Business

Shares of Subhash Chandra's Zee Entertainment Enterprises have fallen to the lowest level in five years

Media giant Essel Group, run by industry mogul Subhash Chandra, is seeking an extension to repay debt in order to avoid creditors liquidating its shares.

The company faces a month-end debt repayment deadline. If that's not met, creditors can sell

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India and China are Asia's biggest importers and buy a combined 12 per centof the world's oil.

Crude oil imports rose to a 4-month peak in August, while fuel oil imports climbed to the highest in more than eight years, data from the oil ministry's Petroleum Planning and Analysis Cell (PPAC) showed on Monday.

Crude imports into the world's

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Domestic equity benchmarks cheered the government's move to cut corporate tax rates for second session in a row and the S-P BSE Sensex surged 1,331.39 points and Nifty 50 index surpassed 11,650 mark outperforming the other Asian peers, a session after clocking the biggest single day gain in over a

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Shares of Aurobindo Pharma fell as much as 3.95 per cent after Sebi penalty.

Aurobindo Pharma share price fell nearly 4 per cent on Tuesday, a day after markets regulator Securities and Exchange Board of India slapped a penalty of Rs 22.7 crore on promoters of the drug maker for violating insider trading norms. On the Bombay Stock Exchange (BSE), A

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The price of crude oil has already reduced by a few dollars per barrel, Mr Pradhan said.

New Delhi: 

Oil minister Dharmendra Pradhan said on Monday global oil prices would ease if there is no further escalation of geopolitical tensions.

Oil prices had jumped by as much as 19 per cent early last week before coming off peaks after an attack on

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Sensex, Nifty today: The SGX Nifty futures were last seen trading 1.27% higher on the Singapore Exchange

Domestic stock markets started Monday's session sharply higher, shrugging off weakness in Asian peers and extending gains to a second straight day after the government decided to cut the corporate tax rates. The S-P BSE Sensex index rose as

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Four unions of bank officers had threatened to go on a two-day strike from September 26

New Delhi: 

Public sector bank officers' unions have deferred a proposed two-day strike following an assurance from Finance Secretary Rajiv Kumar to look into their concerns. Four unions of bank officers had threatened to go on a two-day strike from September 26

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Most of the branches are operational from 9:30 am to 4:30 pm while some are open till 8 pm.

Private sector lender ICICI Bank on Monday announced that it will expand its retail network in the country by adding 450 new branches this fiscal year. Of these, the bank has made 320 branches operational for customers. Another set of 130 branches will be

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Unions have also threatened to go on indefinite strike from the second week of November.

Around four lakh bank employees across the country are set to go on 2-day strike in September to protest against the merger of public sector banks, reported news agency Asian News International. The strike has been called by four bank unions- All India Bank

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LIVE market updates: At 8:36 am, the SGX Nifty futures were up 0.60% at 11,671.00

After two days of sharp gains following the government's decision to cut corporate taxes, domestic stock markets clocked only mild gains on Tuesday amid choppy trade as Asian peers ticket up on renewed hopes about US-China trade talks. The S-P BSE Sensex index

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New Delhi: 

Government aims to sell two or three state-owned firms to local or foreign firms to raise up to Rs 60,000 crore ($8.5 billion) by March 2020, a senior Finance Ministry official said on Monday.

The government planned to sell Bharat Petroleum Corp, logistics firm Container Corp of India and debt-laden Air India before the end of the

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The merged entity will be operational from April 2020.

New Delhi: 

The Punjab National Bank (PNB), which is the anchor bank for a scheduled merger with the United Bank of India (UBI) and the Oriental Bank of Commerce (OBC), has said that it does not see any erosion in asset quality after the merger and the best HR, process and products will be

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NRI after his arrival in India, shall be entitled to obtain Aadhaar number, UIDAI said.

New Delhi: 

Non-resident Indians (NRIs) with valid Indian passport can apply for Aadhaar on arrival, without the 182-day waiting period, with the government issuing a notification in this regard. 

Following the notification, the Unique Identification Authority of

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Bharat Petroleum was top gainer in the Nifty 50 basket of shares, the stock rose 14 per cent.

The S-P BSE Sensex and NSE Nifty 50 indices skyrocketed for second straight session after the investor sentiment got a boost from corporate tax rate cuts announced by Finance Minister Nirmala Sitharaman on Friday. The Sensex surged as much as 1,426

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SBI had introduced repo-linked home loans in July this year.

State Bank of India or SBI, the country's largest lender, has withdrawn the repo-rate linked home loan scheme. The bank mentioned this on its official Twitter handle while responding to a customer's query. "Kindly note that RLLR based home loan scheme have been withdrawn. You can get the

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The 10-year government bond yield was at 6.75 per cent.

