Business

"Investors are yet to gain confidence to start bottom fishing due to lack of liquidity, margin funding and short selling in the market. Weak sentiment is likely to extend till the financial market stabilises and confidence reverts with accommodative valua...

The government will have a borrowing of Rs 11,000 crore per week until beginning of November, and thereafter borrowing of Rs 12,000 crore (as was in the first half of the fiscal).

This statement from Yes Bank CEO and MD Rana Kapoor comes after the RBI asked him to quit the post by January next year.

The auction had been pending since the lease expired in 2011. The lease for the property will be granted to the group for 33 years at double the license fees.

The traders' body also claimed that a 'Trade Bandh' will be observed by Delhi traders in which all wholesale and retail markets will remain closed as part of their participation in the 'Bharat Trade Bandh'.

Brent crude futures were last down 49 cents on the day at $81.38 a barrel by 1351 GMT, after having risen to as much as $82.55 on Tuesday, the highest since November 2014.

Sebi has also sought details from stock exchanges about large trades done on Friday and would be stepping up the vigil to prevent steep volatility.

More than 10 million pieces of client data, including user names, phone numbers and parcel tracking numbers, were stolen from Cainiao, which provides logistics support to Alibaba's Taobao e-commerce platform.

Sustained buying by domestic institutional investors and a strengthening rupee also supported the recovery.

Flaring up of trade tariff tensions between the US and China and weakness in the rupee have also added to weak investor sentiment.

The watchdog has approved a proposal to allow foreign investors to trade in commodity derivatives market, except for sensitive commodities, as well as common application form for the registration of FPIs in the domestic markets.

The government Monday said state-owned Bank of Baroda, Vijaya Bank and Dena Bank will be merged to create the country's third largest lender as part of efforts to revive credit and economic growth.

The government of India's plan to merge three public sector banks, Bank of Baroda, Vijaya Bank and Dena Bank, will be credit positive as it will provide efficiencies of scale, Moody's said.

In a country where a majority of the population falls in the vast expanse of "middle class", a bank is viewed as a safe treasury to store hard-earned cash. Therefore, any change in bank rules or procedure is viewed with utmost scrutiny.

Yoga guru Ramdev's company said that it will begin selling dairy products in Tetra pack and will launch flavoured milk too. The milk, according to Patanjali, will be sold for Rs 40 per litre as opposed to Rs 42 a litre.

Gujarat-based GIFT City, near Ahmedabad, is featured as one of the significant emerging international financial service centres in the latest edition of 'Global Financial Centres Index 24', released in London this week.