As many as 15 people, who were borrowers in the Rs 600 million SBI loan scam in Virudhanagar and Theni districts of Tamil Nadu, have died under suspicious circumstances in the last six months, The Times of India reports. Another borrower has gone missing.

According to the ToI report, police has confirmed that all those found dead were from Virudhnagar and nearby villages and had loans in their name, however, there has not been a probe into these deaths.

Nashik: Mahindra and Mahindra Ltd is exploring the feasibility of entering emerging markets such as Indonesia and Russia in partnership with Ford Motor Co. “We are exploring various aspects with Ford; manufacturing, sourcing, engineering or even on the retail front. But things are at a very initial stage (in these markets) to conclude what aspect we will be partnering on,” said Mahindra managing director Pawan Goenka.

Mumbai: Tata Consultancy Services Ltd’s (TCS) market cap surged past the 8 trillion mark for the first time today, making it only the second Indian company after Reliance Industries Ltd (RIL) to achieve the milestone. TCS share price rose 1.7% to a record high of 2091 on the BSE today, imparting the IT bellwether a market cap of 8.01 trillion. Of the 50 brokers tracking the TCS stock on Bloomberg, as many as 22 recommend a “buy” rating, eight “sell” the stock 20 a “hold” rating.

The ICICI Bank raised its marginal cost of funds-based lending rates (MCLRs) by 15-25 basis points (bps) across tenures, following a similar move by larger rival State Bank of India (SBI). The one-month MCLR at ICICI Bank now stands at 8.55%, 15 bps higher than earlier, and 10 bps more than the corresponding rate at SBI.

Q1 PAT (Ind AS) rose 18.4% y-o-y to Rs 5.7 bn vs our Rs 5.4 bn est. (GAAP). Loan growth was muted and NIMs fell y-o-y, but this was offset by lower opex as per Ind AS. Asset quality disappointed.

We trim FY19-20e EPS by 1-2%. Spreads should improve q-o-q, but sharp increase appears unlikely. Competition may continue to weigh on AUM growth. Proj. loans have aided growth, but slippage remains high in this segment.

ITC is on a war footing. The Kolkata-based diversified conglomerate, which aims to garner revenues of Rs 1 trillion from non-cigarettes fast-moving consumer goods (FMCG) business by 2030, is preparing to venture into at all possible products categories. It is also exploring mergers and acquisitions.

Telecom major Vodafone Idea Limited Monday raised Rs 15 billion fund through non-convertible debentures on private placement basis -- first debt after its incorporation.

"The Securities Allotment Committee have at their meeting held today i.e. on September 3, 2018, allotted 15,000 unsecured redeemable non-convertible debentures aggregating to Rs 15 billion on private placement basis," Vodafone Idea said in a regulatory filing.

Shares of Larsen & Toubro (L&T) Infotech surged 7% to Rs 1,888 on the BSE in early morning trade on Tuesday after the company’s offer for sale (OFS) on Monday got a strong response from the institutional investors. The stock was trading close to its 52-week high of Rs 1,911 touched on August 21, 2018, on the BSE in intra-day trade.

Shares of Infosys hit a new high of Rs 737, up 3% (adjusted to bonus issue) on the BSE. The stock of the country's second-largest information technology (IT) services company is trading ex-date for 1:1 bonus issue.

The board of directors of Infosys has fixed Wednesday, September 5, 2018, as the record date for the purpose of allotment of bonus shares/stock dividend.

With a lobby of FPIs trying hard to get the proposed changes to KYC norms withdrawn, market regulator Sebi Tuesday said it is "preposterous and highly irresponsible" to claim that $75 billion will move out of India because of the regulatory move.

Some foreign portfolio investors (FPIs) are believed to have earlier expressed concerns over the proposed changes in rules, for which Sebi has already granted more time.

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