New Delhi: State-owned CIL on Thursday said its board has approved second interim dividend of Rs 5.85 per equity share for the fiscal 2018-19.

"The board of directors in its meeting on March 14, 2019 approved payment of 2nd interim dividend for the financial year 2018-19 @ Rs 5.85 per share of the face value of Rs 10 as recommended by the audit committee of CIL in its meeting held on date," the PSU said in a filing to BSE.

Mumbai: The BSE benchmark Sensex jumped over 200 points and the NSE Nifty reclaimed the 11,400 level on Friday, tracking by gains in banking, auto and IT stocks amid unabated foreign fund inflow, strengthening rupee and positive global cues.

The 30-share index was trading 240.83 points, or 0.64 per cent, higher at 37,995.72, while the 50-share NSE Nifty climbed 74.90 points, or 0.66 per cent, to 11,418.15.

Pune: Mercedes-Benz, India’s biggest luxury car maker by sales on Thursday introduced the new Mercedes-AMG C43 Coupe, a performance car, to boost sales in Asia’s third biggest economy.

Priced at Rs 75 lakh at pan India showroom, the Mercedes-AMG C43 Coupe at present competes with its only rival the BMW M2 Competition costing Rs 79.90 lakh.

Top executives of Oil and Natural Gas Corporation (ONGC) and bureaucrats within the government have successfully thwarted an attempt by the Niti Aayog to privatise the country’s largest oil and gas producing fields, including those in the famed Bombay High and Vasai East.

Mumbai: Lenders to bankrupt Essar Steel Ltd are considering increasing a payout to Standard Chartered Plc to expedite the sale of the company to ArcelorMittal, according to people with knowledge of the matter.

The move by the lenders is part of an attempt to complete Essar Steel's sale by the end of March, the people said asking not to be named as the information is not public.

A consortium of lenders led by Bank of Baroda (BoB) has put on sale their exposure to Garden Silk Mills on a 100% cash basis, according to a bid document. As on February 21, the company owed Rs 2,311 crore to banks. All bank facilities of the textile manufacturer are in the default category.

“The highest bid may be further negotiated with the bidder. The lenders will have right for inter-se bidding/ Swiss challenge/ e-auction between the bidders,” the document said.

First-year premium of life insurance companies between April 2018 and February 2019 grew 7.6% to Rs 1.77 lakh crore against Rs 1.64 lakh crore during the corresponding period in the previous financial year.

Private players continued to grow faster at 22.31% compared to state-run Life Insurance Corporation of India (LIC) which posted a growth of only 1.39% during the period, showed data from the Insurance Regulatory and Development Authority of India (Irdai).

We had downgraded L&T Infotech (LTI) post Q3FY19 results (Limited catalysts for re-rating) given client-specific issues, peak margins and near full valuation. Stock is since down ~9%, which appropriately captures our concerns. NIFTY IT index is up 4% in comparison. We also see it less likely for any stake acquisition in Mindtree, if at all, to happen from LTI’s balance sheet. As a result, we upgrade the stock to ‘Buy’, with a revised target price of rS 1,905 based on 18x FY21E EPS.

State-owned telecom firm BSNL plans to raise Rs 5,000 crore through soft loans immediately in order to meet its operational expenses.

Department of Telecommunications (DoT) has given a letter of comfort to the cash-starved BSNL for raising loans, which is a guarantee from the government.

In a major step towards income-tax proceedings becoming completely faceless, the Income Tax Department under the finance ministry will launch a new mechanism to verify taxpayers' returns shortly.

A notification in this regard was issued by the finance ministry on Wednesday.

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