Top headlines: New Air India sale plan, Sensex hits new high, and more

From govt planning to exclude more than half of Air India's debt, to Isro launching 14 satellites, Business Standard brings you the top news of the day

New plan to woo investors: Govt may exclude $7 billion of Air India debt

India is considering a plan to exclude more than half of Air India Ltd.’s $11 billion of debt in the government’s latest attempt to lure investors to buy the struggling carrier, people with knowledge of the matter said.

Prime Minister Narendra Modi’s administration plans to ask proposed investors to take over Rs 30,000 crore of the airline’s loans, which are backed by the carrier’s aircraft, the sources said, asking not to be identified, citing private information. Read more

Bull run continues; Sensex gains 199 pts to end above 41,000

Benchmark indices inched higher in last hour of Wednesday's session after spending majority of the day in a tight range.

The S&P BSE Sensex was hovering around 40,950 levels, up 140 points, or 0.35 per cent. YES Bank (up 7%), HCL Tech (up 2%), and Maruti (up 2%) were the top gainers in the Sensex pack. Larsen & Toubro (down 2.5%) was the top loser. Read more

Isro launches 14 satellites, marking success after Chandrayaan-2 setback

India launched 14 satellites Wednesday morning, boosting the morale of its space agency which had lost contact with a spacecraft that was trying to land on the Moon in September.

Polar Satellite Launch Vehicle-C47 (PSLV-C47) placed in orbit India's earth observation satellite Cartosat-3 and 13 nano-satellites for the US when it blasted off from the Indian Space Research Organisation (Isro's) Satish Dhawan Space Centre in Sriharikota at 9:28am. Read more

Muslim law board to file review plea before Dec 9 against Ayodhya verdict

The All India Muslim Personal Law Board (AIMPLB) said on Wednesday that it will file a review petition against the Supreme Court's verdict on Ayodhya title suit before December 9. "The board is firm on its decision to file a review petition in the Supreme Court and we have time till December 9 for doing so," AIMPLB secretary Zafaryab Jilani told PTI. Read more

SC reserves verdict on pleas challenging restrictions in Jammu & Kashmir

The Supreme Court reserved on Wednesday its verdict on a batch of pleas including that of Congress leader Ghulam Nabi Azad challenging restriction imposed in the erstwhile state of Jammu and Kashmir following abrogation of provisions of Article 370. Read more

Karvy indulged in activities which were never allowed, says Sebi chief

In the aftermath of Karvy Stock Broking episode, capital market watchdog Sebi on Wednesday said the brokerage was indulging in activities which were "never allowed".

The comments from the regulator's chairman Ajay Tyagi come days after Securities and Exchange Board of India (Sebi) banned Karvy, with immediate effect, for selling client stocks pledged with it through associated entities. Read more

Govt to introduce real-time power market from April 1, says CERC chairman

Real-time power market is expected to kick in from April 1 next year, following which consumers including discoms or captive users can buy power at exchanges just one hour before delivery, said a senior official on Wednesday. Read more

Leading Indian varsities post drop in QS World University Asia Rankings '20

Several leading Indian institutions of higher education witnessed a drop in the latest QS World University Asia Rankings 2020, with not a single institute making it to the top 30 in comparison with their other Asian peers. Read more 

Well aware of shortcomings in data quality: Govt tells Parliament

Amid concerns over credibility of statistical data, the government on Wednesday said it is aware of the shortcomings in data collection.

During the Question Hour, Congress member Shashi Tharoor said the country is facing statistical crisis. Read more

I am in NCP, will remain in party, no reason for confusion: Ajit Pawar

NCP leader Ajit Pawar, who last week supported the BJP to form a short-lived government in Maharashtra, on Wednesday said he continues to be in his party and that there is no reason "to create" confusion about it. Read more