Sensex falls 31 points in early trade ahead of RBI policy meet


Axis Bank Ltd is selling shares to raise as much as $1 billion, two sources with direct knowledge of the matter said on Monday.

The government is likely to make it easier for foreigners to prove their residency for claiming benefits under bilateral tax treaties, said a finance ministry official who did not wish to be named.


The finance ministry has asked the petroleum ministry to price motor and kitchen fuels at export parity, in a policy shift that would bring relief to fuel consumers and the economy but shake up the domestic oil retail market.

Adani Ports and Special Economic Zone Ltd has decided to sell 100 percent stake in Abbot Point Coal Terminal in Australia to the Adani family, said B Ravi, the company's chief financial officer.

India will look into the reasons behind the delay in Posco's proposed $12 billion steel plant in Odisha, according to a statement from the Commerce Ministry after South Korea termed clearance to the project as key to enhanced economic ties between the two nations.

Oil and Natural Gas Corp Ltd may not achieve any additional crude oil production this fiscal and just about reach last fiscal year's levels due to delay in commissioning of some of its marginal assets, according to Chairman Sudhir Vasudeva.


A section of Jet Airways India Ltd's technicians started a "symbolic" protest by wearing black bands last Friday against the "management's proposed move to freeze wage hike over the next two-three years," sources among the agitators said.

A Jet Airways spokesperson was quoted by PTI as saying the airline "has always adopted a conciliatory open-door policy with all its staff, including technicians."


Tata Realty and Infrastructure plans to float a real estate investment trust or a business trust in Singapore, a top official told the Financial Chronicle newspaper.

... contd.

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