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Cabinet approves promulgation of IBC (Amendment) ordinance 2019

New Delhi, Dec 24 (ANI): The Union Cabinet approved a proposal to promulgate an ordinance to amend the Insolvency and Bankruptcy Code (IBC) 2016 on December 24. While addressing a press conference in the national capital, the Union Information and Broadcasting Minister Prakash Javadekar said, "Modi government started Insolvency and Bankruptcy Code (IBC) to resolve the commercial disputes in an easy way and to ensure the early recovery of bank loans and government dues." "Foreign Direct Investment (FDI) will be encouraged to come and participate and our country's own investors will be benefitted with this." he added. "After that it will go to President for his approval and laterwards this ordinance will come into force," I-B minister further stated. The amendments will remove certain ambiguities in the IBC 2016 and ensure smooth implementation of the code, an official statement said. The move is aimed at easing the insolvency resolution process and promoting the ease of doing business.

Equity indices close flat after choppy session, Reliance falls by 1.7 pc

New Delhi, Dec 23 (ANI): Equity benchmark indices saw a sharp fall in the afternoon session on Monday and closed flat in line with Asian peers. The BSE S-P Sensex closed 39 points lower at 41,643 while the Nifty 50 lost by 6 points at 12,266. At the National Stock Exchange, sectoral indices were mixed with Nifty PSU bank falling by 1.3 per cent. Among stocks, index heavyweight Reliance Industries lost by 1.76 per cent at Rs 1,570.95 per share. Yes Bank was down by 3.8 per cent, Nestle India by 2.4 per cent, State Bank of India by 1.6 per cent and Coal India by 1.5 per cent.

Equity indices volatile, metal stocks lead in opening session

New Delhi, Dec 23 (ANI): Equity benchmark indices see-sawed between gains and losses during early hours on December 23. Asian markets were flat due to weak volumes ahead of the Christmas holiday break. At 10:15 am, the BSE S-P Sensex was down by 38 points to 41,643 while the Nifty 50 was up by 3 points at 12,277. Most sectoral indices at the National Stock Exchange were in the green except for Nifty PSU bank. Nifty metal and media gained by 0.7 per cent each. Among stocks, index heavyweight Reliance Industries slipped by 2.08 per cent to trade at Rs 1,565.80 per share. The others in negative zone included Coal India, Nestle India, HDFC Bank and Adani Ports.

Nirmala Sitharaman chairs GST council meeting

New Delhi, Dec 18 (ANI): Union Finance Minister Nirmala Sitharaman chaired Goods and Services Tax (GST) council meeting in New Delhi on December 18. Minister of State for Finance and Corporate Affairs Anurag Thakur and Revenue Secretary Ajay Bhushan Pandey also took part in the meeting.

GST should not be imposed on agricultural inputs, demands BKS in Pre-Budget consultations meet

New Delhi, Dec 17 (ANI): The Union Minister of Finance and Corporate Affairs Nirmala Sitharaman held fourth Pre-Budget consultations with different stakeholder groups from agriculture and agro processing sectors in connection with the forthcoming General Budget 2020-21 on December 17. Bharatiya Kisan Sangh's (BKS) Organising Secretary, Dinesh Kulkarni has put their demands in the meeting. He said, "GST should not be imposed on agricultural inputs, cotton and other products. It should be removed from the markets because neither it is benefitting the farmers nor the customers." The main areas of discussion during the meeting included agricultural marketing reforms, organic and Natural farming, Agricultural Commodity Markets and future trading, storage infrastructure for agricultural produce, animal husbandry, Agro processing industry among others.

Sensex rallies by 413 points to scale new high, Nifty closes at 12,165

New Delhi, Dec 17 (ANI): Equity benchmark indices touched fresh highs on Tuesday following gains in Asian and US markets with investors setting aside poor macro-economic indicators on the domestic front for a while. A temporary deal between the United States and China buoyed market sentiment. Foreign institutional investors (FIIs) also started pouring money into Indian equities after the air over Brexit cleared. The BSE S-P Sensex closed 413 points or 1 per cent higher at 41,352 while the Nifty 50 moved up by 111 points at 12,165. All sectoral indices at the National Stock Exchange were in the green except for Nifty pharma and realty. Nifty metal climbed by 2.8 per cent while Nifty IT closed 1.8 per cent higher from its previous close. Among stocks, metals witnessed dramatic intra-day profits with Tata Steel gaining by 4.64 per cent at Rs 440.55 per cent, Vedanta and Hindalco moving up by 3.3 per cent each while JSW Steel ticked up by 1.9 per cent. Bharti Airtel was up by 4.5 per cent

