Following are the business news highlights at 1900 hours today:

Following are the business news highlights at 1900 hours today:

DEL23 BIZ-PNB-SBI

Kochi: Country's largest lender SBI today said it has an exposure of USD 212 million (about Rs 1,360 crore) in respect to letter of undertaking issued by Punjab National Bank to Nirav Modi, but does not have any direct exposure to the absconding jewellery designer.

DEL34 BIZ-LD STOCKS

Mumbai: Giving up early gains, benchmark Sensex tumbled 287 points to end at 34,010 today on widespread selling in auto, metal, PSU, capital goods, realty and banking counters.

DEL12 BIZ-RCOM-ASSET-SALE

New Delhi: Debt-ridden telecom operator RCom today said its shareholders have approved an asset monetisation plan which will be used to repay dues.
 

NRG22 UP-LD BUDGET

Lucknow: The Uttar Pradesh government today presented its second budget, worth Rs 4,28,384.52 crore, with a thrust on the Centre's flagship schemes ahead of the 2019 general elections.

DEL41 BIZ-RUPEE CLOSE

Mumbai: The rupee plummeted 30 paise to end at a fresh one-week low of 64.21 against the US dollar today, hit by a double whammy of rising global crude prices and worsening trade deficit.

DCM72 BIZ-PNB-LD ICAI

New Delhi: Chartered accountants' apex body ICAI today said it has taken suo motu cognisance of the USD 1.77 billion fraud at Punjab National Bank and has sought information from investigation agencies besides setting up a group to study the system issues arising out of the incident.

DCM71 BIZ-RIL-ACQUISITION

New Delhi: Reliance Industries today said it will acquire 65 per cent stake in Indian Film Combine Pvt Ltd, which is building a drive-in theatre, hotel, retail mall and club on a 12-acre plot in Mumbai, for Rs 1,105 crore.

BCM19 BIZ-AVI-DECCAN-AIRODISHA-JV

Mumbai: The Ahmedabad-based GSEC Aviation and Monarch Networth Capital have bought over the GR Gopinath-promoted Air Deccan, besides jointly acquiring majority stake in Air Odisha, which is set to launch its services on regional routes from tomorrow.

DCM76 BIZ-PNB-ASSET SALE

New Delhi: Scam-hit Punjab National Bank is considering to expedite sale of some of its fixed assets, including few office buildings not in use presently, for about Rs 500 crore by March-end, sources said.

DCM73 BIZ-TRAI-PENALTY

New Delhi: Telecom regulator Trai today said it will impose financial disincentive of up to Rs 50 lakh per circle on operators if their service rates are found to be predatory in nature.

DCM57 BIZ-STOCKS-LD PNB

New Delhi: Punjab National Bank (PNB) has lost market capitalisation (m-cap) worth Rs 8,731 crore after shares of the company slumped for the third straight session following the detection of a Rs 11,400-crore fraud.

DEL24 BIZ-BULLION CLOSE

New Delhi: Gold advanced by Rs 170 to Rs 31,820 per ten grams at the bullion market today largely in sync with the overseas trend amid increased buying by local jewellers.