the government of West Bengal, which has a “great potential” to become an economic hub in future. “We want the state to achieve progress. We will work together to ensure that,” Prabhu said at an Indian Chamber of Commerce meet here. The minister said the Central government was working towards ease of doing business across the country. “Modernisation of existing business is the key element of the new…

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New Delhi, Jul 6 (DIN NEWS) Markets regulator Sebi has reorganised the committee that advises it on matters pertaining to further development of the alternative investment and startup ecosystem in the country. The Alternative Investment Policy Advisory Committee is chaired by Infosys Founder N R Narayana Murthy, as per the latest update with the markets watchdog. The regulator had constituted the committee in March 2015 with the mandate to prepare a new regulatory framework for alternative investments. So far, the panel has submitted three reports to Sebi. It had submitted…

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Mumbai, Jul 6 (DIN NEWS) The Sensex rebounded over 83 points to close at 35,657.86 in volatile trade today, led by gains in auto, realty, capital goods and energy stocks. Markets benefited from bargain-hunting in recently battered stocks amid mixed global cues, brokers said. Asian markets ended higher even as investors monitored developments on the trade front in the aftermath of tit-for-tat tariffs by the US and China. The 30-share Sensex, after a negative opening, slipped to the day’s low of 35,532.21, but staged a strong comeback in the later…

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New Delhi, Jul 5 (DIN NEWS) Air India today replaced the commander of its Delhi-Colombo flight as he failed to get clearance from the police after being caught in an alleged sex trade case, according to an airline official. The official said the senior pilot was among those who were arrested on Wednesday from a spa centre in Gurgaon, Haryana for suspected flesh trade. An Air India spokesperson said the pilot was replaced and not allowed to operate the flight to Colombo, adding that the action was taken as “police…

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New Delhi, Jul 5 (DIN NEWS) Market regulator Sebi today exempted a private family trust related to the promoter group of Batliboi Ltd from the obligation of making an open offer following its proposed acquisition of additional 49.55 per cent stake in the firm. Bhogilal Family Trust had sought exemption from the obligation of making open offer post acquisition of certain number of shares in Batliboi Ltd. Under the proposed acquisition, the trust would be acquiring 49.55 per cent equity shares of Batliboi Ltd from the company’s promoter Nirmal Bhogilal,…

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