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4
June 2018
The
major indices of the Indian stock markets opened lower over on Monday and
closed with loss over Friday’s close. On the NSE, there were 310 advances, 1444
declines and 312 unchanged. Buying was observed in capital goods, banking and
oil and gas stocks. The trends of the major indices in the course of Monday’s
trading are given in the table below: The Total
Investment & Insurance Solutions
RBI's
Monetary Policy Committee (MPC) meeting to decide on its second policy review
of the fiscal got underway here on Monday to enable deliberations on interest
rates the first time over a longer period of three days in the backdrop of
surging global oil prices and higher domestic inflation. In a notice issued in
mid-May, the Reserve Bank of India (RBI) announced that this extraordinary
extension of the MPC meeting due to "administrative exigencies" was
one-off and there are no changes to the two-day meeting schedule for the rest
of the fiscal.
At
its last bi-monthly monetary policy review in April, while holding its repo, or
short term lending rate for banks, at 6% for the fourth time in succession, the
MPC had signalled the prospect of a more hawkish stance on interest rates.
While the central bank continued with its 'neutral' stance, the released
minutes of the MPC meeting showed that RBI Deputy Governor Viral Acharya is
likely to vote for "withdrawal of accommodation" at the MPC meeting
this time.
Former
IDBI Bank MD and Chief Executive M.K Jain was on Monday appointed as new Deputy
Governor of the Reserve Bank of India (RBI) for a period of three years, an
official statement said. The appointment was made by the Financial Sector
Regulatory Appointment Search Committee, which includes the Reserve Bank of
India (RBI) Governor, the Financial Services Secretary, besides other
independent members. Jain has been at his current post at state-run IDBI Bank
since April 2017 and has previously served as the Chief Executive of Indian
Bank. A career banker, he has also been a member of the Indian Banks'
Association Committee on risk management. The
Total Investment & Insurance Solutions
The
Supreme Court on Monday said that Binani Cement's Committee of Creditors (CoC)
is not debarred from considering the revised Ultratech bid to acquire the
beleaguered company but restrained it from taking a final decision. Refusing to
debar the CoC from carrying on with further proceedings, which would be subject
to the orders of the court, a vacation bench of Justice Adarsh Kumar Goel and
Justice Ashok Bhushan, however, said that "no final order may be
passed". "In the meantime, no final order may be passed. This order
will not debar further proceedings subject to orders of this Court," said
the order passed by the bench on Monday. The
Total Investment & Insurance Solutions
The
court also issued notice to Ultratech Cement and others on the plea by the
Dalmia Bharat Group's Rajputana Properties Private Ltd (RPPL) challenging the
Kolkata NCLT order asking the CoC to consider revised bid by Ultratech Cement.
The Kolkata Bench of NCLT had in early May asked the CoC to consider revised
bid by Ultratech Cement. Ultratech's revised bid is more than Rs 1,000 crore
higher than the one offered by the RPPL. The court directed the next hearing of
the matter on July 2. The Total Investment
& Insurance Solutions
The
top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices
are given in the table below: The Total
Investment & Insurance Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
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