Mumbai: Indian benchmark indices posted their biggest daily percentage decline in 10 months on Friday, as a North Korean threat to carry out a hydrogen bomb test in the Pacific Ocean rattled global markets.

The Indian government’s stimulus spending plan and jitters that it would widen the fiscal deficit also contributed to the decline, which was led by bank stocks.

Mumbai: The announcement of India’s official entry to the Oscars usually results in a blizzard of critical disagreement. But not this year.

By the time it released on Friday, most reviews had called Newton the film of the year, praising Amit Masurkar’s direction, the incisive, politically engaged writing, and the performances by Rajkummar Rao and Pankaj Tripathi.

L&T and Tata consortium have emerged as L2 and L1 bidders for the Mumbai Trans harbour (MTHL) contract. This combined with the ground breaking ceremony for the bullet train and movement on several other large opportunities suggests ordering visibility has improved. We build 6% inflow growth and that is still in range. News reports suggest that L&T is also working on several key divestitures, e.g., commercial real estate in Seawoods, Infrastructure investment trust in roads and sell down of the Electrical business. Electrical business realisation can be Rs 140-160 bn.

The refining glut is expected to worsen in the longer term, led by capacity expansion, rising distillate yields, increasing mileage per gallon, and growing use of greener fuels. However, refining margins have been strong at $8.3/bbl since July 2017 due to high unplanned shutdown, globally; we expect this to continue for a while. After a bit of a slowdown in FY17, consumption of both petrol and diesel has grown strongly at 8.3% and 4.5%, respectively in FY18YTD.

The Ministry of Civil Aviation on Friday invited proposals for recruitment of an asset valuer for disinvestment of Air India. Interested parties are required to submit their proposals by October 16. According to document uploaded by the Department of Divestment and Public Asset Management (DIPAM), the government has in-principle decided to consider the disinvestment of the Air India group as a whole or its constituents fully or part thereof through strategic sale with transfer of management control.

Insurance Regulatory and Development Authority of India (Irdai) is looking into the area of private equity firms investing in insurance companies and might take some decision in next one month. Insurance regulator has also formed a committee on introducing risk-based solvency in the insurance industry. Speaking at the ASSOCHAM Global Insurance Summit event, TS Vijayan chairman of Irdai said, “In insurance companies, we look at it in two different ways, investors and promoters, anybody can invest in the company, for promoter, we are studying (as to) what is the feasibility, if at all somebody is coming what are the conditions that need to be in place. We have put a team, we are legally examining it and we will take a decision in a month.”

The popular model from stable of Maruti Suzuki Ltd -- WagonR has crossed 2 million sales mark for the company.

This is the third model from the company after Maruti 800 and Alto to cross this figure.

Prime Minister Narendra Modi on Saturday laid foundation stone for toilet under Swachh Bharat Abhiyan in Shahanshahpur village of Uttar Pradesh's Varanasi.

Uttar Pradesh Governor Ram Naik, Chief Minister Yogi Adityanath, Minister of State for Rural Development Mahendra Singh and BJP State Unit President Mahendra Nath Pandey were also present during the function.

Punjab National Bank today said it plans to raise up to Rs 5,000 crore equity capital from the markets to fund growth.

The public sector bank however did not give any indication as to whether it would be raised by diluting government equity or issuing Additional Tier-1 (AT1) bonds.

New York/London: The only electric-car maker in India says the business case for the clean technology is starting to make sense—and it won’t require government subsidies to take off in a big way.

Mahindra and Mahindra Ltd, which announced a partnership this week with Ford Motor Co. to cooperate in areas including driverless and electric cars, says there’s money to be made in a nascent EV sector that some carmakers warn is curbing their margins.

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