Business

The company said in a statement that it has signed an MoU with the Assam government for enhancing its exploration and production activities in the state.

The People's Bank of China on Friday said it would slash the amount of cash lenders must keep in reserve to its lowest level in 12 years, freeing up more than USD 100 billion for the stuttering economy.

The 30-share index was trading 147.20 points, or 0.40 per cent, lower at 36,834.57 at 0930 hours, while the broader Nifty rose 31 points, or 0.28 per cent, to 10,915.20.

Strategic options include divestment of stake in Coffee Day Global and other group company, according to a regulatory filing by the company.

Once India's biggest private carrier, Jet stopped flying in April after running out of cash, leaving thousands without jobs and pushing up airfares across the country.

The company's market valuation dropped Rs 6,644.88 crore to Rs 1,76,105.12 crore on the BSE. The company said it will halt manufacturing operations at the two facilities on September 7 and 9.

At 1:32 pm, shares of Maruti Suzuki were trading at Rs 5,891.35 apiece, down 2.6%, after hitting an intra-day low of Rs 5,820.70. The stock has corrected nearly 32% in the past one year.

Last week, Walmart's local e-commerce unit Flipkart said it had cut down on similar kinds of plastic use by 25% and planned to move entirely to recycled plastic consumption in its own supply chain by March 2021.

After swinging over 200 points in the first 15 minutes, Sensex was trading 11.13 points, or 0.03 per cent, lower at 36,551.78 at 0930 hours, while the broader Nifty slipped 4.50 points, or 0.04 per cent, to 10,793.40.

Forex traders said the US tariffs on imports from China took effect on Sunday and were followed later by Beijing's retaliation. Following this the domestic currency was under pressure.

In a report titled 'India: More policy support likely after weak Q2 growth', DBS said that expecting the trajectory to improve in FY21, the growth is likely to close in on 7 per cent with a 6.8 per cent growth pace.

The Union minister’s statement comes a day after the Central Statistical Office said that India's quarterly GDP has come down to 5 per cent as compared to 5.8 per cent in the last quarter of the financial year.

Anshula Kant was appointed as the managing director and chief financial officer of the World Bank.

Punjab National Bank, Oriental Bank of Commerce and United Bank will merge to form India’s second-largest bank with Rs 17.95 lakh crore business.

Punjab National Bank, Oriental Bank of Commerce and United Bank will merge to form India’s second-largest bank with business worth Rs 17.95 lakh crore and 11,437 branches.

Fresh slippages have also come down and as a result, the system-level provision coverage ratio has jumped to 60.9 percent during the period.