Enforcement Directorate transfers Rs 9,371 crore assets seized in Vijay Mallya, Nirav Modi and Mehul Choksi to Public Sector Banks
NEW DELHI: The Enforcement Directorate (ED) on Wednesday transferred seized assets worth Rs 9,371.17 crore in the cases related to Vijay Mallya, Nirav Modi, and Mehul Choksi, to Public Sector Banks (PSBs) and Central Government. Assets worth Rs 18,170.02 crore have so far been seized by the ED. “Enforcement Directorate (ED) not only seized assets […]
Jet Airways shares continue to fly high
NEW DELHI: Shares of Jet Airways extended their rally to Wednesday, gaining 5 per cent, after the National Company Law Tribunal (NCLT) gave its nod to the Jalan Kalrock Consortium’s bid for the airline. The stock jumped 4.98 per cent to Rs 104.40 — its upper circuit limit — for the day on both BSE […]
Sensex drops 283 points; Nifty ends below 15,700
NEW DELHI: Equity benchmark Sensex gave up early gains and tumbled 283 points on Wednesday following losses in index heavyweights Reliance Industries, HDFC and ICICI Bank. The 30-share BSE index ended 282.63 points or 0.54 per cent lower at 52,306.08. Similarly, the broader NSE Nifty declined 85.80 points or 0.54 per cent to 15,686.95. Kotak […]
FDI in April up 60 per cent to USD 4.44 billion
NEW DELHI: Foreign direct investment (FDI) into India increased by 60 per cent to USD 4.44 billion in April as against USD 2.77 billion in the same month last year, government data showed on Wednesday. Total FDI, including equity, re-invested earnings and capital, rose 38 per cent to USD 6.24 billion in April this year, […]
Cipla gets USFDA nod for inhalation product
NEW DELHI: Drug major Cipla on Wednesday said it has received final approval from the US health regulator for Arformoterol Tartrate Inhalation Solution, used to treat conditions like chronic bronchitis and emphysema, in the US market. The approved product is a generic version of Sunovion Pharmaceuticals Inc’s Brovana. The company has received final approval for […]
India’s second Covid-19 wave to impact infrastructure sectors, says Moody’s
NEW DELHI: India’s second coronavirus wave will affect its infrastructure sectors to varying degrees with power companies and ports better able to weather the impact of pandemic-induced disruptions compared with airports and toll roads, according to a new report by Moody’s Investors Service. Any further regional lockdowns will increase uncertainty over India’s economic recovery, said […]
Moody’s cuts India growth forecast for 2021 to 9.6% from 13.9% earlier
NEW DELHI: Moody’s Investors Service on Wednesday slashed India’s growth projection to 9.6 per cent for 2021 calendar year, from its earlier estimate of 13.9 per cent, and said faster vaccination progress will be paramount in restricting economic losses to June quarter. In its report titled ‘Macroeconomics India: Economic shocks from second COVID wave will […]