Business

The three companies are jointly liable to pay dues of over Rs 1 lakh crore, but they have informed the Department of Telecom (DoT) of making only partial payment, their representatives said.

The 30-share BSE Sensex fell by 202.05 points or 0.49 per cent to end at 41,257.74, with 22 of its constituents closing with losses.

Forex traders said rupee traded in a narrow range as strengthening of the US dollar weighed on the local unit.

The 30-share BSE index was trading 233.20 points or 0.56 per cent higher at 41,692.99, and the broader NSE advanced 59.85 points, or 0.49 per cent, to 12,234.50.

Ashok Leyland shares touched an intra-day low of Rs 77.90 apiece on Thursday but later pared losses to trade at Rs 80.30, down 1.3%, as brokerages remained positive on the outlook of the company.

The airline is offering one million seats on discounted fares from February 11 to February 14. The sale is valid for travel from March 1 to September 30, a company statement said.

In his Budget speech, state Finance Minister Amit Mitra announced free electricity for consumers with quarterly consumption up to 75 units and also a scheme to build houses for all permanent tea garden workers.

In 2016-17, 2017-18 and 2018-19, the debt figures for disinvestment-bound Air India were Rs 48,447 crore, Rs 55,308 crore and Rs 58,255 crore respectively, Puri said.

According to details shared by the minister, five public sector units owe Department of Telecom over 99 per cent of the total demand raised.

The company also brought back its Sierra brand of SUVs by showcasing its Sierra concept electric vehicle, which is again built on the ALFA platform.

The ministry has directed its western region head to inspect the books of Zee Entertainment due to allegations of corporate governance lapses and recent resignation of a few independent directors.

Forex traders said rupee is trading in a narrow range as market participants are awaiting cues from the Reserve Bank of India's monetary policy outcome.

China’s Shanghai Composite gained half a per cent after tumbling more than 7% on Monday. Japan’s Nikkei, Hong Kong’s Hang Seng and South Korea’s Kospi also rose up to 2%.

Asian Paints was the top gainer in the Sensex pack, rallying 6.32 per cent, followed by Nestle India, HUL, Bajaj Auto, IndusInd Bank, Tata Steel, Maruti and PowerGrid.

To attract setting up of foreign offshore funds to India, the income tax provisions were relaxed to provide that merely if the fund manager is based in India, such fund would not be liable to tax in India.

Accelerated development of highways will be taken up with 2,500 km access controlled highways and 9,000 km of economic corridor.