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Sensex and Nifty Recover, Uber Sells Its SE Asia Business et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Mar 26, 2018 12:30 PM 1 min read
Editorial

End of Day Wrap-up (Monday / March 26, 2018) #sensex #NIFTY #India #US #China #PNB #PNBscam #NiravModi #BSNL #Uber #freetrade #Transfin

Editor's comment: Sensex rises 470 points to 33,066, Nifty climbs 133 points to 10,131 as domestic stocks rebound amidst US China negotiation.

 

Uber sells its business in Southeast Asia to Singapore-based cab hiring technology company Grab for 27.5% stake in merged firm.

 

India will double its economy from current USD2.5 tn to USD5 tn in seven years as per the finance ministry spokesperson SC Garg.

 

Punjab National Bank could be labelled a defaulter if it fails to pay c. INR1,000cr to Union Bank of India by 31 march to settle claims against letters of undertakings issued by it.

 

Bharat Sanchar Nigam Ltd (BSNL) to invest c. INR4,300 cr to expand network and upgrade current infrastructure in 2018-19. Another c. INR5-6 cr to be used on projects like BharatNet.

 

China and US negotiates to improve US access to Chinese markets. Talks led by China’s economic czar Liu He and U.S. Treasury Secretary Steven Mnuchin and U.S. trade representative Robert Lighthizer in Washington.