Rudra Investment provide best financial service for individuals with the 2 days free trial on mobile via sms. The benchmark indices settled lower for the fifth straight session, falling 1.5 per cent weighed by financial and automobile stocks. The S&P BSE Sensex ended at 36,305, down 537 points. The index had hit an intraday low of 36,216.95. The broader Nifty50 index settled at 10,975, down 168 points, hitting an intraday low of 10,943.60. The bank stocks ended in red with Nifty Bank index slipping 2.6 per cent due to fall in share prices of RBL Bank and Punjab National Bank (PNB). The Nifty Auto index also fell 3.7 per cent due to a fall in Mahindra & Mahindra and Eicher Motors.
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• PM Modi launches Ayushman Bharat to provide Rs 500,000 health cover for 500 million.
• Tata Steel is eyeing synergies with Usha Martin’s Jamshedpur facility.
• Raymond m-cap doubles on strong profit growth, firm to expand across India.
• Kishore Biyani’s Future Retail sees high trade volumes amid Amazon buzz.
Won’t scrap Rafale deal, Hollande’s initial statement questionable: Jaitley
Finance Minister (FM) Arun Jaitley on Sunday said former French president François Hollande’s initial statement on the Rafale fighter jet deal was “highly questionable”, lacked credibility, and made with the sole purpose of stoking controversy.
He said Hollande’s statement to news agency Agence France-Presse on Saturday contradicted his earlier statement on the subject and pointed to Congress President Rahul Gandhi’s tweet of August 30 to suggest the entire episode was orchestrated to malign the Narendra Modi government.
Jaitley said Hollande had initially stated that Dassault Aviation entered into a partnership with Reliance Defense at the suggestion of the Indian government, but contradicted it later. The FM interpreted the former French president’s second statement to mean that neither of the governments had any role in the selection of Reliance Defense.
In a statement issued to the media on Sunday afternoon, Jaitley said Reliance Group (of industrialist Mukesh Ambani) was a part of the Rafale deal since 2012, but dropped out of ddefenceproduction, and the other Reliance Group (of industrialist Anil Ambani) was already in ddefence