LUCKNOW, TUESDAY, NOVEMBER 23, 2021 FOLLOW US ON TWITTER & FACEBOOK. APP AVAILABLE ON APP STORE & PLAYSTORE VOL XIV NO. 191, 20 PAGES, `8.00 P U B L I S H E D F R O M : A H M E D A B A D , B E N G A L U R U , C H A N D I G A R H , C H E N N A I , H Y D E R A B A D , K O C H I , K O L K ATA , L U C K N O W, M U M B A I , N E W D E L H I , P U N E WWW.FINANCIALEXPRESS.COM READ TO LEAD SENSEX: 58,465.89 ▼ 1170.12 NIFTY: 17,416.55 ▼ 348.25 NIKKEI 225: 29,774.11 ▲ 28.24 HANG SENG: 24,951.34 ▼ 98.63 `/$: 74.40 ▼ 0.17 `/€: 83.93 ▲ 0.21 BRENT: $78.72 ▼ $0.17 GOLD: `48,710 ▼ `328 IN THE NEWS Jerome Powell tapped for second term as Fed chair FEDERAL RESERVE Chair Jerome Powell was nominated for a second four-year term by US President Joe Biden on Monday, extending a tenure that began somewhat by chance, survived blistering criticism from former President Donald Trump, and now positions the ex-investment banker to finish the most consequential revamp of monetary policy since the 1970s, reports Reuters. Data protection bill: House panel adopts report amid dissent AFTER NEARLY two years of deliberations, the Joint Committee of Parliament on the Personal Data Protection Bill, 2019, on Monday adopted the report on the Bill, which provided the government with powers to give exemptions to its probe agencies from the provisions of the Act, a move opposed by opposition MPs who filed their dissent notes, reports PTI. India-US trade didn't quite live up to potential: USTR THE TRADE relations between the US and India remain a top priority for the Biden administration, but the bilateral trade “never seemed to quite live up to its significant potential”, US trade representative (USTR) Katherine Tai said in New Delhi on Monday, reports fe Bureau in New Delhi. MONDAY MAYHEM Markets crash as RIL drags, Paytm plunges Stocks see worst single-day drop in over 7 months 59,500 SENSEX CRASHED OVER 1,600pointsinintra-daytrade on Monday as continued weakness in Paytm shares and the proposed withdrawal of Reliance-Aramco deal dented market sentiment. The rollbackofthethreefarmlawsalso shattered confidence. Sensex marked its biggest fallsinceApril12andclosedthe sessionat58,465.89points.The broader Nifty closed 348.25 points lower at 17,416.55 points.WithMonday’sfall,both indices have lost over 5% from their October highs. Monday’s sell-offalsowipedout`8.2lakh crore of investor wealth. The combinedmarketcapitalisation of BSE-listed companies stood at `260.99lakh crore. Shares of Reliance Industries, which enjoy the highest weight on benchmarks, plunged as much as 4.42% on 58,465.89 59,000 58,500 58,000 57,500 Previous close : 59,636.01 Close Open One 97 Communications Intra-day on BSE (`), Nov 22 1,575 1,500 1,360.30 1,350 1,275 Previous close : 1,564.15 Open Close Mondayas the companycalled off a proposed deal to sell a 20% stake in its oil-to-chemicals unit to Saudi Aramco. Continued on Page 2 Paytm down 37% over issue price SHARES OF Paytm E-Commerce continued to slide on Monday as investors rushed to exit the stock, reports fe Bureau in Mumbai. After shedding 27% on listing day, the stock slipped another Arpu set to move closer to `200 from the current `153 BHARTI AIRTEL ON Monday announced a 20-25% hike in tariffsacrossitsprepaidplans,a movewhichwouldtakeitsaverage realisation per user (Arpu) closertothe`200-markagainst `153 currently.This is the first major tariff hike across the board since December 2019.In July this year,the company had effected a limited tariff hike in the corporate postpaid plans and entry-level prepaid plan. Analysts also expect Vodafone Idea and Reliance Jio to nowcomeoutwithtariffhikes. Rate card Validity Current New 28 days 56 days 84 days `79 `399 `598 `99 `479 `719 FE had recently reported that with Reliance Jio’s new entrylevel smartphone, launched around Diwali not exactly being a disruptor in terms of pricing, rival operators like BhartiAirtelandVodafoneIdea are likely to hike tariffs. The new rates will come into effect from November26. Continued on Page 2 1,500 1,425 1,200 Bharti hikes prepaid tariffs by up to 25% FE BUREAU New Delhi, November 22 Sensex Intra-day, Nov 22 60,000 59,710.48 FE BUREAU Mumbai, November 22 PRICE POINT 13.03% on Monday, taking thecumulativefallfromissue price to 36.73%. Fino Payments Bank also fell for the sixth day, having cumulativelylost31.2%sincelisting. ■ Report on Page 9 QuickPicks Coal gasification : Govt proposes 15% methanol-blending target A BLUEPRINT for the ‘National Coal Gasification Mission’ prepared by the Union coal ministry has proposed a 15% methanol-blending target with petrol to encourage investments in the sector. It also proposes massive tax waivers to incentivise coal gasification, which can lead to ecofriendly alternative utility of the fuel abundantly available in the country, reports Anupam Chatterjee in New Delhi. PAGE 2 PMC Bank depositors with over `5L in a/cs to get paid in 10 years RBI ON Monday released the draft scheme for the amalgamation of PMC Bank with Unity Small Finance Bank, reports fe Bureau in Mumbai. The scheme envisages a full payout for depositors with deposits of over `5 lakh over a period of 10 years. Unity SFB will have to transfer the amount received from the DICGC to all eligible PMC Bank depositors an amount equal to the balance in their a/cs up to `5 lakh, within a 90-day period. PAGE 9 Lucknow
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