The long-drawn Essar Steel insolvency saga may now be heading towards a denouement. Nearly 550 days after the case was admitted by a company tribunal to find a suitor, more than twice the law-mandated deadline of 270 days, it now appears a successful resolution plan may be declared shortly.

Reliance Industries Ltd.s plan to strengthen its balance sheet will hinge on future capital spending as credit market participants zero in on whether the company will be able to slow those outlays over the next year.

The conglomerate has invested about $64 billion across telecom and retail as well as petrochemicals and oil refining expansions, Joint CFO V. Srikanth said during last weeks earnings briefing.

The benchmark Sensex rose marginally in early trade on January 24, reversing its two-session losing streak on buying in select bluechips by domestic investors amid positive Asian cues.

Investor sentiment, however, was cautious amid global headwinds, turning key indices choppy.

The board of the country’s largest telecom operator by subscribers but financially the weakest, Vodafone Idea on Wednesday approved the proposal to raise up to `25,000 crore, a major portion of which will come from the promoters, Vodafone Plc and the Aditya Birla Group.

According to the company’s filing with stock exchanges, the funds will be raised through a rights issue and the infusion is expected to happen by March.

Diversified conglomerate ITC on Wednesday reported a 3.85 % year-on-year rise in its net profit to Rs 3,209.7 crore during the quarter to December 2018, although its comprehensive income witnessed a 13.8% y-o- y jump to Rs 3,637.01 crore taking into account the other comprehensive income it had during the quarter. The comprehensive income registered the highest growth during the last 17 quarters driven by enhanced scale,

Tata Motors on Wednesday launched sport utility vehicle (SUV) Harrier at a starting price of Rs 12.69 lakh (ex-showroom, Mumbai) with top-variant being priced at Rs 16.25 lakh.

Harrier is the first Tata car to be built on the Optimal Modular Efficient Global Advanced Architecture (Omega) which is derived from the Land Rover platform.

Indian Oil Corporation (IOC) on Wednesday announced a total investment of Rs 16,641 crore in Tamil Nadu. The announcement was made at the Tamil Nadu Global Investors Meet 2019.

For the marketing division investment, R Sitharthan, executive director and head for IndianOil (Tamil Nadu & Puducherry), signed an MoU with the state government for an investment of `7,941 crore in the next five years.

If the Congress hopes to regain lost ground in Uttar Pradesh by bringing Priyanka Gandhi into active politics, political adversaries claim she will have no impact on the crucial state ahead of the Lok Sabha polls.Her appointment Wednesday as Congress general secretary for Uttar Pradesh East was dubbed a non-starter by the state BJP head Mahendra Pandey.

India's Tata Consultancy Services (TCS) has been ranked third most-valued IT services brand globally in 2018-19, after Accenture and IBM, according to a report by Brand Finance.Four Indian IT services companies -- TCS, Infosys, HCL and Wipro -- clinched spots in the top-10 global tally.

The central government has decided to frame a rule that would mandate regulators and other autonomous bodies to transfer surplus funds to the exchequer, said two government sources privy to the development. The new guideline is expected to come in a month.

The move would make the Securities and Exchange Board of India (Sebi) and a dozen other regulators, such as the Insurance Regulatory and Development Authority of India (Irdai) and the Pension Fund Regulatory and Development Authority (PFRDA), to shell out a significant portion of their reserves into the Consolidated Fund of India.

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