Sensex Sheds Around 500 Points From Day s Highs; Autos, Financials Weak The benchmark indices have shaved off almost a per cent from the highs of the day due to some profit-booking in the auto and financial stocks in afternoon trading.
Updated: June 09, 2021 1:29 pm IST
The benchmark indices have shaved off almost a per cent from the highs of the day due to some profit-booking in the auto and financial stocks in afternoon trading. The BSE Sensex has surrendered around 500 points from the highs of the day and as of 1:15 pm, the BSE benchmark is trading at 52,042.55, down 231.75 points or 0.44 per cent and the NSE Nifty is at 15,667.20, down 71.95 points or 0.48 per cent. The broader markets, including the S&P BSE MidCap and SmallCap indices, were trading lower by 0.2 per cent respectively.
Government-headhunter PESB on Monday selected the next chairman and managing director of Bharat Petroleum Corporation Ltd (BPCL), in signs that the privatisation of the state-owned oil refining and marketing firm may be delayed. The government had kept the position of chairman and managing director vacant after D Rajkumar retired in August last year. It was thought that the government wants the new management to be named after the new management takes over after the privatisation of BPCL. The newly revamped Public Enterprise Selection Board (PESB) on Monday interviewed prospective candidates and selected Arun Kumar Singh for the position, the headhunter said in a notice.
$1.4 bn Cairn arbitration award: FM Sitharaman says its her duty to appeal
Last year, the government lost two high-profile arbitrations over the levy of taxes on British firms, using legislation that gave it the power to levy taxes with retrospective effect.
Finance Minister Nirmala Sitharaman
PTI
Finance Minister Nirmala Sitharaman on Friday indicated the government s intent to appeal against an arbitration panel asking India to return USD 1.4 billion to UK s Cairn Energy Plc, saying it is her duty to appeal in cases where the nation s sovereign authority to tax is questioned.
Last year, the government lost two high-profile arbitrations over the levy of taxes on British firms, using legislation that gave it the power to levy taxes with retrospective effect.
Cairn Energy arbitration: Nirmala Sitharaman says its her duty to appeal over USD 1.4 billion return
The tax department had in January 2014 raised the issue of alleged capital gains Cairn made on reorganising its India business prior to an IPO in 2006-07.
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NEW DELHI: Finance Minister Nirmala Sitharaman on Friday indicated the government s intent to appeal against an arbitration panel asking India to return USD 1.4 billion to UK s Cairn Energy Plc, saying it is her duty to appeal in cases where the nation s sovereign authority to tax is questioned.
Last year, the government lost two high-profile arbitrations over the levy of taxes on British firms, using legislation that gave it the power to levy taxes with retrospective effect.