Sun, Aug 20, 2017 | updated 02:16 AM IST

Sensex, Nifty end in red; Cipla top gainer

Updated: Sep 20, 2016 16:06 IST      
Sensex, Nifty end in red; Cipla top gainer

New Delhi [India], Sep 20 (ANI): The market on Tuesday ended in negative terrain with the Sensex trading down 111.30 points or 0.4 percent at 28523.20.

On the other hand, Nifty slipped 32.50 points or 0.4 percent at 8775.90.

Shares such as Tata Steel, ONGC, Cipla, Maruti and Lupin were top gainers while Adani Ports, Hero MotoCorp, Bajaj Auto, Bharti and BHEL were losers in the Sensex.

Shares of Castrol India rose 11 percent intraday after its promoter British Petroleum sold 8.5 percent stake In Castrol India.

Post sale, British energy giant now holds 51 percent in its Indian lubricants subsidiary. According to CNBC-TV18, BP sold around 4.2 crore shares worth Rs 1898 crore trade on BSE and NSE at Rs. 440.15-445.45 per share.

Earlier, in May BP wholly owned unit Castrol Ltd on Thursday sold 11.5 percent stake in Castrol India and slashed its holding in the company to 59.42 percent from 70.92 percent for about Rs. 2072 crore.

The Tax Department has slapped a service tax demand of over Rs. 6,100 crore on the overseas arm of state-owned ONGC, a move that may potentially render its investments in oil and gas fields abroad infructuous.

ONGC Videsh Ltd (OVL) has stakes in 37 oil and gas projects in 17 countries around the world. These stakes are held through subsidiaries, branches and joint ventures. For operations of these projects, those units and joint ventures would raise a demand for money on the parent, OVL, which would transmit the investments.

The Service Tax Department now contends that the overseas units are rendering a service to OVL and as such the company is liable to pay service tax at the full rate, sources said.

Oil prices fell after Venezuela said that global supplies needed to fall by 10 percent in order to bring production down to consumption levels, and technical indicators also pointed to cheaper crude futures.

International benchmark Brent crude oil futures were trading at USD 45.70 per barrel, down 0.54 percent from their last close. US West Texas Intermediate (WTI) crude futures were down 0.55 percent at USD 43.06 a barrel. (ANI)

RBI Governor urges time-bound resolution of stressed assets

Updated: Aug 19, 2017 15:45 IST     

New Delhi [India], Aug 19 (ANI): Reserve Bank of India (RBI) Governor Urjit Patel on Saturday noted that given the current position of public sector banks, time-bound resolution of stressed assets is crucial, in order to facilitate resolution of stressed assets and reallocate capital.

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New Delhi [India], Aug.19 (ANI): Baldeo Bhai Sharma, Chairman, National Book Trust (NBT), today underlined the importance of nurturing creativity and innovation in children at an early age for the economic and spiritual development of the nation.

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E-Commerce industry risk review by Alea Consulting

Updated: Aug 19, 2017 15:05 IST     

New Delhi [India], August 19 (ANI-NewsVoir): In India, eCommerce accounts for 1.5 percent of India's GDP, and is likely to reach 2.5 percent by 2030. In 2016 the sector grew by 55 percent to USD 16 billion. With the increase in internet users, Indian e-Commerce industry is poised to surpass the United States and become second largest in the world, after China, by 2034.

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Adarsh Credit Co-operative Society ties up with Oppo Mobiles

Updated: Aug 19, 2017 14:46 IST     

New Delhi [India], August 19 (ANI-NewsVoir): Adarsh Credit Co-operative Society Ltd. tied up with OPPO mobile company for providing financial services for its advisors which will help them in providing better services through Adarsh mobile money application. The tie-up of this kind is for the first time in the co-operative sector which will help in accelerating financial inclusion in the country.

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Kutchina Foundation celebrates Annual Day

Updated: Aug 19, 2017 14:45 IST     

New Delhi [India], August 19 (ANI-NewsVoir): Kutchina Foundation celebrated its annual day to commemorate the outstanding contributions and efforts by the existing Krritikas in bringing about a social impact and change in the society and to introduce the new Krritikas who have been identified to be offered fellowship for their respective projects under Kutchina Krritika - an initiative to identify woman change-makers and support them. The women identified under this initiative are called 'Krritikas' as it stands for a group of stars (female Nakshatras) also known as the "Stars of Fire" and is related to a commander, foster mother, luster, glow of power, physical and creative force.

