Business

The 30-share Sensex Monday tanked 536.58 points or 1.46 per cent to end at 36,305.02, extending its downtrend for the fifth straight session. The barometer has lost 1,785.62 points or 4.68 per cent in past five trading sessions.

After failing to get a buyer earlier this year, Air India with a debt pile of over Rs 50,000 crore is facing cash crunch and has been delaying various payments including salaries to its staff.

The migration has been triggered by various moves of the central government to ring-fence all things cryptocurrency in the country.

On Monday, 'Alternative Mechanism' (AM) headed by Finance Minister decided to merge Bank of Baroda, Vijaya Bank and Dena Bank with a view to create global size lender which will be stronger and sustainable.

Financial services secretary Rajeev Kumar made the announcement at a news conference along with Finance Minister Arun Jaitley. He said the boards of the three banks will examine amalgamation proposal.

The 30-share barometer pushed higher by 318.85 points, or 0.85 per cent, to 38,036.81. The gauge had risen 304.83 points in the previous session on Wednesday.

Relaxing the norms, the Corporate Affairs Ministry on Thursday said that in such cases, only approval of shareholders by way of a special resolution would be required.

The Jaypee group is facing a debt crisis and its group firm Jaypee Infratech Ltd has been taken over by a National Company Law Tribunal (NCLT)-appointed interim resolution professional for the recovery of bad loans.

The laggards include Yes Bank, PowerGrid, Kotak Bank, ONGC, Hero MotoCorp, HUL, HDFC Bank, ICICI Bank, HDFC, Tata Motors, Sun Pharma and Asian Paint Sun Pharma, Yes Bank, SBI, ICICI Bank, NTPC, ONGC and Maruti Suzuki, falling up to 2.12 per cent.

Alibaba chief Jack Ma plans to step down from the company on Monday — his 54th birthday — and refers to his departure as "the beginning of an era" rather than an end.

Petrol price was hiked by 48 paisa per litre and diesel by 47 a litre, according to price notification issued by state fuel retailers.

The drawbacks of the GST, especially the job losses, could prove costly for the BJP and Prime Minister Narendra Modi in state elections later this year and the 2019 general elections.

Shares in the world's largest online retailer last traded up 1.4 percent at $2,041.68. Its shares hit the $2050.2677 level to give its stock a value of $1 trillion.

The Indian digital wallet company is offering systematic investment plans (SIPs). It plans on providing SIPs for as low as Rs 100 in some of its schemes as it targets individual investors sitting in Tier 2-3 cities.

State Bank of India (SBI) will offer the special term loan at 8.45 per cent for borrowings up to Rs 10 lakh for repair and renovation of homes for Kerala Flood victims.

The banking sector crisis in India can be identified by Punjab National Bank (PNB), India’s second-largest state-owned lender, posting its financial results for the first quarter of 2018-19. It reported a net loss of Rs 940 crore.