Govt, LIC to sell stakes in IDBI Bank
The Cabinet Committee on Economic Affairs (CCEA) has approved strategic disinvestment along with transfer of management control in IDBI Bank, paving the way for both the government, and Life Insurance Corporation of India (LIC) to reduce their shareholding in the lender. Read here
Local trains suspended in Bengal, Mamata announces curbs
In an effort to control the raging pandemic in the state, the West Bengal government announced to suspend movement of all local trains till further notice and made Covid negative report mandatory for the passengers coming either by flight or by trains from other states from May 7 midnight. The state government also made a series of announcements to control the movement of people.
Hours after taking the responsibility of the state for the third time in a row, chief minister Mamata Banerjee said, "All local trains to be suspended from tomorrow till further notice and only 50 per cent of the state transport will ply on roads following the increase of Covid cases in the state. Lots of outsiders had come to state in the last three months and now we will have to control it". Read here
Adani Enterprises Q4 net profit up 282%
Adani Enterprises on Wednesday reported 282.2 per cent rise in consolidated net profit at Rs 233.95 crore for the quarter ended March 31, 2021. The company had posted a consolidated net profit attributable to the owners of the company of Rs 61.21 crore in the year-ago period, Adani Enterprises Ltd (AEL) said in a filing to BSE. Read here
SC stays Delhi HC order on contempt proceedings against Centre's officials
The Supreme Court Wednesday stayed contempt proceedings initiated by Delhi High Court against central government officials for non-compliance of the direction to supply 700 MT of medical grade oxygen for COVID-19 patients in the national capital.
The stay, however, will not restrain the high court from monitoring the COVID-19 management related issues, a bench of Justices D Y Chandrachud and M R Shah said. Read here