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Stocks staged a comeback in early trade with the BSE Sensex gaining over 157 points and the Nifty recapturing the 10,400-level on buying by investors in metal, capital goods, teck and IT stocks amid a mixed trend at other Asian Markets.

The 30-share Sensex recovered by 157.24 points, or 0.46 per cent, to 33,931.90 in opening trade. The index had lost 522.81 points in the previous two sessions.

Sectoral indices led by metal, capital goods, Teck and IT were trading in the green with gains of up to 0.75 per cent.

The broad-based NSE Nifty went up by 23.95 points or 0.23 per cent to 10,402.35.

Tata Steel rose up to 1.5 per cent in early trade after reports suggest the steel maker was leading bidder for debt-ridden Bhushan Steel.

IT stocks TCS, and Infosys also advanced up to 1.7 per cent on a weaker rupee.

Banking stocks ICICI Bank, Axis Bank and Yes Bank gained on value buying after recent losses.

Bharti Airtel, HDFC Ltd, L&amp;T, M&amp;M and ONGC also rose up to 1.4 per cent.

However, Punjab National Bank, embroiled in the Rs 11,300 crore scam, remained weak and shed another 3.31 per cent while Gitanjai Gems lost 9.91 per cent.

Brokers said buying by domestic institutional funds and investors amid a mixed trend at other Asian bourses improved the market sentiment.

Domestic institutional investors (DIIs) bought shares worth a net Rs 586.52 crore yesterday, as per provisional data.

Overseas, Asian stocks were trading mixed as Treasury yields climbed back toward recent four-year highs. Chinese markets will reopen on Thursday, 22 February. US markets remained closed yesterday, in observance of Presidents Day.

In the Asian region, Hong Kong&#39;s Hang Seng was up 0.66 per cent, while Japan&#39;s Nikkei was down 1.20 per cent in early trade today. Shanghai Composite remained closed for a public holiday.

The sensex had lost 522.81 points in the previous two sessions

Stocks staged a comeback in early trade with the BSE Sensex gaining over 157 points and the Nifty recapturing the 10,400-level on buying by investors in metal, capital goods, teck and IT stocks amid a mixed trend at other Asian Markets. The 30-share Sensex recovered by 157.24 points, or 0.46 per cent, to 33,931.90 in opening trade. The index had lost 522.81 points in the previous two sessions. Sectoral indices led by metal, capital goods, Teck and IT were trading in the green with gains of up to 0.75 per cent. The broad-based NSE Nifty went up by 23.95 points or 0.23 per cent to 10,402.35. Tata Steel rose up to 1.5 per cent in early trade after reports suggest the steel maker was leading bidder for debt-ridden Bhushan Steel. IT stocks TCS, and Infosys also advanced up to 1.7 per cent on a weaker rupee. Banking stocks ICICI Bank, Axis Bank and Yes Bank gained on value buying after recent losses. Bharti Airtel, HDFC Ltd, L&T, M&M and ONGC also rose up to 1.4 per cent. However, Punjab National Bank, embroiled in the Rs 11,300 crore scam, remained weak and shed another 3.31 per cent while Gitanjai Gems lost 9.91 per cent. Brokers said buying by domestic institutional funds and investors amid a mixed trend at other Asian bourses improved the market sentiment. Domestic institutional investors (DIIs) bought shares worth a net Rs 586.52 crore yesterday, as per provisional data. Overseas, Asian stocks were trading mixed as Treasury yields climbed back toward recent four-year highs. Chinese markets will reopen on Thursday, 22 February. US markets remained closed yesterday, in observance of Presidents Day. In the Asian region, Hong Kong's Hang Seng was up 0.66 per cent, while Japan's Nikkei was down 1.20 per cent in early trade today. Shanghai Composite remained closed for a public holiday.

Sensex recovers 157 points, Nifty above 10,400-mark

The BSE Sensex on Monday cracked below the 34,000-mark by plunging over 236 points to end at a nearly two-month low of 33,774.66 on sustained selling in PSU, metal and banking counters amid the <a href="http://www.wionews.com/india-news/pnb-scam-same-person-sent-requests-for-bank-guarantees-approved-them-33322">massive PNB fraud</a> weighing on investors&#39; sentiment.

Moreover, renewed concerns that a rebound in global crude oil prices will have an adverse impact on fiscal deficit too kept participants cautious.

Shares of Punjab National Bank (PNB) fell about eight per cent, extending the decline for a fourth straight session, following the Rs 11,400-crore fraud at its Brady Road branch, Mumbai. The stock has fallen nearly 31 per cent in four straight sessions since the bank detected the fraud.

Last Wednesday, the state-run lender said it had detected a fraud in which diamond jewellery designer Nirav Modi allegedly acquired fraudulent letters of undertaking (LoUs) from one of its branches for overseas credit from other Indian lenders, and the matter is being probed by the CBI and the Enforcement Directorate, among other agencies.

The 30-share Sensex barometer, which had lost 286.71 points in the previous session on Friday, plunged by 236.10 points, or 0.69 per cent, to end at 33,774.66 after touching a low of 33,554.37 intra-day. This is the weakest closing since December 21 last year when it had closed at 33,756.20.

Also, the broader Nifty too declined by 73.90 points, or 0.71 per cent, to end at 10,378.40. It stayed in the negative terrain through the session and a hit a low of 10,302.75.

Meanwhile, foreign portfolio investors (FPIs) continued selling on domestic bourses. On net basis, they sold shares worth Rs 1,065.99 crore, while domestic institutional investors (DIIs) made purchases to the tune of Rs 1,127.78 crore on Friday, provisional data showed.

Globally, in the Asian region, Japan&#39;s Nikkei rose 1.33 per cent, while markets in Hong Kong and China remained shut today on account of a public holiday. European markets were higher in their early deals.

Punjab National Bank fell for the fourth straight day and closed 8.3 per cent lower

The BSE Sensex on Monday cracked below the 34,000-mark by plunging over 236 points to end at a nearly two-month low of 33,774.66 on sustained selling in PSU, metal and banking counters amid the massive PNB fraud weighing on investors' sentiment. Moreover, renewed concerns that a rebound in global crude oil prices will have an adverse impact on fiscal deficit too kept participants cautious. Shares of Punjab National Bank (PNB) fell about eight per cent, extending the decline for a fourth straight session, following the Rs 11,400-crore fraud at its Brady Road branch, Mumbai. The stock has fallen nearly 31 per cent in four straight sessions since the bank detected the fraud. Last Wednesday, the state-run lender said it had detected a fraud in which diamond jewellery designer Nirav Modi allegedly acquired fraudulent letters of undertaking (LoUs) from one of its branches for overseas credit from other Indian lenders, and the matter is being probed by the CBI and the Enforcement Directorate, among other agencies. The 30-share Sensex barometer, which had lost 286.71 points in the previous session on Friday, plunged by 236.10 points, or 0.69 per cent, to end at 33,774.66 after touching a low of 33,554.37 intra-day. This is the weakest closing since December 21 last year when it had closed at 33,756.20. Also, the broader Nifty too declined by 73.90 points, or 0.71 per cent, to end at 10,378.40. It stayed in the negative terrain through the session and a hit a low of 10,302.75. Meanwhile, foreign portfolio investors (FPIs) continued selling on domestic bourses. On net basis, they sold shares worth Rs 1,065.99 crore, while domestic institutional investors (DIIs) made purchases to the tune of Rs 1,127.78 crore on Friday, provisional data showed. Globally, in the Asian region, Japan's Nikkei rose 1.33 per cent, while markets in Hong Kong and China remained shut today on account of a public holiday. European markets were higher in their early deals.

Sensex ends day 236 points down, weakest closing since December 21

Apple Inc said on Thursday <a href="http://www.wionews.com/business-economy/apples-revenue-outlook-not-as-bad-as-some-feared-analysts-31600">a bug in some versions of its operating </a>systems is causing its devices to crash when a single character in Telugu is sent to the device or typed in text editor.

The company was working on a fix for the iOS 11, the macOS High Sierra, watchOS 4 and tvOS 11 versions that the bug affects, an Apple spokesperson said.

The company said older versions were not affected by the bug and added that Apple had already fixed the issue in the current beta versions of the operating systems.

Devices running on iOS 11 are affected and crash when any application receives the character, tech news website The Verge reported.&nbsp;

Apps become unresponsive, including Apple&#39;s iMessage and third-party applications like WhatsApp, Gmail and Facebook messenger, the news report said.

However, some apps like Telegram and Skype seem to be unaffected, the report said, adding that an Italian blog Mobile World spotted the bug.

The company was working on a fix for the iOS 11, the macOS High Sierra, watchOS 4 and tvOS 11 versions that the bug affects

Apple Inc said on Thursday a bug in some versions of its operating systems is causing its devices to crash when a single character in Telugu is sent to the device or typed in text editor. The company was working on a fix for the iOS 11, the macOS High Sierra, watchOS 4 and tvOS 11 versions that the bug affects, an Apple spokesperson said. The company said older versions were not affected by the bug and added that Apple had already fixed the issue in the current beta versions of the operating systems. Devices running on iOS 11 are affected and crash when any application receives the character, tech news website The Verge reported. Apps become unresponsive, including Apple's iMessage and third-party applications like WhatsApp, Gmail and Facebook messenger, the news report said. However, some apps like Telegram and Skype seem to be unaffected, the report said, adding that an Italian blog Mobile World spotted the bug.

Working to fix Telugu script bug causing device crash: Apple

The Sensex and Nifty rose on Thursday tracking global markets, but Punjab National Bank fell for a second consecutive session after saying it unearthed $1.77 billion in fraudulent transactions, dragging down other state-run lenders.

