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SC verdict on electoral bonds; TCS, Infosys Q4 results: Top events of today

BS Web Team/New Delhi 12 Apr 19 | 07:57 AM

1. SC to pass order on electoral bonds today

The Supreme Court will pass an order on the legality of the electoral bonds scheme on Friday. The court heard the arguments from the Centre and the petitioners. The petitioners moved the court seeking either a stay on the scheme or some other transparent alternative for funding of political parties.

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During the hearing on Wednesday, the central government and the Election Commission of India (ECI) had taken opposing stands. The central government had defended the scheme and said that electoral bonds could be used to curb black money. The ECI had said that while it was not opposed to the use of the bonds as an instrument, it did not want the donations via them to remain anonymous. 

2. The Jet crisis continues

Lenders of Jet Airways had extended the deadline for submission of initial bids for stake purchase in the ailing airline to April 12. Cash-strapped Jet Airways has delayed salaries to pilots, defaulted on loan repayments as well as payments to aircraft lessors. SBI Capital Markets, which issued Expression of Interest (EoI) document on April 8, has extended the deadline for submission of initial bids to April 12. Read more

3. In a first, TCS, Infosys to release March quarter results on the same day 

IT giants Infosys Ltd and Tata Consultancy Services (TCS) Ltd kick off the final quarter results for fiscal 2019 on Friday. TCS and Infosys Technologies, the two largest in the country's IT sector, will announce their results for the March quarter on April 12. Some see this as reflecting new confidence at Infosys. The sector, overall, is expected to post good results for the March quarter, the final one for 2018-19. In the past five financial years (FY15 to FY19), there were only six quarters when Infosys announced its results first. Read more

4. Modi to address election meetings in Kerala on April 12

PM Narendra Modi will address election meetings in Kerala on April 12, BJP State chief P S Sreedharan Pillai said Thursday. This is the first visit of Modi to Kerala after the Election Commission issued a notification on March 19 kick starting the poll process in 97 seats spread across 13 states where phase two of the Lok Sabha polls will be held on April 18. Read more  

5. Lakshmi Vilas Bank to consider fundraising proposal

The board of Lakshmi Vilas Bank (LVB) approved the proposed merger with Indiabulls Housing Finance last week. The shareholders of Lakshmi Vilas Bank (LVB) will get 14 shares of Indiabulls Housing Finance (IBHF) for every 100 equity shares held in the bank, said the bank in a filing to the stock exchanges. Read more

6.  IIP data, retail inflation data to be released

IIP data and retail inflation data for February will be released today. The index of industrial production (IIP) grew at a two-month low of 1.7% in January, dragged by subdued manufacturing activities, compared to 2.6% in December. Read more

7. IPL 2019, KKR vs DC preview: Russell-Rabada battle on cards at Eden Gardens

In Match 26 of VIVO Indian Premier League (IPL 2019), Kolkata Knight Riders (KKR) will host Delhi Capitals (DC) at the Eden Gardens in Kolkata Friday. Andre Russell's big-hitting prowess will challenge Kagiso Rabada's inch-perfect yorkers for the second time in IPL 2019 as DC will look shed away their inconsistent run. Kolkata Knight Riders are placed at the second position in IPL points table 2019 with eight points from six matches. Read more

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Company Price Gain (%)
Reliance Inds.1,295.802.63
Axis Bank781.852.49
Tata Steel497.602.36
Power Grid Corpn201.551.31


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