The Sebi on Tuesday proposed a three-phase process for re-classification of promoters as public shareholders. In the first stage, the concerned promoter shareholder or the company will have to file an application to the stock exchange requesting re-classification. In the next stage, the request will go to the board of directors.

The board will then provide its recommendation, which will be placed before the shareholders.

Four persons of India-origin, including three women, have been named by Fortune among 40 of the most influential and inspiring young people in business under the age of 40.

Instagram Cofounder and CEO Kevin Systrom and Facebook founder Mark Zuckerberg, both 34, are tied for first place on the Fortune '40 Under 40' list.

Bank finance to the gem and jewellery sector has declined by at least 10 per cent, which will adversely impact exports, GJEPC cautioned in a report. The apex body of the gems and jewellery trade in its report today also estimated that the exports in the current fiscal year will see a drastic drop of 10 per cent.

The bruising telecommunications price war unleashed by the entry of India’s richest man into the sector may continue for at least a year or as long as it takes Reliance Jio Infocomm Ltd. to nearly double its user base.

Ambani’s telecom unit will strive to double subscribers to 400 million before raising prices, Kunal Agrawal, a Hong Kong-based analyst with Bloomberg Intelligence said in an emailed response to questions.

The Supreme Court on Wednesday said the government’s stand on completing the appointment of Lokpal, an ombudsman to protect the common man from corruption in public service and power centres, is “wholly unsatisfactory.”

The court was reacting to an affidavit filed by the government, the stated aim of it being to specify the exact time frame by which it would appoint the Lokpal. Instead, the government, represented by Attorney-General K.K. Venugopal, said it is a “complicated” process.

Shares of L&T Technology Services (LTTS) have rallied 14% to Rs 1,485 per share on the BSE in early morning trade after the company reported a more-than-double net profit of Rs 1,981 million in June quarter (Q1FY19). The L&T group company had profit of Rs 980 million in the year ago quarter.

Four commuters who were travelling on the footboard of a Chennai suburban train were killed, and several others were injured on Tuesday, when they hit the concrete fence at St. Thomas Mount station.

The incident occurred at about 8:45 am when the Tirumalpur-bound slow train was heading towards the Platform number 3 of Thomas Mount station. Many commuters were travelling on the footboard of the overcrowded train during the rush hour.

In a first towards bringing in transparency in political funding in India, political parties have redeemed electoral bonds worth Rs 427.3 crore, of the total 980 electoral bonds worth Rs 438.30 crore issued by SBI (State Bank of India) in the first three phases of the sale of such bonds.

Even as market pundits try to decode the reaction of Sensex and Nifty to political uncertainties, ace investor Rakesh Jhunjhunwala is confident on PM Modi winning the 2019 elections. In an interview to ET Now, Rakesh Jhunjhunwala said that the stock markets are currently bearish about the BJP’s prospects. “I personally feel we are far more bearish about the BJP prospects than the actual reality…I would want that Mr Modi comes back. This election is going to be fought on personalities.

German luxury automaker BMW today said it has appointed its India head Vikram Pawah as CEO of BMW Group Australia and New Zealand with effect from August 1.

Pawah (47) has additionally been promoted as the Chairman of BMW Group India and will remain committed to the Indian market in his expanded role, BMW Group India said in a statement.

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