The benchmark BSE Sensex closed up 0.41 percent at 34,297.47.&nbsp;

The broader NSE Nifty ended 0.42 percent higher at 10,545.50, its highest close in a week.

Punjab National Bank shares ended 12.9 percent lower, hitting their lowest close since Oct. 23, after falling as much as 14.2 percent on Wednesday.

The Nifty PSU bank index lost 1.1 percent.

Punjab National Bank shares ended 12.9 percent lower, hitting their lowest close since Oct. 23, after falling as much as 14.2 percent on Wednesday

The Sensex and Nifty rose on Thursday tracking global markets, but Punjab National Bank fell for a second consecutive session after saying it unearthed $1.77 billion in fraudulent transactions, dragging down other state-run lenders. The benchmark BSE Sensex closed up 0.41 percent at 34,297.47. The broader NSE Nifty ended 0.42 percent higher at 10,545.50, its highest close in a week. Punjab National Bank shares ended 12.9 percent lower, hitting their lowest close since Oct. 23, after falling as much as 14.2 percent on Wednesday. The Nifty PSU bank index lost 1.1 percent.

Sensex, Nifty end higher; PNB slumps for second day

India&#39;s annual wholesale price inflation eased in January for the second straight month after touching an eight-month high in November, helped by a softer rise in food and fuel prices, government data showed on Thursday.

Annual wholesale price inflation last month slowed to 2.84 percent from a year earlier, from a provisional 3.58 percent rise in December.

Wholesale food prices in January rose 1.65 percent year-on-year, compared with a 2.91 percent rise a month earlier, the data showed.

Wholesale food prices in January rose 1.65 percent year-on-year, compared with a 2.91 percent rise a month earlier, the data showed.

India's annual wholesale price inflation eased in January for the second straight month after touching an eight-month high in November, helped by a softer rise in food and fuel prices, government data showed on Thursday. Annual wholesale price inflation last month slowed to 2.84 percent from a year earlier, from a provisional 3.58 percent rise in December. Wholesale food prices in January rose 1.65 percent year-on-year, compared with a 2.91 percent rise a month earlier, the data showed.

Inflation falls in January on softer food, fuel prices

The BSE benchmark <a href="http://www.wionews.com/business-economy/rupee-at-2-week-high-in-opening-trade-32928">Sensex surged over 167 points</a>, staging a strong recovery in early trade today on firm cues from global markets.

A stronger rupee against the dollar also influenced market sentiment.

The 30-share index was trading higher by 167.12 points, or 0.48 per cent, at 34,323.07. The gauge had lost 144.52 points in the previous session.&nbsp;The NSE Nifty gained 47.45 points, or 0.45 per cent, to 10.548.35.

Widespread buying was seen in metal, healthcare and realty counters. Major gainers were Adani ports, HDFC, ICICI Bank, SBI, Dr Reddy&#39;s, Tata Motors, Yes Bank, Reliance Industries and Maruti Suzuki, rising up to 2.17 per cent.

Punjab National Bank dropped sharply by 8.47 per cent following the Rs 11,400 crore scam at one of its Mumbai branches.

Gitanjali Gems plunged nearly 19 per cent on reports over its involvement in the PNB fraud case.

Brokers said a firm trend at other Asian markets boosted investor sentiment, following overnight gains on Wall Street as investors shrugged off stronger-than-expected inflation data.

Meanwhile, Hong Kong&#39;s Hang Seng was up 1.69 per cent and Shanghai Composite Index by rose 0.45 per cent in early trade. Japan&#39;s Nikkei also gained 1.33 per cent. The US Dow Jones Industrial Average ended 1.03 per cent higher yesterday.

The 30-share index was trading higher by 167.12 points, or 0.48 per cent, at 34,323.07

The BSE benchmark Sensex surged over 167 points, staging a strong recovery in early trade today on firm cues from global markets. A stronger rupee against the dollar also influenced market sentiment. The 30-share index was trading higher by 167.12 points, or 0.48 per cent, at 34,323.07. The gauge had lost 144.52 points in the previous session. The NSE Nifty gained 47.45 points, or 0.45 per cent, to 10.548.35. Widespread buying was seen in metal, healthcare and realty counters. Major gainers were Adani ports, HDFC, ICICI Bank, SBI, Dr Reddy's, Tata Motors, Yes Bank, Reliance Industries and Maruti Suzuki, rising up to 2.17 per cent. Punjab National Bank dropped sharply by 8.47 per cent following the Rs 11,400 crore scam at one of its Mumbai branches. Gitanjali Gems plunged nearly 19 per cent on reports over its involvement in the PNB fraud case. Brokers said a firm trend at other Asian markets boosted investor sentiment, following overnight gains on Wall Street as investors shrugged off stronger-than-expected inflation data. Meanwhile, Hong Kong's Hang Seng was up 1.69 per cent and Shanghai Composite Index by rose 0.45 per cent in early trade. Japan's Nikkei also gained 1.33 per cent. The US Dow Jones Industrial Average ended 1.03 per cent higher yesterday.

Sensex rises 167 points in early trade

Wireless carrier Idea Cellular on Wednesday launched a share sale to institutional investors to raise up to 35 billion rupees ($546 million) ahead of its merger with Vodafone&#39;s Indian business.

Idea, part of the metals-to-financials Aditya Birla conglomerate, intends to use the funds to reduce debt including loans for airwave purchases, it said in a regulatory filing.

Last month Idea announced plans to raise a total 67.5 billion rupees ahead of proposed merger, which the two sides expect to close during the first half of this year.

Idea said that the share sale launched on Wednesday has a floor price of 86.84 rupees per share, with a potential discount of up to 5 percent. The shares closed at 84.80 rupees on the National Stock Exchange.

Bank of America Merrill Lynch and Citigroup are managing the sale.

 
&nbsp;

The wireless carrier on Wednesday launched a share sale to institutional investors ahead of its merger with Vodafone's Indian business

Wireless carrier Idea Cellular on Wednesday launched a share sale to institutional investors to raise up to 35 billion rupees ($546 million) ahead of its merger with Vodafone's Indian business. Idea, part of the metals-to-financials Aditya Birla conglomerate, intends to use the funds to reduce debt including loans for airwave purchases, it said in a regulatory filing. Last month Idea announced plans to raise a total 67.5 billion rupees ahead of proposed merger, which the two sides expect to close during the first half of this year. Idea said that the share sale launched on Wednesday has a floor price of 86.84 rupees per share, with a potential discount of up to 5 percent. The shares closed at 84.80 rupees on the National Stock Exchange. Bank of America Merrill Lynch and Citigroup are managing the sale.

Idea Cellular launches up to $546 million share sale

The rupee gained another 14 paise to trade at a two-week high of 63.95 against the US dollar in opening trade today on dollar selling by exporters and banks amid firm equities.

The dollar&#39;s weakness against other currencies overseas also supported the rupee sentiment, a currency dealer said.

The rupee moved between 63.98 per dollar and 63.93 per dollar at the interbank forex market in early trade.

The dollar fell further against the yen to hit a 15-month low in Asian trade while the euro gained after a firm German growth.

Yesterday, the rupee had gained 23 paise to close at 64.09 a dollar on sustained selling of the American currency by exporters and banks.

Meanwhile, the benchmark BSE Sensex rose by 167.12 points, or 0.48 per cent, to trade at 34,323.07 in morning trade.

The dollar fell further against the yen to hit a 15-month low in Asian trade while the euro gained after a firm German growth.

The rupee gained another 14 paise to trade at a two-week high of 63.95 against the US dollar in opening trade today on dollar selling by exporters and banks amid firm equities. The dollar's weakness against other currencies overseas also supported the rupee sentiment, a currency dealer said. The rupee moved between 63.98 per dollar and 63.93 per dollar at the interbank forex market in early trade. The dollar fell further against the yen to hit a 15-month low in Asian trade while the euro gained after a firm German growth. Yesterday, the rupee had gained 23 paise to close at 64.09 a dollar on sustained selling of the American currency by exporters and banks. Meanwhile, the benchmark BSE Sensex rose by 167.12 points, or 0.48 per cent, to trade at 34,323.07 in morning trade.

Rupee at 2-week high in opening trade

Stung by a massive Rs 11,400 crore fraud, state-run Punjab National Bank (PNB) has lost over Rs 8,000 crore of market valuation in two days -- an amount equivalent to over six-times its full-year profit.

PNB today extended its fall for the second straight session and ended the day 12 per cent lower at Rs 128.35 on BSE. The stock had fallen 10 per cent yesterday, after the lender said it had detected a Rs 11,400 crore (USD 1.77 billion) fraud at a Mumbai branch.

Following the slump in the counter over the last two days, the market capitalisation of the company has plunged a whopping Rs 8,076.59 crore to Rs 31,132.41 crore. This is more than 6-times of the company&#39;s full-year net profit of Rs 1,324 crore recorded in FY 2016-17.

The quantum of fraud itself is more than 8-times the bank&#39;s annual profit.

Also read: <a href="http://www.wionews.com/india-news/scam-began-in-2011-bank-discovered-it-in-january-2018-pnb-md-32969" target="_blank">Scam began in 2011, bank discovered it in January 2018, says&nbsp;PNB MD</a>

Also read: <a href="http://www.wionews.com/india-news/who-is-nirav-modi-the-billionaire-jeweller-at-centre-of-rs-11000-crore-scam-32970" target="_blank">Who is Nirav Modi, the billionaire jeweller at centre of Rs 11,400 crore PNB scam</a>

The state-owned bank said it had detected a USD 1.77 billion fraud in which billionaire jeweller Nirav Modi allegedly acquired fraudulent letters of undertaking (LoUs) from one of its branches for overseas credit from other Indian lenders.

