BUSINESS
SEBI gives Hindujas 1 month more to subscribe to IndusInd Bank warrants
In July 2019, the promoters subscribed to 25 per cent warrants aggregating to Rs 673.82 crore, in order to reinforce the confidence in the management and strength of the bank at a price of Rs 1,709 per share, when the market price was hovering at Rs 1,470 per share. Against the backdrop of Covid19 pandemic, which disrupted business operations of entities across the world.
Sensex, Nifty inch up to touch fresh highs
Healthy buying was witnessed in consumer durables and healthcare stocks, while decline in metal, telecom and FMCG stocks limited the gains on the indices. Around 10.20 a.m., Sensex was trading at 46,743.21, higher by 76.75 points or 0.16 per cent from its previous close of 46,666.46. It opened at 46,774.32 and has so far touched an intra-day high of 46,812.37 and a low of 46,627.60 points.
US Fed signals to keep interest rates near zero
The central bank also said that it will continue to increase its holdings of Treasury securities by at least $80 billion per month and of agency mortgage-backed securities by at least $40 billion per month until "substantial further progress has been made" toward the Fed's maximum employment and price stability goals.
Spectrum for 4G to be auctioned in March
“The notice inviting applications from telecom service providers will be issued later this month, and the government hopes to complete the sale by March 2021”, said Telecom Minister Ravi Shankar Prasad.
SEBI rejigs minimum public shareholding norms for cos under Insolvency and Bankruptcy Code
Post the SEBI board's decision, such companies will be mandated to have at least 5 per cent public shareholding at the time of their admission to dealing on stock exchange, as against no minimum requirement at present.
World Bank approves four India projects worth over $800 million
The projects support a range of developmental initiatives - strengthening India's social protection architecture, promoting nutrition-supportive agriculture for tribal households in Chhattisgarh, enhancing quality education in Nagaland and improving the safety and performance of the existing dams across various states in India.
New Development Bank to lend $1 billion for India's economic recovery from Covid-19
The loan from the NDB will support expenditures on rural infrastructure related to natural resource management (NRM) and rural employment generation under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS).
Tata vs Mistry: Cyrus Mistry side says AoA breached, no agenda for removal at board meeting
As the legal battle in the Tata-Mistry case entered its sixth day, senior advocate Shyam Divan, representing Sterling Investment - a Shapoorji Pallonji Group firm, contended before a bench headed by Chief Justice S.A. Bobde that the Tata Sons' Articles of Association of Tata Sons lay down the process of appointment of the Chairman, and should have been followed while in their removal.
Share Market: Global cues, FII inflows lift equity indices to new highs
Subsequently, the NSE Nifty50 reached a record high of 13,692.35, while S&P BSE Sensex touched 46,704.97 points level, following a strong market sentiments globally. In terms of sectors, realty, metal, auto and pharma indices were major gainers, while PSU banks were the main loser.
Cabinet Committee on Economic Affairs approves Rs 3,500 crore subsidy to export 60 lakh tonne sugar
The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi on Wednesday approved the financial assistance of nearly Rs 3,500 crore for sugarcane farmers (Ganna Kisan), said an official statement.
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