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Anil Ambani has resigned from his position as director of Reliance Communications, along with four others, even as the bankrupt carriers nears the sale of its assets under the process of insolvency.

Chhaya Virani, Ryna Karani, Manjari Kacker and Suresh Rangachar have also resigned from positions of directors, the company said in a notice to the

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Rating cos examine whether Vodafone Idea can service its debt
Rating companies are evaluating the ability of financially-troubled Vodafone Idea to service its debt after the company reported losses amounting to 50,921 crore in the latest quarter as it provided for payout to the government.

Last month, CRISIL and CARE Ratings put Vodafone Idea on negative credit watch in the wake of the Supreme Court order

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Bharti Group withdraws Reliance Communications bid, citing unfair treatment
NEW DELHI: The Bharti Group has withdrawn its offer for the assets of bankrupt Reliance Communications and its subsidiaries Reliance Infratel and Reliance Telecom, citing extremely unfair treatment, and asserted that it reserves the right to bid afresh.

In a letter on Thursday addressed to Deloitte’s Anish Nanavaty, the court-appointed resolution p

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Fed says US financial system resilient; flags low rates, 'stablecoin' as risks
The US Federal Reserve on Friday flagged high levels of corporate debt, the impact of an extended period of low global interest rates, and emerging “stablecoin” cryptocurrency proposals as potential risks to the financial system.

Some asset values are high, the Fed noted, pointing in particular to commercial real estate values. But “risk appetite”

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Mumbai: The promoters of Sterling and Wilson Solar (SWSL), Shapoorji Pallonji Group and Khurshed Yazdi Daruvala, failed to honour their commitments made during the initial public offering (IPO) in August and sought more time from the company’s board to repay loans worth Rs 2,341 crore citing unforeseen reasons including a liquidity crisis at the g
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MUMBAI: Vodafone Idea may just have a few months before its auditors take a call on the company’s health and comment on whether the telecom firm’s intangible assets such as goodwill should be written off in its financial statement, two people with knowledge of the matter said.

“A call will have to be taken whether all the India assets will have to

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MSCI, S P Dow Jones, FTSE Russell could fast-track Aramco into indices
MSCI, the world's biggest index provider, will follow in the footsteps of S-P Dow Jones and FTSE Russell, which told clients this week that they could fast-track Saudi Aramco's inclusion into their indexes as soon as December.

Typically, providers of indexes which are tracked or used as a benchmark by investment funds would add newly listed

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RCom posts Indiasecond biggest loss at Rs 30,142 crore

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YES Bank jumps 3% as ICRA finds liquidity adequate
NEW DELHI: Private sector lender YES Bank advanced 3 per cent in Thursday’s trade after ICRA said the bank has adequate liquidity for now. The rating agency maintained most of the ratings on YES Bank’s bonds.

ICRA said the bank's liquidity coverage ratio (LCR) stood at 113.83 per cent in Q2FY20 compared with the RBI’s requirement of 100 per cent a

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China central bank says will maintain prudent policy to prevent inflation from spreading
China’s central bank said on Saturday it will maintain prudent monetary policy to prevent inflation from spreading.

In its third quarter monetary policy report, the People’s Bank of China (PBOC) also said it was studying plans to switch the benchmark rate for existing loans to the new loan prime rate (LPR).

China’s economic growth for the third q

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Asian Infra Bank to invest $575 million in suburban rlys, clean energy
Mumbai: The Asian Infrastructure Investment Bank (AIIB) has approved an investment of $575 million in suburban railways and renewable energy sector, taking to its total commitment in India to nearly $3 billion.

It will extend a long-term project loan to Mumbai Urban Transport Corporation for $500 while the rest $75 million will be invested in Tata

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Fairy tale of banking liquidity: Why debt funds are your best bet now
Liquidity is oxygen for a financial system. While the system was gasping for breath around this time last year, today there appears to be too much of it. But before we delve deeper into this, it’s time to go into some of the basics.

In a monetary system, the only entity that can create or destroy money (liquidity) is the central bank. And this

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Reliance Jio Infocomm continued to advocate that interconnect usage charges (IUC) should be scrapped, while rivals Vodafone Idea and Bharti Airtel called for the regime to continue for at least three more years.

At the telecom regulator’s open house discussion on Friday, Jio said there were no grounds to delay implementation of the zero-IUC regime

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Essar Steel: SC verdict lays down roles of creditors, adjudicating body
New Delhi: The Supreme Court judgement on the Essar Steel case has clearly laid down the roles of the committee of creditors (CoC) and the adjudicating authority, and accepted that financial and operational creditors are distinct and cannot be equated, said a senior government official.

Finance minister Nirmala Sitharaman, meanwhile, said the

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Share market update: Media shares mixed; Sun TV gains 4%
NEW DELHI: Media shares were trading on a mixed note in Thursday's afternoon session.

Shares of Sun TV Network (up 4.18 per cent) , Inox Leisure (up 1.10 per cent) , Navneet Education (up 0.81 per cent) and Dish TV India (up 0.74 per cent) were the top performers in the index.