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New Delhi [India], Aug.19 (ANI): The Global Business Travel Association (GBTA),the voice of the global business travel industry, kicked off GBTA Conference 2017 New Delhi on Friday as part of its India Conference Series 2017.

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New Delhi [India], Aug 18 (ANI): The Ministry of Finance on Friday released a clarification regarding the number of taxpayers that have been added after demonetization.

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New Delhi [India], Aug 18 (ANI): Celebrating the occasion of world Entrepreneurship Day, ASSOCHAM (Associated Chambers of Commerce and Industry of India) on Friday bestowed Mobikwik co-founder Upasana Taku with the 'Best Woman Entrepreneur Award 2017' in the national capital.

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RBI introduces new Rs. 50 notes in Mahatma Gandhi series

Updated: Aug 18, 2017 19:14 IST     

New Delhi [India], Aug 18 (ANI): The Reserve Bank of India (RBI) on Friday announced circulation of new currency denomination of Rs. 50 banknotes in the Mahatma Gandhi (New) Series.

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New Delhi [India], Aug 18 (ANI-NewsVoir): Eminent artist, philanthropist and award winning sculptor Rouble Nagi is looking forward to welcoming and hosting international Bahraini artist from Bahrain over an evening at a multi-cultural arty affair connecting creative enthusiasts from India and Bahrain through an unparalleled programme of artist interventions.

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New Delhi [India], Aug 18 (ANI): An urge to share lives beyond fashion and lifestyle by the users of India's leading fashion social network, 'Roposo - TV by the People' has emerged as the home grown digital platform to explore homemade videos and photos, hands-free and full-screen browsing experience.

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New Delhi [India], Aug 18 (ANI): CMO Asia, an organization of Asia's top marketing executives and professionals, through their network, generate high level thought leadership and peer networking amongst decision makers across Asia. CMO Asia's National Award For Marketing Excellence was awarded to Parijat Industries on 6thJuly in Mumbai this year.

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New Delhi [India] August 18 (ANI): Union Minister Arun Jaitley in a letter to the State Chief Ministers, Finance Ministers written earlier today highlighted the concerns raised by the manufacturing sector in the country regarding the rise in input costs of petroleum products.

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Panaji (Goa) [India], Aug 18 (ANI): Le Meridien has announced hiring of Norton Pereira as the General Manager for its Goa's Calangute property.

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The story of Zaara Tugs at Family Ties Strings

Updated: Aug 18, 2017 15:38 IST     

New Delhi [India], Aug 18 (ANI-BusinessWireIndia): In every child, there is a story, a story never told or heard. New research has found that three out of four parents have a best loved child. Even if they do not, mere perception of bias can affect a child's emotional well-being.

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New Delhi [India], Aug 18 (ANI): Vishal Sikka, who resigned as the Managing Director and Chief Executive Officer of Infosys Ltd., on Friday cited that the continuous stream of distractions and disruptions are among the main reasons behind his dec

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New Delhi [India], Aug 18 (ANI): True Balance, India's leading mobile balance management service app unveiled interesting features on its new version which enables users to manage, recharge and earn their rewards all in one go.

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New Delhi [India], Aug 18 (ANI): The latest OLA film 'Farak Padta Hai' campaign explores the youth of today who are more concerned about the future of the country, and want to work towards solving real issues like growing congestion and pollution in our cities.

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New Delhi [India], Aug 18 (ANI-NewsVoir): Home buying journey today is not as cumbersome as it was a decade ago. Homeseekers were completely dependent on brokers and personal connect, however with evolved needs and technological advancements, one can now access information at the touch of their fingertips. With the introduction of mobile apps like Magicbricks - the process has become much simpler.

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Kerala Tourism organizes a roadshow in Gurugram

Updated: Aug 18, 2017 13:54 IST     

New Delhi [India], Aug 18 (ANI-NewsVoir): Kerala Tourism, with its year-long marketing activity campaign which commences with the summer campaign that lures summer travellers from the month of April to September, reached out to the tourism industry players in Gurugram on Thursday, 17th August, with its revamped fare on showcase which includes a selection of new tourism products.

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