Mumbai: 

The rupee recovered from day's low levels to close flat at 70.94 against the dollar on Monday helped by foreign fund inflows into equities and lower global crude oil prices. The domestic currency opened lower and fell to a low of 71.03 later on geopolitical concerns in West Asia and

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Britannia share price today: After opening at Rs 2,919.00, the stock rose to as high as Rs 3,443.90

Britannia shares jumped as much as 20 per cent on Monday amid large volumes. On the Bombay Stock Exchange (BSE), the Britannia shares rose as much as 20.12 per cent to Rs 3,443.90 apiece during the session, before giving up some of those gains. That

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The tax on room tariff of above Rs 7,500 was lowered to 18 per cent from the existing 28 per cent.

The GST or Goods and Services Tax Council on Friday slashed the rate on hotel room tariffs. The move was welcomed by luxury hotel chains. The tax on room tariff of above Rs 7,500 was lowered to 18 per cent from the existing 28 per cent. The Council

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Auto sales fell for the 10th straight month in August.

New Delhi: 

Maruti Suzuki India, the country's biggest automaker, expects sales of its cars in September to be higher than the previous month, its chairman RC Bhargava told news agency Reuters on Monday.

August domestic sales at Maruti Suzuki fell 34.3 per cent, one of the biggest monthly drops

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In Chennai, petrol rates were hiked by 31 paise per litre.

State-run oil marketing companies increased petrol and diesel prices on Monday, marking a seventh straight day of hike in the fuel rates. With effect from 6 am on Monday, the price of petrol was at Rs 73.91 per litre in Delhi, Rs 76.60 per litre in

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At wholesale market of Lasalgaon, onion prices rose to Rs 45/kg last week.

New Delhi: 

The Centre is mulling imposing stock limits on onion traders as the retail prices of the key kitchen staple have shot up to Rs 70-80 per kg in the national capital and other parts of the country owing to supply disruption in the wake of excess monsoon rains in the

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Government slashed its headline corporate tax rate to 22 per centfrom 30 per centon Friday.

Mumbai: 

Lower corporate tax rate will help its smartphone industry expand, fuel research and development (R-D) investment and attract higher-value component makers to the world's second-biggest smartphone market, four top industry executives said.

Governme

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Thomas Cook India shares fell as much as 9.26 per cent to Rs 142.

Thomas Cook bankruptcy: Thomas Cook India shares fell as much as 9.26 per cent to Rs 142 on a day when Sensex and Nifty surged over 3 per cent despite the company saying that it has no relation with the Thomas Cook UK. Thomas Cook Group Plc collapsed under a pile of debt after talks

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Price of diesel was increased by 18 paise to Rs 66.74 per litre in Delhi on Sunday.

Petrol prices have been increased by Rs 1.59 a litre and diesel by Rs 1.31 in the last six days -- the most since the current system of daily price reviews was introduced in 2017. Petrol price on Sunday was hiked by 27 paise

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Bank strike: Banks observe public holidays on the second and fourth Saturdays of the month.

Four unions of public sector bank (PSB) officers are set to go on 2-day strike on September 26-27, opposing the consolidation of 10 state-run lenders into four. As a result, several banks will be shut on September 26

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Deal between Petronet LNG and Tellurian was signed in presence of Prime Minister Narendra Modi.

Shares of Petronet LNG surged as much as 13.17 per cent to Rs 302 but erased gains and fell as much as 7.40 per cent to Rs 247.10 on the BSE. Petronet LNG signed a memorandum of understanding with US-based Tellurian Inc. on Saturday at Houston, USA. On

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The companies said they would try to finalize the deal by March 31, 2020.

Petronet LNG and US liquefied natural gas developer Tellurian Inc signed an initial agreement under which the Indian company and its affiliates will negotiate to buy up to 5 million tonnes per annum of liquefied natural gas, the companies said on Saturday.

Petronet will take

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Traders said rival exchange BSE remained operational during NSE's glitch.

Mumbai: 

Trading in National Stock Exchange halted for about 20 minutes before the session ended on Monday, according to several traders, even as markets closed up nearly 3 per cent on hopes that corporate tax cuts would revive the economy.

The reason for the trading glitch was

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SBI said the change will impact floating rate loans for small businesses, home and retail loans

State Bank of India (SBI) said on Monday that it would adopt the repo rate as external benchmark for all its floating rate-based loans from October 1. The move by the country's largest bank comes within three weeks of the Reserve Bank of India (RBI)

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Moody's current India rating is India (Baa2 stable).

Corporate tax reduction is credit positive for companies but increases the government's fiscal risks, global rating agency Moody's said on Saturday.

On September 20, Finance minister Nirmala Sitharaman announced a reduction in the base corporate tax rate to 22 per cent from 30 per cent as part of

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