UltraTech Cement on Wednesday said it has received the go-ahead of the Competition Commission of India (CCI) on its bid for Binani Cement and added that this proves that apprehensions of the resolution professional (RP) were “unfounded” and that the company was “wrongly” and “unjustifiably” rated as the second-highest bidder. In a statement issued on Wednesday, UltraTech Cement said, “A lot of apprehensions were raised by the resolution professional about UltraTech obtaining the CCI clearance on its bid for Binani Cement.

State Bank of India (SBI) on Wednesday raised interest rates on retail and bulk fixed deposits of some maturities by between 10 bps and 25 bps.

The rate on deposits of under Rs 1 crore maturing between two years and three years was raised by 10 bps to 6.6% and that on deposits maturing between three years and five years was hiked by 20 bps to 6.7%. Retail deposits of longer maturities will now yield 6.75%, 25 bps more than earlier. The rate on one-year retail deposits was left unchanged at 6.4%.

The BSE Sensex slumped 206 points in see-saw trade today to close below the 33,000-mark on the last trading session of 2017-18 but finished the fiscal with a gain of 11.30 per cent.

Besides weak global cues, squaring-up of bets by investors due to end of March month expiry in the derivatives segment halted its two-session winning run, brokers said.

The Securities and Exchange Board of India (Sebi) on Wednesday tightened the derivative markets framework to curb the excessive speculation and prevent small investors from entering the high-risk space. The market regulator, at its board meeting held on Wednesday, also accepted majority of the recommendations made by the Uday Kotak Committee on corporate governance but deferred decision on key proposals such as one on sharing of information with promoters.

The government will divest 76 per cent stake in Air India, according to the information memorandum on the airline’s proposed stake sale released on Wednesday. The sale will include Air India's shareholding in low-cost Air India Express and its joint venture ground handling subsidiary AISATS.

Bidders must have a minimum net worth of Rs 50 billion and net profit for three preceding years. However, the rule has been relaxed for Indian carriers to enable them to participate in the bid process.

Tata Motors-owned Jaguar Land Rover (JLR) has struck a long-term strategic partnership with US-based Waymo to develop the world's first premium self-driving electric vehicle.

JLR and Waymo, formerly known as the Google self-driving car project, will work together to design and engineer self-driving Jaguar I-PACE vehicles.

ICICI Bank’s board on Wednesday came out in support of its Managing Director and Chief Executive Officer Chanda Kochhar and quashed the allegations of favouritism while describing certain reports against her regarding credit disbursement to the Videocon group as “malicious and unfounded rumours”.

The bank’s board also reviewed its internal processes and exposure to the Videocon group, the lender said in a statement to the bourses.

The Comptroller and Auditor General of India (CAG) has pulled up the MMRDA for non-recovery of Rs 7.7 billiion dues from Mukesh Ambani-owned Reliance Industries Limited (RIL), India's largest private sector company.

The CAG report, tabled in Maharashtra Legislature today, said Mumbai Metropolitan Region Development Authority is yet to recover Rs 8.55 billion froms RIL and Starlight Systems Private Limited, as lease premium dues on additional built up area allowed to the lessees in Mumbai's Bandra-Kurla Complex.

Sydney: Steve Smith and David Warner were slapped with a one-year international ban and ousted from this year’s IPL, while Cameron Bancroft was suspended for nine months as Cricket Australia cracked the whip on the errant trio for its role in the ball-tampering scandal in South Africa.

The lengthy bans on the trio effectively rule them out of the November-December series against India.

In its last board meeting for the FY-18, capital markets regulator SEBI (Securities and Exchange Board of India) accepted 40 out of 80 recommendations of Kotak Panel pertaining to a host of issues, including ways to strengthen algo trading, amendments to rules on angel funds, rationalization of expense ratio in mutual funds, buybacks, and takeovers. Notably, the regulator has accepted 40 out of 80 Kotak panel recommendations without any modifications, and 15 panel recommendations with some changes.

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