State-owned lenders State Bank of India (SBI) and Punjab National Bank (PNB) are on a drive to auction properties to recover dues.

SBI is holding a mega e-auction where it would sell a record 1,107 properties online on September 7. The properties carry a reserve price of Rs 2,500 crore.

Bangkok: One Thai person was killed and 30 wounded when two bombs exploded late on Tuesday near a hotel in the southern Thai coastal town of Pattani, police said, less than two weeks after a series of unexplained blasts hit the south.

The first blast in a parking lot behind the Southern Hotel caused no casualties, Police Lieutenant Colonel Winyu Tiamraj told Reuters on Wednesday. All the casualties were Thais.

Reliance Communications (RCOM) and its subsidiary Global Cloud Xchange (GCX) on Wednesday launched ‘Make in India’ Cloud X WAN, a network platform designed to help overcome many of the challenges facing today’s global enterprise networks.

“In today’s market, it is evident that SD WAN (software-defined wide area network) is rapidly gaining momentum as it offers an innovative way to adapt traditional WANs to Cloud services,” said Bill Barney, CEO, RCOM (Enterprise) and GCX.

NTPC shares gained nearly 3 per cent in the morning deals on Wednesday after the company decided to raise up to Rs 15,000 crore through issuance of debentures or bonds on private placement basis. The amount will be raised in one or more tranches not exceeding 30, through private placement, in domestic market for capex, working capital and general corporate purpose. At 11.44 am, shares of NTPC were trading 2.17 per cent up at Rs 162.25.

State-owned companies, from builders such as NBCC to oil firms such as Bharat Petroleum Corp Ltd, are attracting top investors as cheap valuations, improving earnings, and share buybacks make them stand out in an otherwise expensive market.

A government move to increase taxes on dividends has spurred these cash-rich companies towards buying back shares for the first time to reward investors, but supporters say the allure extends beyond that.

IT major Tata Consultancy Services (TCS), India's largest IT services provider, said that it has settled an ongoing law suit with Orange County, California. The company has paid $26 million to settle the three-year long dispute.

The dispute was over a failed replacement to the county's automated property tax system that initially was to be completed by 2010 but was not delivered. "TCS and Orange County have agreed to settle an ongoing dispute regarding the joint development of a Property Tax Management System.

Larsen & Toubro (L&T) Infotech was down 1% at Rs 638, trading at its lowest level since listing in July this year.

The stock is currently quoting 10% below its initial public offer (IPO) price of Rs 710. The company issued shares at Rs 710, a discount of Rs 10 per equity share, to retail investors.

Markets finished the session on a marginally higher note amid choppy session as investors turned cautious ahead of August F&O expiry and signals on key policy rates from US Federal Reserve Chair Janet Yellen at a meeting scheduled this week.

The S&P BSE Sensex ended up 70 points at 28,060 and the Nifty50 rose 18 points to settle at 8,650. In the broader market, the BSE Midcap and Smallcap indices ended up nearly 1%, outperforming the benchmark indices.

Mumbai: On 18 July, India’s capital markets regulator unveiled yet another set of proposals for real estate investment trusts (REITs).

It took the Securities and Exchange Board of India (Sebi) over eight years and multiple attempts to put the right rules in place to convince Indian companies to launch these products.

Mumbai: State Bank of India (SBI) on Wednesday said that its committee of directors for capital raising had authorised the bank to raise Rs.11,100 crore worth additional Tier-I (AT-1) capital through issuance of Basel III-compliant perpetual debt instruments.

In a notification to the stock exchanges, the bank said that these perpetual debt instruments will be issued in dollar or rupee terms through private placements to domestic and/or international investors, in as many tranches as it may be considered appropriate by the lender.

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