PNB has suspended 10 officers over the scam and referred the matter to CBI for investigation.

Meanwhile, shares of PNB Housing Finance settled for the day at Rs 1199.00, down 4.30 per cent on the BSE.

While PNB did not name other lenders, Union Bank of India, Allahabad Bank and Axis Bank are said to have offered credit based on LoUs issued by PNB.

An LoU is a letter of comfort issued by one bank to branches of other banks, based on which foreign branches offer credit to buyers.

Consequently, shares of Union Bank of India settled down 0.95 per cent, Allahabad Bank ended the day down 2.31 per cent and Axis Bank was quoted down 0.17 per cent.

This could be the biggest banking fraud in India as its quantum was bigger than an estimated Rs 9,000 crore scam at erstwhile Satyam Computers.&nbsp;

PNB stock fell 12% today, ending at Rs 128.35 on the Bombay Stock Exchange. The stock had fallen 10% yesterday

Stung by a massive Rs 11,400 crore fraud, state-run Punjab National Bank (PNB) has lost over Rs 8,000 crore of market valuation in two days -- an amount equivalent to over six-times its full-year profit. PNB today extended its fall for the second straight session and ended the day 12 per cent lower at Rs 128.35 on BSE. The stock had fallen 10 per cent yesterday, after the lender said it had detected a Rs 11,400 crore (USD 1.77 billion) fraud at a Mumbai branch. Following the slump in the counter over the last two days, the market capitalisation of the company has plunged a whopping Rs 8,076.59 crore to Rs 31,132.41 crore. This is more than 6-times of the company's full-year net profit of Rs 1,324 crore recorded in FY 2016-17. The quantum of fraud itself is more than 8-times the bank's annual profit. Also read: Scam began in 2011, bank discovered it in January 2018, says PNB MD Also read: Who is Nirav Modi, the billionaire jeweller at centre of Rs 11,400 crore PNB scam The state-owned bank said it had detected a USD 1.77 billion fraud in which billionaire jeweller Nirav Modi allegedly acquired fraudulent letters of undertaking (LoUs) from one of its branches for overseas credit from other Indian lenders. PNB has suspended 10 officers over the scam and referred the matter to CBI for investigation. Meanwhile, shares of PNB Housing Finance settled for the day at Rs 1199.00, down 4.30 per cent on the BSE. While PNB did not name other lenders, Union Bank of India, Allahabad Bank and Axis Bank are said to have offered credit based on LoUs issued by PNB. An LoU is a letter of comfort issued by one bank to branches of other banks, based on which foreign branches offer credit to buyers. Consequently, shares of Union Bank of India settled down 0.95 per cent, Allahabad Bank ended the day down 2.31 per cent and Axis Bank was quoted down 0.17 per cent. This could be the biggest banking fraud in India as its quantum was bigger than an estimated Rs 9,000 crore scam at erstwhile Satyam Computers.

PNB loses Rs 8,000 crore market cap in 2 days, six times its annual profit

An American business advocacy group has asked US Trade Representative to continue to place India on its priority watch list, alleging that there is strong evidence that New Delhi has not made sufficient efforts to protect Intellectual Property Rights holders&#39; interests.

 
While the Government of India made some noteworthy improvements to the overall IP environment in 2017, the Alliance for Fair Trade with India (AFTI) said New Delhi did not address numerous critical and longstanding shortcomings to its IPR regime.

 
These critical shortcomings include costly and time-consuming patent opposition hurdles for patent applicants, and long timelines for receiving patents; and lack an effective system for protecting data generated to obtain marketing approval for pharmaceutical and agricultural chemical products, it said.

 
&quot;There is strong evidence that India has not made sufficient efforts to emerge from its current status under the Priority Watch List, or to protect adequately IPR holders&#39; interests with respect to patents, copyright, and trade secrets,&quot; it said in its submission to the USTR on the latter&rsquo;s Special 301 review.

 
The Special 301 Report is prepared annually by the Office of the United States Trade Representative (USTR) which identifies trade barriers to US companies and products due to the intellectual property laws, such as copyright, patents and trademarks, in other countries.

 
&quot;AFTI requests that USTR once again place India on its Priority Watch List, where it has been placed &ndash; except for the few years it was listed as a Priority Foreign Country &ndash; since the first Special 301 Report in 1989,&quot;it said. 
AFTI members saw several new actions over the past year that created significant new IP challenges, it said.

 
These include troublesome steps related to Section 8 of the Patent Law, new court rulings related to &quot;patent working&quot;, and a stronger push by India in international forums to weaken strong international rules for IPR protection, AFTI said.

 
The AFTI alleged that forced localisation continues to be a chronic issue facing US IPR holders in India.

 
&quot;The Modi administration has not taken meaningful action to revise protectionist forced localisation policies clearly aimed at favouring domestic IP holders at the expense of goods, services, and IP from other countries,&quot; it said. 
&quot;In addition, his &#39;Make in India&#39; campaign has given some additional fodder to those who wish to promote local IPR and local manufacturing at the expense of US companies and products,&quot; the AFTI said.

Alliance for Fair Trade with India said New Delhi did not address numerous critical and longstanding shortcomings to its IPR regime

An American business advocacy group has asked US Trade Representative to continue to place India on its priority watch list, alleging that there is strong evidence that New Delhi has not made sufficient efforts to protect Intellectual Property Rights holders' interests. While the Government of India made some noteworthy improvements to the overall IP environment in 2017, the Alliance for Fair Trade with India (AFTI) said New Delhi did not address numerous critical and longstanding shortcomings to its IPR regime. These critical shortcomings include costly and time-consuming patent opposition hurdles for patent applicants, and long timelines for receiving patents; and lack an effective system for protecting data generated to obtain marketing approval for pharmaceutical and agricultural chemical products, it said. "There is strong evidence that India has not made sufficient efforts to emerge from its current status under the Priority Watch List, or to protect adequately IPR holders' interests with respect to patents, copyright, and trade secrets," it said in its submission to the USTR on the latter’s Special 301 review. The Special 301 Report is prepared annually by the Office of the United States Trade Representative (USTR) which identifies trade barriers to US companies and products due to the intellectual property laws, such as copyright, patents and trademarks, in other countries. "AFTI requests that USTR once again place India on its Priority Watch List, where it has been placed – except for the few years it was listed as a Priority Foreign Country – since the first Special 301 Report in 1989,"it said. AFTI members saw several new actions over the past year that created significant new IP challenges, it said. These include troublesome steps related to Section 8 of the Patent Law, new court rulings related to "patent working", and a stronger push by India in international forums to weaken strong international rules for IPR protection, AFTI said. The AFTI alleged that forced localisation continues to be a chronic issue facing US IPR holders in India. "The Modi administration has not taken meaningful action to revise protectionist forced localisation policies clearly aimed at favouring domestic IP holders at the expense of goods, services, and IP from other countries," it said. "In addition, his 'Make in India' campaign has given some additional fodder to those who wish to promote local IPR and local manufacturing at the expense of US companies and products," the AFTI said.

India hasn't made enough efforts to protect IPR holders' interests: US trade body

The benchmark BSE Sensex gained 173 points to 34,473.43 in early trade today, rising for the second straight session on back of positive macroeconomic data and sustained buying by domestic institutional investors (DIIs) amid appreciating rupee.

 
Besides, a mixed trend in other Asian markets following positive lead from Wall Street buoyed sentiment here.

 
The 30-share barometer rose 172.96 points, or 0.50 per cent, to 34,473.43 in opening session. All sectoral indices were trading in the green, with realty, metal, capital goods and oil &amp; gas rising up to 1.65 per cent.&nbsp;The NSE index Nifty climbed 41.50 points, or 0.39 per cent, to 10,581.25.

 
Brokers said buying picked up on positive economic data. Industrial output grew by 7.1 per cent in December and retail inflation eased in January to 5.07 per cent.

 
DIIs bought shares worth Rs 1,342.70 crore on net basis, while foreign portfolio investors (FPIs) sold shares worth Rs 814.11 crore on net basis on Monday, provisional data showed.

 
Major gainers were Bharti Airtel, HDFC, Adani Ports, Wipro, RIL, Dr Reddy&#39;s, L&amp;T, HDFC Bank, Infosys, Tata Steel, M&amp;M, Yes Bank and Coal India, gaining up to 1.92 per cent.

 
Among other Asian markets, Hong Kong&#39;s Hang Seng was up 0.73 per cent and Singapore edged up 0.05 per cent, while Japan&#39;s Nikkei fell 0.64 per cent and China&#39;s Shanghai Composite index slipped 0.32 per cent.

 
The US Dow Jones Industrial Average, however, closed 0.16 per cent higher in yesterday&#39;s trade.

The 30-share barometer rose 172.96 points, or 0.50 per cent, to 34,473.43 in opening session

The benchmark BSE Sensex gained 173 points to 34,473.43 in early trade today, rising for the second straight session on back of positive macroeconomic data and sustained buying by domestic institutional investors (DIIs) amid appreciating rupee. Besides, a mixed trend in other Asian markets following positive lead from Wall Street buoyed sentiment here. The 30-share barometer rose 172.96 points, or 0.50 per cent, to 34,473.43 in opening session. All sectoral indices were trading in the green, with realty, metal, capital goods and oil & gas rising up to 1.65 per cent. The NSE index Nifty climbed 41.50 points, or 0.39 per cent, to 10,581.25. Brokers said buying picked up on positive economic data. Industrial output grew by 7.1 per cent in December and retail inflation eased in January to 5.07 per cent. DIIs bought shares worth Rs 1,342.70 crore on net basis, while foreign portfolio investors (FPIs) sold shares worth Rs 814.11 crore on net basis on Monday, provisional data showed. Major gainers were Bharti Airtel, HDFC, Adani Ports, Wipro, RIL, Dr Reddy's, L&T, HDFC Bank, Infosys, Tata Steel, M&M, Yes Bank and Coal India, gaining up to 1.92 per cent. Among other Asian markets, Hong Kong's Hang Seng was up 0.73 per cent and Singapore edged up 0.05 per cent, while Japan's Nikkei fell 0.64 per cent and China's Shanghai Composite index slipped 0.32 per cent. The US Dow Jones Industrial Average, however, closed 0.16 per cent higher in yesterday's trade.

