Private sector lender Kotak Mahindra Bank on Wednesday informed stock exchanges that the Reserve Bank of India (RBI) has given its final approval to the bank’s proposal on stake reduction in the bank and capping the promoters’ voting rights.

Further to our intimation dated 30th January 2020, please note that the Reserve Bank of India has granted its final approval vide its letter dated February 18, 2020 in the matter relating to dilution of promoters' shareholding in the bank, the bank said.

Shares of Bandhan Bank were trading lower for the third straight day, slipping 3 per cent intra-day to hit its 52-week low of Rs 411, on the BSE on Wednesday. The stock of the private sector lender was trading at its lowest level since February 5, 2019.

In the past three months, Bandhan Bank has underperformed the market by falling 27 per cent, as compared to a 2 per cent rise in the S&P BSE Sensex. It has slipped 37 per cent from its 52-week high level of Rs 650, touched on October 29, 2019.

US President Donald Trump has said he is saving the big deal with India for later and he does not know if it will be done before the presidential election in November, clearly indicating that a major bilateral trade deal during his visit to Delhi next week might not be on the cards.

We can have a trade deal with India. But I'm really saving the big deal for later, he told reporters at Joint Base Andrews Tuesday afternoon (local time).

Shares of Indian Railway Catering and Tourism Corporation (IRCTC), the online ticketing, tourism and the catering arm of railways, hit a new high of Rs 1,743, up 6 per cent on the BSE on Wednesday.

In the past two trading days, it has rallied 15 per cent ahead of the commercial run of Kashi Mahakal Express, the third train operated by it, from Thursday, February 20. The stock was trading at its highest level since listing on October 14, 2019.

The Uttar Pradesh government on Tuesday set aside Rs 500 crore for an airport in Ayodhya and Rs 200 crore for the beautification of Varanasi's Kashi Vishwanath temple in a Budget that is also big on road and Metro rail projects.

The Budget presented in the state Assembly by Finance Minister Suresh Kumar Khanna provides Rs 2,000 crore for the new airport project at Jewar near Delhi.

Shares of Aurobindo Pharma surged 19 per cent to Rs 594 on the BSE in early morning deal on Wednesday after the company’s Unit IV received Establishment Inspection Report (EIR) with Voluntary Action Initiated (VAl) status from the US health regulator.

At 09:21 am, the stock was trading 13 per cent higher at Rs 563, as compared to 0.87 per cent rise in the S&P BSE Sensex. A combined 4.58 million shares changed hands on the counter in the first six minutes of trade on the NSE and BSE.

Vodafone Idea Chairman Kumar Mangalam Birla, MD and CEO Ravinder Takkar on Tuesday called on Telecom Secretary Anshu Prakash amid concerns of its very survival if the government invokes bank guarantee over no payment of adjusted gross revenue (AGR).

The company on Monday paid Rs 2,500 crore on account of its AGR dues and said that another Rs 1,000 crore will be paid by Friday. It is said that funds are being arranged to pay the remaining amount.

A day after Google announced that it is winding down its 'Station' program that provided free WiFi at more than 400 stations in India, RailTel on Tuesday clarified that it will continue to provide free internet services at more than 5,600 railway stations across India.

According to an official statement by RailTel, a Miniratna PSU under Ministry of Railways, Google provided the Radio Access Network (RAN) and Technology support while RailTel provided the physical infrastructure and internet bandwidth at 415 A1, A,C category stations only.

The engine of a Bengaluru-Ahmedabad GoAir flight caught a small fire at the time of takeoff, the airline said on Tuesday.

The fire, however, has been doused and all passengers and crew are safe and the plane is being towed off the runway after which the passengers will be deplaned, GoAir said in a statement.

The number of persons on board, however, could not be immediately known.

Delhi Chief Minister Arvind Kejriwal has called a meeting of top officers on Wednesday to discuss the implementation of ten guarantees including uninterrupted power supply, garbage-free Delhi and basic facilities for unauthorised colonies, sources said.

Issues like potable piped water supply, education for every child, free bus ride scheme for different sections of society, healthcare facilities, safety of women and cleaning of Yamuna are included in the agenda of the meeting scheduled to be held at noon on Wednesday, the sources said.

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