Bharat Heavy Electricals Limited (BHEL) shares soared as much as 16.66 per cent on Wednesday after the company posted 54.21 per cent increase in its net profit at Rs 77.77 crore for the quarter ended June 30, 2016 as compared to Rs 50.43 crore in the same quarter last year. Total income of the company jumped by 20.84 per cent to Rs 5,871.78 crore for the quarter under review from Rs 4,858.95 crore in the same quarter last fiscal. At 2.58 pm, shares of the company were trading 14.67 per cent up at Rs 158.45.

The oldest bourse in Asia, Bombay Stock Exchange (BSE) is all set to file the draft prospectus for its initial public offering. Yes, like many other stock exchanges across the globe, BSE is looking to list itself on the exchange, as reported earlier. This might not come as a surprise a to veteran stock analysts but to the investors it surely is.

Business Standard brings you a report on what you, the investor, should know about this huge IPO.

Banking stocks continued to gain ground on Wednesday, with the Nifty Bank index hitting a high of 20,575.80 in intra-day deals on the National Stock Exchange (NSE). Top gainers include Federal Bank, IndusInd Bank, Bank of India, HDFC Bank, State Bank of India (SBI) and Axis Bank that hit their respective 52-week high levels.

Nifty PSU Bank index was the largest gainer among sectoral indices, up 0.7% at 10am. By comparison, the benchmark index, the Nifty 50 was trading 0.1% lower at 8,930 levels.

Recent government initiatives to ease the construction sector's woes have come at a time when the sector's growth has slumped to 1.5 per cent in the first quarter of this financial year from 5.6 per cent a year before. Besides reducing the burden of companies, struggling with high debt, these steps are expected to reduce the problem of bad loans.

Commercial vehicle (CV) makers Tata Motors and Ashok Leyland have seen a sharp rise in bus orders from state transport undertakings (STUs). The two firms have together bagged orders for 8,600 buses worth about Rs 1,500 crore in the first five months of the current financial year. Most of these orders will be executed during the current financial year. STUs account for bulk of bus purchases in the country.

Mumbai: Private sector lender Yes Bank Ltd is gearing up to make a debut in the offshore bond market with a five-year dollar bond. The bank is looking to raise $300-500 million before March 2017 to avail cheaper funding for its offshore lending branch at GIFT City in Gandhinagar, Gujarat, said two people from the bank.

The offshore branch is meant to function as a foreign branch of the domestic bank and lend in foreign currency. GIFT City is India’s first international finance centre.

Reliance Industries Ltd’s (RIL) Hazira manufacturing unit in Gujarat has come under the scanner of central revenue authorities for alleged excise duty evasion of at least Rs 25 crore.

The Directorate General of Central Excise Intelligence (DGCEI) here has started a probe in the case and sought certain clarification from RIL, official sources said.

State-run Bharat Sanchar Nigam Ltd today termed Reliance Jio’s entry into the market as a “challenge” for all operators, but said it expects to match the intense competition “tariff-by-tariff”.

BSNL Chairman and Managing Director Anupam Shrivastava told PTI that the telecom PSU will adopt an aggressive stance on tariffs going forward.

Tata Motors has bagged orders worth Rs 900 crore for over 5,000 buses from various state and city transport undertakings in the first five months of the financial year. The numbers mark a sharp 80% jump in order book over last year. Most of these orders will be executed during the current financial year.

“The big surge in STU (State Transport Undertakings) buying across, is being witnessed after a gap of nearly four years, indicating renewed focus of various state governments / city transport providers on public transport,” the largest commercial vehicle player in the country said.

Calcutta, Sept. 5: Coal India Ltd (CIL) could fall short of its production target of close to 1 billion tonnes by 2019-20 unless there is an improvement in offtake.

In the first five months of 2016-17, cumulative offtake stood at 211.38 million tonnes (mt), a growth of 0.2 per cent over the year-ago period. Production at 194.81mt grew only 1.3 per cent during the period.

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