Sensex extends rally, rises 173 points in opening trade

South Korea said on Wednesday it will take firm action against illegal and unfair acts in cryptocurrency trading after a 280,000 signature petition was sent to the presidential Blue House.

&quot;The government&#39;s basic rule is to prevent any illegal acts or uncertainties regarding cryptocurrency trade, while eagerly nurturing blockchain technology,&quot; Hong Nam-ki, minister of the office for government policy co-ordination said in a statement.

The petition was made after the justice minister said in January that the government may shut down cryptocurrency exchanges. It demanded that the government never impose unreasonable regulation on virtual currency trading.

The government has to produce an official response within a month for a petition that gathers more than 200,000 signatures.

South Korea, which has become a cryptocurrency trading hub after a market frenzy that attracted even housewives and students, has already imposed some regulations on cryptocurrency trading.

It banned the use of anonymous bank accounts for virtual coin trading as of January 30, but said it does not intend to go as far as shutting down domestic exchanges.

&quot;But, the government is still divided with many opinions ranging from an outright ban on cryptocurrency trading to bringing the institutions that handle the currency into the system,&quot; Hong said, adding that the government will thoroughly review the industry within global norms.

South Korea will also develop ways to tax virtual currencies, led by the finance ministry, and should announce measures within the first half of the year to develop the blockchain industry, Hong added.

South Korea has banned the use of anonymous bank accounts for virtual coin trading as of January 30

South Korea said on Wednesday it will take firm action against illegal and unfair acts in cryptocurrency trading after a 280,000 signature petition was sent to the presidential Blue House. "The government's basic rule is to prevent any illegal acts or uncertainties regarding cryptocurrency trade, while eagerly nurturing blockchain technology," Hong Nam-ki, minister of the office for government policy co-ordination said in a statement. The petition was made after the justice minister said in January that the government may shut down cryptocurrency exchanges. It demanded that the government never impose unreasonable regulation on virtual currency trading. The government has to produce an official response within a month for a petition that gathers more than 200,000 signatures. South Korea, which has become a cryptocurrency trading hub after a market frenzy that attracted even housewives and students, has already imposed some regulations on cryptocurrency trading. It banned the use of anonymous bank accounts for virtual coin trading as of January 30, but said it does not intend to go as far as shutting down domestic exchanges. "But, the government is still divided with many opinions ranging from an outright ban on cryptocurrency trading to bringing the institutions that handle the currency into the system," Hong said, adding that the government will thoroughly review the industry within global norms. South Korea will also develop ways to tax virtual currencies, led by the finance ministry, and should announce measures within the first half of the year to develop the blockchain industry, Hong added.

South Korea vows to crack down on cryptocurrency trading

The Reserve Bank of India on Tuesday came out with a revised framework for expeditious resolution of bad loans, harmonising the existing guidelines with the norms specified in the Insolvency and Bankruptcy Code (IBC).

The new guidelines have specified framework for early identification and reporting of stressed assets.

&quot;In view of the enactment of the Insolvency and Bankruptcy Code (IBC), 2016, it has been decided to substitute the existing guidelines with a harmonised and simplified generic framework for resolution of stressed assets,&quot; the RBI said in a notification issued late in the evening.

Among other things, the RBI has decided to do away with the Joint Lenders&#39; Forum (JLF) as an institutional mechanism for resolution of stressed accounts also stands discontinued.

The notification further said all accounts, including those where any of the schemes have been invoked but not yet implemented, will be governed by the revised framework.

As per the revised guidelines, the banks will be required to identify incipient stress in loan accounts, immediately on default, by classifying stressed assets as special mention accounts (SMA) depending upon the period of default.

All lenders will be required to put in place Board- approved policies for resolution of stressed assets under this framework, including the timelines for resolution, it said, adding, &quot;As soon as there is a default in the borrower entity&#39;s account with any lender, all lenders - singly or jointly - shall initiate steps to cure the default.&quot;

The resolution plan (RP) may involve any actions/plans/ reorganisation including, but not limited to, regularisation of the account by payment of all over dues by the borrower entity, sale of the exposures to other entities / investors, change in ownership, or restructuring.

The revised framework has also laid down the timelines for resolution of stressed assets.

If a resolution plan in respect of large accounts is not implemented as per the timelines specified, lenders will be required to file insolvency application, singly or jointly, under the IBC, 2016, within 15 days from the expiry of the specified timeline.

It further said all lenders will be required to submit Central Repository of Information on Large Credits (CRILC)- Main Report to the Reserve Bank on a monthly basis effective April 1, 2018.

In addition, the lenders shall report to CRILC, all borrower entities in default (with aggregate exposure of Rs 5 crore and above), on a weekly basis, at the close of business on every Friday, or the preceding working day if Friday happens to be a holiday.

The first such weekly report shall be submitted for the week ending February 23, 2018, with a view to harmonise the guidelines with the norms specified in the IBC, said the notification while withdrawing existing mechanism for dealing with the bad debt in the banking system.

The new guidelines have specified framework for early identification and reporting of stressed assets.

The Reserve Bank of India on Tuesday came out with a revised framework for expeditious resolution of bad loans, harmonising the existing guidelines with the norms specified in the Insolvency and Bankruptcy Code (IBC)

The Reserve Bank of India on Tuesday came out with a revised framework for expeditious resolution of bad loans, harmonising the existing guidelines with the norms specified in the Insolvency and Bankruptcy Code (IBC). The new guidelines have specified framework for early identification and reporting of stressed assets. "In view of the enactment of the Insolvency and Bankruptcy Code (IBC), 2016, it has been decided to substitute the existing guidelines with a harmonised and simplified generic framework for resolution of stressed assets," the RBI said in a notification issued late in the evening. Among other things, the RBI has decided to do away with the Joint Lenders' Forum (JLF) as an institutional mechanism for resolution of stressed accounts also stands discontinued. The notification further said all accounts, including those where any of the schemes have been invoked but not yet implemented, will be governed by the revised framework. As per the revised guidelines, the banks will be required to identify incipient stress in loan accounts, immediately on default, by classifying stressed assets as special mention accounts (SMA) depending upon the period of default. All lenders will be required to put in place Board- approved policies for resolution of stressed assets under this framework, including the timelines for resolution, it said, adding, "As soon as there is a default in the borrower entity's account with any lender, all lenders - singly or jointly - shall initiate steps to cure the default." The resolution plan (RP) may involve any actions/plans/ reorganisation including, but not limited to, regularisation of the account by payment of all over dues by the borrower entity, sale of the exposures to other entities / investors, change in ownership, or restructuring. The revised framework has also laid down the timelines for resolution of stressed assets. If a resolution plan in respect of large accounts is not implemented as per the timelines specified, lenders will be required to file insolvency application, singly or jointly, under the IBC, 2016, within 15 days from the expiry of the specified timeline. It further said all lenders will be required to submit Central Repository of Information on Large Credits (CRILC)- Main Report to the Reserve Bank on a monthly basis effective April 1, 2018. In addition, the lenders shall report to CRILC, all borrower entities in default (with aggregate exposure of Rs 5 crore and above), on a weekly basis, at the close of business on every Friday, or the preceding working day if Friday happens to be a holiday. The first such weekly report shall be submitted for the week ending February 23, 2018, with a view to harmonise the guidelines with the norms specified in the IBC, said the notification while withdrawing existing mechanism for dealing with the bad debt in the banking system. The new guidelines have specified framework for early identification and reporting of stressed assets.

RBI notifies revised framework to deal with bad loans

Social networking service, Facebook is introducing a wireless networking app, Onavo Protect, to some of its mobile app users.&nbsp;

The new wireless networking app is designed to protect users with the virtual private network or VPN.

Facebook offers the security feature in a tab in its mobile app marked &quot;Protect&quot;

The feature makes the app more secure when it is working on a public Wi-fi.

Though the social media giant has not disclosed it to its users that it owns the wireless networking app, the users can find the information on Onavo website. They can even expand the &quot;description&quot; on the Apple App Store and read till the bottom to find out that the app is owned by Facebook.&nbsp;

The app keeps a track of the applications installed on the device, use of those applications, websites visited by a user and the amount of data used by the user.&nbsp;

It will enable Facebook to keep a track of the apps and other social media platforms even when the users are not using the Facebook app, helping the social media to keep a track on the apps made by rivals.

The app will enable Facebook to keep a track of the apps and other social media platforms even when the users are not using the Facebook app, helping the social media to keep a track on the apps made by rivals

Social networking service, Facebook is introducing a wireless networking app, Onavo Protect, to some of its mobile app users. The new wireless networking app is designed to protect users with the virtual private network or VPN. Facebook offers the security feature in a tab in its mobile app marked "Protect" The feature makes the app more secure when it is working on a public Wi-fi. Though the social media giant has not disclosed it to its users that it owns the wireless networking app, the users can find the information on Onavo website. They can even expand the "description" on the Apple App Store and read till the bottom to find out that the app is owned by Facebook. The app keeps a track of the applications installed on the device, use of those applications, websites visited by a user and the amount of data used by the user. It will enable Facebook to keep a track of the apps and other social media platforms even when the users are not using the Facebook app, helping the social media to keep a track on the apps made by rivals.

