F&O Expiry: Sensex, Nifty end lower; Tata Motors dips 5% ahead of Q1 nos

The BSE Sensex closed at 37,831 level, down 17 points, or 0.04%. The broader Nifty50, too, shed 19 points, or 0.17%, to settle at 11,252 levels.

11:52 AM

Uphill climb for big firms wanting corporation tax reduced to 25%

The road to extend corporation tax rate reduction to 25 per cent for large firms may become challenging, with revenue foregone on account of tax incentives and exemptions growing at a rapid pace.

 

Revenue foregone on account of corporation tax exemptions is estimated to grow by 16 per cent in 2018-19 (FY19) versus 8.7 per cent in the previous year and 12 per cent in 2016-17, show the Budget documents. READ MORE

11:45 AM

Buzzing | Reliance Infra gains 10%

11:39 AM

ICICI Prudential Life Insurance extends rally, up 6%

11:30 AM

NEWS ALERT | Lenders give 2 months extension for resolution in Rolta India: sources to BTVi

-- Rolta management seeks more time to rope in new investor

 

-- If current deal goes through bankers can hope for 100% recovery
 

11:25 AM

NEWS ALERT | Monsoon rains 35% below average this week: Met Dept

-- Little rainfall over the central, western and northern parts of the country was received

-- Overall, India has received 19 per cent less rain than average since the monsoon season began on June 1.

11:22 AM

Canara Bank dips over 4%

11:20 AM

Cox & Kings announces fresh Rs 174-cr default; independent director quits

Cox & Kings on Wednesday announced the resignation of its independent director Subhash Chandra Bhargava, as well as a default of Rs 174 crore on commercial paper. The tour operator informed the stock exchanges that Bhargava resigned with effect from Tuesday due to personal commitments and other pre-occupations. The firm has been facing liquidity crunch for the past few months, leading to default on loans, and rating downgrades. Recently, the tour operator has defaulted on commercial paper payments of over Rs 200 crore. 

11:13 AM

Ex-RBI chief backs govt's plan to raise $10 bn from first foreign bond sale

Former Reserve Bank of India Governor Bimal Jalan joined the debate on whether or not the nation should go for an offshore bond sale, saying India’s fundamentals supported the case for going ahead with the fund raising.

 

“At the moment we are in a fortunate position. Our debt to GDP ratio is not very high, exchange rate is stable, and foreign exchange reserves are high,” Jalan said in an interview in New Delhi on Wednesday. “So foreign borrowing, if it’s long term, which it would be, is not a problem.”  READ MORE

11:07 AM

NMDC slips nearly 3% in trade

11:00 AM

NEWS ALERT | Dipam writes to Power Min, asks to fast-track NTPC-SJVN merger: sources to BTVi

-- Power Min has initiated fresh talks with HP govt to sort out issues

Alert: Dipam is Departmrnt of Investment and Public Asset Management

 

10:51 AM

NEWS ALERT | Former DEA and Finance secy SC Garg likely to seek voluntary retirement: Agencies

-- Subhash Chandra Garg was transferred to Power Ministry from Finance Ministry yesterday

ALERT: DEA is Department of Economic Affairs

10:43 AM

DFM Foods trades 0.5% higher

10:36 AM

Maruti Suzuki Q1 preview: Demand slowdown, low volumes to drag earnings

Edelweiss expects Maruti to report a 16 per cent dip in revenues on YoY basis to Rs 18,626.9 crore while net profit may slide 38 per cent to Rs 1,224.2 crore. The carmaker had posted a profit of Rs 1,975.3 crore in Q1FY19. The brokerage firm said weak volume and ASP (average selling price) growth would pressure the company's topline. READ MORE

10:34 AM

Momentum picks by ICICI Securities

10:33 AM

Govt approves Rs 3,050-cr fine on Airtel, Voda Idea; telcos may move court

“After detailed discussions, it was decided that the DCC will accept the recommendations of Trai to levy penalty and recommend accordingly to the government,” DoT Secretary Aruna Sundararajan told reporters after a meeting. The DCC comprises members from several key ministries and is chaired by DoT secretary. READ MORE