Shares of India’s major private sector lender Yes Bank surged on Tuesday after media reports indicated that four PE firms have shown interest to pick up a stake in the bank. Yes Bank shares jumped more than 10.8% to hit the day’s high at Rs 103.35. “US-based private equity investor made an offer to acquire worth $850 million stake in the bank, the term sheet offer for which was made over the weekend,” The Economic Times said in a report, citing sources as saying.

Mindtree’s new promoter Larsen and Toubro (L&T) Tuesday assured shareholders that it will provide further impetus to the IT firm’s growth by providing board-level oversight and relevant client connects. Earlier this month, L&T became the new promoter of Mindtree after acquiring 60.06 per cent stake in the Bengaluru-based company.

Private sector lender HDFC Bank Tuesday said it has terminated and de-listed its global depository receipts (GDRs) from the Luxembourg Stock Exchange due to low trading volume. “….Subsequent to July 15, 2019, the listing and admission to trading of the GDRs on the Luxembourg Stock Exchange will be cancelled,” HDFC Bank said in a regulatory filing.

PUNE: Hyundai, second biggest car maker, which launched its first full-electric Kona SUV last week at Rs 25.30 lakh pan India showroom, could become cheaper by Rs 1.40 lakh.

Finance Minister Nirmala Sitharaman in her maiden Budget to promote e-mobility had proposed to slash the Goods and Services Tax from the present 12 per cent to 5 per cent on electric vehicles has been shared with the GST Council.

Domestic equity benchmark BSE Sensex jumped over 100 points in early trade on 16 July driven by gains in banking stocks, amid mixed cues from global markets.

The 30-share index was trading 104.83 points, or 0.27%, higher at 39,001.54 at 09:45 a.m. Similarly, the broader Nifty rose 29.25 points, or 0.25%, to 11,617.60.

The Rupee depreciated marginally by 5 paise to 68.59 against the U.S. Dollar in early trade on 16 July as the country’s exports entered the negative zone after a gap of eight months.

At the interbank Forex market, the Rupee opened weak at 68.59 registering a decline of 5 paise over its last close. The local currency however pared the initial loss and was trading at 68.55 at 09:45 a.m.

The Supreme Court on Monday refused to entertain a public interest litigation (PIL) that sought to drag the country's biggest insurer – Life Insurance Corporation (LIC) into the dock for allegedly selling five crore policies of Jeevan Saral under a false promise of higher returns.

Air India today linked Indore with Dubai with a non-stop flight, fulfilling a long-standing desire for a direct flight to the Gulf from the travel fraternity and tourists.

From Indore, Air India is operating a 162-seater A320neo aircraft, which will fly 3 times a week directly to Dubai on every Monday, Wednesday and Saturday.

Amazon workers walked out of a main distribution center in Minnesota on Monday, protesting for improved working conditions during the e-commerce titan's major "Prime" shopping event.

Amazon workers picketed outside the facility, briefly delaying a few trucks and waving signs with messages along the lines of "We're human, not robots."

Shares of Ashok Leyland dipped up to 4 per cent to trade at Rs 82.10 per share in the early morning deals on Tuesday after the company announced closure of its Pantnagar plant due to weak demand and outlook for the industry.

In a regulatory filing, the heavy vehicle manufacturer said that the plant will remain closed between July 16 and July 24.

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