Shares of Wipro fell 5 per cent to Rs 256 in intra-day trade on the BSE in after huge block deals were executed on the counter.

Till 11:22 am, a combined 57.86 million equity shares, representing 1.3 per cent equity, of Wipro had changed hands on the National Stock Exchange (NSE) and BSE.

The name of the buyer and sellers could not be ascertained immediately.

Air India is incurring a loss of around Rs 3 crore daily on its Europe, US flights due to the closure of Pakistan airspace, a senior airline official said on Thursday. Last Wednesday, Pakistan closed its airspace to all overflying flights forcing airlines from India and other nations to take a detour. This has led to increase in flight duration and has put a strain on Mumbai’s air traffic controllers, who are working extra shifts to handle the increase in traffic.

A five-judge Bench led by Chief Justice of India Ranjan Gogoi sent the Ayodhya dispute for mediation in a bid to heal minds and hearts "if possible".

The Supreme Court on Friday appointed a panel of mediators, including former apex court judge, Justice F.M.I. Kalifulla, as Chairman, spiritual leader Sri Sri Ravi Shankar and senior advocate Sriram Panchu, a veteran lawyer with years of experience in alternative dispute resolution.

Shares of Arvind Fashions locked in upper circuit of 5 per cent at Rs 621 apiece on the BSE on Friday. The stock of Lalbhai Group’s company opened at Rs 592 on first day of its listing.

The stock listed and admitted to dealings on the Exchange in the list of 'T' group securities. The T group represents scrips which are settled on a trade-to-trade basis as a surveillance measure.

National carrier Air India will be flying 12 international flights as well as 40-plus domestic flights with an all-women crew on Friday, Women's Day.

Air India will be deploying its B787 Dreamliners and B777s aircraft to operate to 12 international medium and long-haul flights solely operated exclusively by women pilots and attended by women cabin crew.

In a major relief to manufacturers, distributors, marketers and direct sellers of consumer products, the government on Thursday clarified the extent of tax liability and the eligibility of input tax credit on promotional offers such as free samples and buy one, get one free.

Industry players were apprehensive about incre­ased litigation from tax audit authorities if they marketed their products as free, beca­use of ambiguity on such offers.

The rupee opened 17 paise lower at 70.17 against the US dollar on Friday amid weak global cues after the European Central Bank (ECB) slashed its growth forecasts and launched an emergency round of policy stimulus.

The domestic unit ended 28 paise higher at 70 on Thursday amid robust foreign inflows and strong buying in domestic equities. It was the third straight session of gain for the domestic currency, during which it has strengthened by 92 paise.

L&T Finance Holdings on Thursday announced early closure of its bond issue following a 4.5 times oversubscription, raising a little over Rs 2,228 crore.

The issue was opened on March 6 and was scheduled to close on March 20. The base size of the issue was Rs 500 crore, with an option to retain over-subscription up to Rs 1,000 crore.

Indian entrepreneurs have to move away from being reactive problem solvers to proactive problem solvers as there are so many problems around, Infosys founder N R Narayana Murthy said. The renowned IT industrialist also highlighted areas of opportunities in sectors such as healthcare for entrepreneurs to build unique solutions.

Infrastructure giant Larsen & Toubro (L&T) Thursday said its construction arm has bagged "large" contracts from multiple clients in the domestic market.

The engineering and construction company, however, did not provide the exact value of the contract; but as per its project classification, the value of the contracts were in "large" category which is in the range of Rs 2,500 to Rs 5,000 crore.

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