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Sensex rallies 300 pts, metal stocks rebound

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Snapping its four-day losing streak, the benchmark Sensex recovered over 300 points in early trade on Tuesday after metal stocks witnessed a rebound as concerns over a potential trade war faded, boosting global investor sentiment. Metal stocks surged up to 3.48 per cent, led by gains in Jindal Steel, Vedanta, JSW Steel, Tata Steel, NMDC, Nalco, SAIL, Hindalco and Hindustan Zinc. The 30-share index rose 313.35 points, or 0.92 per cent, to 34,060.13. The gauge had lost 698.97 points in the previous four sessions. All the sectoral indices were trading…

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BUSINESS NEWS CATEGORIES 

PNB fraud: Gitanjali Group’s vice president detained by CBI

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The CBI on Tuesday detained Vipul Chitalia, the vice president of Gitanjali Group of Companies, as a part of its probe into the multi-crore Punjab National Bank (PNB) fraud, an official said. Chitalia was apprehended at Mumbai airport and brought to the Central Bureau of Investigation (CBI) office at the Bandra-Kurla Complex here for questioning, he said, but did not divulge any other details about Chitalia’s alleged role in the PNB fraud. The INR 12,636-crore fraud was allegedly perpetrated by billionaire jeweller Nirav Modi and his uncle Mehul Choksi, the…

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NEWS CATEGORIES WORLD NEWS 

Blast in UK shop that killed Indian-origin family caused by petrol

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An explosion in a Polish mini-supermarket in Leicester that killed five people, including three members of an Indian-origin family, was caused by petrol which was spread throughout the premises, a UK court was told. Zabka mini-supermarket and a flat above were completely destroyed in the blast on the evening of February 25, killing members of the Ragoobeer family who had moved to the UK from Mauritius. Three men charged with arson and manslaughter appeared before Leicester Magistrates Court and were remanded in custody to appear before Leicester Crown Court on…

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NEWS CATEGORIES WORLD NEWS 

Air India allowed by Saudi to use its airspace to fly to Israel: Netanyahu

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Air India has been allowed by Saudi Arabia to fly over its territory on its new route from New Delhi to Tel Aviv, Israeli Prime Minister Benjamin Netanyahu said today, an unprecedented move which would reduce travel time between the two cities by two and a half hours. India’s national carrier Air India is scheduled to begin its direct flight between New Delhi and Tel Aviv in few weeks from now. Interacting with reporters after his meeting with US President Donald Trump at the White House, Netanyahu said that Air…

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NATIONAL NEWS NEWS CATEGORIES 

Rajya Sabha witnesses disruptions over PNB fraud

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Opposition parties stalled proceedings in the Rajya Sabha for the second day today, forcing an adjournment till 11.30 hours over the PNB banking fraud, special package for Andhra Pradesh and constitution of the Cauvery Water Management Board. As soon as the listed papers were laid on the table, TMC members, legislators from Tamil Nadu and Andhra Pradesh rushed into the well of the House shouting slogans. While TMC members raised slogans demanding that the alleged mastermind of the banking fraud Nirav Modi be brought back to the country, the AIADMK…

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LEGAL NEWS NEWS CATEGORIES 

INX Media case: SC to hear Karti’s fresh plea tomorrow

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The Supreme Court will tomorrow hear a fresh plea from Karti Chidambaram, son of former Union minister P Chidambaram, seeking quashing of the Enforcement Directorate’s summons against him in the INX Media case. In his fresh writ petition, Karti Chidambaram has challenged the summons on the ground that the ED has no jurisdiction to issue such notices based on the FIR lodged by the CBI. The plea was mentioned today by his counsel before a bench comprising Chief Justice Dipak Misra and Justices A M Khanwilkar and D Y Chandrachud,…

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ENTERTAINMENT NEWS CATEGORIES 

James Ivory becomes oldest Oscar winner at 89

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James Ivory, screenwriter and co-producer of the drama “Call Me by Your Name” today created history as he became the oldest Oscar winner. Ivory, 89, won the Oscar for adapting Andre Aciman’s 2007 novel of the same name for the Luca Guadagnino-directed film. This is his maiden Oscar win 30 years after his first nomination. Before Ivory, Ennio Morricone was considered the oldest winner in a competitive category. He was 87 when he won the award for original score for “The Hateful Eight” in 2016. Wearing a shirt emblazoned with…

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ENTERTAINMENT NEWS CATEGORIES 

Shashi Kapoor, Sridevi remembered at Oscars

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Indian stars Shashi Kapoor and Sridevi, who passed away recently, featured in the In Memoriam section at the 90th Academy Awards today. The In Memoriam segment of the Oscars pays tribute to artistes who have passed this year. Shashi Kapoor, besides his Bollywood superstar persona, was an active figure in international cinema working in films such as “The Householder”, “Shakespeare Wallah”, “The Guru”, “Bombay Talkie” and “In Custody”. Sridevi, a pan Indian star, died on February 24 in Dubai suddenly, leaving fans and family shocked. She was 54. Others who…

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BUSINESS NEWS CATEGORIES 

Gold futures gain 0.14% on global cues

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Gold prices moved up by 0.14 per cent to Rs 30,492 per 10 grams in futures trade today as speculators raised bets amid a firm trend overseas. At the Multi Commodity Exchange, gold for delivery in April rose by Rs 44, or 0.14 per cent, to Rs 30,492 per ten grams in business turnover of 292 lots. Likewise, the metal for delivery in June contracts was trading higher by Rs 36, or 0.12 per cent, to Rs 30,585 per ten grams in 14 lots. Analysts said widening of positions by…

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BUSINESS NEWS CATEGORIES 

Gitanjali Gems falls 5 pc to hit 52-week low

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Shares of Gitanjali Gems cracked another 5 per cent in morning trade on the bourses today after the CBI made four arrests in connection with the alleged Rs 12,636-crore fraud at Punjab National Bank (PNB) perpetrated by billionaire jewellers Nirav Modi and his uncle Mehul Choksi. The agency has also arrested two employees and an auditor of the Nirav Modi group of companies, while a director of the Gitanjali group of companies (owned by Choksi) has also been taken into custody. Reacting to the development, shares of Gitanjali Gems slumped…

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