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Mar 16, 2018 06:14 PM IST | Source: Moneycontrol.com
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highlights
1.04 lakh panchayats ready for broadband connectivity
FLASH | October-December current account balance at USD 13.5 billion vs USD 8 billion (YoY), 2 percent of GDP: RBI
Punjab’s Lok Insaaf Party has decides to break alliance with Aam Aadmi Party following Delhi CM and AAP Leader Arvind Kejriwal's apology to Bikram Singh Majithia.
INX media case: Delhi High Court reserves order on Karti Chidambaram's bail plea
Exclusive: Govt’s EV subsidy scheme may be extended by 6 months
Excl: NGOs want industry members away from panel reviewing drug ban
Govt says it has no plan to discontinue Rs 2,000 note, plastic note trails to start in 5 cities
Sensex dives 510 points on political concerns, extends losses for 4th day
Dalmia Bharat’s bid for Binani Cement wins creditor support
I have been diagnosed with neuroendocrine tumour, says Irrfan
Daler Mehndi convicted in 2003 immigration case
Mukesh Ambani says Jio was seeded by daughter Isha in 2011
Ban on LoUs could hit import finance up to Rs 40,000cr, affect foreign biz of banks
Delhi HC refuses to ground entire fleet of IndiGo's A320neo
Rs 222cr electoral bonds sold in maiden issue
Bhagwant Mann resigns as AAP's Punjab unit chief
Walmart may acquire majority stake in Flipkart for $7bn
‘Higher recruitment, better compensation in offing this year’
Bitcoin's ‘death cross’ looms as strategist eyes $2,800 level
L&T arm bags Rs 2,864cr order for Eastern Dedicated Freight Corridor
Yes Bank sells 2.17% stake in Fortis Healthcare
TDP moves no-confidence motion in Parliament
Edelweiss calls off deal to acquire Religare Securities
Nirav Modi, Mallya, 29 others owe banks Rs 40,000cr
Trai seeks Airtel's reply over complaints of non-reporting, discriminatory tariffs
PNB asks for data info from peer banks, no condition yet on LoUs payout
TDP quits NDA, to move no-confidence motion
Aircraft grounding: IndiGo cancels 488 flights, GoAir 138 in March
Exports in Feb up 4.5% to $25.8bn, trade deficit narrows
ISI still providing covert support to Taliban, says report
Exclusive: Our Essar Steel bid is legit, ready to buy out Rewant Ruia: Numetal
India's GDP could reach $5 trillion by 2025, says Suresh Prabhu
Goa mining ban comes into effect
Rahul Gandhi to present Congress vision doc at plenary session
1.04 lakh panchayats ready for broadband connectivity
Over 1.04 lakh gram panchayats have been made "service ready" for providing broadband connectivity as on March 11 under Bharat Net project, Parliament was informed today.
Bharat Net project aims at providing broadband connectivity to all 2.5 lakh gram panchayats (GPs) in the country in a phased manner.
The first phase, which was to connect one lakh GPs, has already been completed. (PTI)
56 awaiting repatriation as Pakistan not confirming nationality: government to Supreme Court
The Centre has told the Supreme Court that 56 persons, believed to be Pakistani nationals who are under detention in India, are not being repatriated as the Pakistan government has not yet confirmed their nationality.
Due this reason, these persons have been under detention in spite of completing their sentences or no offence having been made out against them, the government said.
The issue of confirmation of their nationality was being taken up "regularly" with the Pakistan High Commission through the Ministry of External Affairs and these 56 persons can be repatriated as soon as their nationality is confirmed by Islamabad, it said. (PTI)
Confident that Shiv Sena won't support TDP's no-trust motion: CM Fadnavis
Expressing hope that the 'rashtravadi' (nationalist) and Hindutva forces will stay together, Maharashtra Chief Minister Devendra Fadnavis exuded confidence that Shiv Sena won't support the no-confidence motion against the NDA government.
The statement came after the Telugu Desam Party (TDP) moved a no-confidence motion against the BJP-led government in the Lok Sabha today, following TDP president N Chandrababu Naidu's announcement that his party was exiting the National Democratic Alliance.
"There have been no talks with Shiv Sena chief Uddhav Thackeray as yet. The seniors in our party (BJP's central leadership) will do that. However, I am confident that the 'rashtravadi' and Hindutva forces will stay together," Fadnavis told reporters. (PTI)
Expressing hope that the 'rashtravadi' (nationalist) and Hindutva forces will stay together, Maharashtra Chief Minister Devendra Fadnavis exuded confidence that Shiv Sena won't support the no-confidence motion against the NDA government.
The statement came after the Telugu Desam Party (TDP) moved a no-confidence motion against the BJP-led government in the Lok Sabha today, following TDP president N Chandrababu Naidu's announcement that his party was exiting the National Democratic Alliance.
