Graphite India slips 3% on operations closing order from KSPCB

Shares of Graphite India slipped 3 percent intraday Tuesday after company received KSPCB directions to close the operations at its plant. Karnataka State Pollution Control Board (KSPCB) issued directions to close the operations of the industry at its Whitefield, Bengaluru plant forthwith and until final orders, as per company release. Towards compliance of the aforesaid […]

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Jet Airways may raise Rs 4,000cr via rights issue if Etihad open offer falls through

Debt-ridden Jet Airways may consider a rights issue to raise Rs 4,000 crore if market regulator Securities and Exchange Board of India (SEBI) doesn’t exempt Abu Dhabi-based Etihad Airways from making an open offer in lieu of raising its stake in the carrier, sources told Mint. As part of the resolution plan for Jet Airways, […]

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Gold steady near 10-month high; palladium hits record

Gold prices were steady near 10-month peaks on Tuesday as the dollar held little changed and markets awaited clarity on US-China trade talks, while palladium struck a record high on supply fears. FUNDAMENTALS Spot gold was little changed at $1,326.10 per ounce as of 0048 GMT, after touching a 10-month high of $1,327.64 an ounce […]

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RBI to transfer Rs 28,000 cr interim surplus to government

The Reserve Bank of India (RBI) in its board meeting on February 18 decided to transfer Rs 28,000 crore as interim dividend to the government for the period of July to December 2018. “Based on a limited audit review and after applying the extant economic capital framework, the Board decided to transfer an interim surplus […]

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Ambuja Cements fourth-quarter standalone profit jumps over 58%

India’s Ambuja Cements Ltd on Monday posted a 58.8 percent jump in fourth-quarter profit, exceeding analysts’ estimates, as it logged higher cement sales and a tax benefit. Standalone profit, which includes a joint operation accounted on a proportionate basis, came in at 5.37 billion rupees ($75.22 million) for the quarter ended December 31, from 3.38 […]

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JSPL gains 3% on order win from Indian Railways

Shares of Jindal Steel & Power (JSPL) gained 3 percent intraday after company bags additional order from Indian Railways. The company has been awarded an additional order for supply of 30,000 tonnes, in addition of bagging its first ever order from Indian Railways for supply of close to 1 lakh tonne in 2018. The additional […]

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Tech Mahindra gains 3% ahead of board meeting to consider share buyback proposal

Tech Mahindra shares gained nearly 3 percent in the morning on February 18 ahead of its board meeting to consider share buyback proposal later this week. The stock was quoting at Rs 807.20, up Rs 6.50, or 0.81 percent on the BSE, at 0940 hours IST. “The meeting of the board of directors of the […]

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Withdrawing Pakistan’s MFN status will divert trade

New Delhi: With India finally deciding to withdraw the unilateral non-discriminatory market status it granted to Pakistan in 1996 — popularly known as Most Favoured Nation (MFN) status in World Trade Organization (WTO) parlance — after the Pulwama terror attack, the already weak trade links between the two neighbours in South Asia is set to […]

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Apollo Hospitals founders may exit Apollo Munich Health Insurance

Chennai: Prathap C. Reddy and his family, founders of Apollo Hospitals Enterprise Ltd, plan to sell their holdings in an insurance venture with Munich Re AG to repay debt, people with knowledge of the matter said. The family is seeking to sell its entire holding of 41% in Apollo Munich Health Insurance Co., for about […]

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Jet Airways climbs 7% on bank-led provisional resolution plan, posts loss in Q3

Jet Airways shares rallied 7.5 percent in morning on Friday after board approval for bank-led provisional resolution plan. The stock was quoting at Rs 238.40, up Rs 12.60, or 5.58 percent on the BSE, at 09:57 hours IST. “The bank led provisional resolution plan proposes restructuring under the provisions of the ‘RBI Circular’ in order […]

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