Business

Foreign portfolio investors (FPIs) sold shares worth a net Rs 1,524.74 crore on Friday, provisional data released by stock exchanges showed.

The two exchanges have been locked in dispute after India's three main bourses unexpectedly announced in February they would stop licensing their indexes to foreign bourses from August.

Laggards included Wipro, Axis Bank, TCS, NTPC, SBI, Reliance Industries, ICICI Bank, Adani Ports, Coal India, Asian Paints, Kotak Bank, IndusInd Bank, Hero MotoCorp and L&T, falling by up to 1.08 per cent.

With the raising of this capital, FDI in the bank would hit the regulatory ceiling of 74 per cent, Finance Minister Piyush Goyal said after the Cabinet meeting chaired by Prime Minister Narendra Modi.

The lack of buyers in a booming aviation market underlines the challenges the government faces in fixing the debt-laden national carrier, and is a setback for Prime Minister Narendra Modi's credentials as a reformer willing to step away from running money...

The apex bank had on April 6 mandated banks, e-wallets, and payment gateway providers to withdraw support for cryptocurrency exchanges and other businesses dealing with virtual currencies in India.

The Organization of the Petroleum Exporting Countries (OPEC), together with some non-OPEC producers, including Russia, started withholding output in 2017 to reduce a global supply overhang and push up prices.

The Committee of Creditors (CoC) of Ruchi Soya, in its meeting held on Tuesday, opened the bids submitted by the two contenders — Patanjali group and Adani Wilmar, which sells cooking oil under the Fortune brand.

The previous high in retail inflation was in January this year at 5.7 per cent.

The draft stipulates a minimum level of 'loan component' in fund based working capital finance and a mandatory Credit Conversion Factor (CCF) for the undrawn portion of cash credit/ overdraft limits availed by large borrowers, it said.

All eyes are now on Singapore, with the leaders of North Korea and the United States due to meet for the first time in history, with Pyongyang's nuclear programme top of the agenda.

The findings are part of the report prepared by the Institute for Economics and Peace (IEP) based on an analysis of 163 countries and territories.

Goyal said a panel headed by Punjab National Bank CEO Sunil Mehta would examine whether banks needed to set up an asset reconstruction company for faster resolution of stressed lenders.

Meanwhile, China is expected to slow down slightly from 6.9 percent in 2017 to 6.5 percent in 2018, 6.3 percent in 2019 and eventually 6.2 percent in 2020, it said.

The RBI's Monetary Policy Committee began its three-day meeting today amid speculation that it may hike the key interest rate on June 6 for the first time in over four years due to firming inflation.

The world's largest luggage maker said Tainwala had resigned for personal reasons but its board took seriously allegations about his academic credentials and his departure was "in the best interests of the company and its shareholders".