Business

The move comes in the backdrop of remarks by Malaysia, a major exporter of palm oil to India, on the new citizenship law and Kashmir issue.

The I-T department had debarred individual taxpayers jointly owning houses and those who paid Rs 1 lakh in electricity bills a year or Rs 2 lakh expense on foreign travel from filing their annual income return using the simple return forms.

The 30-share BSE index surged 634.61 points, or 1.55 per cent, to finish at 41,452.35. Similarly, the broader Nifty surged 190.55 points, or 1.58 per cent, to 12,215.90.

The stock was under pressure after the maker of the Royal Enfield motorcycles reported weak sales for the month of December.

Gold rose following rise of geo-political uncertainty and weaker rupee, HDFC Securities Head - Advisory (PCG) Devarsh Vakil said.

Worker unions affiliated to left-wing groups and political parties have called a strike across India on Wednesday to protest over Prime Minister Narendra Modi's government's policies .

Nusli Wadia filed a criminal defamation case against Ratan Tata and other directors of Tata Sons in 2016 after he was voted out of the boards of some Tata Group companies.

The findings are likely to provide some relief to markets and spur hopes of an economic recovery in Asia's third-largest economy.

At the Interbank Foreign Exchange, the rupee opened on a weak note at 72.03 then fell further to 72.11 against the US dollar, showing a decline of 31 paise over its previous closing.

The government, which usually notifies forms for filing income tax returns by individuals in April every year, on January 3 notified tax return forms for assessment year 2020-21.

The meeting is being convened following request by co-promoter Rakesh Gangwal and related entities who together hold 36.64 per cent stake in the company, the parent of the country's largest airline IndiGo.

In addition, TRAI has also been decided that channels declared mandatory by Ministry of Information and Broadcasting will not be counted in the number of channels in the NCF.

A two-member bench headed by Chairman Justice S J Mukhopadhaya asked the Ministry of Corporate Affairs to submit details of the definition of private and public companies under the rules of the Companies Act.

Tech Mahindra was the top loser in the Sensex pack, shedding 2.51 per cent, followed by Bajaj Auto, RIL, Hero MotoCorp, IndusInd Bank, Mahindra and Mahindra, HDFC and TCS.

The order came after the regulator conducted an inspection between April 2016 and December 2017 to examine the running account settlement mechanism of India Advantage Securities.

The airline has a debt burden of around Rs 60,000 crore and the government is still working on the modalities for the disinvestment.