Top headlines: PVR, Inox shares surge; strike hits services across India

Business Standard brings you the top headlines on Monday

Govt not considering buying crude oil in rupees from Russia: MoS

India has no plans to pay in rupees for the Russian oil its public sector companies buy, Parliament was informed on Monday.

India buys less than one per cent of its total oil imports from Russia. But western sanctions against Russia for its invasion of Ukraine have given way to talk of a rupee trade for the oil and gas purchases. Read more

Merger boost: Inox Leisure zooms 20%, hits record high; PVR jumps 10%

Shares of Inox Leisure and PVR on Monday jumped sharply after the leading film exhibition players announced a merger to create the largest multiplex chain in the country.

Inox Leisure shares jumped 11.33 per cent to settle at Rs 522.90 apiece on the BSE. During the day, it zoomed 19.99 per cent to its 52-week high of Rs 563.60.

PVR also gained 3.06 per cent to settle at Rs 1,883.50 on the BSE. During the day, it rallied 9.99 per cent to its 52-week high of Rs 2,010.35. Read more

Sea's e-commerce unit Shopee to shut India operations

E-commerce and gaming firm Sea Ltd said on Monday it is withdrawing from India's retail market just months after starting operations there, the second pullback this month in an overseas expansion drive, as the loss-making firm faces a weak growth outlook.

The withdrawal, effective beginning March 29, comes weeks after its e-commerce arm Shopee said it was pulling out of France and after India banned Sea's popular gaming app "Free Fire". Read more

Nationwide strike hits banking, public transport services across India

Banking and public transport services were thrown out of gear in West Bengal and Kerala on Monday as thousands of workers began their two-day nationwide strike against various policies of the government.

While essential services mostly remained unaffected, banking services in different parts of the country were partially impacted and there were reports of workers staging protests at several places across states. Read more