Business

The three new overseas services include daily non-stop flights to Jeddah and Dammam and Abu Dhabi while the domestic services will be launched to cities such as Indore, Kochi and Patna among others, IndiGo said in a release.

The union said that telecom minister Manoj Sinha had given assurance in January 2018 that BSNL would be allotted spectrum for 4G services but it is pending till date.

The domestic gas price is notified at USD 3.69/mmbtu (GCV basis) for H1 FY2020, an increase of 9.8 percent from the price of USD 3.36/mmbtu (GCV basis) applicable for H2 FY19, the rating agency Icra said in its report.

Though the Jet management did not give a specific date for payment, it said the company will provide an update on the issue on April 9.

The BSE gauge Sensex was trading above the psychological 39,000-level in early deals up 176.95 points, or 0.45 per cent, at 39,233.60.

Underscoring that long stretch of growth in the sector, factory activity in the first three months of 2019 increased at its quickest quarterly average rate in more than six years.

The weakening of the US dollar against some currencies overseas supported the local unit, however rising crude oil prices capped the gains.

While the lenders are in favour of Purwar being named the new chairman, the board will have to approve his appointment before it can be finalised.

Global cues turned weak tracking Friday's sell-off on the Wall Street after a weak manufacturing data from the US and Europe raised fears of an economic slowdown.

The global benchmark has risen by more than 20 percent since the beginning of January, due to supply cuts by the Organization of the Petroleum Exporting Countries and allies.

SN Subrahmanyan made it clear that L&T, which is looking at the Mindtree deal as an investment to deploy its cash of over Rs 15,000 crore, will want at least 26 percent stake in the target company.

The meeting, which comes ahead of the next financial year's first MPC meet scheduled for April 4, is aimed at broadening the consultation process.

A statement on this comes amid reports that the RBI seems to be toeing the government line and considering relaxation of some of the aspects of the Revised Framework on Resolution of Stressed Assets issued on February 12, 2018.

Forex traders said, the rally in the Indian markets was led by strong FII buying on account of reduction in geopolitical risks and opinion polls suggesting a likely return of the NDA government in the general election 2019.

The assertion comes in the backdrop of media reports that PNB had approved Rs 2,050 crore of emergency funding to Jet Airways, for which lenders are considering a resolution plan under Project Sashakt.

Last week, the 30-share Sensex settled 53.99 points, or 0.15 per cent, lower at 36,671.43, while the broader NSE Nifty slipped 22.80 points, or 0.21 per cent, to 11,035.40.