Tuesday, Oct 23, 2018 | Last Update : 11:23 PM IST

Economy

State-owned Central Bank of India, one of the key shareholders of debt-ridden IL&FS Ltd, is unlikely to participate in the proposed Rs 4,500 crore rights issue of the company, according to sources.

Central Bank of India may not participate in rights issue of IL&FS

Central Bank of India had 7.67 per cent stake in IL&FS at the end of March 2018.

The Reserve Bank of India’s monetary policy committee sees a risk of rising headline inflation from high crude oil prices and a weak rupee, indicating potential rate hikes ahead even as it held rates unchanged at its last meeting.

Reserve Bank of India highlights inflation spike risk, signal rate hikes

Five of six MPC members had voted for keeping rates on hold at 6.50 per cent, surprising most economists.

The SBI customers will get additional discounts and cash back on shopping through its digital platform YONO, as the lender wants to cash in on the festival season shopping spree. (Photo: SBI)

SBI customers to get additional discount, cash back on YONO festive sale

The SBI said it is the first ever bank to have come up with a digital shopping festival.

Escalating trade frictions and higher borrowing costs threatened to knock global growth. (Photo: AFP)

IMF members pledge to avoid using currencies as trade weapon

No formal talks to try to resolve the trade dispute have taken place since Aug 23.

Fraudsters and scamsters are commonplace across the financial vector.

Master thieves and ever susceptible Indian banks

CVC dissects modus operandi and loopholes in 47-page study of top 100 bank frauds.

Market

The NSE Nifty after shuttling between 10,408.65 and 10,224 points, ended 58.30 points.

Sensex ends in red as late sell-off reverses early gains

Sensex slipped into the negative zone to hit a low of 34,082.76 before ending at 34,134.38.

The benchmark BSE Sensex on Monday recovered over 321 points in early trade on fresh buying by investors amid a firm trend in Asian markets and better-than-expected earnings from HDFC Bank.

Sensex bounces 321 points in early trade on positive Asian cues

The NSE Nifty was quoting 49.60 points, or 0.48 per cent,higher at 10,353.15.

Surrendering early gains completely, the benchmark Sensex on Wednesday fell 383 points to end below the 35,000-mark in highly volatile trade, breaking three sessions of gains as investors booked profits amid caution ahead of Reliance Industries' second quarter earnings.

Sensex succumbs to profit-booking, tanks 383 points

The flagship index swung nearly 880 points both ways on alternate bouts of buying and selling during the session.

The 50-share NSE Nifty plunged 149.50 points, or 1.43 per cent, to end at 10,303.55.

Sensex plummets 464 points on liquidity concerns; RIL, NBFCs drag

The Sensex opened distinctly weak at 34,563.29 and continued to slide to touch a low of 34,140.32.

Companies

The company's compact hatchback Alto was at the second position with 21,719 units as against 23,830 units a year ago.

Maruti leads PV segment in September; seven models in top ten list

MSI's premium hatchback Swift stood at the first position with sale of 22,228 units in September.

BPSL’s acquisition would add pressure on their already high levels of debt.

Tata Steel to match JSW bid for Bhushan Power

Tata Steel did not revise its bid in August and sought directions from the Supreme Court to quash re-bid for BPSL.

The gross direct premium income (GDPI) of the company increased to Rs 3,530 crore in the September quarter. (Photo: AP)

ICICI Lombard Q2 net profit surges 44 pc to Rs 293 crore

Company's net profit in the corresponding July-September quarter of 2017-18 was at Rs 204 crore.

Netflix’s strategy of pricing close to rates it charges in developed markets will see it struggle against domestic competitors like 21st Century Fox-backed Hotstar. (AP Photo/Matt Rourke, File)

Netflix needs lower prices to woo India

Netflix will have to tweak the model to achieve success in Indian market.

Reliance Industries on Wednesday reported its highest ever quarterly net profit of Rs 9,516 crore, a 17.4 per cent rise year-on-year, for the July-September period. (Photo: PTI)

Reliance Industries Limited posts record Rs 9,516 crore profit in Q2

RIL's revenue rose 54.5 per cent to Rs 1,56,291 crore during the said quarter.

Autos

Niche bike maker Royal Enfield on Wednesday announced global launch of its two new motorcycle models, Continental GT 650 and the Interceptor INT 650 priced between USD 5,799 (approximately Rs 4,21,558) and USD 6,749 (Rs 4,90,618.56).

Royal Enfield announces global launch of two motorcycle models

The new motorcycles will be priced at USD 5,799 for the Interceptor INT 650 and USD 5999 for the Continental GT 650.

Volvo has officially announced that the XC40 will be their first all-electric vehicle.

XC40 to lead charge for Volvo’s electrification plans

Volvo has officially announced that the XC40 will be their first all-electric vehicle.

Country's largest carmaker Maruti Suzuki India (MSI) on Thursday hiked prices of its vehicles by up to Rs 6,100 in order to partially offset increase in commodity and distribution costs and adverse foreign exchange rates. (Photo: PTI)

Maruti Suzuki hikes prices by up to Rs 6,100

The new prices are effective from today.

Prime Minister Narendra Modi will launch the second phase of the FAME India scheme here on September 7 at India's First Global Mobility Summit 'MOVE', Union Minister Anant Geete said Wednesday.

PM Modi to launch 2nd phase of FAME to promote electric vehicles in India

Geete said the Heavy Industry Ministry was framing a comprehensive auto policy after consultation with all the stakeholders.

In Other News

The number of people who file tax returns has also increased by about 65 per cent during this period from 3.31 crore in FY 2013-14 to 5.44 crore in 2017-18 fiscal.

Average income of salaried, non-salaried & corporate taxpayers rises: CBDT

The number of salaried taxpayers has increased from 1.70 crore (assessment year 2014-15) to 2.33 crore (AY 2017-18).

In the national capital, all 400 petrol pumps along with linked CNG dispensing units will remain shut.

Fuel prices slashed for fifth day, petrol now cost Rs 81.34 in Delhi

Price of petrol has been reduced by 30 paise to retail at Rs 86.91 per litre in Mumbai.

The Finance Ministry on Sunday extended the deadline for filing summary sales return GSTR-3B for the month of September by five days to October 25.

Finance Ministry extends deadline for filing Sept GST returns to October 25

With this extension, businesses which wish to claim ITC benefit for July 2017-March 2018 period can do so till October 25.

Per litre cost of petrol and diesel is Rs 82.38 (fall of Rs 0.24) and Rs 75.48 (decrease of Rs 0.10), respectively in the national capital.

Fuel prices slashed further on Dussehra

In Mumbai, the petrol price was slashed by 24 paise to Rs 87.84 per litre.

Arun Jaitley (Photo: Twitter | ANI)

FinMin extends deadline to file GST returns

With this extension, businesses which wish to claim Input Tax Credit (ITC) benefit for July 2017-March 2018 period can do so till October 25.