Stock Market LIVE: Government Seeks Fresh Cash Outgo Of Over Rs 41,500 crore
Government seeks fresh cash outgo of over Rs 41,500 crore, mainly for fertiliser requirements and compensation to oil marketing companies for LPG under-recoveries.
This is part of the First Supplementary Demands for Grants (SDG), involving gross additional expenditure of over Rs1.32 lakh crore.
Of this, Rs90,000 plus crore will be met through savings across ministries
41,500 crore fresh outgo is not expected to affect the fiscal deficit target of 4.4% of GDP.
Rs18,500 crore of the new outgo is earmarked for fertiliser subsidies (indigenous & imported P&K fertiliser and imported urea), with another Rs 12,500 crore funded through savings.
Rs 9,400 crore allotted for compensating PSU OMCs for domestic LPG under-recoveries, along with Rs5,200 crore more through savings.
Rs 2,500 crore set aside for Ladakh to meet additional expenditure relating to apportionment of liabilities between Ladakh and Jammu & Kashmir.
Rs 2,100 plus crore proposed for Manipur as part of a development package.
Wockhardt Pharma announced that the USFDA had approved its New Drug Application (NDA) for its novel antibiotic, Zaynich. Shares of the company are currently trading with gains of more than 11%, thanks to a sudden uptick after the announcement.
Wockhardt Pharma announced that the USFDA had approved its New Drug Application (NDA) for its novel antibiotic, Zaynich. Shares of the company are currently trading with gains of more than 11%, thanks to a sudden uptick after the announcement.
Stock Market LIVE: Nifty, Sensex Dip To Near Day's Lows
The Nifty has pared its record high from the open to fall sharply into the red, as the Indian rupee hit a record low on Monday. The benchmark index sees 27 declines & 23 advances, and sectors trade on a mixed note.
The Nifty has pared its record high from the open to fall sharply into the red, as the Indian rupee hit a record low on Monday. The benchmark index sees 27 declines & 23 advances, and sectors trade on a mixed note.
Stock Market LIVE: Maruti Suzuki, Tata Motors, M&M November Sales In Focus
The commercial vehicles segment is expected post a surprise this month, based on brokerage estimates and channel checks. Check all the updates for November Auto Sales data on our sister live blog by clicking this link.
Stock Market LIVE: Gold Prices Steady, Silver Hits Fresh Record
Amid rising expectations for an interest rate cut in the US, Gold prices in India rose to Rs 1,29,650 on Monday while silver in the spot market hit record high.
However, spot gold fell after its Friday's session ended 0.28% higher, trading around $4,267 an ounce. Silver's price hit a fresh record and was trading at Rs 1,75,010 per kilogram on Dec. 1, according to the India Bullion Association.
Stock Market LIVE: What Does Q2 GDP Boost Mean For Sensex, Nifty?
D-Street experts predict a positive start with the GDP boost supporting the near-term sentiment. "Domestically, the stronger-than-expected Q2 GDP print, driven by resilient manufacturing, solid construction activity, and healthy private consumption, is set to support sentiment in the near term," said Vinod Nair, Head of Research, Geojit Investments Ltd.
HUL's demerger of Kwality Wall's (India) will take effect on Dec. 1. The board has fixed Dec. 5 as the record date to determine the eligible shareholders entitled to receive equity shares of KWIL. The share entitlement ratio is 1:1 which means one fully paid-up equity share of face value of Rs 1 in KWIL will be given for everyone held in HUL.