With Rs 500 and Rs 1,000 notes getting demonetised, ICICI Bank has witnessed a significant rise in its debit and credit card usage.

Over the last 7 days, the bank saw a 100 per cent jump in usage of debit cards and over 40 per cent in credit cards, including at restaurants, departmental stores and for healthcare services.

State-run Hindustan Petroleum Corporation Ltd (HPCL) has posted a net profit of Rs 701.32 crore for the second quarter of the financial year ended on September 30, compared to a net loss of Rs 317.13 crore for the corresponding period of the previous financial year.

"The increase in profit is due to higher domestic market sales and reduced inventory loss compared to the corresponding period last year. Inventory loss came down to Rs 359 crore this quarter compared to Rs 1,406 crore during the second quarter of the previous fiscal," said M K Surana, chairman and managing director of HPCL.

New Delhi, Nov. 14 (PTI): The market regulator has stepped up scrutiny on developments in the escalating Tata-Mistry feud, keeping a close vigil on all disclosures being made as also the finer details of the board meetings of the listed companies of the Tata group.

The watchdog is seeking to prevent a violation of corporate governance norms and protect investors' interest, for which it has also received communications from various stakeholders, including foreign institutional investors.

Mumbai: Markets took another blow today as the Sensex plunged over 514 points to end at nearly 6-month low of 26,305 while the Nifty cracked below 8,200 mark on concerns about outflows amid surging US yields and the dollar gathering more steam. Currency market was hit hard, with the rupee down 57 paise to a five-month low of 67.82 against the US currency during the day.

Mumbai: Private sector lender Axis Bank Ltd is looking to sell its approximately 8% stake in Mswipe Technologies Pvt. Ltd, a mobile payments services provider, two people aware of the development said.

“The bank wants to sell its entire stake in the payments terminal company Mswipe and they have initiated discussions on the same. They are talking to some of the existing investors of the company, too, to pick the stake from them,” said one of the two people cited above, requesting anonymity, as the talks are private.

Tata Motors on Friday reported a consolidated net profit of Rs 848 crore for the quarter ended September 30, riding on strong sales of its British arm Jaguar Land Rover across various overseas markets. The automaker had reported a loss of Rs 1,740 crore for the corresponding quarter of the previous fiscal.

Consolidated revenues for the quarter increased 6.94% y-o-y to Rs 67,000 crore owing to the good performance by JLR and a recovery in the volumes of the passenger vehicles business on a standalone business.

State-owned Air India, which reported an operating profit of Rs 105 crore during FY16, in what was seen as early signs of a turnaround, also managed to increase its revenue per regular employee by over 12% to Rs 1.09 crore in the year. This was achieved by reducing the number of regular employees to 19,401, down 8% compared with FY15.

Air India, which received a bailout package of Rs 30,000 crore by the government in 2012, had frozen hiring of regular employees in 2012 and has since hired pilots and cabin crew on contract. This improved the airline-to-employee ratio to 1:120 (excluding subsidiaries) compared with 1:139 in the earlier fiscal.

Maruti Suzuki India today said it will set up an industrial training institute in Mehsana, Gujarat which when operational would train 300 youths per year in technical trades and Japanese shopfloor practices.

Christened as “Japan-India Institute of Manufacturing” (JIM), the institute would go on stream in August 2017.

KOLKATA: Coal India sold 7 million tonnes of coal, or 35% of the quantity on offer in an e-auction, at a floor price that was 20% higher than listed prices for non-power users. Traders as well as power producers with or without supply commitments from Coal India were allowed to bid in the auction.

“Most of the coal was sold near the floor price and we have been able to sell 7 million tonnes till now. The e-auction is still on and we hope to sell the entire volume of 20 million tonnes soon,” said a senior Coal India official.

NEW DELHI: State-run power equipment maker BHEL has expanded its footprint in the international market by securing export orders for supply of industrial motors to the African nations of Togo and Benin.

Scancem International DA, Norway (Heidelberg Cement group) has placed the order for the motors for their cement plants, Ciments Du Togo S.A. & Cimbenin S.A, Benin, BHEL said in press release.

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