Business

India's economy grew 5.8% in March quarter, its slowest pace in more than four year, falling behind China's pace for the first time in nearly two years.

After cracking nearly 400 points during the day, the BSE gauge settled 289.29 points, or 0.73 per cent, lower at 39,452.07. The index hit an intra-day low of 39,363.45 and a high of 39,799.90.

The Total SA- Adani Gas deal is expected to trigger an open offer to public shareholders of Adani Gas, and Total may end up having an equal stake in the company as billionaire Gautam Adani.

The S&P BSE Sensex was down 169.35 points, or 0.43%, to 39,587.46 at 1:30pm, while the Nifty 50 index fell 50 points, or 0.42%, to 11,856.20.

A criminal writ petition was filed in the Supreme Court on Monday alleging that Rs 98,000 crore had been siphoned out of the company by senior officials.

The UBS raised FY20 credit cost estimate for Yes Bank to 250 basis points from 200 basis points earlier, higher than the management guidance of 125 bps.

During 2008-09, a total of 4,372 cases were reported involving an amount of Rs 1,860.09 crore. In 2009-10, Rs 1,998.94 crore worth fraud was reported in 4,669 cases.

India's GDP data has been under scrutiny after the NDA government brought about a few changes in the calculation of GDP growth.

The selling of the American currency by exporters, positive opening in domestic equities and foreign fund inflows supported the rupee.

The national carrier had stopped operating the additional flight after the April 21 Easter Sunday terror attack in Sri Lanka that targeted churches and luxury hotels, killing total 258 people and injuring 500 others.

Commerce and Industry Minister Piyush Goyal said that Digital India, Start up India, Aadhaar are some of the major initiatives in the country that promote economic inclusivity, using digital platforms.

Passenger traffic growth turned negative in April in the wake of the crisis at full-service carrier Jet Airways, which subsequently suspended operations due to cash crunch.

To ensure adequate liquidity to meet the repayments, Dewan Housing Finance Ltd (DHFL) sold its strategic retail assets including Aadhar, Avanse and DHFL Pramerica Asset Managers.

GAIL had sought to raise the tariff to Rs 97.04 per mBtu in HVJ, citing a capex spending of Rs 24,708 crore, over the economic life of the pipeline lasting till 2035.

To boost the sagging economy, the RBI on Thursday lowered its benchmark lending rate to a nearly nine-year low of 5.75 per cent and changed its monetary policy stance to accommodative, leaving space for future rate cuts.

Zomato has also announced an endowment of around Rs 69,000 to the employees on its rolls who become new parents.