Globally, in the Asian region, Japan's Nikkei rose 1.33 per cent, while markets in Hong Kong and China remained shut on Monday on account of a public holiday. The US Dow Jones Industrial Average ended 0.08 per cent higher on Friday.
Focus was on economic indicators due this week, such as Wednesday's euro zone purchasing managers' index and Friday's German gross domestic product numbers, and whether they could propel the euro higher again.
The overall employment in the eight sectors had seen an addition of 77,000 workers in April-June 2016 and an increase of 1.85 lakh workers in January-March 2017.
The Richard Branson-led Virgin Group on Sunday signed a framework agreement with Maharashtra to build a hyperloop transportation system between Mumbai and Pune during the Magnetic Maharashtra investor summit.
According to official documents, the Department of Geology & Mining has established presence of 102.7 million cubic metres of granite reserves in Manjigund, Shilkchay, Channingund, Bhimbat and Kharbu areas of Kargil district.
Sebi has already launched a probe into trading and disclosure related issues in the matter of Punjab National Bank (PNB) and Gitanjali Gems in connection with the biggest fraud in the Indian banking industry so far allegedly perpetrated by Nirav Modi
Exports should account for 6-7 per cent of India's total steel production in the next few years, up from the 1.5 per cent at present, Union Steel Minister Chaudhary Birender Singh had earlier said.
The RBI has denied reports that it has directed PNB to meet its commitments under the Letter of Undertaking (LOU) to other banks.
Even as LIC’s gains in value of portfolio is mostly on account of rise in markets (as its overall holding percentage has come down), in the quarter ended December 2017 LIC held more than 1 per cent stake in 327 companie
Committee on GST returns simplification to submit report by end of the month
To address the problem, "I think four 'Rs' are the answers. They are Recognition, Resolution, Recapitalisation and Reforms," he said at the Annual Convention 2018 of Madras Management Association, in Chennai. "Recognition" is identifying the stressed assets and non-performing assets in banks," he said.
PNB fraud case: Gokulnath Shetty and Manoj Kharat apart from Hemand Bhat will be produced before a CBI Special court in Mumbai today.
The affordable housing segment is clearly on an uptrend. Growth in supply has been estimated to be 15 per cent in terms of launches in the last three months, as compared with the previous quarter.
While the largest Indian airline IndiGo reported a passenger load factor of 89.7 per cent, the second largest carrier Jet Airways saw a load factor of 88.7 per cent, followed by Tata-Singapore Airlines joint-venture Vistara at 87 per cent and flag-carrier Air India at 84.6 per cent.
New business performance by the corporation for nine months ended December 2017 has shown an impressive growth of 19.47 per cent with its first year premium netting Rs 99,783.33 crore.
As per Economic Survey for 2017-18, a total of 1.45 lakh appeals were pending with the Commissioner (Appeals), Customs, Excise and Service Tax Appellate Tribunal (CESTAT), High Courts and the Supreme Court together, that were valued by the Department at Rs 2.62 lakh crore As of the quarter ending March 2017.
Britain’s exit from the European Union (EU) is a big loss for the latter’s pharmaceutical regulatory structure and member-countries have been asked to step up their competence and expertise to cope with Britain’s departur
On Monday, the price regulator refused to provide separate sub-category and higher ceiling price for latest-generation biodegradable stents, as requested by multinational medical device companies.
According to banking sources, the bank may end up providing for the full amount in its books but a clear picture will emerge only when investigations are complete and the bank and the RBI scrutinise the details of the fraud.
Punjab National Bank (PNB) has lost market capitalisation worth Rs 8,731 crore after shares of the company slumped for the third straight session following the detection of a Rs 11,400-crore fraud.
On Wednesday, state-owned PNB admitted that it had detected fraudulent transactions worth over Rs 11,000 crore jewellery czar Nirav Modi.
Significantly, GSEC Aviation is owned by Rakesh Ramanlal Shah, who is married to Prity, the sister of the USD 11-billion Adani Group chairman Gautam Adani.
The rupee took a further knock against the pound sterling and finished at 90.34 per pound from 89.79. It also dropped sharply against the Japanese yen to close at 60.50 per 100 yens from 59.95.
State-owned Punjab National Bank on February 14 said it has detected Rs 11,400 crore scam where billionaire jeweller Nirav Modi allegedly acquired fraudulent letters of undertaking to secure overseas credit.
The stock fell for the third straight session to hit 52-week low on both BSE and NSE. On BSE, the stock fell 19.94 per cent to a low of Rs 37.55. On NSE, the stock cracked 19.98 per cent to trade at Rs 37.45.
Union Bank of India shares dropped 2.37 per cent to Rs 117.25 while the PNB stock fell over 3 per cent to Rs124.45 on BSE. Yesterday, fraud-hit PNB said it will honour its bonafide commitments and entire liability will be known after the investigation.
Small bouts of profit-booking was seen in most counters led by auto, banking, metals, oil & gas and financial sector stocks.
Terms under discussion were not immediately available, but Flipkart would be valued at more than the $12 billion figure given when Japan's SoftBank Group Corp's Vision Fund took roughly a fifth of the firm last year for $2.5 billion, they added.
The IMF noted that India is returning to the path of gradual fiscal consolidation. Last month, the IMF in its World Economic Outlook update released in Davos, Switzerland, projected a 7.4 per cent GDP growth for India in 2018 and 7.8 per cent in 2019.
PNB fraud: Official figures show that PNB had reported a net profit of Rs 1,324 crore in 2016-17, compared with a loss of Rs 4,223 crore in 2015-16.
ONGC has off-shore operations in the western region of Mumbai and the eastern section of Rajahmundry in Andhra Pradesh. It has to rely on the aircraft provided by chopper companies to provide medical aid.
According to Sebi, the public issue banker would need to pay an interest amount of 15 per cent to the investors for failing to resolve the grievance within 15 days.
The last time the yield witnessed a larger upswing was on February 1, when it rose 18 bps on the day of the presentation the Budget.
At least three bankers, who look into LOU operations, said it could have started with a much smaller sum few years ago and ballooned into a huge amount as a result of large borrowings in the recent past.
AERA has objected to imposing UDF on travellers prior to the construction of the metro. A new way will have to be found to finance the BIAL component in the project, say sources.
Punjab National Bank fraud: This is the second consecutive day of decline for the stock. It had slumped 10 per cent on Wednesday.