Business

The plan will open up a steady stream of state companies to greater private investment, and target the kind of annual divestment revenue that will be crucial to meet fiscal deficit targets.

The company's co-promoters Rakesh Gangwal and Rahul Bhatia are locked in a bitter battle with the former seeking intervention of markets regulator Sebi to address the problems.

After rising as much as 335 points during the day, the 30-share index settled 266.07 points or 0.69 per cent higher at 38,823.11. The index hit an intra-day high of 38,892.50 and a low of 38,631.31.

Reliance Infrastructure said all its 16 lenders have signed the ICA for the resolution of the company’s debt, which meets the conditions set by the Reserve Bank of India (RBI) circular of June 7, 2019 on resolution of non-performing assets (NPAs).

Manpasand Beverages stock has lost over 63% since 24 May after top executives of the Vadodara-based company were arrested for an alleged Rs 40-crore fraud involving fake invoicing related to GST.

The government has bet on disinvestment and land asset monetisation to raise over Rs 1 lakh crore this year. A virtuous cycle for sell-off and land asset sale can be set in motion if there is strong political will.

'With this Budget, startups can expect lesser regulatory requirement, besides reducing their tax compliance burden,' NASSCOM Executive Council member and Snapdeal co-founder Kunal Bahl said.

The finance minister announced the launch of a new space company that will serve as the commercial arm of the Indian Space Research Organisation and allocated Rs 10 crore to the new company.

According to the Budget proposals, basic excise duty of Rs 5 per thousand will be added while duty on hookah and bidis have also been slightly increased.

While presenting the Budget for 2019-20, Finance Minister Nirmala Sitharaman said the initiative would lead to a benefit of around Rs 2.5 lakh for a customer during the entire duration of the loan.

Presenting her maiden Union Budget, Finance Minister Nirmala Sitharaman made the announcements on Friday.

Union Home Minister Amit Shah said the budget highlights the 'exemplary' work done in key sectors relating to the economy, housing, infrastructure and social sectors.

Presenting the first Budget of the Modi government in its second term, Nirmala Sitharaman said surcharges on individuals having taxable income of Rs 2 crore to Rs 5 crore; and Rs 5 crore and more have been raised.

Union Budget 2019: The stock has just returned nearly 4% to investors in the last one year, compared with a 12% rise in the benchmark Nifty.

Union Budget 2019: The BSE group ‘A’ stock of face value Rs 10 has touched a 52-week high of Rs 398.80 on 16 August 2018 and a 52-week low of Rs 296 on 5 October 2018.

Union Budget 2019: The Bharti Infratel stock has lost almost 11% in the last one year compared with a 12% rise in the benchmark Nifty 50 index.