Tuesday, Apr 24, 2018 | Last Update : 12:23 PM IST

Economy

India’s merchandise exports in March fell 0.7 per cent year-on-year to USD 29.1 billion.

India's March exports fall amid trade tensions

Trade deficit for the year ending in March widened to $156.8 billion from $105.72 billion in the previous year.

Leading public sector lenders State Bank of India (SBI) and Punjab National Bank (PNB) have put their 15 non-performing assets worth Rs 1,063 crore for sale.

SBI, PNB put 15 NPAs worth Rs 1,063 crore for sale

All the 21 public sector banks had gross bad loans of over Rs 7.33 lakh crore.

Bad loans of public sector banks stood at Rs 7.34 lakh crore by the end of second quarter last fiscal.

Plans of FDI hike in PSBs on hold now

Government considering raising the FDI limit to 49 per cent for some time now.

Under the framework, bankers will have to implement a resolution plan to revive a defaulting company within 180 days.

Infra lending may take a back seat as RBI refuses to budge on new NPA rules

Banks requested the RBI to make the required majority to 75 per cent for any such plan.

Inflation in onion continued to rule high at 42.22 per cent and in potato at 43.25 per cent.

Inflation dips to 2.47 per cent in March

The wholesale prices of food articles fell 0.29 per cent in March compared to a 0.88 per cent rise in the previous month.

Market

The 30-share index moved higher by 110.13 points, or 0.32 per cent, to 34,505.19.

Sensex rises over 100 points, Nifty nears 10,600

The broader Nifty too opened higher by 30.70 points, or 0.29 per cent, at 10,579.40.

Globally, gold rose 0.83 per cent to USD 1,345.40 an ounce and silver went up 1.22 per cent to USD 16.63 an ounce in New York. (Photo: PTI)

Gold glitters on global leads, jewellers' buying

Gold is trading at Rs 32,100 per ten grams at bullion market largely due to a firm trend overseas.

Globally, gold prices fell 0.25 per cent to USD 1,341.90 an ounce in Singapore.

Gold futures slide 0.46 per cent on global cues, profit-booking

Gold is trading at Rs 31,453 per ten grams amid a weak global trend and profit-booking by speculators.

The country’s demand for jet fuel to record highs this year. (Photo: ANI)

Jet fuel demand to soar as domestic air travel takes off

Rapid growth in appetite for aviation fuel means the country’s refiners are far less likely to send cargoes abroad.

Companies

Reliance General Insurance, arm of Reliance Capital, has registered a net profit of Rs 165 crore in the fiscal ended March, up by 28 per cent from a year earlier.

Reliance General Insurance profit up 28 pc at Rs 165 cr in FY18

The company's investment book increased to Rs 7,999 crore, up by 19 per cent from a year ago, it said in a statement.

Company's average total revenue generated from India operations from its different business segments for the financial years 2013, 2014 and 2015.

NCLAT reserves order on Google's plea to stay Rs 136 cr penalty by CCI

CCI had slapped a fine on Google for unfair business practices in the Indian market for online search.

Amazon.com Inc expects groceries and household products to account for over half of its business in India in the next five years. AP Photo/Reed Saxon, File)

Amazon to double down on groceries; foray deeper into fresh produce in India

Amazon already has over 100 million registered users in India.

Tata Sons on Monday announced the appointment of former Indian foreign secretary S Jaishankar as Tata Group's President, Global Corporate Affairs.

Tata Sons appoints ex-foreign secy as global corp affairs head

Jaishankar will report to Tata Sons Chairman N Chandrasekaran, the company said in a statement.

The National Company Law Appellate Tribunal (NCLAT) on Monday adjourned to May 2 its hearing on the Reliance Infratel petition seeking permission to sell its tower and fibre assets. (Photo: PTI)

NCLAT adjourns hearing on Reliance Infratel asset sale to May 2

NCLAT had on April 6 partially allowed sale of the businesses, which was challenged by HSBC Daisy Investments (Mauritius) Ltd.

Autos

Luxury car maker Audi is expecting flat growth in the current calendar.

Audi India expects flat growth in 2018

Audi India slipped to the third position in terms of market share after gaining the number one spot in 2015.

Tata Motors-owned Jaguar Land Rover India on Tuesday opened the bookings for the new Range Rover and Range Rover Sport models.

JLR opens bookings for new Range Rover, Range Rover Sport

The company earlier this month had said it would ride in 10 new models to the country this fiscal year.

Vehicles will soon come fitted with number plates and the cost will be included in the four-wheelers' price, Union Minister Nitin Gadkari said.

Soon automakers to deliver cars fitted with number plates: Gadkari

The government has recently made it mandatory for all cars manufactured after July 2019.

Ford India on Monday reported a 11.06 per cent increase in total sales at 27,580 units in March against 24,832 units in the same month last year.

Ford India sales up 11 per cent at 27,580 units in March

The company said its domestic sales stood at 9,016 units in March as against 8,700 units in the year-ago month.

In Other News

India has retained its position as the top remittances receiving country with its diaspora sending about USD 69 billion back home in 2017, the World Bank said on Monday.

India receives USD 69 bn remittances in 2017; retains top slot

India has retained its position as the top remittances receiving country with its diaspora sending about USD 69 billion back home.

The finance ministry is hopeful of Punjab National Bank making a quick recovery in the first quarter of the current fiscal.

Finance ministry hopeful of PNB rebounding in Q1

The ministry is keeping a tight watch on the bank’s performance so as not to let the bank slip into further mess.

India exported about 7.97 lakh tonnes of spices and spice products worth Rs 13,167.89 crore during April-December 2017, an increase of 20 per cent in volume and four per cent in Rupee terms.

India's spices exports rise 20 per cent in April-Dec 2017

During the corresponding period in 2016, 6.63 lakh tonnes valued at Rs 12,607.46 crore was exported.

Several Thailand-based companies which are operating in India plan to invest around USD 3 billion in the next three years period in the areas of green and brown field projects including energy, infrastructure and metals. (Photo: Pexels)

Thai companies keen to invest USD 3 bn in Indian infra projects

Several Thailand-based companies which are operating in India plan to invest around USD 3 billion in the next three years.

Trai will finalise its recommendation on privacy, security and ownership of data in telecom sector by the month-end.

Trai views on data privacy, security in telecom sector: R S Sharma

Trai had floated a consultation paper on the privacy, security and ownership of data in telecom sector last year.