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Jan 04, 2018 08:52 PM IST | Source:

News highlights of the day: BSE & NSE ask members to trade cautiously in 200 illiquid stocks

This blog will keep track of key global and local developments impacting business and markets through the day. Important local and global political developments will also find resonance here.

  • Jan 04, 08:13 PM (IST)

    BSE & NSE ask members to trade cautiously in 200 illiquid stocks

    With an aim to safeguard investors' interest, leading stock exchanges — BSE and NSE — have advised their members to take extra caution while trading in over 200 illiquid stocks.

    Illiquid stocks are those that cannot be sold easily because they see limited trading. These stocks pose higher risks to investors because it is difficult to find buyers for them as compared to frequently traded shares.

    In similar-worded circulars, both the exchanges advised their trading members "to exercise additional due diligence while trading in these securities either on own account or on behalf of their clients".

  • Jan 04, 04:10 PM (IST)

    Here are the top headlines at 4 pm from Moneycontrol News' Sakshi Batra


  • Jan 04, 08:51 PM (IST)

    That's all for today, readers. Thanks for staying on with our coverage of the day's action. Your enthusiasm encourages us to better our coverage every day. Do come back tomorrow for more news, views and insights.

  • Jan 04, 08:46 PM (IST)

    Haryana govt to give subsidy of Rs 2 per unit in power bills of micro units

    The Haryana government on Thursday issued a notification to give subsidy of Rs 2 per unit on electricity bills to industries falling in the micro and small enterprises category.

    The subsidy to be given under Enterprises Promotion Policy-2015 will continue for three years from the date of release of power connection, Industries and Commerce Minister, Vipul Goel said here.

    He said the state government had implemented the Enterprises Promotion Policy-2015 for balanced industrial development.

  • Jan 04, 08:44 PM (IST)

    Harassment at workplace: SC seeks reply from Centre, states

    The Supreme Court today sought response from the Centre and state governments on a plea for the protection of women from sexual harassment at workplace, cases of which the petitioner claimed were on the rise.

    A bench headed by Chief Justice Dipak Misra was hearing a PIL which has sought immediate and proper implementation of the provisions of the Sexual Harassment At Workplace (Prevention, Prohibition) Act and for setting up redressal mechanism.

    The bench, which also comprised justices A M Khanwilkar and D Y Chandrachud, was told by the petitioner that even the local district officers and complaints committees were not being appointed and the victims did not have a forum to file complaints even as such cases were on the rise.

  • Jan 04, 08:42 PM (IST)

    Mergers to leave 15% of GTL towers idle, company seeks Rs 2,000 cr compensation from tenants

    Leading independent telecom tower operator GTL Infra on Thursday said the ongoing mergers in the industry will lead to an idling of over 15 percent of its masts in use, for which it has sought Rs 2,000 crore from the telcos for early exits of tenancies.

    It has sought Rs 2,000 crore in compensation for exiting or reducing their tenancies before the tenor following mergers, GTL told exchanges in a regulatory filing on Thursday.

    In an exchange filing, the city-headquartered company fighting a debt overhang said the Rs 2,000 crore will be used to pare its debt by half to Rs 2,000 crore and will also lead to a gain of Rs 150 crore towards debt servicing annually.

  • Jan 04, 08:39 PM (IST)

    ATM operators see Rs 120 cr bounty in Rs 200-note recalibration

    Banks have started recalibrating the cash vending machines (ATMs) to dispense the new Rs 200 banknotes which were introduced last August.

    There are nearly 2.4 lakh automatic teller machines (ATMs), which includes around 30,000 cash recyclers. A cash recycler machine can dispense and accept cash.

    According to industry experts, the overall recalibration process may cost banks Rs 100-120 crore.

  • Jan 04, 08:37 PM (IST)

    BMW Group India posts 25% sales growth in 2017 at 9,800 units

    BMW Group India on Thursday reported 24.66 percent increase in car sales at 9,800 units in 2017 as against 7,861 units in the previous year.

    The BMW brand sold 9,379 units last year as against 7,500 units in 2016, a growth of 25 percent, while Mini posted a growth of 17 percent at 421 units as compared to 361 units in the previous year, BMW Group India said in a statement.

    The group's motorcycle division, BMW Motorrad India sold 252 units last year, it added.

