Money Market Guru ⭐⭐⭐⭐⭐ — World’s largest coal producer Coal India Ltd on Saturday said its arm Central Coalfields Ltd has approved a share buyback plan worth Rs1,001.88 crore.
“The board of directors of Central Coalfields Ltd (CCL), our wholly-owned subsidiary, at a meeting held on March 3, 2017 considered and approved the buyback of 5,21,000 fully paid equity shares of face value of Rs 1,000 each from the members of CCL on a proportionate basis through tender offer,” Coal India said in a Bombay Stock Exchange (BSE) filing on Saturday.
Money Market Guru ⭐⭐⭐⭐⭐ — In a world of fake news and viral WhatsApp messages, you may end up believing the rumour that currency notes that have something scribbled across them are no longer legal tender. Your heart may sink if an ATM spits out yet another note with “Sonam Gupta bewafa hai” (Sonam Gupta is unfaithful) written on it.
Currency notes with scribbles are legal tender, says RBI
Money Market Guru ⭐⭐⭐⭐⭐ — A private survey signaled the first expansion in four months for India’s key service sector, adding to signs the economy is bouncing back from Prime Minister Narendra Modi’s shock clampdown on cash late last year.
The Nikkei India Services Purchasing Managers’ Index inched up to 50.3 in February, a report showed Friday, from 48.7 in January and November’s 46.7, which was the lowest since December 2013. A number above 50 indicates growth.