Business

Air India is sitting on a debt pile of around Rs 58,000 crore, besides huge accumulated losses running into thousands of crores.

Reliance and its partner BP Plc of the UK had in June 2017 announced an investment of Rs 40,000 crore in the three sets of discoveries to reverse the flagging production in KG-D6 block.

During the week, the benchmark S&P BSE Sensex rose 1,171.3 points, or 3.07% to end at 39,298.38, while the Nifty 50 index added 356.8 points, or 3.15%, to end at 11,661.85.

Yes Bank shares mainly started gaining ground after media reports suggested that industrialists Sunil Mittal and Sunil Munjal have envisaged interest in acquiring a stake in the private lender.

Officials said the decision to defer the move follows Air India making a written request for the same as also promising to make regular payments to clear over Rs 5,000 crore in overdue fuel bills.

Responding to a question on why investors should allocate funds for India, she said that even if the court system is a bit delayed, India is a transparent and open society.

A Wipro statement said during the quarter ended September 30, 2019, the company concluded buyback of 323.1 million equity shares as approved earlier by the Board of Directors at their meeting on April 16, 2019.

Top gainers in the Sensex pack in early session included Tata Motors, Vedanta, Tata Steel, Sun Pharma, Bajaj Auto, IndusInd Bank, Bharti Airtel, HUL and SBI, rising up to 4 per cent.

The property sector has been battling a downturn for the last three to four years. Things have now, however, hit a critical point due to a liquidity crunch hitting shadow banks that are big lenders to both developers and property buyers.

India has raised the issue of widening trade deficit with China, which stood at over USD 50 billion in 2018-19. It has also raised concerns that domestic sectors like IT, agri and pharma do not get fair market access in China.

The Naukri JobSpeak Index for September stood at 2,279 registering a rise of 8 per cent compared to the year-ago period when it stood at 2,119.

Among debt-oriented schemes, liquid funds — with investments in cash assets such as treasury bills, certificates of deposit and commercial paper for shorter horizon — saw an outflow of Rs 1.41 lakh crore.

The Budget Estimates for 2020-21 will be provisionally finalised after the expenditure secretary completes discussions with other secretaries and financial advisers.

The new policy was done with a view to streamlining and speeding up the process, reducing the role of administrative ministries which often used to place hurdles in the path of major stake sales, officials said.

As per media reports, the government might seek an interim dividend of about Rs 30,000 crore from the RBI towards the end of the financial year so that it could meet the fiscal deficit target of 3.3 percent.

On Wednesday, Yes Bank in a filing to BSE had also stated that its liquidity coverage ratio was in excess of 125% as on 30 September, which is well above the minimum regulatory requirement of 100%.