BUSINESS
PM Modi stresses on lesser govt intervention in business
Modi said that with its view of ease of doing business, the government has been stressing on self-regulation, self-attesting and self-certification. Stressing that both government policies and strategy are clear in terms of the manufacturing sector, he said that its motto is minimum government and maximum governance.
Sensex down 400 points, Nifty below 15,000
Selling pressure was witnessed in banking, finance and metal stocks, while buying took place in oil and gas and energy stocks. The top gainers on the Sensex were ONGC, NTPC and Maruti Suzuki India while IndusInd Bank, ICICI Bank and State Bank of India were the major losers.
Petrol at Rs 75 and diesel Rs 68 a litre in FY22 if taxation shifts to GST: SBI Ecowrap
Under this model, the economists said that uniformity of taxes is ensured across the country while it also brings down the burden of taxes on the common man by almost Rs 10-30 depending on the product consumed and the state in which it is consumed.
Oil prices surge as OPEC+ extends most output cuts
OPEC+ approved the continuation of current production levels for April, except that Russia and Kazakhstan will be allowed to increase production by 130,000 and 20,000 barrels per day, respectively, the group said in a statement on Thursday.
Wipro to buy UK firm Capco for $1.45 billion
Global software major Wipro said on Thursday that it has signed an agreement to acquire the UK-based management and technology firm Capco for $1.45 billion (Rs 10,551 crore) to provide digital, Cloud and IT services to financial institutions in the US, Europe and Asia-Pacific.
ArcelorMittal commits Rs 50K cr investment in Odisha
The existing MoU in Odisha, which was signed in the presence of Chief Minister Naveen Patnaik and steel tycoon Lakshmi N. Mittal in Bhubaneshwar, has given a leg up to the bullish plan of the company to have both greenfield and brownfield steel operations in India.
PSBs' bad loan formation to moderate going forward: Morgan Stanley
"Over the past few years, SOE banks have seen significant capital infusion by the government, lower RWA (risk-weighted assets) density, higher provisioning and some large recoveries. GNPL coverage ratio for SOE banks (excluding SBI) under our coverage has improved to 67 per cent and is 55 per cent on overall impaired loans," it said.
Noida gets Addverb's Rs 75 cr robot-making facility
The facility called "Bot Valley" has a capacity to manufacture more than 50,000 robots of varied types in a year, and is equipped with best-in-class electronics and mechanical machines, the company said in a statement on Thursday.
ED probes Franklin Templeton, its officials for money laundering
We have registered a case of money laundering against Franklin Templeton and its senior officials, a senior ED official said. He added that the agency registered the case on the basis of an FIR lodged by the Economic Offences Wing (EOW) of the Chennai Police.
Market in red, Sensex falls nearly 800 points
Heavy selling was witnessed in metal, banking and finance stocks. The top losers on the Sensex so far were Tata Steel, HDFC and HDFC Bank, whereas the only gainers were ONGC, Infosys and Sun Pharmaceutical Industries.
Don't Miss
Advertisement