NEW DELHI: The benchmark BSE Sensex got off to a lower start today, tracking a sell-off in global markets amid escalating trade war worries.

The 30-share index, which had lost 114.94 points in the previous session, was down 53 points at 35,379.65 at 10.07 am. Capital goods, realty, infrastructure, power, healthcare and metal stocks showed weakness, falling by up to 0.35 per cent.

New Delhi, Jun 22 () Telecom industry body COAI has said auction of spectrum for 5G services should happen only around the second half of 2019 as it would offer telcos better visibility into market dynamics and potential revenue streams of the next-generation mobile services.

The Department of Telecommunications (DoT) is expected to clear the merger of Vodafone India and Idea Cellular early next week. Both the companies, however, may have to pay one-time-spectrum-charges (OTSC) dues, though these are under challenge in the court. The DoT is expected to ask Vodafone for Rs 5,650 crore – or a bank guarantee – and Idea for Rs 2,113 crore for its OTSC dues.

Over the last week, Bank of Baroda (BoB) has put on sale non-performing assets (NPAs) worth Rs 7,655 crore, including its exposures to some accounts named in the Reserve Bank of India’s (RBI) two lists of bankruptcy cases, such as Essar Steel, Bhushan Power & Steel, Soma Enterprise and Visa Steel. BoB’s aggregate exposure to these accounts is Rs 3,004 crore.

Irked by the slow progress made by banks in addressing security concerns around automated teller machines (ATMs), the Reserve Bank of India (RBI) on Thursday set certain compliance timelines. RBI added that any deficiency in timely and effective compliance with the instructions may invite “appropriate supervisory enforcement action”.

India’s LNG imports were flat m/m in May but rose 17% y/y, boding well for PLNG where Dahej unit was also steady at ~110% in April/May. We keep our BUY as we do on Gail where earnings risks appear skewed on the upside even if trans. volumes do rise materially NT and valuations are inexpensive. Expectations are modest for ONGC too where higher oil and gas prices would lift earnings in FY19E even if subsidies cap realizations in domestic oil assets and HPCL.

KOLKATA: Coal-fired power plants with total installed capacity of around 9,000 MW are asking for extension of temporary coal supply contracts for at least six years, since they have not been able to start production from the captive blocks allotted to them more than three years ago.

The Securities and Exchange Board of India (Sebi) has made major changes in rules governing fund-raising, to provide flexibility to issuers and to boost capital formation.

The regulator tweaked norms governing stock exchanges, clearing corporations and depositories —known as market infrastructure institutions (MIIs) — capping the tenure of top officials and bringing in more accountability to the board structure.

Gold prices inched up early on Friday after hitting a 6-month low the session before, with the dollar retreating from an 11-month peak.

Spot gold was 0.1-per cent higher at $1,268.24 an ounce by 0057 GMT. It touched its lowest since Dec. 19 at $1,260.84 on Thursday. U.S. gold futures for August delivery were nearly unchanged at $1,270.20 per ounce.

Shares of Reliance Industries (RIL) hit a new high of Rs 1,031, up 1% on the BSE in intra-day trade on Thursday. The market value of the Mukesh Ambani-led RIL appreciated by 50% from its 52-week low of Rs 686 recorded on July 3, 2017 in intra-day deal.

In past one year, the stock outperformed the market by surging 45% as compared to 14% rise in the S&P BSE Sensex.

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