Hindustan Petroleum Corporation Limited (HPCL) has rallied 10% to Rs 1,233, also its record high on the BSE in intra-day trade after the company announced that the board has recommended issue of bonus shares in the ratio of two for every one held.

“The board of directors of the company at its meeting held on July 20, 2016, have recommended capitalisation of reserves and issue of fully paid bonus shares in the ratio of 2 (two) bonus equity share of Rs 10 each for every 1 (one) existing equity share of Rs 10 each,” HPCL said in a regulatory filing.

Axis Bank, the country’s third-largest private sector lender, has cut its base rate by 10 basis points to 9.35 per cent, bringing its minimum lending rate on a par with that of ICICI Bank, but still to catch up with the country’s largest lender, State Bank of India, and HDFC Bank, that have base rates of 9.30 per cent each.

Axis Bank’s competitors had reduced their base rates in October last year.

State Bank of India (SBI) and Brookfield Asset Management Inc will form a joint venture (JV) to drive investment into stressed assets. While Brookfield has committed Rs 7,000 crore, India's largest lender would chip in with Rs 350 crore as initial investment. The latter would also commit to earmarking five per cent of its total investments for stressed assets.

The Indian restaurant industry will contribute Rs 22,400 crore by way of taxes and create 5.8 million direct jobs in 2016, Indian Food Services Report (IFSR), 2016, revealed on Wednesday.

The report, prepared by industry body National Restaurant Association of India (NRAI), said the country's food services market is worth over Rs 3.09 lakh crore and is estimated to reach close to Rs 5 lakh crore by 2021.

Expressing her ire at Uttar Pradesh Bharatiya Janata Party (BJP) vice-president Dayashankar Singh for comparing her to a prostitute, Bahujan Samaj Party (BSP) supremo Mayawati on Wednesday said it reflected frustration on the part of the BJP.

"These kind of derogatory statements show that BJP is frustrated with the growing public support for BSP," Mayawati told ANI outside Parliament. Singh had yesterday passed a shocking remark while trying to highlight the rampant corruption in the allocation of tickets in the BSP.

I am planning to meet the new IT minister in 15-20 days and will wait for the response and then take a call, Ramadas Kamath, EVP and Head Infrastructure, Infosys, told PTI.

Kamath, who is in-charge of the Bengal project, said the idea behind meeting the minister is to take feedback from the government.

Google finds itself in a legal soup in India with an Allahabad court sending notice to the global search engine for allegedly listing PM Narendra Modi among top 10 criminals in the world.

According to a TOI report, the notice has been sent to Google, its CEO and the company’s India head. A criminal case will also be registered against Google and its officials, the report said.

Maximum consumer complaints for poor service and call drops have been received against Bharti Airtel, Vodafone and Reliance Communications in the last three years and the trend continues, Parliament was informed on Wednesday.

As per data shared by Telecom Minister Manoj Sinha "regarding poor services and call drops received by the Telecom Regulatory Authority of India (Trai)", nearly one-third complaints received in the first half of 2016 are against Airtel.

Realty major DLF on Wednesday announced restructuring of its joint venture with global investment firm Blackstone-managed Ridgewood Holdings that had invested Rs 1,481 crore in seven housing projects in 2007.

In 2007, DLF had diluted 49 per cent stake in seven residential projects located in Chennai, Bengaluru, Kochi and Indore to a Merrill Lynch & Co entity Ridgewood Holdings, now managed by Blackstone.

L&T Infotech, which recently concluded its Rs 1,243-crore IPO, will make its stock market debut on Thursday.

The listing will take place at the NSE in presence of L&T Group Executive Chairman A M Naik and other top officials along with merchant bankers.

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