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London court issues arrest warrant against Nirav Modi

ED has been informed about the issuance of the warrant by the Westminster Magistrate Court against Nirav Modi and he is expected to be put under formal arrest by the local police soon. Nirav Modi will be subsequently brought before the court to secure bail and the legal proceedings for his extradition will begin thereafter. The ED and the CBI are investigating Modi, his uncle Mehul Choksi and others for alleged money laundering and corruption to perpetrate the alleged scam in the Brady House branch of the PNB in Mumbai...
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NSA Ajit Doval: Have not forgotten and will never forget Pulwama

The National Security Advisor paid floral tributes to the martyrs of the force including the martyrs of the Pulwama attack at the memorial. No cultural programme was held today as a mark of respect to the Pulwama martyrs. Ajit Doval also reviewed the parade and addressed the CRPF troops. He said that the country has not forgotten and will never forget Pulwama. Further the National Security Advisor underlined the importance of maintaining internal peace in the nation. Ajit Doval said that threat to internal peace often results in  a larger...
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Samjhauta blast case: Special NIA court acquits all 4

The blast in the India-Pakistan train took place near Panipat in Haryana on February 18, 2007, when it was on its way to Attari in Amritsar, the last station on the Indian side. The blast had ripped apart two coaches of the cross-border train. The Haryana police registered a case, but the probe was handed over to the National Investigation Agency in July 2010. Of the eight, Swami Aseemanand, Lokesh Sharma, Kamal Chauhan and Rajinder Chaudhary appeared before the court and faced trial.Another accused Sunil Joshi was shot dead near...
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Notification for first phase of Lok Sabha elections announced

The process to elect the 17th Lok Sabha formally began on Monday with Election Commission issuing notification for the first phase of polling. 91 parliamentary constituencies spread over 20 states and union territories will go to polls on 11th of next month. With the issue of notification, nomination process for these 91 seats has kicked off. The last date of filing nominations is 25th of this month and the scrutiny of the nomination papers will be carried out on the 26th. The last date for withdrawal of nomination papers is...
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Bank lending finds a big boost in shadow banks

KOLKATA: The growth in bank credit has a veritable non-bank link.Non-banking finance companies’ (NBFC) dependence on bank credit has grown a massive 48% year-on-year till January, reflecting a shift in focus from money markets to banks for funds amid tighter liquidity condition.This is the highest growth in any loan segment reported by banks, while credit to manufacturing fell 0.7%, according to Reserve Bank of India data. Personal loans to buy consumer durables suffered a 75% plunge. Overall bank lending has grown 14.6% year-on-year.“The recent liquidity issues have increased the cost...
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Blue Star targets 13.5% market share in FY20

Kochi: Air conditioning and commercial refrigeration major Blue Star Limited is aiming at raising its market share to 13.5 % from the current 12.8% in FY 20.In the current year the market share of the company has increased by 0.5 % to12.8% as it performed better than the industry , said C P Mukundan Menon, president –sales & marketing , products business. `` As compared with 4% industry growth in the room air conditioners, Blue Star achieved 10% growth this year,’’ he said.The company is hoping its launch of a...
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Maldives sign agreement with Exim Bank to finance new government’s infrastructure projects

Maldives Finance Minister Ibrahim Ameer told media that the agreement with EXIM Bank was signed in presence of External Affairs Sushma Swaraj two-day visit to Male which concluded on Monday. He said the concessional loans will be used to provide water and sewerage services on several islands. The LOC is part of 1.4 billion US dollars  finance assistance announced by Indian government during President Ibrahim Mohamed Solih’s state visit in December. The EXIM Bank loans come with a 1.75 percent interest rate and a 15-year repayment period after five years...
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Nirav Modi’s bail plea rejected, to remain in custody till March 29

Nirav Modi, the main accused in the USD 2 billion PNB scam case, has been arrested in London where a court on Wednesday remanded the fugitive diamantaire in custody till March 29, saying there substantial grounds to believe that he would fail to surrender if granted bail."Nirav Deepak Modi, 48, was arrested on behalf of the Indian Authorities on Tuesday in Holborn," the Metropolitan Police said in a statement.He was produced before the Westminster Magistrates' Court on Wednesday, where he contested his extradition to India.District Judge Marie Mallon denied bail...
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Tech View: Nifty eases a bit, but it is too early to write off bulls

68497992 68496729 68496651 NEW DELHI: The Nifty50 took a pause on Wednesday and snapped a seven-day winning streak. Selling was seen from the word go, suggesting traders were not comfortable at higher levels. That said, the index defended the 11,500 level quite well through the day. It formed higher highs and lows for the eighth successive session. It may be a bit early to say if the rally is over, but the bulls clearly looked exhausted.For the day, the index settled at 11,521, down 11.35 points, or 0.10 per cent....
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How the valuation landscape has changed on Street in last 1 year

The valuation gap for the benchmark equity indices has narrowed compared with their peak valuations last year. Nifty’s estimated price-to-earnings multiple now stands at 18 times vis-à-vis 19.2 times in 2018.Similarly, the ratios have contracted to 16 times from 25.6 times for the midcap index and 15 times from 18.3 times for the smallcap benchmark. The index comprising smallcap stocks is down 31 per cent from its lifetime high despite recovering 16.5 per cent from its February low point.Last calendar, largecap stocks outperformed smallcaps and midcaps, with the Nifty 50...
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