The Life Insurance Corporation of India (LIC), which holds about a 9.4 per cent stake in ICICI Bank, and the government’s new nominee on the private lender’s board have called a meeting of the bank’s top management this week. This comes against the backdrop of the recent developments in the ICICI Bank-Videocon case and declining investor confidence.

Shikha Sharma, Axis Bank managing director and chief executive officer (MD & CEO), has decided to step down. She was to start her fourth three-year term on June 1.

The move comes in the wake of the Reserve Bank of India (RBI) asking the private sector lender’s board to reconsider its decision to reappoint Sharma for a three-year term starting June.

He has made an audacious gamble and catapulted himself as the undisputed king of the cricket media business. But the question is whether STAR India boss Uday Shankar (pictured) has overpaid for the cricket media rights and taken a huge risk to get top position.

Last week Shankar grabbed the BCCI (Board of Control for Cricket in India) rights for the international bilateral matches held at home for five years by forking out a staggering Rs 61.38 billion, which is 60 per cent more than what it paid for the same rights earlier.

Consumer goods major ITC on Monday presented a revised ad campaign for its BNatural juice brand in the Delhi High Court following a suit filed by rival PepsiCo India last week.

An ITC spokesperson, however, said that the changes were an “interim arrangement” and that the company would file detailed objections to PepsiCo's suit and petition later.

The previous financial year (FY18) belonged to Tata Motors in more ways than one. The country’s biggest commercial vehicle maker reclaimed leadership position in the light commercial vehicle (LCV) space from rival M&M after a gap of two years. Besides, the Mumbai-headquartered company also overtook Japanese car maker Honda to occupy the fourth spot in the domestic passenger vehicle market.

The Securities and Exchange Board of India (Sebi) on Monday issued new measures to provide “fair and equitable access” to the colocation facilities offered by the bourses.

The market regulator directed all exchanges to provide “managed colocation services”, under which small brokers get access to colocation services without having to rent the entire space or rack. Currently, the service is largely out of bounds for small traders due to high cost and lack of technical know-how.

Not many of us are used to buying mutual funds using our smart phones, even though there are some apps that facilitate this. But with Paytm, one of India’s largest mobile wallets, set to enter mutual fund distribution in a month’s time, many of us (Paytm claims to have around 300 million customers) would be able to buy mutual funds with a tap of a button. On 5 April, Mint carried a story on what Paytm could offer.

Mumbai:State-run Bharat Petroleum Corporation Ltd (BPCL) is planning to hive off its gas business into a separate wholly-owned subsidiary, two people aware of the development said.

BPCL, which is present in various segments of natural gas sales and supply, has been strengthening its gas business over the past few years.

Mumbai: L&T Technology Services Ltd has bagged a multi-million deal from ExxonMobil Exploration Company, which will deliver revenues of $20 million in the first year, the L&T arm said Monday.

The company, a listed subsidiary of Larsen & Toubro Ltd (L&T), will help geoscientists with improved data availability, enhancing the speed and efficiency of analysis and evaluation, it said in a statement.

NEW DELHI: Looking to recover over Rs 7,000 crore of investors' money, markets regulator Sebi will next month auction 24 properties of Pancard Clubs and its late chairman and managing director at a total reserve price of nearly Rs 2,100 crore.

This is in addition to at least 33 properties which were auctioned between December and March with combined reserve price of more than Rs 800 crore.

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