Sensex and Nifty lost up to 1%, ended down after the slump in the shares of Reliance Industries, Lupin and State Bank of India. However, domestic stock markets hit the fresh record highs in the early afternoon trade. The sell-off in the stocks of heavyweight companies such as Lupin, Cipla, Bharti Airtel, State Bank of India, RIL, Tata Motors and Sun Pharma led the indices into the red. Indian stock markets are weighing on the mixed sentiments about Q2 corporate earnings. BSE Sensex lost 360.43 points or 1.07% to finish at 33,370.76 points while NSE Nifty washed off 101.65 points or 0.97% to end at 10,350.15 points.

Private sector ICICI Bank today said its board has approved a proposal to sell part-stake in fully-owned broking business subsidiary ICICI Securities through an initial public offer (IPO).

It, however, did not mention the size of the stake it wants to divest.

Mumbai | Bengaluru: Former Infosys executives BG Srinivas and Ashok Vemuri are the frontrunners to be the IT company's chief executive, even as the firm explores creating a deputy CEO role to ensure management continuity, said people with knowledge of the matter.

The Bengaluru-headquartered company is not having an easy time picking a new leader after former CEO Vishal Sikka resigned in August following a bruising battle with founder NR Narayana Murthy over corporate governance issues. Cofounder Nandan Nilekani returned to the company as non-executive chairman to steady operations.

Kolkata, Nov 7 () The state-owned power equipment major, Bharat Heavy Electricals Limited (BHEL) is aiming at doubling the non-power revenue by 2022 and the projects will be executed on a turnkey basis.

The areas like municipal water, Ganga mission, solar, aerospace, defense and metro and high speed rail projects have been identified as growth drivers. "Currently, our non-power business is 20 per cent and we are aiming at doubling it to 40 per cent by 2022," BHEL Director Amitabh Mathur told . "Unless, we take turnkey projects like we do in power, topline will not be high," he said.

Calcutta: Mahanadi Coalfields Ltd, a Coal India subsidiary, will examine the showcause notices carrying penalty worth Rs 20,169 crore issued by the Odisha government for violating mining plans, environmental norms and other regulations.

The respective deputy directors of the mines in the Talcher, Rourkela and Sambalpur circles have issued 24 notices on October 31, 2017, to the project officers of different mining projects of Mahanadi Coalfields Ltd. The subsidiary received these notices on November 1, 2017.

New Delhi: Just a month before business tycoon Vijay Mallya’s extradition hearings are set to begin in London’s Metropolitan Magistrates’ Court, India and the UK held talks to close loopholes in the immigration and extradition process on Monday.

Indian minister of state for home affairs Kiren Rijiju and the UK’s minister of state for immigration Brandon Lewis headed the two delegations at the talks.

The income-tax department and the capital markets regulator on Monday said they will be scrutinizing the so-called Paradise Papers—documents obtained by a global network of investigative journalists—to see if any Indian individual or companies were guilty of wrongdoing.

While the income-tax authorities will investigate companies allegedly evading taxes by using complex offshore structures, the market regulator will be scrutinizing disclosures.

The benchmark BSE Sensex on Tuesday scaled a new peak of 33,853.63 as its record setting spree continues for a third day on the back of rally in infrastructure, IT, capital goods and banking stocks.

The broader Nifty gained 33.95 points, or 0.32%, to trade at 10,485.75, approaching towards its life-time high of 10,490.45 points (intra-day) touched on November 6.

Sales of Maruti Suzuki’s mid-size sedan Ciaz seem to have come under pressure with 43% tax (28% GST plus 15% cess) getting levied on hybrid cars. Launched in 2014, Maruti unleashed Ciaz’s mild hybrid variant last year, which attracted just 12.5% excise duty compared to a 28% on any other car in the segment. Hence, Ciaz became most popular choice of customers in the segment. However, after the GST roll-out, taxes on hybrid cars were hiked to the same level – 28% GST plus 15% cess as any other car with a more than 4-metre chassis and this has substantially impacted the fortune of the sedan.

Shares of state-owned oil exploration & production companies – Oil and Natural Gas Corporation (ONGC) and Oil India – rallied up to 3.5% on the BSE in early morning trade on rising crude oil prices.

“Oil prices rose 3% on Monday, hitting the highest since early July 2015, as Saudi Arabia's crown prince cemented his power over the weekend with an anti-corruption crackdown, while the US rig count fell and markets continued to tighten,” the Reuters report suggests.

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