Even as the Supreme Court on Monday dismissed the petitions of operational creditors of bankrupt Essar Steel, which includes Indian Oil Corporation, the promoters of the company — Ruias — moved the National Company Law Appellate Tribunal (NCLAT) against the January order of the Ahmedabad bench of the National Company Law Tribunal (NCLT) which had rejected its plea for placing an offer for resolution of the company.

The finance ministry through the Specified Undertaking of the Unit Trust of India (SUUTI) will sell up to a 3% stake in Axis Bank through the offer-for-sale (OFS) mechanism on Tuesday and Wednesday, the bank said in a notification to exchanges on Monday. The floor price for the offer would be Rs 689.52 per share. Axis Bank’s shares ended 1.1% lower than their previous close at Rs 710.35 on the BSE on Monday.

DLF’s operational performance continued to improve in Q3FY19 with new sales coming in at Rs 560 crore (Rs 630 crore in Q2FY19); the company also made positive operational cash flow (post-capex ex-dividend) for the second quarter running. Management continues to focus on liquidating Rs 12,300-crore inventory and scaling up the rental portfolio (DCCDL).

Amazon.com Inc said on Monday it has signed an agreement to buy eero, a startup company that makes home routers, to help customers better connect smart home devices.

Terms of the deal were not disclosed.

The Department of Telecom (DoT) is divided over the allocation of backhaul airwaves to mobile operators, with half of them backing the auction route for selling microwave spectrum and the remaining half sticking to the current practice of allotment on a first-cum-first-served basis.

The latter is international practice. According to at least two persons privy to the development, an internal panel of the DoT that is working on a policy of allotting backbone airwaves has not been able to decide on the matter due to differing views of the members.

Shares of Mahindra & Mahindra (M&M) hit a 52-week low of Rs 661 per share, down 3 per cent on the National Stock Exchange (NSE) in early morning trade on Monday after the management revised its tractor volume guidance lower to 10 per cent from earlier lower band of 12-14 per cent. It also expects FY20 tractor growth to be in single digits. The passenger vehicles industry is expected to grow at around 5-6 per cent in FY19.

The rupee opened eight paise higher at 71.23 against the US dollar on Monday.

The domestic unit appreciated by 14 paise Friday to close at 71.31 against on persistent foreign fund inflows even as the greenback strengthened overseas amid fresh concerns over global growth.

Debt-ridden telecom operator Reliance Communications (RCom)'s subsidiary Reliance Realty will develop the Maharashtra’s first and largest Smart Fintech Centre in Navi Mumbai, RCom announced on Monday. The Department of Information Technology, Government of Maharashtra and the Maharashtra Industrial Development Corporation (MIDC) granted approval to Reliance Realty to develop the Smart Fintech Centre at its Dhirubhai Ambani Knowledge City (DAKC) in Navi Mumbai, under the Government of Maharashtra’s new Fintech Policy.

A Delhi court on Monday asked the CBI and the ED to provide documents to the accused in IRCTC scam cases on February 14 and 25 respectively.

Special Judge Arun Bhardwaj fixed February 14 as the date for the Central Bureau of Investigation (CBI) to provide the documents to the accused and the Enforcement Directorate (ED) will have to submit them on February 25 at 2 pm.

State-run telecom player BSNL has solidified its representative benefits and is undertaking other measures to cut down its use radically, pointing to support itself within the current advertise situation, its chairman and overseeing executive Anupam Shrivastava told DNA Cash.

With all the taken a toll cutting exercices put together, the company has been able to spare Rs 2,500 crore final year and a comparative sum is anticipated to be spared within the continuous fiscal.

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