In a bid to fast track plans for introduction of targeted subsidy in a host of sectors, the government is examining a proposal to extend the scope of direct benefit transfer (DBT) scheme to the power sector.
Companies and Markets
Companies & Markets
Banking, healthcare and FMCG stocks weighed heavy on markets today as the Sensex faltered and the Nifty dropped below the key 10,000-mark in early session.
Asian shares were a mixed bag. The 30-share Sensex fell 76.20 points -- or 0.23 per cent -- to 32,161.68. The gauge had lost 337 points in the previous two sessions.
Healthcare, FMCG, banking, power and auto indices were all in the loss zone, down by up to 1.67 per cent.
Equity markets across the globe are on a firm bull run with the Dow Jones Industrial Average peaking over the 22,000 mark for the first time this week as investors bet that a resurgent global economy would boost corporate earnings.
Even the key Asian and European indices are ruling at multi-year highs as investors have turned bullish on the back of strong profits numbers from big companies, low interest rates and positive growth expectation among developed economies.
A rising tide lifts all boats and that is precisely what seems to be happening in the equity markets. When the euphoria sees froth building up, market participants often describe it as a bubble.
Infosys founder NR Narayana Murthy (in pic) has mounted fresh attack on the present management of the IT major by demanding that the internal probe into the Panaya deal be made public.
Steel tycoon Sajjan Jindal’s JSW Steel will consider an investment from Japan’s second-biggest mill as the Mumbai-based firm looks to acquire distressed companies in India, according to joint managing director Seshagiri Rao.
The country’s largest oil refiner, Indian Oil Corporation (IOC), on Thursday post ed a 45 per cent drop in its June quarter net profit after inventory losses ate into refining margins even as the petrochemical segment generated lower profit.
The company reported a net profit of Rs 4,548.51 crore, or Rs 9.60 per share, for the quarter ended June 2017, a drop of 45 per cent, against net profit of Rs 8,268.98 crore, or Rs 17.45 a share, reported in the same period of the previous fiscal.
Key equity indices Sensex and Nifty registered losses at the open today on account of lower exposure by investors as the RBI's 25 bps rate reduction did little to lift spirits amid a weak Asian trade.
Markets regulator Sebi on Wednesday issued a disgorgement order amounting to Rs 125 crore in an alleged insider trading case in the stocks of MCX prior to the National Spot Exchange (NSEL) fiasco.
Rate cut hopes lifted markets to records today as the Sensex surged 111 points to 32,687 and Nifty hit a life high of 10,138, with interest-sensitive stocks hogging the limelight ahead of RBI policy outcome.