Promoters of Kotak Mahindra Bank, led by MD & CEO Uday Kotak, reduced their stake in the private sector lender to 19.7 per cent after the bank issued preference shares worth Rs 5 billion to investors. Before the issue, promoters held 30.03 per cent in the bank.

The bank issued one billion non-convertible perpetual non-cumulative preference shares (PNCPS) of a face value of Rs 5 each to investors on Thursday.

Larsen & Tourbo (L&T) on Thursday divested its stake in L&T Technology Services to comply with the 25 per cent minimum public shareholding requirement. The engineering giant is offering up to 6.6 million shares, representing 6.6 per cent stake, through the so-called offer for sale (OFS) route.

So far, the offering has garnered bids for 5.34 million shares from institutional investors.

State-owned CIL today said it produced 177.43 million tonnes of coal in the first four months of the ongoing fiscal, registering a growth of 14 per cent. It had produced 155.53 million tonnes (MT) of coal in the year-ago period, Coal India Ltd said in a filing to BSE. In July CIL produced 40.56 MT coal, against 36.69 a year ago. The state-owned firm accounts for over 80 per cent of the domestic coal production.

Imran Khan has decided against inviting foreign leaders and celebrities to his oath taking ceremony as Pakistan's new prime minister as he wants to keep the event very simple, according to a media report.

Khan's Pakistan Tehreek-i-Insaf (PTI) emerged as the single largest party in the elections held on July 25. The 65-year-old leader is expected to take oath on August 11.

NHAI will on Friday ink a pact with State Bank of India (SBI) for a long-term unsecured loan to the tune of Rs 250 billion.

This is SBI's highest long-term unsecured loan to any entity and also the largest ever loan sanctioned to NHAI.

Mumbai/Delhi: ICICI Bank Ltd is yet to reply to a notice by the Securities and Exchange Board of India (Sebi) seeking clarifications on the disclosure of price-sensitive information, the bank said in a filing made to the US Securities and Exchange Commission (SEC) on Monday.

The markets regulator is investigating whether ICICI Bank and its chief executive officer, Chanda Kochhar

New Delhi: Kotak Mahindra Bank will raise up to 500 crore by issuing preference shares on a private placement basis.

The non-convertible preference shares (NCPS) issuance committee of the board of directors of the bank on Wednesday resolved to approved the issue of perpetual non-cumulative preference shares on a private placement basis aggregating to an issue size of up to 500 crore, Kotak Mahindra Bank said in a regulatory filing.

Sales of passenger vehicles in July by the country’s top two manufacturers Maruti Suzuki India and Hyundai Motor skidded with the former seeing a decline of 0.6% compared with the same month last year and the latter seeing an incremental growth of 1.1%. However, the automakers said this was due to the recalibration done last year in the run-up to the implementation of the goods and services tax (GST) and had nothing to do with the underlying sentiments in the market and would normalise from August.

Mahindra electric KUV100 (eKUV 100) SUV will be the first ever all-electric SUV to be launched in India with its launch scheduled in May/June 2019. Earlier in 2017, Dr Pawan Goenka had confirmed KUV100 going all-electric and the SUV was also showcased at the Auto Expo 2018. Mahindra Electric is currently the only automaker in India to commercially sell electric cars in India with the sale of Mahindra E20 Plus and Mahindra e-Verito.

NEW DELHI: ONGC stock advanced 1 per cent on Thursday ahead of its first quarter results later in the day.

Oil subsidy expectations, management guidance on oil and gas production over FY19 and FY20 and earnings and production outlook of OVL, ONGC's subsidiary, for FY19 will be keenly watched.

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