State Bank of India (SBI) has completed the sale of its Rs 2,261-crore exposure to Bombay Rayon Fashions (BRFL) to JM Financial Asset Reconstruction Company (ARC) for Rs 900 crore, according to persons familiar with the development.

The lender has taken a 40% haircut on the transaction but is hoping for an upside from its 29% equity stake in the company. SBI has received Rs 840 crore in cash while the remaining Rs 60 crore is in the form of security receipts redeemable over three years.

India's long-neglected retail market is turning into one of the world's hottest thanks to Warren Buffett, Jeff Bezos and a frenzy of billion-dollar dealmaking.

Walmart Inc just wrapped up a $16 billion agreement for control of the country's leading e-commerce player, Flipkart Online Services Pvt, while Bezos' Amazon.

The Kishinchand Chellaram College, usually bustling with students, resembled a heavily-guarded fort ahead of the annual general meeting (AGM) of ICICI Securities on Thursday. Here, shareholders were to decide whether Chanda Kochhar should continue to serve on the board of the broking and investment banking firm.

Shares of YES Bank hit an 8-week low of Rs 338 per share, down 7% in early morning trade on the BSE on the back of heavy volumes.

YES Bank on Thursday after market hours said it has received the Reserve Bank of India’s (RBI's) approval for the continuance of Rana Kapoor as managing director and CEO of the bank till further notice from the central bank.

Markets regulator Sebi today imposed a total penalty of Rs 11 lakh on four entities for violating insider trading norms.

The Securities and Exchange Board of India (Sebi) has levied a fine of Rs 4 lakh on Kisan Mouldings, Rs 2.5 lakh each on Surinder Jagannath Aggarwal and Polsons Traders LLP and Rs 2 lakh on Surinder Jagannath Aggarwal HUF.

New Delhi: Punjab National Bank, Ind­ia’s second largest lender, which has Rs 6,000 crore of power NPAs has decided to take the insolvency (IBC) ro­ute to resolve the issue, said an official.

It indicates that PNB will go for the NCLT route of recovery rather than debt restructuring with companies.

Mumbai: In volatile trade, the benchmark BSE Sensex hit a new life-time high of 38,989.65, extending its record-setting spree for a third session on buying by domestic investors amid short-covering ahead of August futures and options (F&O) expiry and mixed Asian cues.

The 30-share index rose by 93.02 points, or 0.23 per cent, to hit a new high of 38,989.65, bettering its previous intra-day record of 38,938.91 hit on Tuesday.

Mumbai: Indian Oil Corp. Ltd, the country’s largest oil marketing company, has sought shareholder approval to raise up to 20,000 crore through a private placement of debentures in 2018-19, said two people aware of the development.

The company plans to approve issuance of debentures through private placement at its annual general meeting on 29 August, it said in its annual report for 2017-18.

New Delhi: In the first week of February Paytm’s founder and chief executive officer Vijay Shekhar Sharma met board member Mark Schwartz in Canada. Schwartz, who’s also on the board of SoftBank Group Corp., had a proposal for him. Schwartz wanted to introduce Sharma to the world’s most renowned investor, Warren Buffett’s Berkshire Hathaway Inc.

With cash crunch likely to continue in Air India (AI) due to rising fuel costs, the Centre may infuse additional Rs 2,200 crore in the debt-ridden national carrier later in the current financial year to meet an estimated shortfall in working capital requirement to service loans and pay salary in time.

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