Equity indices volatile, IT stocks gain in opening session

New Delhi, Dec 16 (ANI): Equity benchmark indices oscillated in a range but were largely flat during early hours on December 16 while Asian market remained buoyed by the progress in US-China trade talks and on the Brexit front. At 10:15 am, the BSE S-P Sensex was up by 33 points to 41,043 while the Nifty 50 gained by 6 points at 12,093. Except for Nifty IT, pharma and realty, all sectoral indices at the National Stock Exchange were in the negative zone. Among stocks, those which lost were Adani Ports, Sun Pharma, IndianOil Corporation, JSW Steel and Yes Bank. However, IT stocks were up with HCL Technologies gaining by 1.4 per cent to Rs 550.80 per share. Tech Mahindra ticked up by 1.2 per cent and Tata Consultancy Services by 0.9 per cent.

Sensex reclaims 41,000-mark on upbeat global sentiment, banking and metal stocks jump

New Delhi, Dec 13 (ANI): Equity benchmark indices closed nearly one per cent higher on Friday amid fresh hopes of a trade deal between the United States and China along with a decisive victory of Boris Johnson-led Conservative Party in Britain's elections. The BSE S-P Sensex surged ahead by 428 points at 41,010 while the Nifty 50 ticked up by 115 points at 12,087. All sectoral indices at the National Stock Exchange (NSE) were in the positive terrain except for Nifty pharma, which dropped by 0.1 per cent. But Nifty PSU bank was up by 4.08 per cent, metal by 2.33 per cent and auto by 1.72 per cent. A decisive victory of Britain's Conservative Party strengthens the prospects of a smooth Brexit, ending the three and-a-half years of political instability in Britain. Banking stocks gained the most amid reports that lenders are likely to get payments from Essar Steel resolution this month. Axis Bank climbed up by 4.1 per cent to Rs 752.25 per share while State Bank of India gained by 3.5 per

Equity indices edge higher, Yes Bank in focus

New Delhi, Dec 11 (ANI): Equity benchmark indices edged higher during early hours on Wednesday with most sectoral parameters in the green. At 10:15 am, the BSE S-P Sensex was up by 170 points to 40,410 while the Nifty 50 ticked up by 48 points at 11,904. Except for Nifty auto, pharma and PSU bank, all sectoral indices were in the positive zone with marginal gains. Among stocks, IT majors showed some gains with Tata Consultancy Services up by 1.5 per cent at Rs 2,043 per share. Tech Mahindra added gain of 1.3 per cent while Infosys moved up by 0.7 per cent. The other prominent winners were Bharti Infratel, GAIL, ICICI Bank, ITC and Coal India.

Rising petrol prices leave consumer disappointed

New Delhi, Dec 11 (ANI): Petrol prices shot up in Delhi. It raised upto Rs 75 per liter. Consumers showed their concern as fuel prices are rising steadily in the national capital. Petrol prices were hiked by five paise and diesel by 10-11 paise on December 09. Diesel price is upto Rs 66.04 per litre.

Sensex, Nifty show marginal gains

New Delhi, Dec 09 (ANI): Equity benchmark indices ended on December 09 with marginal gains after a volatile session on December 06 while heavy buying was witnessed in metal, auto energy and infra stocks. The BSE SandP Sensex closed 42 points higher at 40,487 while the Nifty 50 was up by 15 points at 11,937. Sectoral indices at the National Stock Exchange (NSE) were mixed with Nifty auto gaining by 0.8 per cent and metal by 0.5 per cent. Among stock, auto majors Maruti and Mahindra and Mahindra added gains of 1.7 per cent and 0.8 per cent respectively while JSW was up by 1.7 per cent.

Vistara, Lufthansa sign codeshare pact to cement interline agreement

New Delhi, Dec 09 (ANI): Full-service carrier Vistara signed a codeshare agreement with Lufthansa to strengthening their existing interline partnership. The two airlines are planning to soon expand the scope of the agreement, enabling frequent fliers of both airlines to earn miles and points when travelling on each other's networks. As part of the agreement, Lufthansa will add its 'LH' designator code to nearly 18 Vistara-operated flights every day covering 10 Indian cities New Delhi, Ahmedabad, Bengaluru, Chennai, Goa, Hyderabad, Kolkata, Kochi, Mumbai and Pune. Both airlines have an interline and through check-in agreement under which customers can seamlessly connect from Vistara-operated domestic flights in India to Lufthansa-operated flights to both of its hubs in Frankfurt, Munich and beyond. Using the through check-in facility, customers get their boarding passes at the first point of departure for all the travel sectors, both domestic and international, with their baggage checke

Vodafone Idea stock tumbles 5.6 pc to hit lower circuit

New Delhi, Dec 09 (ANI): The share price of telecom major Vodafone Idea fell by 5.64 per cent intraday on Monday after its Chairman Kumar Mangalam Birla said the company may have to stop operations if it does not receive any relief from the government following the Supreme Court order to pay dues of Rs 92,000 crore related to the adjusted gross revenue (AGR) issue. At 11:10 am, the stock was trading at Rs 6.53 per share against the previous close of Rs 7.31. Last month, Vodafone Idea and competitor Bharti Airtel had said that their ability to operate and make profits will depend on relief from the government after the Supreme Court upheld a demand by the Department of Telecommunications that mobile operators pay overdue levies and interest.

