Sebi exempts Govt from open offer for Union Bank after capital infusion

Sebi exempts Govt from open offer for Union Bank after capital infusion

Saturday, 23 March 2019 | PTI | New Delhi

Markets regulator Sebi on Friday exempted the central Government from making an open offer for the shareholders of Union Bank of India following capital infusion. In February, the Government proposed a capital infusion of Rs 4,112 crore in the public sector lender through preferential allotment of shares. The infusion is to meet...

Rs  slips 12 paise to 68.95 against USD

Saturday, 23 March 2019 | PTI | Mumbai

The rupee on Friday declined by 12 paise to close at 68.95 against the US dollar on rise in demand for the greenback from importers and Sell-off in domestic equities. Besides, strengthening of the greenback against key currencies and rising crude oil prices in the international market also kept the rupee...

Alto best selling PV model in Feb; Maruti makes clean sweep of top six spots

Saturday, 23 March 2019 | PTI | New Delhi

Maruti Suzuki India’s entry level small car Alto was the best selling passenger vehicle model in February, clocking 24,751 units as the company swept the top six spots. According to the latest data by Society of Indian Automobile Manufacturers, Alto had sold 19,941 units in February last year.  Alto overtook...

Tata Power SED bags Rs 1,200 cr contract from Defence Ministry

Saturday, 23 March 2019 | PTI | New Delhi

Tata Power Strategic Engineering Division (SED) has bagged a Rs 1,200 crore contract from the Defence Ministry for supply of ship-borne 3D Air Surveillance Radars. Tata Power SED has signed a deal with the Ministry of Defence to supply 23 ship-borne 3D Air Surveillance Radars to the Indian Navy over the...

Sensex snaps 8-day winning run on profit-booking

Saturday, 23 March 2019 | PTI | mumbai

Snapping its eight-day winning streak, the BSE benchmark Sensex tumbled over 222 points on Friday as investors scrambled to book profits after the recent rally while ratings agency Fitch slashed India’s growth forecast. Lacklustre global cues and a depreciating rupee also weighed on the markets, analysts said. The 30-share index opened on...

Fitch cuts India growth forecast for FY20 to 6.8 pc on weak momentum

Saturday, 23 March 2019 | PTI | new delhi

Fitch Ratings on Friday cut India’s GDP growth forecast for the next fiscal to 6.8% from 7% estimated earlier on weaker than expected economic momentum. In its latest Global Economic Outlook, Fitch also slashed GDP growth forecast for current fiscal ending March 2019 to 6.9% from 7.2% projected in the December...

MPC to meet six times during 2019-20: RBI

MPC to meet six times during 2019-20: RBI

Friday, 22 March 2019 | PTI | Mumbai

The Monetary Policy Committee (MPC), which decides on key interest rates, will meet six times during the next financial year, the Reserve Bank of India (RBI) said Friday. The first meeting of the six-member MPC to decide on the first bi-monthly monetary policy statement for 2019-20 will be held from April...

Jet Airways' lenders may acquire substantial stake in airline till new promoters come

Jet Airways' lenders may acquire substantial stake in airline till new promoters come

Friday, 22 March 2019 | PTI | New Delhi

Lenders of Jet Airways are likely to pick up a substantial stake in the debt-laden airline till a new promoter is roped in, sources said. The process of getting a new promoter on board is likely to take another two to three months and once that happens, the banks would offload...