  • Jan 04, 08:34 PM (IST)

    Apparel and textiles park to come up near Patna: Sushil Modi

    An apparel and textiles park will be set up on the outskirts of the state capital for which a land tract spread over more than 100 acres has been earmarked,
    Bihar Deputy Chief Minister Sushil Kumar Modi said here on Thursday.

    Speaking after the inauguration of a three-day fair organized by the Bihar Readymade Garments Association, Sushil Modi said 115 acres of land have been earmarked in Bihta for the proposed park.

    The park will be set up as part of the state government's policy to promote textiles, leather, Information Technology and food processing, he said.

  • Jan 04, 08:32 PM (IST)

    Punjab National Bank's total business crosses Rs 11-lakh crore

    Public sector lender Punjab National Bank (PNB) said it has crossed a total business turnover of Rs 11 lakh crore and going forward profit will be the main focus of the bank.

    "Punjab National Bank, the 123-year-old largest nationalised bank, has achieved another milestone by crossing its total business of Rs 11 lakh crore," the bank said in a regulatory filing.

    The country's second-largest public sector lender said that in line with the rationalisation call by the government, the bank is in the process of rationalisation of some of its branches.

  • Jan 04, 08:30 PM (IST)

    Parliamentary panel proposes a cap on airfares

    The parliamentary panel on aviation has recommended a cap on the airline fares. Apart from the upper limit on airfares, the panel has proposed that airlines must not be allowed to charge more than 50 percent of the base fare on cancellation, and that fare must be refunded to passengers.

    The panel said that the air ticket pricing mechanism of developed countries must not be applicable in India, according to CNBC-TV18, and that the reduction in the aviation turbine fuel (ATF) is not being passed on the consumers in the form of reduced airfare.

    The panel particularly pointed out the likes of budget airlines such as IndiGo for not doing so. It also put Jet Airways under the scanner, citing customer complaints.

  • Jan 04, 08:29 PM (IST)

    India vs South Africa first Test preview: Virat Kohli's men have a chance to make history

    India vs South Africa first Test preview: Virat Kohli's men have a chance to make history

    There have been reports that the usual bouncy Newlands track won't be the same due to the worst drought that has hit the area.

  • Jan 04, 08:27 PM (IST)

    No proposal to review 'Most Favoured Nation' status to Pakistan: Government

    There is no proposal to review the 'Most Favoured Nation' (MFN) status to Pakistan, the government said on Thursday.

    In a written reply to a question, Minister of State for External Affairs MJ Akbar said India has accorded MFN status to all WTO members, including Pakistan, in accordance with the provisions of the General Agreement on Tariffs and Trade.

    "It is unfortunate that Pakistan has not fulfilled its international obligations in this regard, so far," the minister told the Rajya Sabha in his reply.

  • Jan 04, 08:25 PM (IST)

    Delhi BJP to launch city-wide campaign to show AAP's 'failure'

    Delhi BJP has decided to launch a city-wide campaign against alleged failures of the Arvind Kejriwal-led government by galvanising its local teams at ward levels.

    The core committee of the party chaired by Delhi BJP president Manoj Tiwari which also included party MPs from Delhi and other senior leaders, discussed the issues in a meeting held at Union minister Harsh Vardhan's residence last night.

  • Jan 04, 08:23 PM (IST)

    Foreign Minister Sushma Swaraj discusses connectivity, security issues with Thai counterpart

    External Affairs Minister Sushma Swaraj on Thursday discussed a range of issues of connectivity, security and cultural cooperation with her Thai counterpart here to keep up with the growing momentum of bilateral ties.

    Swaraj is on a two-day visit to Thailand. During the first day of her visit she held extensive talks with Thailand Foreign Minister Don Pramudwinai.

  • Jan 04, 08:21 PM (IST)

    Pune-startup EarlySalary raises Rs 100 crore led by Eight Roads Ventures

    Pune-startup EarlySalary raises Rs 100 crore led by Eight Roads Ventures

    The company allows salaried individuals to avail instant loans for about 30 days. Last September, the company had raised a debt of about USD 779,000 from IFMR Trust.

