India’s power minister Jyotiraditya Scindia said electricity distributors in capital New Delhi should clear overdue payments to state-run NTPC Ltd., after the nation’s biggest generator threatened to cut off supplies.
Reliance Infrastructure Ltd. , controlled by billionaire Anil Ambani , approached banks for a 70 billion-rupee ($1.5 billion) loan to fund a new rail project in Mumbai, according to a person familiar with the matter.
India’s Bombay Stock Exchange Sensitive Index, or Sensex, fell 182.93, or 1 percent, to 17,592.77, at the 3:30 p.m. close in Mumbai, the lowest level since July. Shares of the following companies had unusual moves in Indian trading and stock symbols are in parentheses.
Billionaire Anil Ambani’s Reliance Infrastructure Ltd. said it stopped operating New Delhi’s airport rail link, the nation’s first privately run urban train service, over a breach of contract relating to defects.