Business

The fall of Thomas Cook affected the hotel, resort, airline employees and 600,000 people abroad, including more than 150,000 British citizens.

State-owned distressed telecom firms Mahanagar Telephone Nigam Ltd (MTNL) and BSNL have been incurring losses and have been facing problems in clearing staff salaries in the recent past.

The hike in oil prices is the sixth straight daily increase and has taken the cumulative price hike since September 17 to Rs 1.59 per litre in case of petrol and Rs 1.31 for diesel.

In a major fiscal booster, the government on Friday slashed effective corporate tax to 25.17 per cent inclusive of all cess and surcharges for domestic companies.

During the public meetings, credit will be provided for retail, agriculture, MSME and housing sector, among others.

At the interbank foreign exchange the domestic currency witnessed heavy volatility in early trade. The rupee opened at 71.36 per US dollar then touched a high of 71.15 and a low of 71.37.

The final call on the stake sale will be taken after the Indus-Bharti merger, which awaits DoT’s nod due in September.

At 10:34 am, the benchmark S&P BSE Sensex was down 218 points, or 0.58%, to 37,166.99, while the Nifty 50 fell 60.15 points, or 0.54%, to 11,015.25.

After swinging 386 points during the day, the 30-share index settled 166.54 points, or 0.45 per cent, lower at 37,104.28. It hit an intra-day high of 37,435.15 and a low of 37,048.67.

Saddled with past claims and HR-related bills from the two cash-strapped firms, DoT has now shot-off letters to the two ailing corporations asking them to withdraw such employees.

Ashwani Jhunjhunwala allegedly transferred 5.4 million dollars (Rs 38.8 crore) from the company's account to a private account abroad on September 4.

Equitas Holdings, DHFL, Eveready Industries, Punjab National Bank and Canara Bank were among the key stocks in news today. Read on to know more.

Last month, Indian Oil Corp and other two oil marketing companies had stopped supplies to Air India in Pune, Vizag, Cochin, Patna, Ranchi and Mohali seeking Rs 5,000 crore in unpaid ATF dues.

MSMEs have been expressing concern over failure of the Micro and Small Enterprise Facilitation Council (MSEFC) in resolving cases of delayed payments within the stipulated 90 days.

While Canara Bank has business worth Rs 10.4 lakh crore, Syndicate Bank has business worth Rs 4.7 lakh crore. With 10,342 branches across the country, the two banks together will form the third-largest branch network.

After gyrating 568 points during the day, the 30-share Sensex ended 263.86 points, or 0.71 per cent, higher at 37,332.79. It hit an intra-day high of 37,397.97 and a low of 36,829.81.