News digest: WTO summit, Nifty futures trade, LIC bails out HAL, and more

Resolution professional alleges fraud by Binani Cement promoters The resolution professional for Binani Cement has filed an application in the National Company Law Tribunal (NCLT), alleging fraudulent transactions involving the promoters of the company. Read More Nifty futures trade slumps 50% on Singapore Stock Exchange in March The trading volume of Nifty futures slumped 50 per cent on the Singapore Stock Exchange (SGX) in March since the National Stock Exchange (NSE) and the BSE ended data-sharing agreements. Nifty futures on the SGX saw an average daily trading of 53,332 lots during March, down from 108,871 in February. Read More US move may lead to global trade war, says WTO chief Roberto Azevedo World Trade Organization (WTO) Director-General Roberto Azevedo has warned of a potential global trade war as other nations could retaliate against recent decisions by the US to unilaterally raise tariffs and repeatedly target the multilateral rules-based trade regime. Read More LIC bails out Rs 42-billion Hindustan Aeronautics IPO Life Insurance Corporation of India (LIC) has saved the day for the Rs 42-billion initial public offering (IPO) by Hindustan Aeronautics (HAL). The country’s largest defence public sector undertaking’s share sale was subscribed 98 per cent, the bare minimum required for the issue to go through.

The IPO would have failed to reach even the half-way subscription mark if not for a last-minute bid by the state-owned insurance giant. Read More Indian cinema scales Chinese wall & it's not just about Aamir Khan films Advait Chandan’s Secret Superstar, the story of a 14-year-old girl who aspires to become a singer, made $10 million at the box office in India last year. The film, which was released in China earlier this year, went on to do $117.7 million business, beating Disney’s Star Wars: The Last Jedi in terms of ticket sales and revenues. Read More