Companies may find it difficult to get corporate credit from State Bank of India (SBI) with the bank focusing on public sector undertakings like oil companies and investment grade firms to control its non-performing assets (NPAs) which have hit Rs 2.23 lakh crore, constituting 10.91% of its total advances. Instead, the bank will focus on retail loans which it expects it to grow to 60% of its total advances.

The government is in dilemma over Air India privatisation and is rightly re-tweaking the details after couple of bidders pulled out. However, at the same time the government is being prudent as aviation secretary R N Choubey now says that the national carrier may not be sold if they do not get the right price.

Capital market regulator Securities and Exchange Board of India (Sebi) on Thursday allowed ‘omnibus’ trades at the Gujarat International Finance Tec-city (GIFT City), India’s only international financial service centre (IFSC). An omnibus structure allows an investor trade through a broker or service provider with confidentiality. Such structures are allowed at major jurisdiction worldwide.

Tata Consultancy Services (TCS) , the country's biggest software services exporter, saw its market capitalisation (market-cap) cross Rs 7-trillion mark, adter the stock price of the company hit a new high of Rs 3,668 on the BSE in early morning trade.

At 09:19 am; TCS was trading 1.7% higher at Rs 3,666 have market-cap of Rs 7.91-trillion, the BSE data shows.

The government is likely to levy a ‘windfall tax’, in the form of a cess, on companies like Oil and Natural Gas Corporation (ONGC) and Oil India (OIL) to bring down the rising petrol and diesel prices. The move may add additional pressure to oil producers that were already paying a higher cess after the switchover of fixed amount to 20 per cent ad valorem rates in 2016.

Looking to capture the West India market, fast-moving consumer goods-major Wipro Consumer Care and Lighting has launched its liquid-based dish wash in Maharashtra, the largest market for dishwashing liquids in India.

The company plans to launch the product, Giffy, pan India in the months to come to capture the liquid dish wash market which is estimated to be Rs 4 billion.

Oil and Natural Gas Corporation (ONGC) dipped 5% to Rs 166, extending its previous day’s nearly 5% fall on BSE, after the media report suggested that the government may ask the company to share the burden to reduce fuel price.

In past two trading session, the market capitalisation of state-owned oil exploration & production company declined by Rs 223-billion to Rs 2,148-billion, the BSE data shows. The stock hit eight month low, trading at its lowest level since September 26, 2017.

NEW DELHI: Prime Minister Narendra Modi has an oil problem. And it’s set to worsen with Saudi Arabia rooting for the commodity to push through the $80 barrier.

Modi’s government made the most of cheap oil by substituting any fall in prices with taxes that kept retail fuel rates unchanged for consumers and boosted the federal revenue.

Idea has introduced a new prepaid recharge pack worth Rs 499 for its customers to up the game against the incumbents such as Jio, Airtel, Vodafone, and BSNL. The new Idea Rs 499 prepaid recharge offers the customers calling and data benefits for a validity of 82 days. The company has made this recharge pack available under the Unlimited Recharge line of tariffs across many circles.

Mumbai: Reliance Industries Ltd (RIL) has made an investment of Rs10 crore in KareXpert Technologies Pvt. Ltd, an early-stage digital healthcare technology platform, two people aware of the matter said.

The investment was made by RIL’s subsidiary and investment arm, Reliance Industrial Investments and Holdings Ltd (RIIHL).

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