As investigations into the Rs 11,400 cr scam at PNB, officials at overseas branches of other banks, where the fraudulently issued LoUs were encashed, are under scanner.
SBI today said it has an exposure of USD 212 mn in respect to LoUs issued by PNB to Nirav Modi, but does not have any direct exposure to the absconding jeweller designer.
Axis Bank said it is an active participant in the secondary market for transactions against letters of undertaking and it "sold down" certain such dealings with PNB.
Shares of PNB today extended its fall for the second straight session, falling as much as 9% in morning trade after the lender said it has detected a USD 1.77 bn fraud.
Recently, SBI reported an unexpected dip into the red. It’s a poor start to the tenure of new Chairman Rajnish Kumar, but he has a good idea of where the bank is headed.
Sensex languished on across the board sell-off, slumping 1,025 points points or 2.95 per cent in late morning deals crumbled by sharp losses in global markets.
Oil and gas explorer ONGC has entered into short-term loan agreements with three banks to part-fund its acquisition of HPCL.
Sensex ended 286.43 points, or 0.81 per cent higher at 35,798.01, smashing its previous record close of 35,511.58 reached on Friday.
Caution crept in ahead of quarterly result to be released later which include key names like Axis Bank and Asian Paints.
Earnings of bluechips like Axis Bank and Maruti Suzuki as well as derivatives expiry will dictate the market trend in a holiday-shortened week ahead, say experts.
To Issue Rs 8800 Cr worth equity shares on preferential basis to GoI
SBI puts Rs 1935 Cr worth loans up for sale to 24 entities
Seeks bids on cash basis or a mix of cash and security receipts
Approves Issue Price At Rs 300.82/Share For Preferential Issue To Govt
Financial Express Reports
POWER GRID CORP
Emerges as lowest bidder for Rs 1000 cr project
To set up Vindhychaal-Varanasi 765 KV transmission line
Financial Express Reports
Arm To Buy 65% Stake In Indian Film Combine Pvt For Rs 1,105 Cr
Arm To Also Buy 20% Of Indian Film Combine From Xander Group Arm, 45% from Co's Promoter Group
Announces successful regulatory inspection from USFDA for API Facility for Hyderabad Facility
AVIATION IN FOCUS
Jan Domestic Air Passenger Traffic At 1.15 Cr, Up 19.7% YoY
Air India Jan Passenger Load Factor At 84.6% vs 81.8% MoM
Jet Airways Jan Passenger Load Factor At 88.7% vs 88.5% MoM
IndiGo Jan Passenger Load Factor At 89.7% vs 90.8% MoM
SpiceJet Jan Passenger Load Factor At 95.0% vs 95.6% MoM
Air India Jan Market Share At 13.3% vs 13.1% MoM
Jet Airways Jan Market Share At 14.3% vs 14.6% MoM
IndiGo Jan Market Share At 39.7% vs 39.4% MoM
SpiceJet Jan Market Share At 12.6% vs 12.7% MoM