While Zee Media Corporation (down 4.05 per cent) , Eros International

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By DK Aggrawal images The 'E' theme has a major role to play in Indian economy. Both electric vehicles and e-commerce industry have huge potential. The electric vehicles (EV) market in India is just beginning to come up with the ongoing developments in the automotive sector. However, first-level acceptance by the customer and competence is yet to be
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Essar Steel lenders to recover over 90% of Rs 42,000 crore
Mumbai: The Supreme Court’s verdict will see banks recover almost 92% of the ₹42,000-crore Essar Steel owed them, while operational creditors will get ₹1196 crore, boosting the outlook for December quarter earnings for the banks and pushing faster resolutions of multiple other bankruptcy cases in the country.

Banks, that have made provision covers

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Vodafone Idea may report over Rs 4,000 crore loss in Q2
Vodafone Idea is likely to report a net loss of over Rs 4,000 crore in the September quarter (Q2FY20) amid the ongoing battle of survival for the telecom player and consequently a significant customer exit on a QoQ basis.

The company is slated to announce its financial results for Q2FY20 on Thursday later in the day.

Brokerage firm ICICI

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By Andy Mukherjee

A long-held belief of analysts in India is that the economy is supply-constrained. Demand isn’t even worth a footnote, while a temporary squeeze in the onion market deserves obsession because it could be inflationary. It’s increasingly obvious that this view is outdated. In October, inflation quickened more than expected to 4.62%

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MUMBAI: Shares of PSU banks shrugged off worries over possible losses from Vodafone Idea's precarious financial position and rallied on Friday, boosted by the Supreme Court's ruling on Essar Steel.

The Nifty PSU Bank gained 3.28% to 2457.35 – the biggest one day gain since October 31. Central Bank of India, State Bank of India, Bank of India and Sy

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Share market update: 58 stocks hit 52-week lows on NSE
NEW DELHI: Around 58 stocks fell to touch their 52-week lows on NSE in Thursday's session.

Among the stocks that touched their 52-week lows were Aurobindo Pharma,Bang Overseas, Chennai Petroleum Corporation, Dollar Industries, Equitas Holdings and Gayatri Highways.

Gayatri Projects, Glenmark Pharmaceuticals, Vodafone Idea, Orbit Exports, Parag

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Kunal Bothra3 buy calls for next week
Strides Shasun, Aditya Birla Fashion and Kotak Bank are the three stocks to bet on next week, says Kunal Bothra, kunalbothra.co.in. Open interest data which transpired last week still suggests that there has been more long built up on the Bank Nifty futures, says Bothra. Excerpts from an interview with ETNOW.

Metals are going up, PSU banks are

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Consider Haldiramoffer, NCLT tells Kwality lenders
New Delhi: The National Company Law Tribunal (NCLT) has directed the lenders of Kwality Ltd to reconsider the revised Rs 145-crore offer by Haldiram Snacks to acquire the debt-ridden dairy firm.

The Delhi-based bench of the tribunal has also extended the Corporate Insolvency Resolution period by another three weeks and directed the Committee of

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Share market update: BSE Capital Goods index down; NBCC dips 3%
NEW DELHI: The S-P BSE Capital Goods index was down in Thursday's afternoon session.

Shares of Carborundum Universal (up 1.09 per cent) , Schaeffler India (up 0.80 per cent) , Bharat Electronics (up 0.46 per cent) and VGuard Industries (up 0.45 per cent) were the top performers in the index.

While NBCC (India) (down 3.45 per cent ) , AIA

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The domestic equity market inched higher during the week gone by, on positive sentiments supported by good earnings performance of large corporates and a steadily improving geopolitical situation. The market largely ignored negative news, which signalled that the bulls have taken the reins again.

However, market breadth and open interest levels

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Rating companies check whether Vodafone Idea can service its debt
MUMBAI: Rating companies are evaluating the ability of financially-troubled Vodafone Idea to service its debt after the company reported losses amounting to 50,921 crore in the latest quarter as it provided for payout to the government.

Last month, CRISIL and CARE Ratings put Vodafone Idea on negative credit watch in the wake of the Supreme Court

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Top intraday trading ideas for afternoon trade on Thursday, November 14, 2019

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Wall Street Hits Another Record High

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SC receiver asks NBCC to start 8 Amrapali projects
New Delhi: The Supreme Court-appointed receiver has asked NBCC (India) to start work on eight more stuck projects of the Amrapali Group, a move that will offer relief to more than 9,300 homebuyers in Noida and Greater Noida.

The Supreme Court had about a year ago asked the state-run builder to complete 16 projects of the Amrapali group. It has

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Radhakishan Damani picks stake in this smallcap firm; stock jumps 6%
Shares of VST Industries advanced more than 6 per cent in early trade on Thursday after ace investor and D-Mart promoter Radhakishan Damani bought 2.70 lakh shares in the company.

Damani purchased 2.70 lakh shares on Wednesday at an average price of Rs 4,259.99, BSE bulk deals data showed.

The scrip was trading 6.86 per cent up at Rs 4,570 at

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