Shares of public sector undertaking (PSU) banks continued their upward journey with Nifty PSU Bank index hitting a four-month high on Tuesday on the expectation of decline in bad loans.

Nifty PSU Bank index, the largest sectoral gainer, was up 2.6% at 3,192 levels, trading at its highest level since September 6, 2018, on the National Stock Exchange (NSE). In comparison, the Nifty Bank and Nifty Private Bank index were up 0.6% each, while the benchmark Nifty 50 index was up 0.32% at 02:19 pm.

Shares of ICICI Bank hit a record high of Rs 375.40 apiece on BSE, up 2 per cent in the intra-day trade on Tuesday.

The stock surpassed its previous high of Rs 375.25 touched on November 16, 2018, in an otherwise subdued market today.

New Delhi: Shares of Tata Motors Ltd rose nearly 3% on Tuesday after the company’s UK subsidiary Jaguar Land Rover Plc reported 16.23% increase in its sales in India in 2018.

Tata Motors shares gained 2.34% to ₹179.35 apiece on the BSE after surging 2.99% to ₹180.50 intraday. On the NSE, the stock closed 2.62% higher at ₹179.95.

TVS Motor Company Chairman Venu Srinivasan has said that the Goods and Services Tax (GST) rates for two-wheelers should be reconsidered, especially at a time when the new safety norms and fuel norms are expected to increase the prices of such vehicles.

Rising urbanisation, increasing purchasing power and the enhanced need for connectivity particularly in mid-sized and smaller cities across India, have fuelled the two-wheeler revolution for personal mobility.

Public sector energy generation major NTPC Limited has planned to invest almost Rs 10,300 crore in Greenfield power plants in Uttar Pradesh.

These plants include a proposed 1,600 megawatt (Mw) (2x800) thermal power project at Shaktinagar (Singrauli) in Sonebhadra district of UP. This project is estimated to entail investment of Rs 9,000 crore, NTPC Regional Executive Director (North) Kamlesh Kumar Singh has said.

The Narendra Modi-led central government is seeking at least Rs 23,100 crore in interim dividend from the Reserve Bank of India (RBI) before March 31, as it looks to meet an increasingly difficult fiscal deficit target of 3.3 per cent of the gross domestic product (GDP) for 2018-19 (FY19).

Bengaluru: Another top-level executive of India's second largest software services company, Infosys has tendered his resignation after close to a two decade-long stint.

Sudip Singh, the global head of the energy, utilities, resources and services unit of Infosys has quit the company.

The benchmark BSE Sensex opened lower on Tuesday as investors booked profits in recent gainers amid mixed Asian cues and a rebound in crude oil.

After two sessions of gains, investors cashed profits in banking, auto and power shares that dragged down key indices.

Amazon.com Inc. surpassed Microsoft Corp. to become the world’s largest public company on Monday, in the latest example of the list of Wall Street’s biggest names being reordered. Shares of the e-commerce company rose 3.4 percent, a rally that gave it a market capitalization of $797 billion, according to Bloomberg data. While this is down from Amazon’s record market cap, which topped $1 trillion in September, it was enough to push it past Microsoft at $789 billion.

The Supreme Court on Monday asked Reliance Communications (RCom) and Reliance Jio Infocomm (RJio) to resolve among themselves as to who will pay the past liabilities of the former, once the spectrum trading deal between the two is cleared by the government. The court said this after Reliance Jio refused to give an undertaking that it will pay dues of the former, if any came to light, once the trading deal was through.

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