Chennai: Market regulator Sebi has said that it will re-investigate insider trading charges against Murugappa Group executive chairman A Vellayan. The regulator had initiated a preliminary examination and charged Vellayan along with three others for insider trading in May last year.

New Delhi: Gold prices drifted lower by Rs.25 to Rs.30,025 per 10 grams at Delhi bullion market on Saturday as demand eased from jewellers and retailers at prevailing levels even as the metal strengthened overseas.

Bullion traders said lower demand from jewellers and retailers at existing levels led to the fall in gold prices, but a firming trend overseas capped the fall.

Chennai: The nearly two month-long gruelling campaigning in peak summer for the 16 May Tamil Nadu assembly election that is witnessing a multi-cornered contest comes to an end on Saturday.

More than 5.79 crore voters in 234 assembly constituencies will decide the fate of 3,776 aspirants, including four chief ministerial candidates — incumbent J. Jayalalithaa of AIADMK, DMK’s M. Karunanidhi, DMDK’s Vijayakant and Anbumani Ramadoss of PMK.

Mumbai: Bank of Baroda on Friday reported a net loss of Rs.3,230.14 crore for the March quarter due to higher provisions for bad loans. The loss was restricted due to a tax write-back of Rs.1,055.06 crore in the quarter.

This was the second consecutive quarter that the bank has reported a net loss. In the third quarter, the bank had reported a loss of Rs.3,342.04 crore.

Washington: Amid reports that China and Pakistan are jointly opposing India’s bid for the Nuclear Suppliers Group membership, the US on Saturday said India meets missile technology control regime requirements and is ready for entry into the exclusive club.

“I’d point you back to what the president said during his visit to India in 2015, where he reaffirmed that the US view was that India meets missile technology control regime requirements and is ready for NSG membership,” State Department spokesman John Kirby told reporters at his daily news conference.

Domestic benchmark indices BSE Sensex and NSE Nifty slipped over a percentage point on Friday after industrial production in March plunged to 0.1 per cent amid weak global cues. The 30-share index closed 300.65 points down at 25,489.57, while Nifty 50 index settled 85.50 points down at 7,814.90.

Among the 30 stocks in the BSE Sensex, 27 ended the day in red with Adani Ports falling the most — 3.48 per cent to Rs 188.40, it was followed by HUL (down 2.58 per cent), BHEL (down 2.50 per cent), HDFC (down 2.46 per cent) and Tata Steel (down 2.31 per cent).

The rupee strengthened by 7 paise to 66.47 against the US dollar in early trade on Monday on increased selling of the American currency by banks and exporters.

Forex dealers said besides sustained selling of the greenback by banks and exporters, a higher opening of the domestic equity market backed up the rupee at the Interbank Foreign Exchange.

The government-owned State Bank of India (SBI) has seized a villa of debt-strapped liquor baron Vijay Mallya in Panaji, Goa.

Mallya flew to London in March, under pressure from bankers seeking to recover about Rs 9000 cr owed by his collapsed Kingfisher Airline.

GMR Rajahmundry Energy (GREL), a subsidiary of GMR Infrastructure, has said that in the absence of long-term fuel supply agreements and long-term power purchase agreements, a consortium of lenders has adopted the strategic debt restructuring (SDR) scheme.

Accordingly, in a meeting held on Friday, the company issued equity shares proportionately to all the lenders.

Country’s coal imports fell by 15 per cent to 15.9 million tonnes (MT) in April this year.

The imports stood at 18.7 MT in the same month last year.

“Provisional coal import figures: Reduction from 18.7 MT in April 2015 to 15.9 MT in April 2016. In value terms, from Rs 8,942 crore to Rs 6,023 crore (32 per cent),” Coal Secretary Anil Swarup said in a tweet.

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