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SpiceJet inks Rs 55,000 cr deal with Boeing to buy 100 jets

Low-cost airline SpiceJet is learnt to have concluded a deal with aircraft manufacturer Boeing to purchase 90-100 jets worth about Rs 55,000 crore at list prices.
The airline had been negotiating with the planemaker for quite some time now as it is expanding its fleet and network to tap the growing air travel demand.

Chandra is Bombay House boss

Over two months after the ouster of Cyrus Mistry, $103-billion Tata group on Thursday named TCS chief N Chandrasekaran as the new chairman of Tata Sons, the holding company of the salt-to-software conglomerate. Chandrasekaran is the first non-Parsi chairman of Tata Sons.
Chandrasekaran, popular as Chandra, will take the reins of Tata Sons at Bombay House headquarters from February 21.

Sensex, Nifty edge higher for 3rd day; power, IT stocks rally

Market continued its bull run for the third straight session, with Sensex rising nearly 107 points to close at an over 2-month high of 27,247.16 and Nifty crossing the key 8,400-level, led mainly by power, IT and banking stocks, ahead of key macro-economic data due today.

Besides, a positive start of the earnings season also fuelled the domestic market sentiment.

Market rally continues; Nifty tops 8,400

NSE Nifty breached the crucial 8,400-mark and BSE Sensex gained 113 points in early trade today on sustained buying by domestic investors ahead of key macroeconomic data to be released later in the day.

Besides, a positive start of the earnings season and firming trend on other Asian bourses also fuelled the domestic market sentiment.

Investors cheered better-than expected Q3 numbers in IndusInd Bank. TCS shares rose 0.82 per cent to Rs 2,342.00 ahead of Q3 earnings to be released later today.

Baton for driving economy has passed from RBI to govt

A significant portion of monetary accommodation which began in January 2015 seems to be now coming to a close. The RBI in the past two years has cut policy repo rate by 175 bps, while the liquidity stance also witnessed a regime shift in early 2016 when RBI, in its annual policy, transitioned from a deficit liquidity stance to a neutral liquidity stance. This was an indication that the central bank was comfortable with neutral to surplus liquidity situation, as monetary transmission was expected to be achieved without a deficit scenario.

2017: A Year of Uncertainties for Equity Market

Markets are expected to move in a narrow range during 2017, with a perceptible recovery seen towards the latter part of the year. Unless the Union Budget surprises very positively through a tax-induced fiscal stimulus, the markets are likely to mirror the movement seen over past three months with foreign institutional investors (FIIs) continuing to stay on the sidelines while locals provide buying support.

Sensex regains 27,000-mark, Nifty tops 8,300

Sensex surged over 151 points to breach the 27,000-level and Nifty hit the crucial 8,300-mark in opening trade today following widespread gains as investors widened their bets amid a firming trend in Asian markets.

However, caution prevailed ahead of macroeconomic data and quarterly earnings from blue-chip companies.

The 30-share index, which gained 173.01 points in the previous session, added 151.01 points, or 0.56 per cent, to 27,050.57 with all the sectoral indices led by metal, capital goods and bank leading the gains.

Srei Sahaj looking for PE investors to dilute stake

Sahaj e-Village, a Srei Initiative and a business integrator in the field of IT infrastructure with a focus on rural India, is scouting for a strategic investor, mostly private equity (PE) investors against dilution of promoters’ stake. It, however, refuses to divulge the names of the possible strategic investors.

PSUs eye EPFO funds

Under the government pressure to step up capital spending, PSUs are eyeing investments from EPFO, wh­ich is sitting on a huge ca­sh pile, to fund projects.
It being a pension fund, EPFO invests its corpus in long-term funds like state and central government bo­n­ds. PSUs too need such funding to implement their infrastructure projects, whi­ch have mostly longer pay back period.

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