Business

The Supreme Court on Friday ordered ArcelorMittal SA to stop a payment to lenders to buy Essar Steel, a lawyer involved in the case said, delaying billionaire Lakshmi Mittal's entry into the country's fast-growing steel market.

Bankruptcy court had approved ArcelorMittal's $6 billion bid

Union Minister Suresh Prabhu on Friday directed Civil Aviation Secretary Pradeep Singh Kharola to review issues concerning Jet Airways, which has been operating with less than 10 planes. "Directed Secretary MoCA to review issues related to Jet Airways. Asked him to take necessary steps to minimise passenger inconvenience and ensure their

Infosys' board of directors today approved performance-based restricted stock units (RSUs) worth Rs 13 crore for the company's managing director and CEO, Salil Parekh. The grant of stock units to Mr Parekh is for financial year 2020, the IT major said.

Infosys' net profit in the January-March quarter rose 13 per cent to Rs 4,074 crore compared with Rs 3,609 crore in the previous quarter, the company said on Friday. Strong growth in the financial services segment and large deal wins boosted the profitability for the IT major. Infosys net profit in March quarter s

Domestic stock markets started Friday's session on a higher note ahead of the earnings announcements by information technology majors TCS and Infosys. The S-P BSE Sensex rose as much as 114.00 points to 38,721.01 while the NSE Nifty moved to 11,627.20, up 30.5

Halting its three-day winning run, the rupee on Friday closed 25 paise lower at 69.17 to the US dollar as forex traders weighed rising crude oil prices. Besides, as forex dealers said, there was concern in the market after reports surfaced that the Supreme Court on Friday restrained Arcelor Mittal from acquiring Essar Steel, which in turn

Domestic stock markets closed in the green on Friday led by gains in FMCG, auto and banking stocks. The S-P BSE Sensex ended 160.10 points, or 0.41 per cent, higher at 38,767.11, while the broader NSE Nifty settled at 11,643.45, up 46.75 points or

Public Provident Fund (PPF) account, a retirement planning-focused instrument, offered by banks such as State Bank of India (SBI) and post offices enjoys an "exempt, exempt, exempt" (EEE) tax status. This means that the returns, the maturity amount and the

Industrial output growth slowed to a 20-month low of 0.1 per cent in February, mainly due to contraction in the manufacturing sector, official data showed Friday. Factory output, as measured in terms of the Index of Industrial

Employees' Provident Fund Organisation or EPFO, which is the nodal agency to monitor EPF (Employees' Provident Fund) contributions, allows subscribers to submit their account's nomination details online via its official website,

Mangalore Refinery and Petrochemicals Ltd plans to shut a 60,000 barrels per day (bpd) crude unit and some secondary units for maintenance from mid-April for about a month, a company source said.

MRPL, a subsidiary of the country's top explore Oil and Natural Gas Corp, operates a 300,000 bpd refinery in southern India.

"Apart from regular

Annual retail inflation in the country picked up in March to 2.86 per cent compared with 2.57 per cent in February, government data showed on Friday. Analysts polled by news agency Reuters had forecast that retail inflation will accelerate in March on slightly higher food prices but remain under the Reserve Bank of India's medium-term target of 4

The domestic stock markets broke out of the range-bound trading in afternoon trade ahead of the release of key macroeconomic data and quarterly results of IT majors TCS and Infosys. The S-P BSE Sensex rose as much as 195 points to intraday high of 38,802 and the NSE Nifty50 barometer of

Jet Airways has cancelled all international flights till Friday morning due to scarcity of funds. Flights to Amsterdam, Paris and London have been cancelled for two days. Jet Airways informed the exchanges late on

The Director General of Civil Aviation (DGCA) and the Civil Aviation Secretary called for an urgent meeting on Jet Airways with Nripendra Mishra, principal secretary to the Prime Minister Narendra Modi on Friday, according to sources. Government

Most Asian currencies edged lower against a stronger dollar on Friday, as slower growth expectations by Singapore's central bank reinforced concerns about the health of the global economy.

The Monetary Authority of Singapore (MAS) on Friday kept its monetary settings unchanged after two rounds of tightening, as policymakers expect the city-state's

The Supreme Court on Thursday reserved its order on a contempt plea filed by Japanese pharma company Daiichi Sankyo against the Ranbaxy's Singh brothers over non-payment of Rs 3,500 crore in an international arbitration award.

The bench

Consumer inflation stood at 2.86 per cent in March, government data showed on Friday. That marked picking up of consumer inflation to the previous month, in which retail inflation had come in at 2.57 per cent, according to the Ministry of Statistics statement.

The government said on Friday that it would investigate Jet Airways' ability to fly, a day after the cash-strapped airline suspended most of its international flights. Civil Aviation Minister Suresh Prabhu said in

The government is monitoring the operational situation at Jet Airways closely to ensure the airline's compliance with overseas flying rules, official sources said on Thursday. According to the sources, the airline is currently operating only about

Jet Airways has cancelled its international operations till April 15, reported news agency Asian News International (ANI) quoting a spokesperson of the private airline on Friday. "The airline is working to minimise guest inconvenience using its round the

USD Vs INR today: The rupee declined to as much as 69.24 against the dollar in early trade on Friday, reported news agency Press Trust of India. That marked a depreciation of 32 paise - around 0.5 per cent - against the greenback

The rupee on Thursday climbed 19 paise to close at 68.92 against the US dollar, also marking a third straight session of gains, driven by sustained foreign fund inflows. Besides, weakness in the greenback against major global currencies and easing crude prices aided the

India was a net importer of steel during the 2018/19 fiscal year, the first time in three years, as the country lost market share among its traditional steel buyers and imports jumped on demand for higher-quality steel domestically.

The country's finished steel

Indian Railway Catering and Tourism Corporation (IRCTC), the state-run travel portal operator under Ministry of Railways, apart from providing ticket booking services, also offers travel packages. IRCTC offers these holiday packages for various tourist destinations

In a new twist to the Jet Airways saga, its erstwhile promoter Naresh Goyal is said to be planning to bid for the airline from which he had to step down as chairman last month only.

This is being seen as a dramatic comeback, when the former

Tata Consultancy Services (TCS) on Friday reported a net profit of Rs 8,126 crore for the quarter ended March 31, 2019, beating analysts' estimates. That marked a growth of 0.3 per cent from its record net profit of Rs 8,105 crore reported for the previous quarter. A strong performance in its banking, financial services and insurance

Budget airline SpiceJet said on Friday that it planned to lease a "first lot" of 16 Boeing Co 737-800 aircraft to help fill a gap in aviation capacity that ratings agency ICRA said has pushed up fares by 30 to 40 per cent since September.

SpiceJet

Naresh Goyal, founder of the now cash strapped Jet Airways, has pledged 26.01 per cent stake in Jet as security for loans from the Punjab National Bank (PNB).

The company told in a BSE filing on Thursday that Goyal had pledged 2.95 crore shares or 26.01 per cent of his stake in Jet with the PNB.

Mr Goyal quit last month as the chairman of