New Facebook app to secure users' data will also track their data usage

Tech giant Microsoft launched gaming console <a href="http://www.wionews.com/india-news/microsoft-may-launch-gaming-console-xbox-one-x-in-india-on-january-23-30393" target="_blank">Xbox One X</a> for Rs 44,990 in India.

It is the smallest and most feature-rich Xbox ever launched by the multinational company.

The console is designed for being immersive 4K gaming and 4K entertainment.

It will provide an access to most diverse games lineup including Forza Motorsport 7, Assassin&#39;s Creed: Origins, Cuphead and Super Lucky&#39;s Tale.

The gaming console&nbsp;is already launched in the international market and within months of its international launch, it is now set to enter the Indian markets.&nbsp;

Its competitor in the Indian market is Sony&#39;s PS4 Pro Console which supports up to 4.2 teraflops while the Xbox One X is designed to offer up to 6 teraflops.&nbsp;

The Microsoft Xbox One provides games for PC also whereas the Sony does not.

The console comes with some 100 odd games which would consume quite high volumes of the internet for downloading.&nbsp;

It will be available online on Microsoft India store, Amazon India and Flipkart.

The console is designed for being immersive 4K gaming and 4K entertainment

Tech giant Microsoft launched gaming console Xbox One X for Rs 44,990 in India. It is the smallest and most feature-rich Xbox ever launched by the multinational company. The console is designed for being immersive 4K gaming and 4K entertainment. It will provide an access to most diverse games lineup including Forza Motorsport 7, Assassin's Creed: Origins, Cuphead and Super Lucky's Tale. The gaming console is already launched in the international market and within months of its international launch, it is now set to enter the Indian markets. Its competitor in the Indian market is Sony's PS4 Pro Console which supports up to 4.2 teraflops while the Xbox One X is designed to offer up to 6 teraflops. The Microsoft Xbox One provides games for PC also whereas the Sony does not. The console comes with some 100 odd games which would consume quite high volumes of the internet for downloading. It will be available online on Microsoft India store, Amazon India and Flipkart.

Microsoft launches Xbox One X for Rs 44,990 in India

The benchmark BSE Sensex rose by 85 points to 36,247.02 in opening trade today on gains banking and pharma stocks.

Short-covering of bets, today being the last session of January expiry in the derivatives segment, kept the overall sentiment positive.

The 30-share index spurted by 85.38 points or 0.23 per cent at 36,247.02.

The gauge had gained 1,390.53 points in the previous six record-setting sessions and closed at an all-time high of 36,161.64 points after scaling a new peak of 36,268.19 in yesterday&#39;s session.

Metal, capital goods, oil and gas, Infrastructure, power and auto sector stocks were leading the rally, which lifted sentiments.

The NSE Nifty was also trading higher by 9.60 points, or 0.08 per cent, at 11,095.60.

Brokers said that the market mood remained buoyant, bolstered by continued capital inflows by foreign institutional investors (FIIs) and domestic investors.

According to provisional exchange data, FIIs put in a net Rs 776.4 crore in stocks yesterday.

In the Asian region, Hong Kong&#39;s Hang Seng was down 0.40 per cent, Japan&#39;s Nikkei shed 0.91 per cent while Shanghai Composite index fell by 0.34 per cent in early trade today.

The US Dow Jones Industrial Average ended at new high by rising 0.16 per cent in yesterday&#39;s trade. PTI&nbsp;

Short-covering of bets, today being the last session of January expiry in the derivatives segment, kept the overall sentiment positive

The benchmark BSE Sensex rose by 85 points to 36,247.02 in opening trade today on gains banking and pharma stocks. Short-covering of bets, today being the last session of January expiry in the derivatives segment, kept the overall sentiment positive. The 30-share index spurted by 85.38 points or 0.23 per cent at 36,247.02. The gauge had gained 1,390.53 points in the previous six record-setting sessions and closed at an all-time high of 36,161.64 points after scaling a new peak of 36,268.19 in yesterday's session. Metal, capital goods, oil and gas, Infrastructure, power and auto sector stocks were leading the rally, which lifted sentiments. The NSE Nifty was also trading higher by 9.60 points, or 0.08 per cent, at 11,095.60. Brokers said that the market mood remained buoyant, bolstered by continued capital inflows by foreign institutional investors (FIIs) and domestic investors. According to provisional exchange data, FIIs put in a net Rs 776.4 crore in stocks yesterday. In the Asian region, Hong Kong's Hang Seng was down 0.40 per cent, Japan's Nikkei shed 0.91 per cent while Shanghai Composite index fell by 0.34 per cent in early trade today. The US Dow Jones Industrial Average ended at new high by rising 0.16 per cent in yesterday's trade. PTI

Sensex builds on gains, up 85 points on fund inflows

India is working toward a five trillion dollar economy by 2025, Prime Minister Narendra Modi said on Tuesday at the plenary session of the World Economic Forum in Davos.

PM Modi also highlighted the reforms and policies his administration had undertaken to make India more open.

He said his government had abolished some 1,400 archaic laws and is heading towards making India the third-largest consumer market in the world by 2015.

&quot;India is removing the red tape and laying out the red carpet,&quot; said Mr Modi, the first Indian prime minister in two decades to attend the high-level forum.

&quot;Almost all areas of our economy have been opened to foreign direct investment,&quot; he said.&nbsp;

He sought to hard sell India as an investment destination, saying those wanting wealth with wellness and peace with prosperity should come to the country.

Prime Minister Narendra Modi, who arrived in the snowy town of Davos in Switzerland, addressed the plenary session of the 48th World Economic Forum (WEF) in Davos, Switzerland.&nbsp;

In a nearly-hour long speech delivered in Hindi, Modi showcased India&rsquo;s growth story to world leaders and called out for tackling the three major challenges the world faces currently &mdash; climate change, terrorism and threat to globalisation.

PM Narendra Modi said at the World Economic Forum in Davos that new doors are being opened by India for FDI

India is working toward a five trillion dollar economy by 2025, Prime Minister Narendra Modi said on Tuesday at the plenary session of the World Economic Forum in Davos. PM Modi also highlighted the reforms and policies his administration had undertaken to make India more open. He said his government had abolished some 1,400 archaic laws and is heading towards making India the third-largest consumer market in the world by 2015. "India is removing the red tape and laying out the red carpet," said Mr Modi, the first Indian prime minister in two decades to attend the high-level forum. "Almost all areas of our economy have been opened to foreign direct investment," he said. He sought to hard sell India as an investment destination, saying those wanting wealth with wellness and peace with prosperity should come to the country. Prime Minister Narendra Modi, who arrived in the snowy town of Davos in Switzerland, addressed the plenary session of the 48th World Economic Forum (WEF) in Davos, Switzerland. In a nearly-hour long speech delivered in Hindi, Modi showcased India’s growth story to world leaders and called out for tackling the three major challenges the world faces currently — climate change, terrorism and threat to globalisation.

India to become $5 trillion economy by 2025: PM Modi

Netflix Inc snagged 2 million more subscribers than Wall Street expected in the final three months of 2017, tripling profits at the online video service that is burning money on new programming to dominate internet television around the world.

The results drove Netflix to a market capitalisation of more than $100 billion for the first time. Shares jumped 9 percent to over $248 in after-hours trading on Monday after rallying throughout the month and rising 53 percent last year.&nbsp;

The company has signed up more than half of all U.S. broadband households and is building its customer base in 190 countries by spending billions on programming.

Netflix picked up 6.36 million subscribers in international markets from October through December, when it released new seasons of critically acclaimed shows &quot;Stranger Things&quot; and &quot;The Crown&quot; as well as Will Smith action movie &quot;Bright.&quot; That topped Wall Street expectations of 5.1 million, according to FactSet.

Along with 1.98 million customer additions in the United States, the company ended the year with 117.58 million streaming subscribers around the globe, despite a price hike in October.

&quot;Netflix is pouring more and more money into making content, and it is directly translating into more subscribers,&quot; BTIG analyst Richard Greenfield said. &quot;They see a huge opportunity and they are moving as fast as they can to attack it.&quot;

Also read:&nbsp;<a href="http://www.wionews.com/life-fun/recommended-10-indian-documentaries-on-netflix-that-you-must-watch-15467" target="_blank">10 Indian documentaries on Netflix that you must watch</a>

The company also said it took a $39 million non-cash charge for &quot;unreleased content we&rsquo;ve decided not to move forward with.&quot; A source familiar with the matter said the charge was related to content starring Kevin Spacey, with whom Netflix cut ties after he was accused of sexual misconduct.

Netflix temporarily halted production of &quot;House of Cards&quot; to write out Spacey&#39;s character and decided not to release the film &quot;Gore,&quot; which starred Spacey as Gore Vidal.

Spacey has apologised to one of his accusers, and according to his representatives is seeking unspecified treatment. Reuters was unable to independently confirm the accusations.

The charge is one of the first signs of costs faced by companies in the wake of a widespread campaign against sexual harassment.

Netflix turned a DVD-by-mail business into an online competitor of movie channel HBO. As it grew it began licensing its own original shows to ensure a stream of new offerings if studio suppliers ended deals.

In fact, Walt Disney Co is making a major push into online streaming and will pull its first-run shows and movies from Netflix in 2019 as Hollywood fights for audiences.

