Oil and Natural Gas Corporation (ONGC) has dipped 2.6% to Rs 304 on the BSE in intra-day trade ahead of the stock go for ex-bonus in the ratio of 1:2. The stock price will factor in the issuance of bonus shares on Thursday, December 15, 2016 to the existing investors.

The stock has outperformed the market by gaining 11% from Rs 280 after the company on October 24, announced that the board will consider a proposal for declaration of bonus issue on October 27. The S&P BSE Sensex was down 5% during the same period.

Reliance Industries (RIL) was up 2% to Rs 1,064 on the BSE in intra-day trade, gaining for the fifth straight trading sessions, in otherwise range-bound market. The stock was trading at six-week high, its highest level since October 30, 2016.

Since December 7, in past fifth trading sessions, it was up 6.4% from Rs 1,000 against 1.6% rise in the S&P BSE Sensex.

German luxury car maker Mercedes- Benz today launched a new sportscar AMG C43 in India priced at Rs 74.35 lakh (ex-showroom, Delhi).

It complements the C-Class range by another sports build of Mercedes-AMG origin, the company said in a statement.

MUMBAI: The amount of demonetized currency that has been deposited in banks has crossed Rs 12.44 lakh crore on December 10, according to data released by Reserve Bank of India on Tuesday.

The deposits represent nearly 80% of the value of high denomination notes (estimated at Rs 15.44 lakh crore) of Rs 500 and Rs 1,000 demonetised on November 8. The official data on high value currency as on March 2016 was Rs 14.18 crore.

Calcutta, Dec. 13: Public sector miner Coal India's September-quarter consolidated net profit took a hit as it made a Rs 710.64-crore provision to cover for the salaries and wages of its employees.

Net profit during the quarter stood at Rs 600.17 crore compared with Rs 2,654.34 crore a year ago.

Hyderabad: Ride-hailing firm Uber Technologies on Tuesday said it will launch its bike taxi service UberMOTO in Hyderabad from January next year. The company already operates the service in Gurgaon.

Uber had earlier launched the service in Bengaluru, but had to shut it after the state government said it did not obtain the necessary permits to do so.

Extending facility to deliver cash at the doorstep, Yes Bank has now tied-up with e-grocer Grofers allowing customers to get cash of up to Rs 2,000 when they order grocery online.

"Grofers, the on-demand e-commerce mobile and web application, is opening up a new avenue for people to get cash delivered at home, by partnering with Yes Bank," the bank said in a statement.

State-run NTPC has lined up investments worth Rs 2648 crore for developing three coal blocks in Odisha.

The Maharatna public sector undertaking (PSU) plans to invest Rs 684 crore in the Dulanga coal block, which is linked to its Dariplalli super thermal power project that has the capacity to generate 1,600 Mw of power. The power project, which is supposed to come up in Sundargarh district, will attract an investment of Rs 12,532 crore from NTPC.

Cyrus Mistry, the ousted chairman of Tata Sons, has appealed to minority shareholders of Tata Consultancy Services to vote with a conscience as the future India's largest IT services firm hinges on ''good governance and ethical practices" . Mistry also said he is fighting to save the soul of the Tata Group.

Mistry is certain that Tata Sons, which owns over 73 per cent stake in TCS, would score over any dissent to remove him from the company's board in the extraordinary general meeting of TCS called on Tuesday. In his letter to shareholders, he says the "fight is a matter of principle rather than facing the foregone outcome.

Mumbai: Market on Tuesday shrugged off a widely expected US interest rate hike as the benchmark Sensex bounced 183 points to close at 26,698, with auto, IT, oil and gas shares keeping up the momentum. At the close, Nifty retook the key 8,200-mark, driven by gains in RIL and ONGC stocks. Consumer price index-based retail inflation is scheduled for release on Tuesday.

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