Ashok Leyland moved higher by 2% to Rs 95.55, recovering 2.6% from early morning lows of Rs 93.10, after a huge block deal executed on the counter on BSE.

At 09:21 am; around 10.98 million equity shares representing 0.46% of total equity of Ashok Leyland have changed hand on the BSE in a single block deal, the exchange data shows.

Shares of Mahindra & Mahindra rallied over 6% after the utility vehicle and farm equipment major reported a 26.3% growth in net profit at Rs 874 crore for the March quarter, helped by an exceptional gain of Rs 93 crore and higher other income of Rs 294 crore.

The stock gained as much as 6.3% to Rs 1,449 on the BSE. So far, 79,000 shares exchanged hands on the counter against its two-week average of 85,000 shares.

Moody's Investors Service has downgraded Reliance Communications' corporate family rating and senior secured bond rating on account of weak performance and "fragile" liquidity position.

Allaying concerns, the Anil Ambani-led Reliance Group company today said that it has told lenders that it would repay Rs 25,000 crore before September 30 this year post completion of its three different deals.

Tata Consultancy Services, India's largest IT firm, offered a more than 31 per cent hike in remuneration to its key managers at a time when the rest of the company's employees received average salary increase of around 10 per cent.

The IT services major declared its the performance-based hike in remuneration for the last financial year, the firm said in in its annual report for fiscal 2017.

Air India’s performance has improved in the past two years but it has failed to meet critical targets set in a turnaround plan drawn up by the government.

The airline has principally failed to meet its target of bringing down the net loss to Rs 2,369 crore in 2016-17. The government in 2012 provided the airline a Rs 30,000 crore bailout on condition that it will meet specified operational milestones.

Shares and bonds of the Anil Ambani-led Reliance Communications (RCom) continued to tumble on Monday, amid concern around mounting debt and ability to service the loans, given the competitive pressure in telecom.

Shares of RCom dropped as much as 24 per cent to hit an intra-day low of Rs 19.7. It recovered marginally to end at Rs 20.5, down Rs 5.3 or 20.5 per cent on the BSE.

Mumbai: The Securities and Exchange Board of India (Sebi) has raised concerns about Multi Commodity Exchange Ltd’s (MCX) disaster recovery (DR) site being located in the same seismic zone, Mumbai, where trading on the bourse takes place, two people with direct knowledge of the matter said.

The DR site is the Gujarat International Finance Technical Tec-City (GIFT), which falls in the same seismic zone.

New Delhi: The World Bank on Monday said the government’s November decision to withdraw high-value currency notes may have a disproportionately high impact on the poor and vulnerable while its decision to implement the goods and services tax (GST) will be equitable without any negative impact on the poor.

“Demonetization affected poor and vulnerable households, in all likelihood having an impact on construction and informal retail, where many poor and vulnerable individuals work.

Snapping its record-setting spree, the benchmark BSE Sensex fell over 41 points in early trade today as participants locked-in gains at current levels amid disappointing quarterly earnings.

Besides, absence of cues too negatively impacted trading sentiments as most of other Asian markets are shut.

Engineering giant Larsen & Toubro (L&T) today said its construction arm has won orders worth Rs 5,146 crore across business segments. “The construction arm of L&T has won orders worth Rs 5,146 crore various business segments,” the infrastructure major said in a BSE filing.

L&T said its power transmission and distribution business bagged orders worth Rs 2,780 crore in the domestic and international market.

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