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Business highlights

·3-min read

New Delhi, Jun 13 (PTI) Following are the top business stories at 1815 hrs: DEL21 BIZ-PRADHAN-PETROL-PRICE Pradhan says Cong-ruled states should cut tax on petrol, diesel; mum on high taxes in BJP-ruled states New Delhi: With petrol and diesel prices climbing to record high, Oil Minister Dharmendra Pradhan on Sunday asked Congress governments in Rajasthan and Maharashtra to cut sales tax if the party was concerned about fuel price burden on common man, but did not say if BJP-ruled states like Madhya Pradesh and Karnataka, where petrol has crossed Rs 100 mark, would do the same DCM15 BIZ-SUBBARAO-ECONOMY Sharpening income inequalities telling story of 'uneven' economic recovery amid pandemic: Ex-RBI Guv Subbarao New Delhi: Former RBI Governor D Subbarao has expressed concerns over 'extreme unevenness' in economic recovery and 'sharpening inequalities' between upper income segments and lower income households in the country, cautioning that the trend will hit growth prospects going forward.

DCM25 BIZ-DHFL-SHARES Exchanges to suspend trading in DHFL shares from Monday New Delhi: Leading exchanges BSE and NSE will suspend trading in the shares of Dewan Housing Finance Corporation Ltd (DHFL) with effect from Monday.

DCM19 BIZ-MAX LIFE-AXIS Axis Bank stake in Max Life likely to rise to 20 pc in 12-18 months New Delhi: In line with the proposed deal, Axis Bank is likely to raise its stake in Max Life Insurance to about 20 per cent over the next 12-18 months, said the insurance company's CEO Prashant Tripathy said.

DCM29 BIZ-LUPIN-WARNINGLETTER Lupin gets warning letter from USFDA for Somerset facility New Delhi: Drug firm Lupin on Sunday said it has received a warning letter from the US health regulator for its Somerset facility in the US.

DCM14 BIZ-SUN PHARMA No plans to get into vaccine production as it requires separate manufacturing infra: Sun Pharma New Delhi: Sun Pharma has no immediate plans to enter into vaccine production as getting into the vertical would require an altogether different manufacturing set-up, as per a top company official.

DCM3 BIZ-DISCOMS-DUES Discoms' outstanding dues to gencos fall 11.2 pc to Rs 81,628 cr in April New Delhi: Total outstanding dues owed by electricity distribution utilities or discoms to power producers fell 11.2 per cent to Rs 81,628 crore in April 2021 from a year ago.

DCM30 BIZ-RUCHISOYA-FPO Baba Ramdev's Ruchi Soya files FPO document to raise up to Rs 4,300 cr New Delhi: Edible oil firm Ruchi Soya, which is owned by Baba Ramdev-led Patanjali Ayurveda, has filed draft document with SEBI to launch a follow-on public offer (FPO) for raising up to Rs 4,300 crore.

DCM1 BIZ-STOCKS-MCAP Five of top-10 valued firms add more than Rs 1 lakh cr in mcap; TCS, Infosys lead gainers New Delhi, Jun 13 (PTI) Five of the 10 most valued companies together added Rs 1,01,389.44 crore in market valuation last week, with IT majors Tata Consultancy Services and Infosys grabbing the limelight.

DCM7 BIZ-WTO-FISHERIES-SUBSIDIES WTO convenes key meeting of trade ministers on July 15 on fisheries subsidies New Delhi, Jun 13 (PTI) The chief of the World Trade Organization (WTO) has convened a meeting of all trade ministers on July 15 to iron out differences with regard to providing fisheries subsidies, sources said. PTI HRS MR HRS hrs

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