Business

Shares of Indiabulls Housing Finance surged nearly 25% after the Reserve Bank of India (RBI) in an affidavit to the court said the company has not violated any law in its lending practices.

At 54.5 in February, the headline seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) held close to January's near eight-year high of 55.3, signalling improvement in operating conditions across the sector.

The SBI Card shares are being offered in a price range of Rs 750-755 a piece, while the lot size has been fixed at 19 equity shares.

The Manila-headquartered multilateral funding agency has said the funds will be available for all the member countries to update and implement their pandemic response plans.

Evidence was also gathered for the introduction of unaccounted funds as bogus share premium in one of the group companies.

Out of the total revenue expenditure, over Rs 4.71 lakh crore is on account of interest payments and over Rs 2.62 lakh crore is on account of major subsidies.

An activist who filed an RTI application claimed that the reservation policy of the Indian Railways is discriminatory and should be discontinued at the earliest to give relief to passengers and to stop unfair revenue generation.

HDFC Bank Ltd shares slipped 1% after managing director Aditya Puri sold 12.52 lakh shares of the bank during 11-12 February.

Nirmala Sitharaman, who was the lead speaker in the meeting, said a coordinated policy solutions are needed to curb the growing inequality that has slowed down the pace of inter-generational mobility.

The development would attract higher foreign flows as many overseas funds are mandated to track global indices.

Coal India shares touched a high of Rs 178.55 apiece on Wednesday. The stock closed the session later at Rs 177.80, up 3.5% from its previous close.

The Union minister of state for finance also assured that the interests of entrepreneurs paying taxes honestly will be protected and emphasised the need to curb frauds in the tax system.

RBI Governor Shaktikanta Das said the fallout of the outbreak of novel coronavirus in China needs to be closely monitored by 'every policymaker' to tailor a swift response.

The minister also assured the employees at Air India that their requirements would be foremost in the airline and factored in whatever arrangement is decided with the successor.

A two-member bench headed by Chairman Justice S J Mukhopadhaya, said that JSW Stwel will be immuned from the acts done by the former promoters of the Bhushan Power & Steel Ltd.

The telecom department on February 14 began issuing orders asking firms such as Bharti Airtel and Vodafone Idea to clear past dues immediately.