  • Jan 04, 08:19 PM (IST)

    Supreme Court asks Centre to file status report in Aircel-Maxis deal case

    The Supreme Court today directed the Centre to file a status report on the probe conducted by Enforcement Directorate officer Rajeshwar Singh in the Aircel-Maxis deal case.

    The apex court said the Centre should apprise it about the stage of the pending investigation in the case and what needed to be done.

    "Let a status report be filed by the Union of India before us with respect to the further investigation that has been made. List the matter, as prayed, on January 23," a bench of justices Arun Mishra and MM Shantanagoudar said.

  • Jan 04, 08:10 PM (IST)

    Lalu’s cracker! It’s too cold in jail; judge asks him to play tabla

    Even in the midst of proceedings to decide the quantum of sentence in a fodder scam involving RJD chief Lalu Prasad, the leader did not miss to crack a funny when he told the judge that “it was very cold in jail” to which the judge replied play ‘tabla’.

    A special court earlier deferred the sentencing of Prasad in the fodder scam case till Friday when it is likely to decide whether to pronounce the quantum of punishment over video conference or in court.

    Prasad, known for his funny liners, said in the court, “It is very cold here (in jail)”.

    CBI Special Court Judge Shiv Pal Singh, hearing the case, was quick to reply, “Then, play tabla (musical instrument)”.

  • Jan 04, 08:04 PM (IST)

    Yes Bank, Nearby Tech bring cardless-pinless ATM service

    Fintech startup Nearby Technologies has tied up with Yes Bank to provide Aadhaar- enabled cardless and pinless ATM service by which customers can deposit or withdraw money at retailers’ place.

    Using the PayNEARBY mobile application on a smart phone, a retailer can become an Aadhaar ATM/Aadhaar Bank branch for cash withdrawals and deposits by a customer, Yes Bank said in a release.

    Yes Bank and Nearby worked closely with the National Payments Corporation of India (NPCI) to launch this service.

  • Jan 04, 07:55 PM (IST)

    Maharashtra rights panel seeks report from BMC on Kamala Mills fire

    The Maharashtra State Human Rights Commission (MSHRC) asked on Thursday the city civic body to submit a report on the last month's devastating fire at the Kamala Mills Compound here that killed 14 people.

    The panel directed Brihanmumbai Municipal Corporation (BMC) Commissioner Ajoy Mehta to submit the report on the December 29 tragedy on or before January 29.

    The commission was hearing a complaint filed by advocate Vivekanand Gupta, seeking a direction to the BMC to carry out an extensive inquiry into the incident.

  • Jan 04, 07:53 PM (IST)

    Rahul Gandhi mocks government over 'Make in India' initiative

    Congress President Rahul Gandhi on Thursday used figures of declining investments to taunt the Narendra Modi government over its 'Make in India' initiative, terming the numbers an update on the "Fake in India programme".

    "Guys a quick update on the Fake in India program," he tweeted, using the hashtag "#FakeinIndia" with it.

    He also tagged a news report with his tweet that claimed fresh investments in India plunged to a 13-year low as the number of stalled projects rose in the December quarter.

  • Jan 04, 07:53 PM (IST)

    Rahul Gandhi mocks government over 'Make in India' initiative

    Congress President Rahul Gandhi on Thursday used figures of declining investments to taunt the Narendra Modi government over its 'Make in India' initiative, terming the numbers an update on the "Fake in India programme".

    "Guys a quick update on the Fake in India program," he tweeted, using the hashtag "#FakeinIndia" with it.

    He also tagged a news report with his tweet that claimed fresh investments in India plunged to a 13-year low as the number of stalled projects rose in the December quarter.

  • Jan 04, 07:49 PM (IST)

    RFP floated for assembly, testing of satellites: Centre

    A Request for Proposal has been floated for assembling, integration and testing of satellites after an evaluation of the responses of the expression of interest for the purpose, involving the private sector, Union minister Jitendra Singh informed the Rajya Sabha today.

    The reply from the minister of state in the PMO, Atomic Energy and Space came after he was asked whether the Indian Space Research Organisation (ISRO) has issued any tender for assembly, integration and testing of 30-35 satellites.

    "An Expression of Interest (EOI) was floated for assembling, integration and testing of satellites involving private sector for building satellites of different mass," he said.

