Mumbai: State-owned Vijaya Bank, Dena Bank and Bank of Baroda have set 15 December as the deadline to agree a preliminary share swap ratio for the combined entity, said Sankara Narayanan, managing director and chief executive officer, Vijaya Bank.

On 10 September, the government proposed to merge the three state-owned banks.

MUMBAI: Vodafone Idea, India’s newest and largest telecom operator, will on November 14 announce its first results since its inception, with analysts predicting a sizeable loss in its fiscal second quarter ended September 30, dragged down by low subscriber additions and rising 4G network expansion costs.

Cipla has entered into an agreement to acquire US-based specialty pharma company Avenue Therapeutics Inc for $215 mn or around Rs 15.6 bn. This is in line with Cipla's strategy of building a specialty drugs pipeline in the US.

Cipla's US subsidiary InvaGen Pharmaceuticals Inc will make the acquisition in two stages, the company said.

Mumbai: The benchmark indices turned choppy in morning trade Tuesday and oscillated between gains and losses, driven by better-than-expected macro economic data and fresh foreign fund inflows amid global sell-off.

The 30-share index fell over 140 points in opening trade but soon recovered the lost ground to quote higher by 46.12 points or 0.13 per cent at 34,859.11.

Higher sales and a better realisation have powered the earnings of Coal India for the quarter ended September 30, 2018. The consolidated net profit of the public sector miner for the quarter was Rs 3,084.70 crore against Rs 370.43 crore in the corresponding quarter previous year.

Amazon.com Inc has selected New York City and Northern Virginia as the company’s second and third headquarters, the Wall Street Journal reported.An announcement could come as soon as Tuesday, the newspaper reported, citing unidentified people familiar with the plan. Other cities may get major sites from the company, the newspaper said.

South Korean automotive manufacturer Hyundai will be investing ₹7,000 crore to expand its facility at Sriperumbudur, near here, and to make new models and electric vehicles, chief executive officer and managing director of its Indian subsidiary, Hyundai Motor India Ltd., Y.K. Koo, said here on Monday.

After putting it on the back-burner for the last three years, the Telecom Regulatory Authority of India (Trai) on Monday finally came out with a consultation paper examining whether over-the-top players (OTT) like WhatsApp can be brought under licensing and regulation. In a belated move, the regulator has indicated that services like calling, messaging, etc, by WhatsApp, which are similar to the services provided by the telecom operators, can be brought under licensing and regulation.

PNB Housing Finance (PNBHFL) on Monday said it has received a long-term loan sanction of Rs 3,500 crore refinance facility from National Housing Bank. The facility will help PNBHFL boost liquidity as well as improve its asset-liability profile.

In FY18, PNBHFL had accessed Rs 1,500 crore refinance from NHB. NHB’s refinance constituted 7.83% of PNBHFL’s source of funds in FY16, before coming down to 5.36% on September 30, 2018.

Ashok Leyland, a Hinduja Group flagship, is betting big on the electric vehicle (EV) front. The company is gearing up to launch at least four EV products in 2019, including a bus, a light commercial vehicle (LCV), a last-mile connectivity product and a medium vehicle.

The company also hinted at its entry into the ‘shared transit’ model on global lines with an electric disruptive vehicle which will be for both urban and rural markets.

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