Mumbai: Domestic equity benchmark BSE Sensex dropped over 250 points in early trade on Thursday dragged by heavy selling in banking stocks ahead of the expiry of August derivatives amid weak cues from other Asian markets.

After hitting a low of 37,191.79, the 30-share index was trading 215.51 points, or 0.58 per cent, lower at 37,236.33 at 0930 hours, while the broader Nifty fell 58.90 points, or 0.53 per cent, to 10,987.20 in early trade.

Mumbai: Most brokerages have cut Nifty earnings by over 5 per cent, with many Nifty companies’ earnings per share (EPS) being downgraded.

“Earnings growth story that was expected to pick up meaningfully this year is getting derailed. We have lowered the Nifty’s earnings by about 5 per cent due to overall slowdown in the economy, post-June 2019 corporate earnings and expectation of a weak second quarter.

Global rating agency Moody’s Investors Service has downgraded private lender Yes Bank’s ratings to junk status with a negative outlook, citing the lower-than- expected capital raised from the recent QIP issue and the plunging share prices that will be a hurdle in raising more funds.

Islamabad: Pakistan Foreign Minister Shah Mehmood Qureshi has made it clear that no decision has yet been taken to close the country's airspace to India, Dawn news reported.

Talking to reporters during a visit to the National Database and Registration Authority (Nadra) on Wednesday, he dismissed as "speculative" all reports on the issue.

NEW DELHI : Trai issues draft of broadcasting and cable services interconnection regulations amendment

The Telecom Regulatory Authority of India on Wednesday released a draft of broadcasting and cable services interconnection regulations amendment.

The story at Wipro Ltd in recent years has been a series of false starts. Even as revenue growth for its larger peers, Tata Consultancy Services Ltd (TCS) and Infosys Ltd, accelerated, Wipro lagged. But one metric where the company is scoring is cash conversion.

India is set to impose a nationwide ban on plastic bags, cups and straws on October 2, officials said, in its most sweeping measure yet to stamp out single-use plastics from cities and villages that rank among the world's most polluted.

With an aim to defy the future dependency on China with regard to procurement of lithium, Indian Oil Corporation (IOCL) is all set to announce an alumina-based battery, which will be used for running the electric vehicles.

The company executives said that a foreign company has been roped as a partner for development and research of the technology, and will introduce it in the market once all the regulatory and other approvals are in place.

If you thought acquiring a residential or commercial property through an e-auction by a PSU bank is safe, you are probably wrong. A Pune-based businessman learnt this, thanks to his proactive approach in doing a due diligence on the property and not taking the PSU bank's disclosures on face value.

Mobile phone services which were snapped across Jammu and Kashmir since August 5 have been resumed in five districts of Jammu region. The services have been resumed in Doda, Kishtwar, Ramban, Rajouri and Poonch.

Communication channels were suspended in J&K in wake of the revocation of Article 370.

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