Netflix plans to spend up to $8 billion this year on TV shows and movies to fend off Disney, Amazon.com Inc, studios-owned Hulu and local competitors that are jumping into online video, and it is turning more and more to high-budget projects, such as the roughly $90 million &quot;Bright.&quot;

In 2017, Netflix recorded its first full-year profit in international markets. The company has said it is aiming for steady improvements in profitability overseas this year.

&quot;We believe our big investments in content are paying off,&quot; Netflix said in a quarterly letter to shareholders.

Netflix is raising its marketing budget faster than revenue is growing and will spend about $2 billion this year. The company expects negative cash flow in 2018 of $3 billion to $4 billion, up from $2 billion in 2017.

Last October, Netflix raised prices for two of its three main subscription plans to help fund the substantial content investment. The earnings report showed customers took it in stride.

&quot;Consumers are tolerant as long as something&#39;s improving,&quot; Netflix CEO Reed Hastings, on a post-earnings webcast, said of the price increase.

For the December quarter, Netflix reported diluted earnings-per-share of 41 cents, even with the expectations of analysts polled by Thomson Reuters I/B/E/S.

Revenue for the three months totalled $3.286 billion, in line with forecasts.

Looking ahead, Netflix forecast streaming customer additions of 6.35 million for the first quarter, above analysts&#39; expectation of 5.01 million, according to FactSet.

Investors appear confident in Netflix&#39;s ability to grow. Netflix recently traded at 91 times expected earnings for the next 12 months, versus Amazon at 152 times earnings and Disney at 17 times earnings, according to Thomson Reuters data.

Netflix also said Monday that Rodolphe Belmer, CEO of global satellite company Eutelsat, had joined the company&#39;s board.

Netflix shares jumped 9 per cent to over $248 in after-hours trading on Monday after rallying throughout the month and rising 53 per cent last year

Netflix Inc snagged 2 million more subscribers than Wall Street expected in the final three months of 2017, tripling profits at the online video service that is burning money on new programming to dominate internet television around the world. The results drove Netflix to a market capitalisation of more than $100 billion for the first time. Shares jumped 9 percent to over $248 in after-hours trading on Monday after rallying throughout the month and rising 53 percent last year. The company has signed up more than half of all U.S. broadband households and is building its customer base in 190 countries by spending billions on programming. Netflix picked up 6.36 million subscribers in international markets from October through December, when it released new seasons of critically acclaimed shows "Stranger Things" and "The Crown" as well as Will Smith action movie "Bright." That topped Wall Street expectations of 5.1 million, according to FactSet. Along with 1.98 million customer additions in the United States, the company ended the year with 117.58 million streaming subscribers around the globe, despite a price hike in October. "Netflix is pouring more and more money into making content, and it is directly translating into more subscribers," BTIG analyst Richard Greenfield said. "They see a huge opportunity and they are moving as fast as they can to attack it." Also read: 10 Indian documentaries on Netflix that you must watch The company also said it took a $39 million non-cash charge for "unreleased content we’ve decided not to move forward with." A source familiar with the matter said the charge was related to content starring Kevin Spacey, with whom Netflix cut ties after he was accused of sexual misconduct. Netflix temporarily halted production of "House of Cards" to write out Spacey's character and decided not to release the film "Gore," which starred Spacey as Gore Vidal. Spacey has apologised to one of his accusers, and according to his representatives is seeking unspecified treatment. Reuters was unable to independently confirm the accusations. The charge is one of the first signs of costs faced by companies in the wake of a widespread campaign against sexual harassment. Netflix turned a DVD-by-mail business into an online competitor of movie channel HBO. As it grew it began licensing its own original shows to ensure a stream of new offerings if studio suppliers ended deals. In fact, Walt Disney Co is making a major push into online streaming and will pull its first-run shows and movies from Netflix in 2019 as Hollywood fights for audiences. Netflix plans to spend up to $8 billion this year on TV shows and movies to fend off Disney, Amazon.com Inc, studios-owned Hulu and local competitors that are jumping into online video, and it is turning more and more to high-budget projects, such as the roughly $90 million "Bright." In 2017, Netflix recorded its first full-year profit in international markets. The company has said it is aiming for steady improvements in profitability overseas this year. "We believe our big investments in content are paying off," Netflix said in a quarterly letter to shareholders. Netflix is raising its marketing budget faster than revenue is growing and will spend about $2 billion this year. The company expects negative cash flow in 2018 of $3 billion to $4 billion, up from $2 billion in 2017. Last October, Netflix raised prices for two of its three main subscription plans to help fund the substantial content investment. The earnings report showed customers took it in stride. "Consumers are tolerant as long as something's improving," Netflix CEO Reed Hastings, on a post-earnings webcast, said of the price increase. For the December quarter, Netflix reported diluted earnings-per-share of 41 cents, even with the expectations of analysts polled by Thomson Reuters I/B/E/S. Revenue for the three months totalled $3.286 billion, in line with forecasts. Looking ahead, Netflix forecast streaming customer additions of 6.35 million for the first quarter, above analysts' expectation of 5.01 million, according to FactSet. Investors appear confident in Netflix's ability to grow. Netflix recently traded at 91 times expected earnings for the next 12 months, versus Amazon at 152 times earnings and Disney at 17 times earnings, according to Thomson Reuters data. Netflix also said Monday that Rodolphe Belmer, CEO of global satellite company Eutelsat, had joined the company's board.

Netflix crosses $100 billion market capitalisation as subscribers surge

The benchmark Sensex drew back from its initial record highs to turn range bound in late morning deals, up by 112.27 points or 0.32 per cent on buying in energy, capital goods, realty IT and auto sectors.

Caution crept in ahead of the quarterly result to be released later which include key names like Axis Bank and Asian Paints.

Profit-booking was witnessed in telecom, metal, utilities and power segments which restricted the index gains.

However, sustained foreign funds inflows, better than expected quarterly result in index heavyweight Reliance Industries sustaining the stock momentum.

The benchmark BSE Sensex trading higher 112.27 points or 0.32 per cent to trade at 35,623.85 at 1140 hrs. Earlier it marked fresh all-time peak at 35,700.72.

The broader Nifty trading above the key 10,900 level at 10,905.40, up by 10.70 points or 0.10 per cent. It marked all time fresh peak at 10,929.85 earlier in the session.

Major gainers were ONGC 4.03 per cent, Reliance 2.44 per cent, TCS 1.58 per cent, Yes Bank 1.41 per cent and HDFC Bank 1.29 per cent.

Losers include Asian Paint 2.29 per cent, Bharti Airtel 1.66 per cent and ICICI 1.40 per cent.

Foreign portfolio investors (FPIs) bought shares worth Rs 988.25 crore on net basis while domestic institutional investors (DIIs) also bought equities to the tune of Rs 209.86 crore last Friday, provisional data showed.

Most Asian markets were trading higher as investors kept an eye on political developments in the US after a government shutdown began last week.

US stocks finished higher on last Friday, with both the S&amp;P 500 and the Nasdaq ending at records as optimism over corporate earnings outweighed the US government shutdown. 
-- Rupee trades down 4 paise vs US dollar --

The rupee was trading lower by 4 paise at 63.88 against the US dollar on some dollar demand by importers and banks amid recovering greenback overseas.

The rupee opened lower at 63.88 per dollar as against last Friday&#39;s closing level of 63.84 at the inter-bank foreign exchange here.

Later it fell further to 64.00 on persistent dollar demand in morning trade, it was quoting at 63.88 per dollar at 1145 hrs.

The US dollar regained some footing against a basket of currencies in early Asian trade, after slipping earlier on a US government shutdown.&nbsp;

The benchmark Sensex drew back from its initial record highs to turn range bound in late morning deals, up by 112.27 points or 0.32 per cent on buying in energy, capital goods, realty IT and auto sectors. Caution crept in ahead of the quarterly result to be released later which include key names like Axis Bank and Asian Paints. Profit-booking was witnessed in telecom, metal, utilities and power segments which restricted the index gains. However, sustained foreign funds inflows, better than expected quarterly result in index heavyweight Reliance Industries sustaining the stock momentum. The benchmark BSE Sensex trading higher 112.27 points or 0.32 per cent to trade at 35,623.85 at 1140 hrs. Earlier it marked fresh all-time peak at 35,700.72. The broader Nifty trading above the key 10,900 level at 10,905.40, up by 10.70 points or 0.10 per cent. It marked all time fresh peak at 10,929.85 earlier in the session. Major gainers were ONGC 4.03 per cent, Reliance 2.44 per cent, TCS 1.58 per cent, Yes Bank 1.41 per cent and HDFC Bank 1.29 per cent. Losers include Asian Paint 2.29 per cent, Bharti Airtel 1.66 per cent and ICICI 1.40 per cent. Foreign portfolio investors (FPIs) bought shares worth Rs 988.25 crore on net basis while domestic institutional investors (DIIs) also bought equities to the tune of Rs 209.86 crore last Friday, provisional data showed. Most Asian markets were trading higher as investors kept an eye on political developments in the US after a government shutdown began last week. US stocks finished higher on last Friday, with both the S&P 500 and the Nasdaq ending at records as optimism over corporate earnings outweighed the US government shutdown. -- Rupee trades down 4 paise vs US dollar -- The rupee was trading lower by 4 paise at 63.88 against the US dollar on some dollar demand by importers and banks amid recovering greenback overseas. The rupee opened lower at 63.88 per dollar as against last Friday's closing level of 63.84 at the inter-bank foreign exchange here. Later it fell further to 64.00 on persistent dollar demand in morning trade, it was quoting at 63.88 per dollar at 1145 hrs. The US dollar regained some footing against a basket of currencies in early Asian trade, after slipping earlier on a US government shutdown.

Sensex marks new high, Nifty above 10,900

Halting two months of decline, the GST collections gathered momentum in December, rising to Rs 86,703 crore.

