Embassy Property Development is merging some of its residential and commercial properties with Indiabulls Real Estate to set up a new entity, the latter said on Friday.

The companies did not share details of the properties they are merging. Under the proposed merger, Indiabulls will issue equity shares of Rs 2 each to the shareholders of Embassy, in accordance with the swap ratio approved by the boards of both the companies, Indiabulls said.

Shares of his Amazon.com surged 12 per cent to $2,100 in extended trading late on Thursday in New York, after the largest US e-commerce company reported fourth-quarter results that smashed Wall Street estimates.

Bezos, already the world’s richest person, added $13.2 billion to his fortune in 15 minutes. At the current price, his net worth would be about $129.5 billion, according to the Bloomberg Billionaires Index.

Shares of Tech Mahindra dipped 3.5 per cent to Rs 767 on the BSE on Saturday after the company reported 2 per cent growth in its consolidated net profit at Rs 1,146 crore for the quarter ended December 31, 2019 (Q3FY20), on sequential basis. On a year-on-year basis, the numbers declined 5 per cent.

Revenue from operations stood at Rs 9,655 crore, up 6.4 per cent compared with Rs 9,070 crore reported in the September quarter (Q2FY20). In constant currency terms, the revenue grew 4.3 per cent QoQ. In US dollar terms, revenue rose 5.1 per cent to $ 1,353 million.

State Bank of India (SBI) put up a better-than-expected show during the December 2019 quarter (Q3FY20), on most operational parameters. The exception was on the loan growth front, possibly on account of the overall slowdown in the economy.

Good recovery from the Essar Steel stressed loan account provided an impetus to the Q3 performance. However, gains were restricted due to the DHFL account turning bad.

Bullet motorcycle maker Royal Enfield today announced the end of production of 500cc motorcycles for the domestic market. Royal Enfield Classic, Bullet and Thunderbird 500cc motorcycles will be available for retail in India only till March 31, while continuing to be sold in global markets, the company said.

Public sector lender Bank of India reported a profit before tax (PBT) of Rs 119.68 crore in the third quarter of the financial year 2019-20 (Q3FY20).

The Mumbai-based bank had posted pre-tax loss of Rs 6,727 crore in Q3FY19.

Indian Oil Corp, the country's top refiner, will invest $1.94 billion to expand the capacity of its Barauni refinery in eastern Bihar state by 50 per cent to 180,000 barrels per day by April 2023, the company said on Friday.

The state-run company is raising its refining capacity to meet growing demand for petroleum products in the country.

Air India's 423-seater jumbo B747 plane will depart from Delhi airport at 12.30 pm on Friday to Beijing to evacuate Indian nationals who are in China as the neighbouring country deals with novel Coronavirus outbreak.

The B747 plane is all set to depart from Delhi at 12.30 pm. It came from Mumbai on Friday morning only, said a senior airline official.

Shares of Central Public Sector Enterprises (CPSEs) continued to reel under pressure with the Nifty CPSE index trading near four-year low after falling 3 per cent on the National Stock Exchange (NSE) on Friday.

At 10:02 am, Nifty CPSE index, the top loser among thematic indices, was down 3 per cent at 1,720 on the NSE. The index has fallen below its previous low of 1,757.75, touched on August 23, 2019.

Bharti Airtel on Friday said its name has now been removed from the denied entry list for non-fulfilment of export obligation under an export promotion scheme.

We are actively engaged with the authorities to complete the formalities and provide additional documents for closure of the remaining cases, the company said in a statement.

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