Rel Cap, Rel Home Finance plumb fresh 52-week lows

NEW DELHI: Hitting their fresh 52-week lows, shares of Reliance CapitalNSE -10.36 % fell over 13 per cent to Rs 73.30 while those of RelianceNSE -0.73 % Home FinanceNSE -0.49 % declined over 7 per cent to Rs 13.85 in Friday’s session. Both stocks extended their losing streak to third consecutive session amid reports that Sebi and the Ministry of Corporate Affairs are looking into the sudden resignation of PWC as auditor of Reliance Capital and Reliance Home Finance and have asked the stock exchanges to collect all necessary information including trade details and statements made…

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Finance Ministry starts groundwork for fresh banking mergers

NEW DELHI: The next wave of bank consolidation is planned during the October-December quarter of the current fiscal with the Finance Ministry starting to seek information from PSBs on possible targets for amalgamation/mergers and acquisitions with justification on how such an initiative will synergise operations and strengthen the bank. Government sources said that heads of all public sector banks (PSBs) have been asked to be ready with their consolidation plan so that it could be placed before the alternative mechanism (AM) of the new government as soon as it is…

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Rooftop tours offer fresh look at Saint Petersburg in Russia

Standing on a roof in central Saint Petersburg, Marta Granadeiro gasped as she watched the statues on the Hermitage Museum’s facade gleam in the sunset. “We wanted to see something extraordinary in Saint Petersburg and now we have,” said Granadeiro, a 23-year-old Spanish tourist who climbed onto the roof of an apartment building on a tour organised by a local tourism agency. The rusty rooftops of Russia’s tsarist-era capital, with its romantic skyline of elegant onion domes and pre-revolutionary buildings, have long been a coveted destination for illegal excursions. To…

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