Business

Telecom stocks are witnessing profit-booking after the Cabinet's nod late Wednesday for a two-year moratorium on spectrum-related dues. The four-day rally till yesterday screeched to a halt as the government decision failed to enthuse the investing c

In the biggest privatisation drive ever, the Union Cabinet on Wednesday approved sale of government's stake in blue-chip oil firm BPCL, shipping firm SCI and onland cargo mover Concor, as well as decided to cut shareholding in select public sector firms below 51 per cent to

As merger reports of Bengaluru-based Swiggy and Gurugram-based Zomato -- two biggest players in the burgeoning online food delivery market -- resurfaced, Deepinder Goyal-led Zomato on Tuesday refuted reports, saying they are not in talks with anyone.

"We

Delhi High Court has placed a restriction on the sale of assets belonging to Anil Ambani-led Reliance Capital which is reeling under mounting debt.

"The court has passed an order placing restrictions on any sale, disposal or creation of any encumbrance on any assets of the company, which inter-alia include the company's 4.28 per cent

The government on Wednesday offered relief to the country's stressed out telecom sector, which was under huge pressure to pay spectrum dues. At a meeting, the Cabinet Committee on Economic Affairs approved the plan to defer spectrum payment - to the tune

Tata Steel has said that it would reduce its work force in Europe by up to 3,000 employees, in a bid to lower the company's employee cost as part of its transformation measures.

The steel major released its proposals for a transformation programme of its Europe

State-owned oil refining and marketing major Bharat Petroleum Corporation Limited (BPCL) fell 2 per cent on Thursday, a day after the government approved a divestment plan in the oil marketing company. At 11:45 am, the BPCL stock had slipped from its intraday high of Rs. 549 and was trading at Rs. 534, lower by 2 per cent on the BSE. Among the

Telecom operators owe the government nearly Rs 1.47 lakh crore in licence fee (LF) and spectrum usage charges (SUC) and there is no consideration for a waiver, the Communications Ministry told Parliament on Wednesday.

Of the total amount, the licence fee comes to Rs 92,642 crore as of

Billionaire Mukesh Ambani's Reliance Jio on Tuesday said it will increase mobile phone call and data charges in the next few weeks. The statement came a day after Bharti Airtel and Vodafone Idea Ltd announced a hike in call and data charges from

BSE Sensex Today: Reliance Industries, Axis Bank, ITC and Airtel were the top drags on the index

To expand its international portfolio, low-cost carrier SpiceJet has signed a memorandum of understanding (MoU) with Bahrain-based Gulf Air "to explore greater cooperation", including an interline and codeshare agreement.

If all goes by the plan, this

India Post - which operates a network of more than 1.5 lakh post offices across the country - provides a variety of banking services. The Department of Posts offers several savings schemes with different

Shares in Zee Entertainment Enterprises Ltd (ZEEL) soared 15 per cent on Thursday, a day after media baron Subhash Chandra-led Essel Group said it was planning to sell up to 16.5 per cent in the company. Subhash Chandra's Essel Group said it sought to sell the stake in ZEEL to financial investors in order to repay loan obligations to certain

Saudi Arabia's King Salman said on Wednesday that oil giant Aramco's planned IPO will attract investment and create thousands of jobs, in his first comments on the blockbuster stock market listing.

The IPO "will allow investors inside and outside the kingdom to contribute to this leading company, allowing for investments and creating thousands of

The luxurious Golden Chariot train will start plying from March next year, Indian Railways said on Tuesday. The announcement was made after the Karnataka State Tourism Development Corp (KSTDC) signed a memorandum of understanding with the Indian Railway Catering and Tourism

The government will defer spectrum payments due from telecommunications companies for two years to help an industry ravaged by a years-long price war, mounting debt and a court decision last month demanding $13 billion in overdue fees.

The

Reliance Industries Limited (RIL) is within stone's throw of the Rs 10 lakh crore market capitalisation milestone -- hovering at Rs 9.92 lakh crore - after its wholly owned subsidiary Reliance Jio announced plans to hike the mobile phone call and

Global credit conditions in 2020 will weaken as a result of growing risks of an economic downturn, trade policy uncertainty and the effects of an unpredictable political and geopolitical environment, Moody's Investors Service said on

Media baron Subhash Chandra-led Essel Group on Wednesday said that it is planning to sell a 16.5 per cent stake in Zee Entertainment Enterprises Limited (ZEEL) to financial investors in order to repay loan obligations to certain lenders of

The S-P BSE Sensex and NSE Nifty 50 surged, led by gains in Reliance Industries. The index bellwether rose as much as 4.05 per cent to a fresh record high of Rs 1,571 after its telecom wing said it will also raise tariffs of telecom offerings a day after Bharti Airtel and

Private traders have placed orders for importing onions and at least 1,000 tonnes are expected by the end of the month, which will help ease retail prices that are still ruling high at over Rs 60 per kilogram, a senior government official said

The government has agreed to sell stakes in five state-run companies, including oil refiner Bharat Petroleum Corp (BPCL), Finance Minister Nirmala Sitharaman said on Wednesday, a move that could help bridge a widening fiscal gap.

Prime Minister Narendra Modi's government has also approved the sale of holdings in logistics firm Container Corp of

India's economic growth probably hit a new low last quarter, with early forecasts showing expansion below 5 per cent.

Economists at State Bank of India, Nomura Holdings Inc. and Capital Economics Ltd. lowered their growth forecasts for the quarter ended September to between 4.2 per

State-run banks reported fraud worth Rs 95,760 crore in the first six months of the fiscal year 2019-20 ending in March, finance minister told lawmakers on Tuesday.

The number of fraud cases touched 5,743 during April-September period.

"Government has taken

The Cabinet on Wednesday gave its approval to the Food Ministry's recent decision to import 1.2 lakh tonnes of onions in a bid to improve the domestic availability of the key kitchen staple and check prices.

Finance Minister Nirmala Sitharaman informed about the decision at a media briefing after the Cabinet meeting. On November 16, Food and

Yes Bank on Tuesday informed the exchanges that Rana Kapoor and promoter entities Yes Capital and Morgan Credits have sold their remaining 0.8 per cent stakes in the company.

According to a stock exchange filing, the promoters sold 2.04 crore shares in the open market during November 13-14. The promoter entities now hold 900 shares in Yes Bank.

Yes

The S-P BSE Sensex and NSE Nifty 50 index ended higher on Tuesday led by gains in Reliance Industries, Bharti Airtel, Axis Bank, HDSFC Bank, Infosys and State Bank of India. The benchmarks traded higher during the session and Sensex rose as much as 260 points and the

The Union Cabinet on Wednesday approved a bill to replace an ordinance promulgated to reduce corporate tax to 22 per cent to boost the economy.

After the Cabinet meeting here, Finance Minister Nirmala Sitharaman said decision has been taken to bring the bill to

Fast moving consumer goods (FMCG) firm Haldiram's and the Anil Agarwal-led Vedanta Group are among the bidders who have submitted their expressions of interest (EoI) to acquire the debt-ridden companies of the Videocon Group.

According to sources, around 10 EoIs have been received

India could have more foreign banks soon as in the case of other Asian countries like China, Singapore and Hong Kong with 15 overseas banks have been in touch with the Central Bank, to open branches in the country.

As per RBI Data, already 46 foreign banks