The independent directors’ committee (IDC) at Mindtree on Wednesday said Larsen and Toubro’s open offer price of Rs 980 seemed “fair and reasonable”, and recommended that shareholders take independent but informed decision on tendering their shares.

Shares of YES Bank hit a 40-month low of Rs 126, down 6 per cent on the BSE in the early morning trade on Thursday after reports said global brokerage firm UBS has cut the target price of private sector lender to Rs 90 from Rs 170.

The stock was trading at its lowest level since January 20, 2016, when it touched Rs 126.44 in the intra-day trade.

“Mothers are now able to reach us even during the monsoon,” said Arundhati Das, 52, pointing at the asphalt road outside a one-room government health sub-centre in Bhojkhowa village. The centre serves a population of 10,000 in Assam’s flood-prone Sonitpur district and Das has been in charge of it since 2001. There is a bed in one corner, and a baby weighing scale on top of it.

The BSE Sensex snapped its three-day rising streak to end 194 points lower on Wednesday, pressured by losses in banking and auto stocks amid a broad sell-off in overseas markets.

Investors were also cautious ahead of the release of inflation and factory output numbers, traders said.

The UK High Court on Wednesday denied bail to diamond merchant Nirav Modi, who is fighting his extradition from Britain to India in the nearly USD 2 billion Punjab National Bank (PNB) fraud and money laundering case.

Judge Ingrid Simler at the Royal Courts of Justice said that there are substantial grounds to believe that Modi will fail to surrender. Moreover, the judge felt that there could be interference with the witnesses and obstruction of justice.

Digital payments major Paytm Wednesday said it will invest Rs 250 crore this year for the expansion of Paytm QR in tier IV and V towns.

"With this investment, Paytm expects to reach more than 20 million merchants across India by the end of this fiscal," it said in a statement.

Independent Directors' panel of Mindtree has said that Larsen and Toubro's open offer price at Rs 980/share appears "fair and reasonable".

The committee cited the closing market price of Mindtree shares on the stock exchanges on June 10, being "lower than the offer price" and said that L&T's offer price of Rs 980 a share is in accordance with the regulations and "appears to be fair and reasonable".

Indian Oil Corp has issued a tender for short-term commercial lease of its liquefied natural gas (LNG) storage tank at Ennore terminal near Chennai, according to a notice posted on the company website.

The company is seeking bids for the short-term lease for LNG unloading, storage and reloading services at the 5 million-tonnes-per-annum (mtpa) import facility which was commissioned earlier this year.

Kolkata: Kolkata-headquartered diversified conglomerate ITC Ltd has drawn up a capex of Rs 20,000 crore in multiple projects in multiple sectors across the country. Of this as much as Rs 5700 crore is being invested in various projects in West Bengal. The entire amount will be invested over the next few years, ITC Chairman Sanjiv Puri said in Kolkata on Tuesday.

The Reserve Bank of India said Tuesday that it has imposed a penalty on two prepaid payment instrument (PPI) issuers Yes Bank and ZipCash Card Services for non-compliance with regulatory norms.

A penalty of ₹11.25 lakh each has been imposed on the two PPI issuers, according to an RBI release.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.