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SEBI serves Chanda Kochhar, Saudi Arabia eases Oil cuts et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
May 26, 2018 3:04 PM 2 min read
Editorial

 

SEBI serves Chanda Kochhar, Saudi Arabia eases Oil cuts et al.

Editor's Comment: SEBI serves notice on ICICI Bank CEO Chanda Kochhar in light of conflict of interest allegations with regard to loan to Videocon Group. Videocon Group allegedly gave kickbacks to her husband in exchange for a loan from ICICI.

 

Natural gas and Aviation Turbine Fuel may be reportedly included in GST before petrol and diesel are considered, as per officials. Civil Aviation Secretary says proposal would be sent to Finance Ministry in light of high crude oil prices. 

 

Bank of Baroda posts loss of INR3,102cr in March quarter, missing estimates due to high provisioning for NPAs. Net NPAs increase to 5.49% from 4.97% at December end.

 

Tech Mahindra posts profit of INR1,222cr in March quarter, beating estimates due to rise in deal wins and a weakening rupee. 8.3% rise in number of active clients, strong growth in deal wins in $5m and $10m segments. 

 

Crude Oil prices drop by $3 per barrel on Friday as Saudi Arabia and Russia discuss the easing of supply curbs. Russian and Saudi Oil Ministers meet in St, Petersburg to review terms of global oil pact in place for the last 17 months ahead of key OPEC meeting in Vienna next month.

 

Fiat Chrysler Automobiles to recall more than 5m vehicles in US and Canada to fix their cruise control function. A programming flaw could prevent drivers from cancelling cruise control to slow their cars.