NEW DELHI: Finance Minister Arun Jaitley today took additional charge of the Defence Ministry, a dual position he had held for around six months in 2014.

Jaitley was given the charge of the Defence Ministry yesterday after Manohar Parrikar stepped down from the position to go back to Goa to become its Chief Minister.

Calcutta, March 13: The Tea Board has appointed ICICI Bank as the new settlement banker for holding pan-India auctions after a search for nearly four months.

"We have selected ICICI Bank as the settlement banker for the e-auctions from a total of five bankers and it is currently working with NSE.IT to align the software," Santosh Sarangi, chairman of the Tea Board, told The Telegraph.

Mumbai: The Indian rupee on Tuesday hit an 11-month high against the US dollar as local equity markets surged over 520 points after Bharatiya Janata Party’s (BJP) landslide victory in Uttar Pradesh.

At 2.12pm, the home currency was trading at 66.16, up 0.68% from its previous close of 66.61. The rupee opened at 66.21 a dollar and touched a high of 66.14, a level last seen on 20 April 2016.

As Coal India Ltd (CIL) gears up for investment roadshows in overseas markets including Hong Kong and Singapore beginning tomorrow, the public sector major has suffered a major embarrassment due to a faux pas over the share buyback programme by its subsidiaries.

While valuation exercises for the shares of three of its mining subsidiaries were found to be erroneous, that swelled the value of each shares many times more, another of its subsidiary, Central Coalfields, has refused to execute the buyback of its shares.

The BJP on Monday deftly outmanoeuvred the Congress to clinch power in Manipur and was set to form its first government in the northeastern state, headed by Nongthombam Biren, a former minister who quit the Congress last year.

Biren was to meet Governor Najma Heptulla on Monday night to stake claim to forming the new government.

Shares of leading private sector lenders such as YES Bank, IndusInd Bank, HDFC Bank and Kotak Mahindra Bank and automobile stocks like Maruti Suzuki India, Eicher Motors, Bajaj Auto, Hero MotoCorp boost the Nifty50 index to hit a record high on Tuesday in intra-day trade.

These stocks, along with Reliance Industries (RIL), Bharat Petroleum Corporation (BPCL), Zee Entertainment, Tata Steel, Grasim Industries, Power Grid Corporation and Gail (India) have rallied more than 25% each from their March 4, 2015 levels.

Prime Minister Narendra Modi has emerged as a clear favourite for the 2019 general elections after the BJP's landslide victory in assembly elections in Uttar Pradesh and Uttarakhand, top US experts on India have said.

While one of the expert noted that the electoral results of the just concluded Assembly polls in five states show that the 2014 Lok Sabha election results were not an aberration, another noted that Modi would continue to lead India after 2019.

Non-life insurance companies posted over 33 per cent increase in their gross premium income (direct premium income underwritten) to Rs 10,287.7 crore in February as compared to Rs 7,710.81 crore in the year-ago month.

According to data compiled by the Insurance Regulatory and Development Authority of India (IRDAI), private sector general insurers' gross direct premium income underwritten in February stood at Rs 4,425.51 crore, up by 31 per cent from Rs 3,391.03 crore.

The Lok Sabha has passed the Admiralty (Jurisdiction and Settlement of Maritime Claims) Bill, 2016.

The Bill aims to establish a legal framework to consolidate the existing laws relating to admiralty jurisdiction of courts, admiralty proceedings on maritime claims, arrest of vessels and related issues. It also aims to replace archaic laws which are hindering efficient governance.

New Delhi: Greenko Group is looking to acquire hydro and wind power producer Bhoruka Power Corp. Ltd’s renewable energy portfolio of 310 megawatts (MW).

L&T Infrastructure Finance Co. Ltd holds an equity stake worth Rs350 crore in Bhoruka Power, which currently operates 110MW of hydropower capacity, 170MW of wind capacity and 30MW of solar capacity in Karnataka, Rajasthan and Haryana, and is building a 200MW wind farm in Karnataka.

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