Business

Finance Minister Nirmala Sitharaman had earlier this month in New York said that public sector banks in India had the "worst phase" under the combination of Manmohan Singh as PM and Raghuram Rajan as RBI governor.

Hong Kong's bourse fell behind the New York Stock Exchange and Nasdaq this year amid months of anti-government protests that have roiled the Asian financial hub.

Gold without receipt will have to be disclosed and tax would be payable based on the rate set by the government, sources said.

Expectations for another drop in borrowing costs, along with optimism over the China-US trade talks and healthy corporate reports have provided much-needed support to equities of late after a volatile year.

Asserting that the Modi government still has a crucial role to play in setting in motion reforms that will help India's long-term growth, the report said one step from the central government has an impact across India.

Other major gainers were Tata Steel, Yes bank, Axis Bank, Maruti Suzuki, Tech Mahindra and TCS -- rising as much as 7.09 per cent.

Fitbit shares rose 27% on the news, giving the company a market capitalisation of $1.4 billion.

Dhanteras was a muted affair in most markets across the country with traders complaining of lesser footfall and reduced consumer spending.

Infosys is listed in India as well as in the US, where a class action suit has also been filed against the Indian IT major to recover what has been termed by the litigants as losses suffered by investors there.

ITC was the top gainers in the Sensex pack, rising over 2 per cent, after the company reported a 37.06 per cent rise in consolidated net profit at Rs 4,173.72 crore for the second quarter ended September.

On Wednesday, gold futures were trading at Rs 38,044 per 10 gm on MCX. Prices were muted in the global markets, too, with spot gold inching up just 0.1% to $1,489.07 per ounce.

Analysts said growing expectations of a partial trade deal between the US and China next month bolstered the appetite for riskier assets like emerging currencies.

According to reports, a complaint by a group that calls itself 'Ethical Employees' has alleged CEO Salil Parekh and CFO Nilanjan Roy were indulging in 'unethical practices' to boost short-term revenue and profits.

A September 20 letter, signed by 'Ethical Employees', had alleged that Parikh as well as Chief Financial Officer Nilanjan Roy engaged in forced revenue recognition from large contracts not adhering to accounting standards.

The benchmark S&P BSE Sensex fell 97.94 points, or 0.25%, to 39,200.44, while the Nifty 50 index slipped 6.95 points, or 0.06%, to 11,654.90. Infosys, RIL, Yes Bank, HDFC Bank, Tata Motors, Bharti Infratel and Axis Bank were among the key stocks in news o...

The IT major has acknowledged the matter with an Infosys audit committee looking into whistleblower complaints against top executives.