Key Indian benchmark indices end positive on Monday
Mumbai, Mar 12 (IBNS): The Indian market closed in positive territory on Monday, with BSE Sensex up 610.80 points at 33917.94, and NSE Nifty up 194.50 points at 10421.40, largely due to positive cues in global market, according to reports.
Top gainers on Monday included Bharti Airtel, Vedanta, ITC, NTPC, Tata Motors, Tata Steel and Hindalco while Coal India, Aurobindo Pharma, Idea Cellular and SBI were some of the stocks that declined.
Meanwhile, the Central government on Monday tabled the The Fugitive Economic Offenders Bill 2018 in the Lok Sabha.
The proposal from the Union Finance Ministry was approved on Mar 2 by the Union Cabinet chaired by Prime Minister Narendra Modi.
The Bill is expected to bring to book absconding offenders such as Vijay Mallya and Nirav Modi who have allegedly refused to return to India from abroad, according to media reports.
The Bill is expected to help in laying down measures to deter economic offenders from evading the process of Indian law by remaining outside the jurisdiction of Indian courts, according to the ministry.
Cases where the total value involved in such offences is Rs.100 crore or more, will come under the purview of this Bill.
The Bill is expected to re-establish the rule of law with respect to the fugitive economic offenders as they would be forced to return to India to face trial for scheduled offences, according to the Finance ministry.
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