"There have been no talks with Shiv Sena chief Uddhav Thackeray as yet. The seniors in our party (BJP's central leadership) will do that. However, I am confident that the 'rashtravadi' and Hindutva forces will stay together," Fadnavis told reporters. (PTI)
FLASH | October-December current account balance at USD 13.5 billion vs USD 8 billion (YoY), 2 percent of GDP: RBI
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Punjab’s Lok Insaaf Party has decides to break alliance with Aam Aadmi Party following Delhi CM and AAP Leader Arvind Kejriwal's apology to Bikram Singh Majithia.
INX media case: Delhi High Court reserves order on Karti Chidambaram's bail plea in INX Media case
The Delhi High Court today reserved its order on the bail plea of Karti Chidambaram, son of senior Congress leader P Chidambaram, in the INX Media corruption case filed by the CBI.
The Central Bureau of Investigation opposed the bail application, saying that tampering of evidence and influencing witnesses in the case were a possibility
The probe agency, represented by Additional Solicitor General Tushar Mehta, alleged that Karti had tampered with certain evidence. (PTI)
The Delhi High Court today reserved its order on the bail plea of Karti Chidambaram, son of senior Congress leader P Chidambaram, in the INX Media corruption case filed by the CBI. The Central Bureau of Investigation opposed the bail application, saying that tampering of evidence and influencing witnesses in the case were a possibility.
The probe agency, represented by Additional Solicitor General Tushar Mehta, alleged that Karti had tampered with certain evidence. (PTI)
Here are the top headlines at 4 pm from Moneycontrol News' Sakshi Batra
Exclusive: Govt’s EV subsidy scheme may be extended by 6 months
Central government’s scheme to subsidise electric vehicles may get extended by a further six months after its validity expires by the end of this month, reports Moneycontrol News’ Swaraj Baggonkar.
Excl: NGOs want industry members away from panel reviewing drug ban
The All India Drug Action Network - a group of healthcare-focused NGOs - has expressed dismay over government appointing representatives of professional bodies as members to the sub-committee of the Drugs Technical Advisory Board. The move assumes significance as the latter was directed to take a re-look at the banned 344 fixed dose combination drugs by Supreme Court in December last year, reports Moneycontrol News’ Viswanath Pilla.
Govt says it has no plan to discontinue Rs 2,000 note, plastic note trails to start in 5 cities
The government categorically said there was no proposal to discontinue Rs 2,000 currency note, which was introduced post demonetisation in November 2016. Minister of State for Finance P Radhakrishnan said in a written reply in the Lok Sabha that it had decided to conduct field trials of plastic currency notes of Rs 10 in five cites.
Sensex dives 510 points on political concerns, extends losses for 4th day
The BSE Sensex dived almost 510 points - its biggest single day fall since February 6 - due to a major sell-off amid political concerns after the Telugu Desam Party (TDP) decided to quit the NDA and moved a no-confidence notice against the government. For the third straight week, the flagship Sensex recorded a fall of 131.14 points, or 0.39%, while the NSE Nifty lost 31.70 points, or 0.3%.
The Lok Sabha could not take up notices for no-confidence motion against the NDA government with Speaker Sumitra Mahajan saying there was no order in the House and adjourned the proceedings for the day. The 30-share Sensex tumbled by 509.54 points, or 1.51%, its biggest single day fall since February 6 when it had lost 561.22 points, to end at 33,176. The broader NSE Nifty dipped below the 10,200-mark to hit a low of 10,180.25 before ending at 10,195.15, down by 165 points, or 1.59%.
Dalmia Bharat’s bid for Binani Cement wins creditor support
The Committee of Creditors of Binani Cement has approved the resolution plan from a consortium led by Dalmia Bharat out-bidding rival billionaire Kumar Mangalam Birla’s UltraTech Cement. The resolution professional overseeing the sale process will now submit the plan to the National Company Law Tribunal for final approval, Dalmia Bharat said in a filing. Dalmia Bharat made the investment through a 50-50 joint venture with India Resurgence Fund, which is backed by Bain Capital Credit and Piramal Enterprises.
Here are the top headlines at 3 pm from Moneycontrol News' Sakshi Batra
I have been diagnosed with neuroendocrine tumour, says Irrfan
Actor Irrfan Khan, 51, today revealed that he has been diagnosed with neuroendocrine tumour and is out of the country for treatment.
Daler Mehndi convicted in 2003 immigration case
A court in Patiala sentenced Punjabi pop singer Daler Mehndi to two year imprisonment for his role in an immigration scandal in 2003, reports PTI. He was held guilty under relevant sections of IPC by the court of Judicial Magistrate first class Judge Nidhi Saini, counsel Gurpreet Singh Bhasin said. A fine of Rs 1,000 was also imposed on the singer, he said. Daler was, however, released on bail bond.
