State Bank of India (SBI) on Monday put on sale six non-performing accounts (NPAs) worth Rs 2,338 crore on sale, including its exposures to Indian Steel Corp (Rs 929 crore) and Jai Balaji Industries (Rs 859 crore).

All six assets are being offered on a 100% cash basis, with haircuts ranging between 29% and 76%. The other accounts up for sale are Kohinoor Planet Construction and Gati Infrastructure (Rs 251 crore), Mittal Corp (`116 crore), MCL Global Steel (`100 crore) and Shree Vaishnavi Ispat (Rs 82.52 crore).

Markets watchdog Sebi has levied a penalty of Rs 25 lakh on Indus Portfolio for carrying out reversal of trades in the illiquid stock options segment on the BSE.

Sebi conducted a probe between April 2014 and September 2015 after observing large-scale reversal of trades in the stock options segment on the bourse which led to the creation of artificial volume.

The Election Commission on Monday warned political parties in Kerala not to use the Sabarimala temple matter as a campaign issue.

Kerala Chief Electoral Officer Teeka Ram Meena told the media here that “citing or invoking” religious propaganda on the “Sabarimala issue” would be a clear violation of the model code of conduct.

Three directors of the erstwhile board of Essar Steel on Monday approached the National Company Law Appellate Tribunal (NCLAT) against a lower bankruptcy court order that allowed takeover of the company by ArcelorMittal. Standard Chartered Bank also approached the appellate tribunal against the order.

The three directors of Essar Steel are Prashant Ruia, Dilip Oommen and Rajiv Bhatnagar.

The National Company Law Appellate Tribunal (NCLAT) on Monday admonished State Bank of India (SBI), saying the lender had given a false impression that the RCom-RJio deal would fetch about `37,000 crore.

The NCLAT bench wondered why should there not be proceedings against the lender for painting a rosy picture of RCom. “SBI created false impression, gave a rosy picture before us,” the two-member NCLAT bench, headed by chairperson SJ Mukhopadhyay observed.

The rupee strengthened its gains by 25 paise to 69.64 against the US dollar in early trade on Tuesday, driven by sustained foreign fund inflows and weaker greenback against key rival currencies overseas.

Besides, selling of US dollar by exporters and banks also propelled rupee higher.

SBI has issued a warning for all its bank holders to be aware of the Whatsapp and fake social media messages. The largest lender State Bank of India (SBI) took to Twitter to issue the warning. The bank noticed that few customers had been receiving fake messages where they are being asked to share financial credentials.

The BSE benchmark Sensex soared 383 points to reclaim the 37,000 mark Monday, posting its biggest gain in nearly six months, led by gains in RIL, ICICI Bank and Bharti Airtel amid sustained foreign fund inflow and positive global cues.

According to experts, investors widened their portfolios amid hopes of a win for the incumbent NDA government, following the announcement of 2019 general election dates Sunday.

Shares of Larsen & Toubro were up 4 per cent to Rs 1,403 on the BSE on Tuesday, after the company said its power transmission & distribution business has bagged a number of engineering, procurement and construction (EPC) orders in India and abroad.

At 10:43 am; L&T was the largest gainer among the frontline benchmarks, the Nifty 50 and S&P BSE Sensex. The benchmark indices were up 1.2 per cent each. A combined 2.74 million equity shares changed hands on both the exchanges.

Shares of ICICI Bank hit a record high of Rs 388, up 3 per cent, on the National Stock Exchange (NSE) in intra-day trade on Tuesday.

The stock surpassed its previous high of Rs 383 touched on January 9, 2019 in intra-day trade. The counter has seen huge volumes with a combined 12.31 million equity shares changing hands in first hour of trading on the NSE and BSE.

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