Salman Khan effect, Telecom sector revenue, BSE Sensex, Gold prices, more
Salman Khan verdict: Shares of Eros International Media and Mandhana Industries Ltd, the entities associated with Samlan Khan, came under intense selling pressure today after the Bollywood actor was convicted in the 2002 hit-and-run case. Reacting to the news, Eros International scrip plunged 5.66 per cent to Rs 381 on the BSE, while Mandhana Industries slumped 4.74 per cent to Rs 263.10.
Bollywood superstar Salman Khan was on Monday sentenced by a sessions court to five years' rigorous imprisonment in the 2002 hit-and-run case, but he swiftly moved the Bombay High Court which granted him interim bail till May 8 to hear his appeal against conviction. Justice Abhay Thipsay granted interim bail to the actor on the ground that the accused had been given only a 2-page operative part of the conviction order and not the full reasoned order by the sessions court.
The government on Wednesday said the telecom sector in 2013-14 generated over Rs 2.19 lakh crore revenue, which accounted for 1.93 per cent of the country's gross domestic product (GDP). Telecom Minister Ravi Shankar Prasad in a written reply to the Lok Sabha said that for 2013-14, revenue generated by telecom sector stood at Rs 2,19,357 crore and the GDP stood at Rs 1,13,45,056 crore. Telecom revenue was 1.93 per cent of the GDP.
The 30-share Sensex after opening a shade higher at 27,473.36 and advanced to a high of 27,501.15. However, it succumbed to selling pressure and dipped below the 27,000-mark with blue-chip stocks ICICI Bank, ONGC, Cipla and ITC, among other plummeting. It touched a low of 26,677.64 before settling 722.77 points or 2.63 per cent lower at 26,717.37, the lowest in nearly 5 months. This is the biggest single day fall in last four months after 855 points plunge on January 6. Besides, this is the second-biggest since Modi government took over on May 26, 2014. The 50-share NSE Nifty crashed by 227.80 points or 2.74 per cent to close below 8,100-mark at 8,097.
SBI associate bank State Bank of Bikaner and Jaipur (SBBJ) today reported 18 per cent rise in its net profit at Rs 280.25 crore in the January-March period, driven by improvement in asset quality and higher recovery from written-off accounts.
Taking positive cues from global markets and increased seasonal buying by jewellers, gold extended gains for the second straight day by rising Rs 130 to Rs 27,350 per 10 grams at the bullion market.
Stock market witnessed a bloodbath with Sensex tanking 723 points -- its second biggest single day fall since Narendra Modi government took over -- on huge sell-off by FIIs on concerns over GST and other reforms.
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