&quot;Total revenue collections under GST for the month of December 2017 (received in December 2017/January up to January 24, 2018) has been Rs 86,703 crore till January 24, 2018,&quot; the finance ministry said in a statement.

Total collections under the Goods and Services Tax (GST) in November had slipped for the second straight month to Rs 80,808 crore, from over Rs 83,000 crore in October. In September, it was over Rs 92,150 crore.

The collections had declined in November after the GST Council cut rates on more than 200 items.

According to PwC leader Pratik Jain, increase in revenue collection is on the expected lines and it means that gradually GST is stabilising and transition issues are waning.

This, coupled with a few anti-evasion measures being taken by the government now, is likely to result in further increase of revenues in January to March 2018 quarter, he said.

The rollout of e-way bill on transport of goods having value exceeding Rs 50,000 from one state to another on PAN India basis from February 1, 2018 will further curb tax evasion and revenue will rise in upcoming months, Vishal Raheja, DGM, Taxmann, said.

The ministry further said that 1 crore taxpayers have been registered under GST till January 24, of which 17.11 lakh are composition dealers who are required to file returns every quarter.

As many as 56.30 lakh GSTR 3B returns have been filed for December, it said.

For the composition dealers, in the July-September quarter, the last date of filing GSTR 4 Returns was December 24, it said. A total of 8.10 lakh returns were filed by them amounting to Rs 335.86 crore.

For the October-December quarter, the last date for filing GSTR 4 returns was January 18, and a total of 9.25 lakh returns were filed by composition dealers paying a sum of Rs 421.35 crore, it added.

The collections had declined in November after the GST Council cut rates on more than 200 items

Halting two months of decline, the GST collections gathered momentum in December, rising to Rs 86,703 crore. "Total revenue collections under GST for the month of December 2017 (received in December 2017/January up to January 24, 2018) has been Rs 86,703 crore till January 24, 2018," the finance ministry said in a statement. Total collections under the Goods and Services Tax (GST) in November had slipped for the second straight month to Rs 80,808 crore, from over Rs 83,000 crore in October. In September, it was over Rs 92,150 crore. The collections had declined in November after the GST Council cut rates on more than 200 items. According to PwC leader Pratik Jain, increase in revenue collection is on the expected lines and it means that gradually GST is stabilising and transition issues are waning. This, coupled with a few anti-evasion measures being taken by the government now, is likely to result in further increase of revenues in January to March 2018 quarter, he said. The rollout of e-way bill on transport of goods having value exceeding Rs 50,000 from one state to another on PAN India basis from February 1, 2018 will further curb tax evasion and revenue will rise in upcoming months, Vishal Raheja, DGM, Taxmann, said. The ministry further said that 1 crore taxpayers have been registered under GST till January 24, of which 17.11 lakh are composition dealers who are required to file returns every quarter. As many as 56.30 lakh GSTR 3B returns have been filed for December, it said. For the composition dealers, in the July-September quarter, the last date of filing GSTR 4 Returns was December 24, it said. A total of 8.10 lakh returns were filed by them amounting to Rs 335.86 crore. For the October-December quarter, the last date for filing GSTR 4 returns was January 18, and a total of 9.25 lakh returns were filed by composition dealers paying a sum of Rs 421.35 crore, it added.

Budget 2018: GST collections reverse trend; rise to Rs 86,703 cr in December

PM Modi will be participating in the World Economic Forum at Davos, Switzerland on January 23, the last time an Indian PM showed up at the high table of economic greats was H.D. Deve Gowda in 1997.

The Davos forum will be attended by at least 350 leaders from around the world, including 60 heads of state.

The Davos meeting&nbsp;clearly hasn&#39;t&nbsp;captured the imagination of India&#39;s top men in the past.&nbsp;PM Modi has decided to seize the moment this time as &quot;India&#39;s representative&quot;.

Modi&#39;s agenda will involve networking with the world&#39;s best, including meeting Trump&#39;s business team.&nbsp;

Modi won&#39;t be turning up at Davos alone, he will be accompanied by a host of top ministers, including finance minister Arun Jaitley, Railway minister Suresh Prabhu, Commerce &amp; Industry minister Piyush Goyal, Petroleum minister Dharmendra Pradhan among others.

Modi&#39;s ministers are set to represent India in 25 sessions at Davos where they will share the PM&#39;s vision of transforming the country into a &quot;new India&quot; by 2022.

India&#39;s Chamber of Commerce and Industry(CII) will also chip in with roundtables with potential investors.

President Trump would be in Davos to promote&nbsp;&quot;America First&quot; as informed by the White House, Modi&#39;s pitch is expected to be similar. India needs more investment in virtually every sector, a fact pointed out by the World Bank.

India&#39;s pitch at Davos is likely to mirror Modi&#39;s campaign in the next 14 months in the run-up&nbsp;to the general elections in 2019. Post-demonisation, India&#39;s GDP has fallen and GST hasn&#39;t really taken off but the &quot;India story&quot; has resonated worldwide because of India&#39;s perceived stability and strong fundamentals, however, the road ahead could be rocky if India fails to get its act together, especially PM Modi.

It is time India moved away from merely being tagged as a &quot;potential&quot; growth engine considering the fact that next-door neighbour&nbsp;China is ready to replace the US in the growth story sweepstakes.

PM Modi will have to push ahead with his &quot;New India 2022&quot;&nbsp;vision soon, a delay could&nbsp;prove disastrous with elections around the corner.

The Modi government&#39;s four-year report card has been poor on generating growth, the only sweet spot being stability and continuity in economic growth but the government has mainly played it safe, avoiding&nbsp;big bang reforms.

Experts would be looking very closely at Modi in&nbsp;Davos, his meeting with Trump might get the eyeballs but the real battle would be behind the scenes, in closed-door meetings aimed at boosting investment in India.

The window of opportunity is rather small for the current government, India@2018 stands at&nbsp;crossroads, Modi&#39;s definition&nbsp;of India in the next 1 year could make-or-break India&#39;s economy.&nbsp;

&nbsp;

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL).

&nbsp;

 
&nbsp;

Modi's ministers are set to represent India in 25 sessions at Davos where they will share the PM's vision of transforming the country into a "new India" by 2022.

PM Modi will be participating in the World Economic Forum at Davos, Switzerland on January 23, the last time an Indian PM showed up at the high table of economic greats was H.D. Deve Gowda in 1997. The Davos forum will be attended by at least 350 leaders from around the world, including 60 heads of state. The Davos meeting clearly hasn't captured the imagination of India's top men in the past. PM Modi has decided to seize the moment this time as "India's representative". Modi's agenda will involve networking with the world's best, including meeting Trump's business team. Modi won't be turning up at Davos alone, he will be accompanied by a host of top ministers, including finance minister Arun Jaitley, Railway minister Suresh Prabhu, Commerce & Industry minister Piyush Goyal, Petroleum minister Dharmendra Pradhan among others. Modi's ministers are set to represent India in 25 sessions at Davos where they will share the PM's vision of transforming the country into a "new India" by 2022. India's Chamber of Commerce and Industry(CII) will also chip in with roundtables with potential investors. President Trump would be in Davos to promote "America First" as informed by the White House, Modi's pitch is expected to be similar. India needs more investment in virtually every sector, a fact pointed out by the World Bank. India's pitch at Davos is likely to mirror Modi's campaign in the next 14 months in the run-up to the general elections in 2019. Post-demonisation, India's GDP has fallen and GST hasn't really taken off but the "India story" has resonated worldwide because of India's perceived stability and strong fundamentals, however, the road ahead could be rocky if India fails to get its act together, especially PM Modi. It is time India moved away from merely being tagged as a "potential" growth engine considering the fact that next-door neighbour China is ready to replace the US in the growth story sweepstakes. PM Modi will have to push ahead with his "New India 2022" vision soon, a delay could prove disastrous with elections around the corner. The Modi government's four-year report card has been poor on generating growth, the only sweet spot being stability and continuity in economic growth but the government has mainly played it safe, avoiding big bang reforms. Experts would be looking very closely at Modi in Davos, his meeting with Trump might get the eyeballs but the real battle would be behind the scenes, in closed-door meetings aimed at boosting investment in India. The window of opportunity is rather small for the current government, India@2018 stands at crossroads, Modi's definition of India in the next 1 year could make-or-break India's economy. (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL).

Opinion: Modi is the first PM in 20 years to visit World Economic Forum

Now, Instagram users will be able to search GIFS and add them as stickers to their &#39;Insta Stories&#39;

The social media platform has rolled out a new feature wherein users will also get a GIF option when they try to add stickers to their Instagram &#39;stories&#39;.&nbsp;

The Facebook-owned app will also let users upload videos and pictures irrespective of their size. Instagram will provide gifs powered by GIPHY.&nbsp;

The GIF feature will be available on Instagram version 29 for iOS and Android devices.

 
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The Facebook-owned app will also let users upload videos and pictures irrespective of their size

Now, Instagram users will be able to search GIFS and add them as stickers to their 'Insta Stories' The social media platform has rolled out a new feature wherein users will also get a GIF option when they try to add stickers to their Instagram 'stories'. The Facebook-owned app will also let users upload videos and pictures irrespective of their size. Instagram will provide gifs powered by GIPHY. The GIF feature will be available on Instagram version 29 for iOS and Android devices.

Instagram rolls out GIF option for 'Insta Stories'

Apple may discontinue its <a href="http://www.wionews.com/photos/the-big-apple-event-457#photo-25171">first-generation </a>&nbsp;<a href="http://www.wionews.com/photos/the-big-apple-event-457#photo-25171">iPhone</a><a href="http://www.wionews.com/photos/the-big-apple-event-457#photo-25171"> X</a> later this year.

