Mumbai: Indian conglomerate Larsen & Toubro Ltd would spend up to 70 billion rupees (USD 1.02 billion) in a hostile bid to buy IT services company Mindtree Ltd, the Times of India (TOI) reported citing sources directly involved with the matter.

L&T will buy out Mindtree’s largest shareholder VG Siddhartha and companies in which he is a promoter, following which an open offer will be sent to the public shareholders of Mindtree, according to the report published on Monday.

Indian Oil Corp hopes to restart a 150,000-barrel-per-day (bpd) crude distillation unit (CDU) at its Panipat refinery in the next 2-3 days, its head of refineries said on Monday, days after the unit caught fire due to a naphtha leak.

IOC, the country’s top refiner, had shut the CDU and some other secondary units at the 300,000-bpd refinery in the northern state of Haryana for about a month from mid-February for routine maintenance.

Domestic equities continued their bull run on Monday with the BSE Sensex rising over 300 points and the Nifty reclaiming the 11,500 mark amid unabated foreign fund inflows and narrowing country’s trade deficit.

Besides, positive cues from other Asian markets too bolstered trading sentiment in Mumbai, traders said.

The rupee appreciated 17 paise to 68.93 against the U.S. dollar in opening trade on March 18 driven by weakening greenback in overseas markets and sustained foreign inflows.

Besides, narrowing country’s trade deficit and selling of the American currency by exporters supported the domestic currency, dealers said.

The way entertainment modes are changing with new avenues of content creation and its dissemination, people now enjoy their favourite shows in the form of short videos, web series etc.

Several platforms (OTT) have come up to cater to the entertainment demand in the backdrop of the internet boom.

Facebook Chief Executive Officer Mark Zuckerberg has had a very bad week, even in the context of a very bad year.

The week of bad news actually started March 8 with a proposal from U.S. senator and presidential candidate Elizabeth Warren to break up the company.

Shares of Maruti Suzuki India (MSIL) dipped 4 per cent to Rs 6,780 on the BSE in early morning trade in an otherwise strong market, on reports of production cut due to slower demand.

“A slowing demand in India’s passenger vehicle market has prompted the car market leader, Maruti Suzuki India, to cut production by a quarter over March last year,” the Business Standard reported quoting people aware of the company’s plans.

Amidst increasing differences between Jet Airways and Etihad Airways, the only party that can bailout the beleaguered airline, over the equity cap that its founder chairman Naresh Goyal can hold after his forced exit,bankers Friday exuded confidence of reaching a resolution plan as early as next week.

Extending its winning run to the fifth session, BSE benchmark Sensex climbed 269 points to hit six-month high of 38,024 led by rally in banking stocks amid soaring foreign fund inflows, strengthening rupee and positive global cues.

After rallying nearly 500 points in afternoon trade, the Sensex settled 269.43 points, or 0.71%, higher at 38,024.32. The NSE Nifty closed 83.60 points, or 0.74%, up at 11,426.85.

New Delhi: National carrier Air India on Friday requested its "inactive" crew members to "immediately" join work at a time when the airline has been forced to cancel and reroute a number of US and Europe-bound flights due to closure of Pakistan airspace since February 27.

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