Business

The government in September last year had announced merger of Vijaya Bank and Dena Bank with Bank of Baroda, aiming to create the third-largest lender after the SBI and ICICI Bank.

Over 1,000 pilots of the struggling private carrier Jet Airways have decided to go ahead with their 'no flying' call from April 1 following the airline failing to receive funds from the banks.

The report said if we look beyond the national inflation patterns, growing divergences at the state level are visible and cited how the headline inflation stands at 5.5 percent in Kerala, whereas Himachal is passing through a disinflation of 2 percent.

The 30-share BSE Sensex settled 100.53 points, or 0.26 per cent lower at 38,132.88, while the broader NSE Nifty slipped 38.20 points, or 0.33 per cent, to 11,445.05.

Top gainers include IndusInd Bank, SBI, Sun Pharma, Bharti Airtel, L&T, Bajaj Finance, Axis Bank and Tata Motors, rising up to 3.62 per cent.

Bangalore-based software service firm Mindtree directors’ panel will advise the board on the share buyback proposal at a meeting on Tuesday in order to fend off L&T's hostile takeover bid.

Forex dealers said the local unit was weighed down by strong dollar demand from importers to make month-end payments. However, sustained foreign fund inflows and easing crude prices restricted the fall.

The American manufacturer is currently embroiled in one of the biggest crises to have hit the aviation sector in recent times. After the second crash, several countries moved swiftly to ground the jets, citing safety concerns.

Fitch Ratings said it still sees GDP growth to hold up reasonably well at 6.8%, followed by 7.1% in FY21.

As per the proposal PFC will acquire about 104 crore shares or 52.63 per cent of the government stake in the REC at Rs 139.50 per share, the PFC said in a regulatory filing.

The deal is the second major fundraising by an Indian telco this year after Bharti Airtel Ltd announced a similar plan to reduce debt and fund operations in a market blighted by steep price competition.

Goyal, in a letter to the 16,000 staff, which came ahead of the domestic pilots body National Aviator's Guild annual meeting here, said talks with the airline's strategic partner Etihad Airways and SBI-led lenders were underway.

The marginal 2.44 per cent increase in exports, as well as lower imports of gold and petroleum products in February, significantly narrowed the country's trade deficit to USD 9.6 billion.

During talks with India, America is believed to have said that there are creative ways of solving all the trade related issues that addressed concerns of both the countries.

Top gainers in early trade include Yes Bank, Sun Pharma, Kotak Bank, HDFC twins, L&T, Tata Steel, IndusInd Bank, Axis Bank and RIL, rising up to 2.50 per cent.

Sectorally, the BSE bankex, finance, realty and energy realty indices surged up to 1.42 per cent. While, BSE telecom, metal, power, teck and healthcare indices ended in the red, losing as much as 2.60 per cent.