The chief of a large fund house sits late afternoon every day and dutifully pours over the net asset values (NAVs) of his schemes. After scrutinising the returns for the day, he decides on the expense ratios that need to be charged and deducted for each category.

The executive is not alone. In fact, many fund houses, especially those that handle significant institutional money, dabble in what some call "NAV management", which involves adjusting the expenses based on the returns made on the particular day.

Ashok Leyland, Shakti Pumps, Zyndus Wellness, Excel Industries, FDC, Jubilant Life Sciences, Polaris Consulting & Services, Hinduja Global Solutions and Inox Leisure have hit their respective 52-week highs on BSE on Thursday.

These stocks have trading higher by up to 19% today, extending their gain after reported a strong set of numbers for the quarter ended December 2017 (Q3FY18).

Kolkata: Coal India Ltd supplied 371.8 million tonnes of coal to the power sector in the last 10 months ending January, up 6.8% from the corresponding period last year, a senior company official said.

The state-owned miner also supplied 103.1 million tonnes of coal to the non-power sector in the April-January period of the current fiscal, registering a growth of 8.8% over the corresponding period last year.

Saudi Arabia has allowed Air India to use its airspace for flights between Delhi and Tel Aviv, Israeli daily Haaretz reported. However, a spokesperson for Saudi Arabia’s General Authority of Civil Aviation was quoted in another media report denying that any such permission was granted to Air India.

It could not be confirmed from either the ministry of civil aviation here or Air India, whether the national carrier has been given right to use Saudi airspace for flight to Tel Aviv.

Idea Cellular on Wednesday said it has suspended interconnect services with Aircel because of non-payment of dues by the latter despite repeated reminders. “Despite several reminders for releasing the dues since November 2017, the operator (Aircel) has failed to meet its payment commitments, forcing Idea to suspend interconnect services, as per the terms of interconnect agreement between both parties,” the company said.

In a definite indication loans are turning costlier, HDFC Bank on Wednesday raised the marginal cost of funds-based lending rate (MCLR) by 10 basis points for some tenures. The one-year MCLR was raised to 8.2% and matches that at ICICI Bank. However, State Bank of India (SBI) charges a lower 7.95%. Axis Bank, which last month became the first large lender to raise its MCLRs since the pricing mechanism came into effect on April 1, 2016, charges 8.3%. At HDFC Bank, the six-month, two-year and three-year MCLRs are now 8%, 8.3% and 8.5%, respectively.

Virat Kohli's masterclass and a pouncing pack of wrist-spinners ensured a 124-run win for India in the third ODI in Cape Town, giving the visitors an unassailable 3-0 lead and taking them one step closer to a maiden series triumph in South Africa.

Kohli reaffirmed his status as an ODI great with an unbeaten 160 off 159 balls on a challenging Newlands surface, propelling India to 303 for six.

The benchmark BSE Sensex opened on positive note today, the 30-share BSE Sensex was up 253.58 points or 0.74 per cent at 34,336.29 and the 50-share NSE Nifty rose 71.60 points to 10,548.30.

Key indices on Thursday extended gains in morning driven by index heavyweights like Infosys, HDFC twins and Reliance Industries.

In New Delhi, India’s capital and its most polluted city, eight of every 10 children and youth below 20 years of age living in areas with constantly polluted air have poor lung capacity, according to a study by Hazards Center, a Delhi-based advocacy.

These findings come at a time when data on the health effects of air pollution are being denied by the ruling Bharatiya Janata Party (BJP) government.

Three global car majors – Ford, Nissan, and Volkswagen – are skipping the ongoing Auto Expo 2018. There is one common trend among these three companies — they all ship more cars to overseas markets than their local sales within India.

Interestingly, there are no other carmakers with operations in the Indian market that export more cars than their domestic sales.

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