Telecom regulator Trai will hold a consultation on spectrum allocation with state-owned firms BSNL and MTNL soon, a top official said Tuesday.

"We have received a reference from the DoT couple of days back on the allocation of spectrum for 4G services to BSNL and MTNL. We will issue a consultation paper and hold open house discussion on it," Trai Chairman R S Sharma told reporters on sidelines of an ICEA event.

Reliance Industries Ltd said on Tuesday its unit Reliance Retail Ltd (RRL) has acquired consumer goods company ITC Ltd’s menswear brand John Players.

The acquisition would strengthen RRL’s readymade garments and accessories portfolio in the fashion and lifestyle retail space, Reliance told Reuters in an email.

New Delhi: The general insurers will have to provide details about crop insurance claims to farmers in vernacular languages, apart from Hindi and English, regulator Irdai has said.

Insurance Regulatory and Development Authority of India (Irdai) said it has been receiving various complaints and suggestions in respect of crop insurance claims.

Domestic equities staged a comeback Tuesday with the BSE Sensex recovering over 77 points, while the NSE Nifty inched closer to 11,400 points driven by smart gains in oil & gas, banking and metal stocks amid positive Asian cues.

The 30-share Sensex was trading higher by 77.38 points, or 0.20 per cent, at 37,886.29 in early trade.

Larsen & Toubro’s move to scale up in IT miscomputes. The Indian engineering-to-financial services conglomerate, led by AM Naik, has initiated a hostile bid for control of Mindtree, valuing the Mumbai-listed outsourcer at 155 billion rupees ($2.2 billion). Yet the suitor’s promise to run the outfit independently, outside its existing IT businesses, undermines the whole venture.

The Reserve Bank of India (RBI) will issue guidelines for a “regulatory sandbox” in the FinTech space in the next two months, RBI governor Shaktikanta Das said on Monday, stressing that FinTech has potential to alter India’s financial services landscape. A “sandbox” is a framework set up by a regulator that allows FinTech start-ups to conduct live experiments in a controlled environment under supervision.

After months of deliberations, Hyundai Motor India (HMIL) has finally reached a fresh three-year wage agreement with the recognised union, United Union of Hyundai Employees (UUHE). As per the agreement, technicians will receive an average salary increase of Rs 25,200 per month to be paid over three years. Over 2,200 workers are likely to benefit from the agreement.

Axis Bank wants to take the number of its branches in the country to 5,000-5,500 which will bring it on par with the country’s top two private lenders in branch strength. While the top two private banks — ICICI Bank and HDFC Bank — have slowed down the pace of bank expansion, Axis Bank will continue its branch expansion strategy, Amitabh Chaudhry, MD & CEO, Axis Bank, said. In the next three to four years, we will add 400 to 500 branches, Chaudhry said. Once it reaches 5,000-5,500 branches, the expansion will come down, he added.

Shares of DLF rallied by 7 per cent to Rs 202 in intra-day trade on the BSE on Tuesday after the real estate developer on Monday announced the launch of a Qualified Institutional Placement (QIP) programme to raise Rs 3,175 crore.

The stock was trading close to its 52-week high of Rs 226 touched on April 27, 2018 in intra-day trade.

Mumbai: Benchmark Sensex spiralled lower for the second straight session on Monday and trailed below the key 38,000-mark, with banking and realty counters taking the biggest hit amid a global sell-off triggered by renewed fears of a recession.

BSE Sensex tumbled 355.70 points to end at 37,808.91 while the wider NSE Nifty plunged 102.65 points to 11,354.25. The Sensex has now lost over 575 points in two sessions.

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