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India bars defaulting company owners from bidding to buy back assets

1h in.reuters
MUMBAI/NEW DELHI (Reuters) - India tightened its fledgling bankruptcy and insolvency rules on Thursday, potentially barring owners of 12 of the country’s biggest loan defaulters from bidding to buy back their assets when they are auctioned as part of bankruptcy proceedings. (4-0)

I don#39;t mind some haircut but don#39;t want to go bald, says SBI Chief

1h moneycontrol
After amendments to the insolvency code barred wilful defaulters from buying their own stressed assets, State Bank of India Chairman Rajnish Kumar said banks, while deciding to buy, will have to factor in the quality of the promoter as well as the quality of assets. (1-0)

Market Update: Dr Reddy#39;s, Hindalco fall over 2%; Bajaj Electricals zooms 10%, Infosys, RIL most active

5h moneycontrol
The Indian benchmark indices on Thursday afternoon erased all the day's gains with the Nifty down 19 points or 0.19 percent while the Sensex shed 39.51 points at 33522. (22-0)

SBI Life bets on metals, oil and gas sectors for investment growth

6h livemint
Mumbai: SBI Life Insurance Co. Ltd has increased investments in the metals, oil and gas sectors as a rise in energy and metals prices is set to drive growth in commodity stocks, the insurer’s chief investment officer told Reuters. (7-0)

Market Update: Nifty IT outperforms as 91 stocks hit new 52-week high; BHEL jumps 5%

6h moneycontrol
The Indian benchmark indices on Thursday Afternoon were trading on a positive note with the Nifty up 16 points or 0.15 percent while the Sensex gained 45 points at 33606. (20-0)

SBI Life bets on metals, oil and gas sectors for investment growth

8h in.reuters
MUMBAI (Reuters) - SBI Life Insurance Co. Ltd has increased investments in the metals, oil and gas sectors as a rise in energy and metals prices is set to drive growth in commodity stocks, the insurer’s chief investment officer told Reuters. (7-0)

New task force set up to re-draft direct tax law

19h thehindubusinessline
To this effect, the Finance Ministry on Wednesday announced the setting up of a task force to draft a new direct tax legislation. (1-0)

Neuland Labs buys API plant under SARFAESI Act for undisclosed amount

23h moneycontrol
Drug maker Neuland Laboratories on Wednesday said that its Board has approved the purchase of a manufacturing facility owned by Arch Pharmalabs located at Gaddapotharam, near Hyderabad, for an undisclosed amount. (18-0)

State Bank of India - Updates

2017-11-22 nseindia
The information displayed herein is uploaded by the concerned Company. The said uploaded information is displayed without any verification of adequacy, accuracy and veracity. The Exchange in discharge of its role of dissemination of uploaded information on this website immediately on its receipt. The Company shall be solely responsible and liable for any omission, commission, errors and misrepresentations in the contents of the Information. (16-0)

Equities close in green, auto stocks drive upward rally

2017-11-22 freepressjournal.in
Mumbai: Key Indian equity indices on Wednesday provisionally closed in the positive territory as higher auto stocks buoyed investors’ sentiments.Mumbai: Key Indian equity indices on Wednesday provisionally closed in the positive territory as higher auto stocks buoyed investors’ sentiments. (1-0)

Bank NPAs grow at slowest pace in 10 quarters, up Rs 11,000 cr in Q2

2017-11-22 moneycontrol
The banking sector witnessed the slowest incremental rise in gross non-performing asset (NPA) movement in the last 10 quarters, at Rs 11,000 crore, in the second quarter period from July to September. (8-0)

Banks#39; NPAs grow at the slowest pace in the last 10 quarters, up Rs 11,000 cr in Q2

2017-11-22 moneycontrol
The banking sector witnessed the slowest incremental rise in gross non-performing asset (NPA) movement in the last 10 quarters, at Rs 11,000 crore, in the second quarter period from July to September. (8-0)

Market Update: Nifty PSU bank outperforms as 86 stocks hit new 52-week high on NSE; HDFC most active

2017-11-22 moneycontrol
The Nifty up 24.65 points or 0.24 percent while the Sensex gained 132 points at 33611 on Wednesday afternoon. (11-0)

PSU banks gain 1-4% on buzz of Cabinet nod for Ordinance to changes IBC

2017-11-22 moneycontrol
Shares of public sector banks gained 1-4 percent intraday on Wednesday as investors reacted to Cabinet’s actions. (2-0)

PSU bank stocks gain as Cabinet approves changes to banking code

2017-11-22 thehindubusinessline
Shares of top state-owned lenders surged in Wednesday's trade as the Union Cabinet on Wednesday gave approval to amend the Insolvency and Bankruptcy Code to prevent wilful defaulters from bidding for stressed assets, two TV channels reported citing unnamed sources. (1-0)

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