Saturday, Nov 17, 2018 | Last Update : 09:37 AM IST

Economy

Finance Minister Arun Jaitley. (Photo: Twitter | @ANI)

Excessive competition can at times put particular sector under stress: Jaitley

Govt wanted effective market players, reasonably optimum in number so that the consumer interest is protected.

As much as Rs 3,096 crore worth of IGST refund claims are held up on account of various deficiencies.

Rs 82,775 cr GST refunds to exporters done; Rs 5,400 cr is pending

The disposal rate of GST refunds is 93.8 per cent as on October 31.

Former RBI Governor Raghuram Rajan.

India's economic growth held back due to note ban, GST: Raghuram Rajan

Mr Rajan said for four years -- 2012 to 2016 -- India was growing at a faster pace before it was hit by two major headwinds.

Wholesale inflation in India based on Wholesale Price Index (WPI) has risen to 5.13 per cent for the month of September. (Photo: PTI)

Wholesale inflation rises to 5.13 pc in Sept on rising fuel, food prices

The WPI inflation was 4.53 per cent in August.

The pace of opening new bank branches has come down since the last two-three years thanks to the rise in digital transactions. (Photo: PTI)

'New branch opening pace has come down owing to digital transactions'

The presence of branches is still important, but it is not as important as it was two-three years back, he said.

Market

Tracking gold, silver ready rallied Rs 450 to Rs 37,900 per cent and weekly-based delivery by Rs 452 to Rs 36,671 per kg.

Gold rises Rs 350 on high demand, positive global cues

Gold is trading at Rs 32,250 per 10 gram at the bullion market on increased buying by local jewellers.

Globally, gold rose 0.22 per cent to USD 1,203.50 an ounce and silver by 0.68 per cent to USD 14.18 an ounce in Singapore.

Gold prices fall by Rs 100 on lacklustre demand

Gold is trading at Rs 32,050 per 10 grams at the bullion market owing to slackened demand from local jewellers.

Benchmarks opened lower tracking global sell-off, but better-than-expected macro economic data supported investor sentiment.

Sensex up 46 points in choppy trade on better macro-data

The 30-share index fell over 140 points in opening trade but soon recovered the lost ground to quote higher by 46.12 points.

At the Interbank forex market, the rupee opened with strength at 72.81 and advanced to 72.60 against the dollar.

Rupee recovers 29 paise against dollar in early trade

Rupee is trading at 72.60 against US currency in early trade owing to easing global crude oil prices.

Companies

Media baron Subhash Chandra.

Chandras to sell 50 pc of Zee Entertainment, reap Rs 8,758 cr

At Tuesday’s closing price of Rs 438.2 per share, total holding is worth Rs 17,517.49 crore.

Tata Sons is conducting due diligence on Jet Airways as it explores the purchase of a controlling stake in the cash-strapped airline.

Tata Sons begins due diligence to buy Jet Airways: report

Jet Airways planned to cut flights on less profitable routes and add capacity in more lucrative markets.

The bank's net profit was Rs 1,840.43 crore in the July-September quarter of previous fiscal.

SBI net profit slips 69 per cent to Rs 576 crore in Q2

The bank had reported a net loss of Rs 4,875.85 crore in the first quarter of the current fiscal.

Total revenue was at Rs 514.6 crore in FY18 as against Rs 1,105.7 crore in the previous fiscal.

Snapdeal trims losses to Rs 613 crore, confident on hitting profits

The consolidated revenue from operations declined to Rs 436.1 crore for 2017-18 as against Rs 903.8 crore in FY17.

Firms incorporated by Chief Financial Officer Chander Wadhwa acted as conduit to divert homebuyers' money from Amrapali Group, says Supreme Court. (Photo: Amrapali.in)

Amrapali CFO gifted luxury car worth 43 lakhs, Supreme Court told

Amrapali CFO Chander Wadhwa got luxury car, had a liability of Rs 2 crore as income tax.

Autos

High taxes on luxury cars in India are understandable but there must be consistency in tax structures and policy as frequent changes hamper market sentiment and business plans, according to a top official of Italian super sports car maker Automobili Lamborghini.

Consistent tax policy needed for long-term biz plan in India: Lamborghini

A consistent policy is needed to help companies make long-term plans and chart out their strategies.

Mahindra & Mahindra (M&M) expects the electric vehicle segment to stabilise in India over the next five years with vehicle prices coming down due to reduction in battery cost, a top company official said on Thursday.

Electric vehicle segment to stabilise in India over next 5 years: Mahindra

Pawan Goenka said with EV prices coming down and demand picking up for such vehicles.

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.

The retro-themed classic design can also be seen from the classic-looking fork shrouds extending all the way up to the instrument console like the old Jawas.

Jawa re-enters India with 3 new motorcycles starting Rs 1.5 lakh

The Classic version, called simply Jawa, is priced at Rs 1.64 lakh (ex-Delhi).

In Other News

credit rating agencies should  also disclose any linkage to external support for meeting near term maturing obligations.

Tougher rules for rating firms

The latest circular comes in the backdrop of the default by IL&FS that rattled the entire financial markets.

Congress president Rahul Gandhi. (Photo: PTI)

PM needs Rs 3.6 lakh cr from RBI to fix 'mess' his economic theories created: Rahul

Gandhi also urged Reserve Bank Governor Urjit Patel to "stand up" to the prime minister and "protect the nation".

On Monday, petrol retailed Rs 78.56 per litre while diesel is priced at Rs 73.16, in Delhi.

Petrol price cut by 22 paise; total reduction reaches Rs 4.06 in 19 days

Petrol in Mumbai costs Rs 84.06 and diesel Rs 76.67 per litre on Monday.

Oil prices have fallen by over 20 per cent in the last one month due to easing of supply pressures, particularly from Iran.

Little respite from high fuel costs despite falling crude oil prices

Petrol is being retailed at Rs 77.56 a litre and diesel at Rs 72.31 per litre in Delhi.

This growth, the study said, will be due to recent reforms making the sector more competitive and market oriented.

Food retail to double in 5 year: Study

This growth, the study said, will be due to recent reforms making the sector more competitive and market oriented.