Accordingly oil prices hovered just below 2019 highs early on Tuesday, supported by ongoing supply cuts led by producer club OPEC. Meanwhile US sanctions against oil producers Iran and Venezuela are also boosting crude prices, although traders say the market looks capped by rising American output.
After beating drums and shouting aloud may have a lot of dramatic value to attract potential bidders, but capital markets regulator Sebi feels these archaic methods for recovery of funds through the sale of attached assets are outdated and there are several newer alternatives that can yield better results. Meanwhile the 'outdated' provisions have caught the eyes of the Securities and Exchange Board of India
According to sources it was stated that the annual rate of inflation, based on Wholesale Price Index (WPI), rose to 2.93% (provisional) for the month of February compared with 2.76% in the previous month, government data showed. At 2.93%, the wholesale price inflation in February was higher than economists' estimates. Economists in a poll conducted by news agency Reuters had expected the WPI inflation at 2.88%.
Accordingly with oil prices on the boil just as general elections are announced, Oil Minister Dharmendra Pradhan has asked world's largest oil exporter Saudi Arabia to play an active role in keeping rates at a reasonable level. Reportedly Petrol and diesel prices have risen by over Rs 2 per liter in last one month as international rates have risen on hopes of the United States and China ending a trade war
Accordingly the Reserve Bank of India may disallow credit rating agencies from the dual role of being adviser cum rating agencies for companies. Meanwhile the move aims to prevent such entities from making biased assessments about the financial condition of their clients and restrict conflict of interest that may step in.
As per report Bharti Airtel said on Thursday its promoters would take part in the $4.57 billion capital infusion plan by subscribing to its rights issue. Meanwhile the Promoter Singapore Telecommunications Ltd (Singtel) will subscribe to 17 crore shares in the Airtel's rights issue for a total consideration of Rs. 3,750 crore ($535.89 million), the Singapore based company said in a separate statement.
According to sources the company's Chairman and Managing Director Suresh Narayanan told
Nestle India does not intend to raise royalty payout beyond 4.5% and the remark comes even as shareholders were waiting to see whether Nestle India will seek minority shareholders' approval to pay over 4.5% in royalties. Royalty is a sum paid to a patent for use of a patent. Narayanan said "There has been no discussion on this".
According to sources a prime supporter of demonetization and member of the Reserve Bank of India, S Gurumurthy once again called the biggest monetary decision taken by the Modi government a correct. Gurumurthy said that demonetization was very important. He, however, agreed that the move had some ill-effects too.
According to sources the benchmark BSE Sensex surrendered early gains Wednesday to end in the negative terrain after a 600 point swing amid escalating cross border tension between India and Pakistan. Investor sentiment took a beating after Pakistani fighter jets on Wednesday violated Indian air space in Jammu and Kashmir's Poonch and Nowshera sectors, experts said.
As per report Indian Railways has certain luggage carrying rules under which each passenger is allowed a free allowance up to which he/she can carry luggage in the compartment. The free allowance varies for different classes of travel, said Indian Railways on its website, indianrail.gov.in. However, passengers can book and carry excess luggage beyond the free allowance limits in the compartment up to a maximum limit according to the class of travel.
As per report Finance Minister Arun Jaitley said in a big relief to home buyers, the GST Council on Sunday slashed tax rates on under construction housing properties to 5% without input tax credit, from the existing 12%. Meanwhile the Council also cut GST rates on affordable housing to 1% from the current 8% and expanded the scope of affordable housing to those costing up to Rs. 45 lakh and measuring 60 sq metre in metros and 90 sq metre in non-metro cities.
As per latest report in Delhi, gold of 99.9% and 99.5% purities advanced by Rs. 360 each to Rs. 34,830 and Rs. 34,680 per 10 grams, respectively and furthermore the gold prices on Wednesday had dropped Rs.210.
According to sources IRCTC or Indian Railway Catering and Tourism Corporation, which handles the catering, tourism and online ticketing operations of the Indian Railways, also offers the option of ticket cancellation via its official website- irctc.co.in or mobile app. Meanwhile after the confirmation of cancellation, the refund is credited back to the account used for booking of the ticket.
Sources told that the Anil Agarwal led Vedanta may make another attempt at buying Essar Steel. But this time, it won't be alone but may partner Sajjan Jindal JSW Steel. Meanwhile t he two companies may come together and put in a joint bid of about Rs 47,000 crore, said an industry executive. The executive said "But a final call is yet to be taken".
Animal Planet, India’s No. 1 Wildlife channel, has joined hands with L&T Metro Rail (Hyderabad) Limited (L&TMRHL) to sensitize citizens of Hyderabad about the importance of Tiger Conservation. Starting February 13, 2019 for a month, Animal Planet & L&T Metro Rail Hyderabad will be running a campaign highlighting the alarming situation of global tiger population
A first of its kind, fully practical, hands-on farming training course offered in India, to promote organic, spiritual and vriksha ayurveda systems of farming with focus on integrated sustainable farming and high value crops multi cultivation systems, without charging any fee from trainees.