New Delhi, Sept. 5: State-owned refiner Indian Oil Corporation plans to add 24 million tonnes per annum (mtpa) to its refining capacity by 2022 at an investment of about Rs 40,000 crore.

The expansion will help the PSU to garner additional foreign exchange through export of petroleum products and meet the growing energy demands of the country.

Mumbai: The CNX Nifty hit the 8,900 mark for the first time in 18 months led by gains in auto and banking stocks after weaker-than-expected US non-payroll data reduced investor fears of a Federal Reserve rate hike in the near term. Continuous inflow from foreign and domestic institutional investors also helped.

In intra-day trading, Nifty touched a high of 8,905.10, a level last seen on 5 March 2015, and gained as much as 1.08% from its previous close. India’s benchmark Sensex index touched a high of 28,843.48, a level last seen on 16 April 2015, and gained as much as 1.1%. Both indices gained in five out of the last six trading sessions.

ITC shares surged on Tuesday after Delhi High Court ruled in favour of the company in the biscuit packaging dispute with Britannia. The court has asked Britannia to withdraw NutriChoice zero biscuit stocks within 4 weeks. Reacting to the news, ITC shares were trading 1.07 per cent up at Rs 265.25 at 11.06 am. The scrip opened at Rs 262.80 and touched a high and low of Rs 266 and Rs 262.40, respectively. Sensex was trading 297.12 points up at 28,829.23 during the same time.

Infosys rose 1.47% to Rs 1,046.20 on the BSE after the company said it has entered into a joint venture pact with Saudi Prerogative Company in the Kingdom of Saudi Arabia to conduct IT services for customers in the Kingdom of Saudi Arabia.

The announcement was made after market hours on Friday, 2 September 2016. The stock market was closed yesterday, 5 September 2016, on account of Ganesh Chaturthi.

The Securities and Exchange Board of India (Sebi) has sought major changes in the newly implemented central Know Your Customer (KYC) process. The regulator has written that several market intermediaries such as mutual funds (MFs), brokerages and even banks were facing issues adhering to the new central KYC process.

Starting August 1, the government has shifted to the central KYC process, to enable common and one-time KYC for all financial market intermediaries.

Hyundai Motor India had posted a growth of nine per cent in sales as compared to the industry growth of seven per cent in the first eight months of the year, said Y K Koo, managing director and chief executive of the company. The automobile company has seen a booking of 400 units of Elantra sedan in a few days till the end of August.

“We have sold 3,27,844 units in the past eight months and a nine per cent growth against the market growth of 7.5 per cent. We are ahead of the industry growth,” said Koo after inaugurating the company’s first Global Dealership Space Identity showroom in Chennai.

Automobile major Maruti Suzuki’s national foray into the light commercial vehicle (LCV) segment will have to wait for the next financial year, as the company is limiting its newly founded LCV arm to pilot testing in five states in the current financial year.

The company is currently piloting this vehicle in Punjab, Gujarat and West Bengal and it plans to introduce the vehicle in Rajasthan and Haryana. The passenger cars major plans to open about 50 showrooms for the new commercial vehicle, Super Carry, which it plans to scale up depending on the response from the market.

Tech giant Microsoft and large equipment manufacturer Liebherr are collaborating on a new generation of smart refrigerators that would help in shopping and planning meals with intelligent food management.

"As part of the Liebherr household appliances division's digital initiative, the duo would develop 'SmartDeviceBox', a communication module which fits into refrigerators and freezers, connecting them to the internet," T J Hazen, Principal Data Scientist Manager at Microsoft, wrote.

Mumbai: The rupee on Friday strengthened for the fourth consecutive session and hit a two-week high against the US dollar after foreign institutional investors (FIIs) continued to buy in local equity markets. Traders are cautious ahead of the US payroll data due later on Friday.

The home currency closed at 66.83 per dollar—a level last seen on 18 August, up 0.2% from its previous close of 66.96. The rupee opened at 66.83 per dollar and touched a high of 66.81, a level last seen on 18 August.

Bengaluru: Shares closed higher on Friday, with the benchmark BSE Sensex recording its biggest weekly gain in nine weeks, as strong August sales data of companies such as Hero MotoCorp Ltd and Tata Motors Ltd lifted investor sentiments.

The NSE Nifty gained 2.36% in the week, its biggest gain in seven weeks, and closed up 0.4 percent at 8,809.65.

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