Business highlights


PTI | New Delhi | Updated: 19-05-2022 20:57 IST | Created: 19-05-2022 20:57 IST
Business highlights
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Following are the top business stories at 2050 hours: DEL49 BIZ-LD STOCKS Sensex tanks over 1,400 pts as Wall Street rout triggers global market meltdown; investors poorer by Rs 6.71 lakh cr Mumbai: Equity indices sank in a sea of red on Thursday, joining a global market sell-off after Wall Street suffered its worst drubbing since mid-2020 on renewed fears of scorching inflation crimping economic recovery.

DEL86 BIZ-LD GST-SC-CENTRE SC ruling unlikely to alter GST regime; power to reject Council's recos never used: Revenue Secy New Delhi: The Supreme Court ruling on applicability of GST Council's decisions is unlikely to materially impact the one-nation-one-tax regime as it is only a reiteration of the existing law that gives states the right to accept or reject the panel's recommendation on taxation -- a power that none has exercised in the last five years, Revenue Secretary Tarun Bajaj said on Thursday.

DEL17 BIZ-LD COOKING LPG-PRICE HIKE LPG price hiked by Rs 3.5, crosses Rs 1,000 mark New Delhi: Cooking gas LPG price was on Thursday hiked by Rs 3.50 per cylinder, the second increase in rate this month following the firming of international energy rates.

DEL83 BIZ-LD RUPEE Rupee slips 3 paise to close at all-time low of 77.65/USD Mumbai: Sliding for the second straight session, the rupee dipped 3 paise to close at a fresh lifetime low of 77.65 against the US dollar on Thursday, weighed down by a negative trend in domestic equities and unabated foreign fund outflows.

DCM31 BIZ-HDFC BANK HDFC Bank carves out rural banking as separate vertical Mumbai: Largest private sector lender HDFC Bank on Thursday announced that it has carved out rural banking as a separate vertical and will be opening 1,060 branches in mofussil areas and semi-urban pockets as part of the increased focus in FY23.

DCM21 BIZ-LD MARUTI Maruti to invest Rs 18k cr in Sonipat plant to roll out 10 lakh units per annum in 8 years Gurugram: Maruti Suzuki India (MSI) on Thursday said its new manufacturing facility in Haryana, the company's third in the state, would reach peak production capacity of 10 lakh units per annum in the next eight years entailing a total investment of Rs 18,000 crore.

DCM40 BIZ-STOCKS-LD WEALTH Investors lose over Rs 6.71 lakh cr as markets crash New Delhi: Equity investors became poorer by over Rs 6.71 lakh crore on Thursday as domestic benchmark indices tumbled amid a global market meltdown.

DCM62 BIZ-SEBI-FORTIS Fortis Healthcare case: Sebi slaps penalties worth Rs 38.75 crore on 32 entities New Delhi: Capital markets regulator Sebi has imposed penalties totalling Rs 38.75 crore on 32 entities, including Fortis Healthcare Holdings, in a case related to diversion of funds of Fortis Healthcare Ltd (FHL) and misrepresentations to conceal the fraud.

DCM50 BIZ -JUTE-PRICE CAPPING Centre decides to lift price capping on raw jute New Delhi: The government on Thursday said it has decided to lift the price cap of Rs 6,500 per quintal on raw jute from May 20 this year.

DCM58 BIZ-WHEAT-OUTPUT Govt sees 3 pc fall in wheat output at 106.41 million tonnes in 2021-22 New Delhi: The country's wheat output is estimated to drop by about 3 per cent to 106.41 million tonnes in the 2021-22 crop year (July-June) from the previous year, agriculture ministry said in its latest estimate released on Thursday.

DEL58 BIZ-GOLD-PRICE Gold gains Rs 76; silver tumbles Rs 710 New Delhi: Gold in the national capital on Thursday gained Rs 76 to reach Rs 50,027 per 10 grams, supported by rupee depreciation, according to HDFC Securities.

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(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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