  • Jan 04, 07:41 PM (IST)

    Kerala CM Pinarayi Vijayan praises Kim Jong-un's 'tough' anti-US stand 

    Veteran CPIM leader and Kerala chief minister Pinarayi Vijayan has lavished praise on North Korean leader Kim Jong-un for putting up 'tough' resistance against 'imperialist' America better than the Communist-ruled China.

    Addressing a CPI(M) district committee meet at Kozhikode yesterday, he said North Korea was showcasing a better example in defending 'imperialist' forces.

    The CPI(M) polit bureau member also said there was a general criticism that China's fight against imperialist forces was not living up to the expectations of the people.

  • Jan 04, 07:38 PM (IST)

    Jaypee aims to complete 24K flats by 2020 at Rs 8,000 crore cost
    The debt-ridden Jaypee group is targeting to complete the construction of pending 24,000 flats in Noida by 2020 at a cost of about Rs 8,000 crore and deliver it to home buyers, a senior company official said today.

    Crisis-hit Jaypee group needs Rs 8,000 crore to complete incomplete flats, of which Rs 6,000 crore would come from home buyers while another Rs 2,000-2,500 crore needs to be infused, Jaypee advisor Ajit Kumar said.

    In 2007, Jaypee group started the development of 32,000 flats and plots in its township Wish Town at Noida, of which nearly 8,000 units have been delivered so far.

  • Jan 04, 07:31 PM (IST)

    RBI asks banks to refrain from filing Jaiprakash Associates in the insolvency court for now

    RBI asks banks to refrain from filing Jaiprakash Associates in the insolvency court for now

    Jaypee Infratech is among 12 large stressed companies in the first list referred to banks by RBI to start bankruptcy proceedings in June 2017.

  • Jan 04, 07:28 PM (IST)

    India probes report on breach of Aadhaar database

    India on Thursday began investigating a report that access to its database of the identity details of more than 1 billion citizens was being sold for just USD 8 on social media, in what could be one of the giant programme’s biggest security breaches.

    The Tribune newspaper said it had been able to buy login credentials to the Aadhaar database, allowing it to acquire information such as the names, telephone numbers and home addresses of millions of people.

    The paper said it bought access for as little as 500 rupees (USD 7.89) from someone on a WhatsApp social media group.

  • Jan 04, 07:27 PM (IST)

    File complaint against Mamata Banerjee in SC: BJP to NRC authorities

    The BJP on Thursday urged the authorities involved with the National Register of Citizens in Assam to file a complaint in the Supreme Court against West Bengal Chief Minister Mamata Banerjee for alleging that the Centre was “hatching a conspiracy” to drive out Bengalis from the northeastern state.

    Assam BJP chief Ranjeet Kumar Dass claimed Banerjee made the comment to lure Bengali-speaking people towards the Trinamool Congress, as the saffron party was strengthening foothold in West Bengal.

    “We appeal to the NRC authorities to register a case of contempt of the Supreme Court,” he told a press conference here.

  • Jan 04, 07:23 PM (IST)

    Andhra Pradesh govt gears up to present Rs 2 lakh crore FY19 mega budget

    With an eye on the 2019 general elections, the Telugu Desam Party (TDP)-led government in Andhra Pradesh is gearing up to present a jumbo budget for Rs 2 lakh crore in 2018-19, a staggering rise of over Rs 43,000 crore compared to the ongoing fiscal, the highest probable jump in one year.

    Finance Minister Yanamala Ramakrishnudu announced in Amalapuram this afternoon that they were preparing budget proposals for Rs 2 lakh crore for the next financial year despite reduction in state revenue owing to GST.

    The budget for the next fiscal is expected to be presented in February. The Lok Sabha polls are due in the first half of 2019, a year in which Andhra Pradesh also faces assembly elections.

  • Jan 04, 07:16 PM (IST)

    Lok Sabha passes bill to hike salaries of of SC, HC judges
    A bill to hike the salaries of judges of the Supreme Court and the 24 high courts by over two folds was passed by the Lok Sabha on Thursday.

    Once the bill is cleared by Parliament and becomes a law, the Chief Justice of India will get a monthly salary of Rs 2.80 lakh from the present Rs one lakh. Similarly, judges of the Supreme Court and chief justices of the high courts will draw a monthly salary of Rs 2.50 lakh from the current Rs 90,000.

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