There can't be parallel inquiry by courts, Centre tells SC in PNB fraud case
The Centre told the Supreme Court that there cannot be a parallel inquiry and monitoring by the court in investigations, reports PTI. It also opposed a suggestion given by the apex court to the Central Bureau of Investigation to file in a sealed cover the status of the probe in the Rs 13,600 crore the Punjab National Bank fraud case.
A bench headed by Chief Justice Dipak Misra was told by Attorney General KK Venugopal that even before the investigating agencies start probing the matter, people come to courts with public interest litigations. "Is there any justification for anyone to come to this court by filing a PIL and say that the court should be informed about the status of the investigation? There can't be a parallel inquiry and parallel monitoring by the courts."
Audi to hike car prices by up to Rs 9 lakh from April
German luxury car maker Audi said it will increase prices of its vehicles by up to Rs 9 lakh from April 1 to pass on the impact of increased customs duty in the Budget. Prices across its entire model range will increase from April 1 by up to 4% and range from Rs 1 lakh to Rs 9 lakh, the company said in a statement.
Mukesh Ambani says Jio was seeded by daughter Isha in 2011
Billionaire Mukesh Ambani said his telecom venture Jio, which catapulted India as the world's largest mobile broadband data consuming nation in less than two years, was first seeded by his daughter, Isha, in 2011, reports PTI. "The idea of Jio was first seeded by my daughter, Isha, in 2011. She was a student at Yale (in the US) and was home for holidays. She wanted to submit some course work and she said, 'Dad, the internet in our house sucks'," he recalled.
Ban on LoUs could hit import finance up to Rs 40,000cr, affect foreign biz of banks
The Reserve Bank of India's move to ban Letters of Undertaking (LoUs), from being used for trade finance of importers will likely lead to about Rs 20,000 to 40,000 crore shifting to alternative channels of funding. Foreign branches of Indian banks, which are already witnessing some decline in business and increased borrowing costs will also be hurt, said a report by SBI's economic research wing.
Market extends losses; Nifty falls over 100 pts
The market extended its intra-day losses amid the political upheaval triggered by the quitting of the Telugu Desam Party from the NDA government. The Sensex is down 400 points and the Nifty is trading way below 10,300 levels, weighed by index heavyweights Reliance Industries, HDFC twins and ITC. The midcaps have also extended their day’s losses, with the Nifty Midcap index falling 0.8%.
Delhi HC refuses to ground entire fleet of IndiGo's A320neo
The Delhi High Court refused to ground the entire fleet of IndiGo's A320neo aircraft, which allegedly have defective engines, reports PTI. Advocate Yeshwanth Shenoy's said in his plea that IndiGo's A320neo fleet should be grounded until the manufacturers give in writing that the existing defects have been rectified and the DGCA is satisfied. Turning down the plea, the court said Shenoy's plea seeking various other directions to the authorities, including an order to ensure that all accidents are published on DGCA's website within 24 hours of its occurrence, shall be heard on March 20.
Rs 222cr electoral bonds sold in maiden issue
India sold Rs 222 crore of bonds in the maiden issue of Electoral Bonds, which donors can buy from scheduled banks to pay political parties without revealing their identities, Parliament was informed. The maiden issue opened for subscription for 10 days beginning March 1.
Bhagwant Mann resigns as AAP's Punjab unit chief
Sangrur MP Bhagwant Mann resigned as AAP's Punjab chief, a day after party convener Arvind Kejriwal apologised to a SAD leader for accusing him of being involved in the drug trade, reports PTI. Mann announced his resignation on Twitter.
Here are the top headlines at 2 pm from Moneycontrol News' Anchal Pathak
Market under pressure; PSU banks outperform
The market is trading near the day's low as benchmark indices decline nearly a percent each due to intense selling in heavyweights - Reliance Industries, HDFC twins and ITC. The PSU Bank index outshine other sectoral indices, rising nearly a percent.
Walmart may acquire majority stake in Flipkart for $7bn
Walmart is in discussions to spend about $7 billion to become the largest investor in Flipkart, sources told Bloomberg, a move that would put the US retailer in competition with Amazon.com. It plans to buy about a third of Flipkart Online Services Pvt, in part by purchasing stakes from Tiger Global Management and SoftBank Group Corp, sources said.
The deal may push the valuation of the homegrown startup to about $20 billion, sources said, up from about $12 billion last year. Talks are at a critical stage and may wrap up this month. It’s also possible specifics such as the valuation or stake size may still change, and the deal may not come to fruition.
Here are the top headlines at 1 pm from Moneycontrol News' Sakshi Batra