Russia’s VTB, the majority partner in the Numetal consortium, has moved an application in the Supreme Court seeking permission to bid solo for Essar Steel.

VTB has also informed the committee of creditors (CoC) for Essar that it has moved the apex court. The move is based on the Supreme Court’s order, which said that VTB was an eligible candidate.

Bandhan Bank on Friday received exemption from the Securities and Exchange Board of India (Sebi) on one-year lock-in period for selling shares by promotors. This will enable the bank to comply with the Reserve Bank of India's (RBI's) licensing guidelines for new private sector banks. Effectively, this entails that Bandhan Bank can now sell promoters’ shares before March 2019.

The Union Ayush Ministry’s bid to rope in Public Sector Units (PSUs) to open hospitals exclusively providing traditional systems of medicine including Ayurveda across the country has started delivering results.

In a first, and what can be called as a shot in the arm for the Ministry, the Government’s Navratna, National Thermal Power Corporation (NTPC) has agreed to set up Ayush centres in five cities —Kayamkulum in Alappuzha district of Kerala

GMR Infrastructure on Thursday said its arm Kakinada SEZ had inked a pact with Andhra Pradesh Gas Development Corporation (APGDC) for supply of piped natural gas.

“Kakinada SEZ, a subsidiary of GMR Infra, signed an MoU with APGDC to get access to piped domestic natural gas for its upcoming 10,500-acre zone,” the company said in a filing to BSE.

Bengaluru: After less than two days into the festive season sale, India’s top online retailers Flipkart and Amazon have claimed record-breaking numbers and indicated that their sales during the first two days have already surpassed the overall sales that they generated during the entire five-day sale last year.

Mumbai: Tata Motors Ltd is working on plans to revamp its entire dealership network as it seeks to bolster attempts to stage a turnaround in its passenger vehicle business in India, said a senior company executive.

The nationwide revamp will commence next year because the Mumbai-based auto maker feels its current showrooms are not equipped enough to handle its latest range of cars and sport-utility vehicles (SUVs) including those set to be launched in the future.

Punjab National Bank (PNB) sold non-performing credit card outstandings worth over 3% of its portfolio in the category in September, according to people aware of the development. Outstandings worth Rs 8.77 crore were put on sale out of a total outstanding of Rs 280 crore in the credit card segment.

It could not be immediately ascertained who bought the portfolio and at what price.

Paytm Mall is offering cashback deals and discounts on the latest range of Sound Systems and Accessories. Under its ongoing Maha Cashback Sale, Paytam Mall is offering up to Rs 5,000 cashback on in-demand Headphones and Speakers from JBL, Sony, Apple, and Samsung. Customers can also avail an additional 10% cashback (up to Rs 2,500) on purchases made via ICICI Bank Credit and Debit Cards.

The BSE benchmark Sensex staged a strong comeback by recovering over 600 points in opening trade Friday following fresh purchases made by domestic investors ahead of key macroeconomic data to be released later in the day, fall in global crude prices and rupee recovery.

The government on Thursday extended the term of P S Jayakumar as the managing director and chief executive officer of Bank of Baroda by another year till October 12, 2019. His three-year term was to end on Friday.

The extension is being seen as an important move aimed at steering the proposed merger of Bank of Baroda (BoB), Vijaya Bank and Dena Bank. The boards of the three public sector banks have already given the nod for the merger proposal.

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