The first-of-its-kind auction of properties undertaken by the Securities and Exchange Board of India (Sebi) to recover its dues from the Sahara group got underway this week.

"In the e-auction that began on Monday, the response of buyers was lukewarm. But, HDFC Realty closed a sale," said an official familiar with the sale process. The transaction fetched nearly Rs 58 crore, he added without disclosing the location of the property.

Axis Bank, the country’s third largest private sector lender, has got the approval of the Cabinet Committee on Economic Affairs (CCEA) to raise its foreign shareholding to 74 per cent from 62 per cent.

According to guidelines, foreign shareholding in a private bank cannot exceed 74 per cent. This 12 per cent hike of foreign shareholding is likely to bring in investments of Rs 13,000 crore.

Information technology (IT) major Wipro has said it would stall its plans for a second campus in Kolkata if it is denied the special economic zone (SEZ) status.

Information technology (IT) major Wipro has said it would stall its plans for a second campus in Kolkata if it is denied the special economic zone (SEZ) status.

Mumbai: The Indian rupee weakened against the US dollar, while the benchmark 10-year bond yield closed at a three-year low on Tuesday, on anticipation of rate cuts on reduced monsoon deficiency and as global bond yield prices fell.

The home currency closed at 67.46, down 0.28% from its previous close of 67.27, while the benchmark 10-year bond yield fell to 7.39%—a level last seen on 20 June 2013, from its previous close of 7.425%.

Ashok Leyland has dipped 5% to Rs 93.30 in intra-day trade, extending its Monday 2% decline on the BSE, after the company reported single digit growth in total sales for the second straight month.

Ashok Leyland reported 7% increase in total sales at 11,108 units in June 2016 against 10,429 units sold in June last year. Total sales of the company rose by 6% in May 2016 to 9,875 units from 9,290 units in a year ago month.

New Delhi, July 4 (PTI): Indian Oil Corporation (IOC) will invest Rs 40,000 crore to expand its refining capacity to over 100 million tonnes (mt) by 2022 as the nation's largest oil company looks to add capacity to meet the country's rising energy needs.

"As we see, (fuel) demand is expected to grow at 3.5-4 per cent CAGR and we need to build capacities to meet that requirement," IOC director (refineries) Sanjiv Singh said.

Investors have been uncharacteristically aloof to NTPC Ltd’s announcement that electricity generation grew 10% in the April-June quarter. It is the fastest quarterly growth the firm saw in almost two years. The growth supports the view that electricity consumption is in a recovery mode, with positive growth emerging from early this year. NTPC has 16% of India’s total installed power capacity.

Mumbai: ICICI Bank Ltd has sold part of its loan exposure in debt laden Essar Steel Ltd to Edelweiss Asset Reconstruction Co. Ltd, two people familiar with the development said.

“The bank has sold around Rs.1,000-1,500 crore worth of loans in Essar Steel to the ARC (asset reconstruction company) this month. ICICI Bank will continue to retain the working capital exposure it has in the company,” one of the two people cited above said.

The benchmark Sensex fell over 33 points in early trade as investors booked profits in recent gainers amid mixed Asian cues.

The 30-share barometer declined 33.44 points, or 0.12%, to 27,245.32, with sectoral indices led by power, realty, auto, capital goods and IT bringing about the fall.

Tata Consultancy Services (TCS) is partnering with the Royal College of Physicians in Ireland to deploy iON cloud solutions to create an online community of doctors. The new tool called The Physician Network is a resource based on the TCS iON Digital Learning Platform to enable virtual 'common-interest communities' and facilitate best practice knowledge-sharing.

V Ramaswamy, Global Head, TCS iON said that doctors will be able to collaborate from any location around the world, using the mobile-optimised solution to share insights and learnings with other medical professionals.

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