The Indian government on Monday decided to export non-basmati white rice to Mauritius through National Cooperative Exports Ltd., according to a notification by the Director General of Foreign Trade.
The authorities have permitted export of 14,000 million tonnes of non-basmati white rice to Mauritius, the notification said.
Tesla Chief Executive Officer Elon Musk is expected to visit India between April 20 and 22, according to people with knowledge of the matter. Musk is expected to meet several dignitaries, including Prime Minister Narendra Modi. According to the details of the planned visit, Musk would also meet other government officials, including Union Minister of Commerce and Industry Piyush Goyal, the people said.
Nifty ended lower on Friday dimming hopes of an earlier rate cut in the U.S. A dip below the key 22,300 support level will fuel further selling, according to Vaishali Parekh.
"Once we saw Nifty breaking 22,600 level, we advised our clients to exit as we are looking at a downside of 22,300, which is a prominent support level. If it breaks, we may see further selling," Parekh, vice president, technical research at Prabhudas Lilladher Pvt., told NDTV Profit.
The Indian Income Tax Department issued a clarification on the India-Mauritius DTAA Amendment Applicability on Friday. It said that the protocol is yet to be ratified and notified under the section 90 of the Income-tax Act.
Delhi Chief Minister Arvind Kejriwal approached the Supreme Court on Wednesday for bail in the money-laundering case related to the excise policy, an NDTV report said. The Aam Aadmi Party convener was denied bail a day before by the Delhi High Court. The petition was sent via mail on Tuesday night itself, the report quoted AAP as saying.
Kejriwal was detained by the Enforcement Directorate on March 21, in connection with the alleged liquor policy scam.
TPG Asia VII Sf Pte, the public shareholder of Five-Star Business Finance Ltd., sold 1.93% stake in the company for Rs 425.2 crore. The shareholder sold 56.54 lakh shares at Rs 752.02 apiece, according to bulk deal data.
Details of the buyers were not disclosed. In December, the US based private equity firm held 11.22% stake in the company.
Canara Bank Ltd., Voltas Ltd., and Oil India Ltd. are among the 18 stocks slated to be added to the MSCI's India Index during the rebalancing announcement scheduled for after market hours on May 14, according to JM Financial Institutional Securities.
The brokerage expects that these changes will result in an inflow of approximately $2.7 billion into the index.
Ride-hailing giant Ola said it has "reassessed priorities" and has decided to shutter its overseas ride-hailing business altogether from three international markets, viz., the UK, Australia and New Zealand, by the end of this month, to concentrate on the domestic market.
Bandhan Bank Ltd.'s Chandra Shekhar Ghosh will step down as the chief executive officer and managing director after his tenure ends.
Ghosh will cease to be the private sector bank's CEO and MD after the completion of his services on July 9, according to an exchange filing on Friday. He has been serving as its CEO and MD since July 10, 2015.
In a letter dated April 5 to the board of directors, Ghosh feels that the time has now come for him to assume a larger strategic role at Bandhan group level.
The Reserve Bank of India reiterated that there is no change in norms related to exchange-trade rupee derivatives, while underlining regulations under Foreign Exchange Management Act, 1999.
"This is something which every market player knew ... If you read the past circulars very carefully, it has been always there. So, therefore, if somebody says it is new, it is not correct," Governor Shaktikanta Das said in the post-policy media briefing on Friday.