Business

The merged entity will have a combined market share of 6.4 percent in the non-life insurance industry, with 308 branches and a business of Rs 10,807 crore.

Apart from banks, the airline also owes over Rs 10,000 crore to its hundreds of vendors, primarily aircraft lessors and over Rs 3,000 crore to around 23,000 employees who have not been paid since March.

NCLT is scheduled to hear insolvency petitions filed by two operational creditors of Jet Airways -- Shaman Wheels Pvt Ltd and Gaggar Enterprises Pvt Ltd -- on June 20.

Higher Indian tariffs on US goods could impact growing political and security ties between the two nations.

The S&P BSE Sensex was down 155.08 points, or 0.39%, to 39,586.28 at 2:55pm, while the Nifty 50 index fell 45.55 points, or 0.38%, to 11,868.50.

The consumer price index (CPI) based retail inflation for April was revised marginally upwards to 2.99 per cent from the earlier estimate of 2.92 per cent, data released by the Central Statistics Office (CSO) showed.

The finance ministry has put in place a transition mechanism which allows taxpayers to try the new return filing forms during July-September.

India's GDP data has been under scrutiny after the NDA government brought about a few changes in the calculation of GDP growth.

Analysis of return filing shows that as many as 68,041 businesses have reported a turnover of over Rs 50 crore and accounted for 66.6 per cent of total GST paid in 2017-18.

According to the bank's plea, the RBI had initially asked it to only dilute promoter shareholding of its paid-up capital. However, the impugned letter sought dilution of paid-up voting equity capital.

Top losers in the Sensex pack included IndusInd Bank, Yes Bank, SBI, L&T, Tata Steel, M&M, Bajaj Finance, Vedanta, Tata Motors and RIL, tumbling up to 6.97 per cent.

The Monetary Policy Committee of the Reserve Bank of India, which is widely expected to cut the benchmark repo rate by 25 basis points, for the third time in a row, will announce its decision today.

According to the report, the promoters have already received an indicative term sheet for a deal and are looking to make the deal legally binding in a month.

NBCC’s total income during the March quarter rose to Rs 3,193.62 crore from Rs 2,987.03 crore in the corresponding period of the previous year.

Top gainers in the Sensex pack include NTPC, Coal India, Bharti Airtel, Bajaj Auto, TCS, Asian Paints, PowerGrid, Tata Motors, RIL and ITC, rising up to 2 per cent.

According to traders, market turned choppy tracking weak cues from global markets and fresh selling of equities by foreign institutional investors (FIIs).