The second generation Apple device is slated for a release this year.&nbsp;

Although <a href="http://www.wionews.com/world/google-releases-list-of-top-searches-in-2017-hurricane-irma-iphone-x-feature-on-top-26657">iPhone X was one of the most searched items on Google the past year</a> -- according to trends data released by Google -- the device did not manage to garner the expected response from the consumers.&nbsp;

<iframe allow="autoplay; encrypted-media" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/DBQkgb3SxeI" width="560"></iframe>

Experts believe that selling iPhone X at a lower price is not an option that the company is willing to explore as it will end up hurting its other products in the same segment.

The device may go off-shelves from mid-2018 owing to a weakened demand.&nbsp;

The device may go off-shelves from mid-2018 owing to a weakened demand

Apple may discontinue its first-generation iPhone X later this year. The second generation Apple device is slated for a release this year. Although iPhone X was one of the most searched items on Google the past year -- according to trends data released by Google -- the device did not manage to garner the expected response from the consumers. Experts believe that selling iPhone X at a lower price is not an option that the company is willing to explore as it will end up hurting its other products in the same segment. The device may go off-shelves from mid-2018 owing to a weakened demand.

Apple may discontinue iPhone X owing to weakened demand

India will overtake China to be the fastest growing large economy in 2018 and the country&#39;s equity market will become the fifth largest in the world, says a report.

According to a Sanctum Wealth Management report, when the rest of the world offers low growth and insufficient structural change, India, by contrast, is seen as a reforming economy with the prospect of strong long-term growth.

&quot;India will become the fastest growing large economy in the world, eclipsing China. Indian equity market will jump to become the fifth largest in the world,&quot; the report noted.

At a time when developed economies are cheering 2-3 per cent growth, India is focused on breaching 7.5 per cent, it said.

Moreover, India also benefits from a favourable contrast to other emerging markets. In particular, the fact that China is downshifting to a slower pace of growth.

&quot;Prospective returns for equities are much higher than the 6-8 per cent that one can expect from fixed income,&quot; it noted.

However, if inflation or rates rise, markets are not likely to register further gains.

Muted earning could also impact market performance.

&quot;Considering the fact that Nifty50 is in a broader uptrend, a sustained move beyond the 10,490-10,580 levels could lead to a rally towards 11,200-11,500 levels in the medium term,&quot; it noted.

As per the report, a major factor that has changed is that the domestic buyer now sets market prices. Domestic mutual funds bought equities worth $15.3 billion against $8 billion by foreign investors in 2017.

The report that identifies various big-picture trends at play this year in the domestic and global economy, noted that Aadhaar, Jan Dhan, demonetisation, GST, are working to create a new inclusive infrastructure in India.

&quot;Given the rapid pace at which the Indian economy is developing, investors today are faced with the need to make crucial investment decisions amidst multiple cross-currents, using a complex array of choices,&quot; Sanctum Wealth Management Chief Executive Officer Shiv Gupta said.

At a time when developed economies are cheering 2-3 per cent growth, India is focused on breaching 7.5 per cent, it said

India will overtake China to be the fastest growing large economy in 2018 and the country's equity market will become the fifth largest in the world, says a report. According to a Sanctum Wealth Management report, when the rest of the world offers low growth and insufficient structural change, India, by contrast, is seen as a reforming economy with the prospect of strong long-term growth. "India will become the fastest growing large economy in the world, eclipsing China. Indian equity market will jump to become the fifth largest in the world," the report noted. At a time when developed economies are cheering 2-3 per cent growth, India is focused on breaching 7.5 per cent, it said. Moreover, India also benefits from a favourable contrast to other emerging markets. In particular, the fact that China is downshifting to a slower pace of growth. "Prospective returns for equities are much higher than the 6-8 per cent that one can expect from fixed income," it noted. However, if inflation or rates rise, markets are not likely to register further gains. Muted earning could also impact market performance. "Considering the fact that Nifty50 is in a broader uptrend, a sustained move beyond the 10,490-10,580 levels could lead to a rally towards 11,200-11,500 levels in the medium term," it noted. As per the report, a major factor that has changed is that the domestic buyer now sets market prices. Domestic mutual funds bought equities worth $15.3 billion against $8 billion by foreign investors in 2017. The report that identifies various big-picture trends at play this year in the domestic and global economy, noted that Aadhaar, Jan Dhan, demonetisation, GST, are working to create a new inclusive infrastructure in India. "Given the rapid pace at which the Indian economy is developing, investors today are faced with the need to make crucial investment decisions amidst multiple cross-currents, using a complex array of choices," Sanctum Wealth Management Chief Executive Officer Shiv Gupta said.

India to overtake China as fastest growing large economy in 2018: Report

Germany&#39;s KBA automotive watchdog has detected illicit emission-control software in Audi&#39;s latest Euro-6 diesel models and has ordered a recall of 127,000 vehicles, Bild am Sonntag reported.

Audi, a unit of Volkswagen, said in a statement that the models had been included in a voluntary recall of 850,000 diesel vehicles with V6 and V8 TDI engines announced in July.

&quot;The engine control software for the vehicles in question will be completely revised, tested and submitted to the KBA for approval&quot;, Audi said in its statement.

It did not confirm more details of KBA&#39;s request.

Bild am Sonntag said road transport authority KBA had told Audi to respond by Feb. 2 on how it plans to update vehicle software controlling emissions, making sure the cars are unable to illegally manipulate emission controls.

Audi said it has been examining its diesel-fuelled cars for potential irregularities for months in close cooperation with the KBA.

&quot;As part of this systematic and detailed assessment, the KBA has now also issued a notice regarding Audi models with V6 TDI engines,&quot; the carmaker added.

In November, Audi announced a recall of 5,000 cars in Europe for a software fix after discovering they emitted too much nitrogen oxide, the polluting gas that parent Volkswagen concealed from US regulators in its devastating 2015 &quot;dieselgate&quot; scandal.

Volkswagen was found in 2015 to have illegally manipulated engine software so that vehicles would meet nitrogen oxide (NOx) emissions standards in laboratory testing but not in real-world conditions, where they could emit up to 40 times the permitted levels.

Several Audi models were affected and Audi has been accused in media reports of having devised the so-called defeat devices years earlier but not to have installed them in its vehicles at that time. Audi and Volkswagen have never commented on the matter.

Germany's KBA automotive watchdog has detected illicit emission-control software in Audi's latest Euro-6 diesel models and has ordered a recall of 127,000 vehicles

Germany's KBA automotive watchdog has detected illicit emission-control software in Audi's latest Euro-6 diesel models and has ordered a recall of 127,000 vehicles, Bild am Sonntag reported. Audi, a unit of Volkswagen, said in a statement that the models had been included in a voluntary recall of 850,000 diesel vehicles with V6 and V8 TDI engines announced in July. "The engine control software for the vehicles in question will be completely revised, tested and submitted to the KBA for approval", Audi said in its statement. It did not confirm more details of KBA's request. Bild am Sonntag said road transport authority KBA had told Audi to respond by Feb. 2 on how it plans to update vehicle software controlling emissions, making sure the cars are unable to illegally manipulate emission controls. Audi said it has been examining its diesel-fuelled cars for potential irregularities for months in close cooperation with the KBA. "As part of this systematic and detailed assessment, the KBA has now also issued a notice regarding Audi models with V6 TDI engines," the carmaker added. In November, Audi announced a recall of 5,000 cars in Europe for a software fix after discovering they emitted too much nitrogen oxide, the polluting gas that parent Volkswagen concealed from US regulators in its devastating 2015 "dieselgate" scandal. Volkswagen was found in 2015 to have illegally manipulated engine software so that vehicles would meet nitrogen oxide (NOx) emissions standards in laboratory testing but not in real-world conditions, where they could emit up to 40 times the permitted levels. Several Audi models were affected and Audi has been accused in media reports of having devised the so-called defeat devices years earlier but not to have installed them in its vehicles at that time. Audi and Volkswagen have never commented on the matter.

Audi ordered to recall 127,000 vehicles over emissions - Paper

The Government of India&nbsp;has entered into an agreement with Oil and Natural Corporation (ONGC) for sale of its 51.11 per cent&nbsp;equity shareholding in Hindustan Petroleum&nbsp;Corporation Limited.&nbsp;

After the agreement, ONGC will get hold of the government&#39;s 51.11 per cent stake in refiner and marketer HPCL for Rs 36,915 crore.&nbsp;

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Government of India has entered into an agreement with ONGC today for strategic sale of its 51.11% equity share-holding in HPCL at a consideration of Rs. 36,915 crores : Ministry of Finance.
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/954680362499633154?ref_src=twsrc%5Etfw">January 20, 2018</a></blockquote>
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The agreement will help the government meet half its disinvestment target through a single share sale.&nbsp;

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ONGC will get hold of the government's 51.11 per cent stake in refiner and marketer HPCL for Rs 36,915 crore

The Government of India has entered into an agreement with Oil and Natural Corporation (ONGC) for sale of its 51.11 per cent equity shareholding in Hindustan Petroleum Corporation Limited. After the agreement, ONGC will get hold of the government's 51.11 per cent stake in refiner and marketer HPCL for Rs 36,915 crore. Government of India has entered into an agreement with ONGC today for strategic sale of its 51.11% equity share-holding in HPCL at a consideration of Rs. 36,915 crores : Ministry of Finance. — ANI (@ANI) January 20, 2018 × The agreement will help the government meet half its disinvestment target through a single share sale.

ONGC to acquire govt's 51.11% in Hindustan Petroleum Corp for 36,915 crore