BUSINESS HIGHLIGHTS
New Delhi, Aug 5 (PTI) Following are the top business stories at 2040 hours: DEL50 BIZ-LD-STOCKS **** Stock markets crash nearly 3pc amid global equity rout, investors lose Rs 15 lakh cr in single day Mumbai: Stock markets crashed nearly 3 per cent on Monday due to across-the-board selling in banking, IT, metal and oil & gas shares following a global equity rout, wiping out more than Rs 15 lakh crore of investor money in a single day. **** DEL89 BIZ-RUPEE-CLOSE **** Rupee tumbles 37 paise to hit all-time low of 84.09 against US dollar Mumbai: The rupee slumped 37 paise to settle at an all-time low of 84.09 against the US dollar on Monday, following a sell-off in broader global markets amid rising geopolitical tensions in the Middle East and worries over recession in the US. **** DEL73 BIZ-LD RESULTS-AIRTEL **** Bharti Airtel Q1 profit jumps 2.5 times to Rs 4,160 cr on higher ARPU, exceptional gains New Delhi: Telecom operator Bharti Airtel reported more than 2.5 times jump in its consolidated profit to Rs 4,160 crore in the April-June quarter of 2024-25 compared to the year-ago period driven by an improvement in average revenue per user and an exceptional gain of Rs 735 crore. **** DEL63 BIZ-STOCKS-LD WEALTH **** Stock market carnage makes investors poorer by Rs 15.32 lakh cr New Delhi: Stock market investors lost a whopping Rs 15.32 lakh crore on Monday following a crash in Indian equities triggered by a sharp plunge in Japanese and other global markets. **** DEL69 BANGLADESH-AIR INDIA-FLIGHTS **** Air India cancels flights to Dhaka New Delhi: Air India has cancelled its scheduled flights to and from Dhaka, with immediate effect on Monday due to the emerging situation in the wake of Bangladesh Prime Minister Sheikh Hasina resigning amid unprecedented anti-government protests. **** DEL8 BIZ-PMI-SERVICES **** India's services sector growth eases slightly in July; rising costs, robust demand push up inflation New Delhi: India's services sector growth recorded another month of robust expansion in July, albeit at a slightly slower pace than in June, largely supported by robust demand conditions and investment in technology, a monthly survey said on Monday. **** DEL53 AVI-INDIGO-2NDLD BUSINESS CLASS **** IndiGo to introduce business class seats from mid-November; announces loyalty programme New Delhi: IndiGo will introduce business class seats in select flights on 12 domestic routes starting from November 14 and also launch a customer loyalty programme, as the 18-year-old airline seeks to expand business and strengthen global presence. **** DEL39 BIZ-BANGLA-LIC **** LIC says its office in Bangladesh to remain closed till Aug 7 New Delhi: Public sector LIC on Monday said its office in Bangladesh will remain closed till August 7. **** DEL60 BIZ-GOLD **** Gold rises Rs 250 to Rs 72,800 per 10g; silver tumbles Rs 1,300 New Delhi: Gold prices rose by Rs 250 to Rs 72,800 per 10 grams in the local market here on Monday amid increased demand from jewellers. **** DEL78 BIZ-LD BYJU-CAVEAT **** Byju Raveendran files caveat before Supreme Court against US-based creditor New Delhi: As a lender to his edtech firm sought to block payment of Rs 158.9 crore to BCCI to avert insolvency, founder CEO Byju Raveendran has filed a caveat in the Supreme Court to prevent any ex-parte order being passed. **** DCM77 BIZ-SEBI-LD MUTUAL FUND **** Sebi amends mutual fund rules to curb front-running, insider trading New Delhi: Capital markets regulator Sebi has amended mutual fund norms requiring Asset Management Companies (AMCs) to put in place an institutional mechanism to identify and deter front-running and insider trading in securities. **** DCM47 BIZ-SEBI-BONUS SHARES **** Sebi proposes uniform timeline for credit, trading of bonus shares New Delhi: Markets regulator Sebi on Monday proposed a uniform timeline to ensure timely credit and trading of bonus shares in a bid to streamline the process to enable T+2 trading of such shares after the record date. **** DCM57 BIZ-RBI-CREDIT MODEL **** RBI proposes regulatory principles for management of model risks in credit Mumbai: The Reserve Bank on Monday proposed to lay down principles for management of model risks in credit for banks and other regulated entities with a view to ensuring prudence and robustness. **** PTI SGC BAL BAL