Sensex up 84 points in opening deals, Nifty hovers near 12,043

New Delhi, Dec 06 (ANI): Equity benchmark indices opened on a firm note led by infra metal and pharma stocks on Dec 06. At 10:15 AM, the Sensex is up by 84 points to 40,864. While the Nifty 50 inched up by 19 points at 12,043. Around 299 shares have advanced, 107 shares declined, while 19 shares remained unchanged. Top gainers on the indices on Dec 06 were Bharti Infratel, ICICI Bank, RIL HDFC Bank.

Onion price crosses Rs 150/ kg mark in Madurai

Madurai (Tamil Nadu), Dec 05 (ANI): Poor and middle-class citizens are having a tough time in managing their kitchen supplies as the onion prices surpassed Rs 150/kg in Tamil Nadu's Madurai. However, amidst onion crisis in the country, fresh loads of onions are being imported from Turkey. To control the rising prices, the government is importing 11,000 tonnes from Turkey. Onion prices remain high across the major cities of the country.

Non-oil export growth returned to positive territory in October after 2 months: Shaktikanta Das

Mumbai, Dec 05 (ANI): While briefing the media in Mumbai, Reserve Bank of India Governor Shaktikanta Das said, "As regards the external sector, exports contracted in September-October 2019 reflecting the persisting weakness in global trade but non-oil export growth returned to positive territory in October, after a gap of 2 months".

Equity indices trade higher ahead of RBI policy meet outcome

New Delhi, Dec 05 (ANI): Equity benchmark indices were in positive terrain during early hours on Dec 05. Ahead of widely expected interest rate cut by the RBI. The Central Bank is expected to cut rates by 25 basis points later in the day in an effort to reverse the economic slowdown. At 10:15 am, the BSE S-P Sensex was up by 101 points to 40,952 while the Nifty 50 edged higher by 23 points at 12,066. Except for Nifty metal and pharma, all sectoral indices at the National Stock Exchange were in positive zone.

Equity indices flat as Trump hints at delay in trade talks

New Delhi, Dec 04 (ANI): Equity benchmark indices were largely flat during early hours on Wednesday following gloomy global trends after US President Donald Trump said a trade deal with China may have to wait until after the 2020 presidential election. At 10:15 am, the BSE S-P Sensex was up by 90 points to 40,766 while the Nifty 50 edged higher by 20 points at 12,014. Except for Nifty metal which slipped by nearly 1 per cent, all other sectoral indices at the National Stock Exchange were in the green with thin margins.

Stocks see red on negative global cues, metal stocks suffer the most

New Delhi, Dec 03 (ANI): Equity benchmark slipped during early hours due to negative global cues on Dec 03 after US President Donald Trump said that he will reinstate tariffs on the US steel and aluminum imports from Brazil and Argentina. At 10:15 AM, the BSE S and P Sensex was down by 71 points to 40,731. While the Nifty 50 edged lower by 35 points at 12,014. Except for Nifty auto and FMCG, all sectoral indices at the NSE were in the negative terrain with Nifty metal plunging by 1.76 percent.

Prayers suspended for 20 minutes at Hyderabad's Chilkur Balaji Temple over vet's rape-murder case

Hyderabad, Dec 01 (ANI): Chilkur Balaji Temple suspended the entry of devotees for about 20 minutes on November 30 as a gesture to demonstrate against rape and murder of the woman veterinary doctor. All the devotees remained outside the temple with priests and performed 'maha pradakshinam', a prayer for the safety of women and girls. The burnt body of the doctor was found at Shadnagar outskirts in the Telangana's Ranga Reddy district. As per the preliminary probe, the police suspect that the veterinary doctor was sexually assaulted. On Saturday, massive protests were carried out in Telangana, along with several other parts of the country against the brutal rape and murder of a woman veterinary doctor in the state. Four people, identified as Mohammad Areef, Jollu Shiva, Jollu Naveen and Chintakunta Chennakeshavulu have been arrested in the case and sent to 14-day judicial custody by a Ranga Reddy court on November 30.