Info Edge Surges On Increasing Stake In PolicyBazaar

Gold Silver Reports (GSR) – Info Edge Surges On Increasing Stake In PolicyBazaar – Shares of the Noida-based internet based service provider rose as much as 10 percent, the most in nearly seven months, to Rs 1,287 after it increased stake in an online insurance startup PolicyBazaar.  

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ICICI Bank Falls As SEBI Favours Adjudication Proceedings Against Bank, CEO

Gold Silver Reports (GSR) – ICICI Bank Falls As SEBI Favours Adjudication Proceedings Against Bank, CEO – Shares of the Mumbai-based private sector lender fell as much as 1.54 percent to Rs 285.25 after the market regulator favoured adjudication proceedings against ICICI Bank and its CEO Chanda Kochhar for alleged violation of listing disclosure norms, news agency Press Trust of India reported citing an unnamed official.

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Jet Airways Rises On Buying 75 Boeing Planes

Gold Silver Reports (GSR) – Jet Airways Rises On Buying 75 Boeing Planes – Shares of the Mumbai-based airline rose as much as 1.57 percent to Rs 384 after it purchased 75 of Boeing Co.’s 737 Max aircraft for about $8.8 billion as it looks to continue rapid expansion in the world’s fastest-growing major aviation market.  

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Rupee Seen Opening Lower Around 68.14/$

Gold Silver Reports (GSR) – Rupee Seen Opening Lower Around 68.14/$ — The Indian rupee could come under pressure as global investors turn risk averse amid continued worries about an escalating exchange of trade and investment restrictions, triggered by the Trump administration. Asian stocks extended a decline which could see portfolio outflows from Indian markets and which in turn could weigh on the rupee, traders said.

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Abandoned Power Plant a $38 Billion Warning Sign for India Banks

Gold Silver Reports (GSR) – Abandoned Power Plant a $38 Billion Warning Sign for India Banks — Like many of India’s power stations, the Jharkhand project had all the markings of success when a group led by State Bank of India lent about $700 million five years ago to build it. There’s abundant coal and water in the area, a rail track was set to run through the premises, and its promise of 1,080 megawatts of electricity was alluring in a country that faces persistent power shortages and blackouts.

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