Banking shares are trading higher on expectation that the Reserve Bank of India (RBI) may soon announce a reduction in key policy rate. The central bank's monetary policy review is scheduled for April 5, 2016.

The US Federal Reserve kept its key interest rates unchanged on Wednesday, and downgraded its forecast for number of rate increases to 2 in 2016 from the earlier projected 4.

Shares of Idea Cellular were up nearly 2% at Rs 100 on the Bombay Stock Exchange after the company said by mutual written consent it has terminated the agreement with Videocon Telecommunications Ltd for acquisition of right to use spectrum in the telecom service areas of Gujarat and Uttar Pradesh (West) for an aggregate consideration of approximately Rs 3,310 crore.

The release further said that no joint intimation of this agreement for Right to Use spectrum under Spectrum Trading Guidelines was filed with Department of Telecom.

The Securities and Exchange Board of India (Sebi) and the Enforcement Directorate (ED) are set to study a transaction between British multinational Diageo and UB group Chairman Vijay Mallya, in which the British firm acquired the South African Breweries' traditional sorghum beer business for close to $77 million.

The January 2013 transaction to acquire 50 per cent in the beer business was announced within months of the sale of United Spirits to Diageo in November 2012. The money was paid to Mallya in two tranches in his offshore accounts. In April 2015, Diageo had taken full control of the business by buying the other 50 per cent from Pestello Investments, a Mallya-owned company.

Bajaj Auto is trading 1% higher at Rs 2,250 (adjusted to dividend) on the BSE as the stock turned ex-dividend today, for an interim dividend of Rs 50 per share.

The board of directors of the two-and-three wheeler manufacturer at its meeting held on March 09, 2016, had declared an interim dividend at the rate of Rs 50 per equity share of Rs 10 each (i.e. 500 %), for the financial year ending March 31, 2016 (FY16).

Global ratings agency Moody's today said that country’s largest lender the State Bank of India's (SBI) profitability metrics could face lingering pressure as it spends the next six-eight quarters for rebuilding its balance-sheet buffers.

In contrast, its private sector counterpart, ICICI Bank, whose operating profitability has improved significantly, allows it to absorb a higher level of credit costs.

The state-run BSNL will launch wi-fi facility at Mata Vaishno Devi Shrine tomorrow, its 1,000th hotspot in the country.

Union Telecom Minister Ravi Shankar Prasad will launch the facility from Delhi.

BSNL had planned to set up 2,500 wi-fi hotspots in 250 locations at a cost of Rs 500 crore in the current financial year.

COIMBATORE: TVS Motors has entered into a partnership with Snapdeal to sell its motorcycles and scooters online. Nine two-wheeler products from TVS Motor Company will be available on Snapdeal.

Customers will now be able to select the model, colour and dealership of their choice on the 'Snapdeal Motors' platform from the comfort of their homes.

Mumbai: Three years after the National Spot Exchange Ltd (NSEL) scam and eight months after the merger of the Forward Markets Commission (FMC) with the Securities and Exchange Board of India (Sebi), action against NSEL brokers is on the cards.

The capital market watchdog has formed an investigative team to look into their role, said two persons familiar with the development. “Sebi has formed an investigative team-cum-committee to look into the allegations against the brokers of NSEL,” said one of the persons quoted above.

The rupee depreciated by 5 paise to 67.43 against the US dollar at the Interbank Foreign Exchange in early trade today due to increased demand for the American currency from importers amid a lower opening of the domestic equity market.

Besides, a dip in country’s exports in February and dollar’s strength against other currencies overseas, also put pressure on the rupee, forex dealers said.

National carrier Air India (AI) on Tuesday announced its summer schedule in which the airline has expanded its operations in the domestic and international routes and will be effective from March 27. The summer schedule will offer daily return flights from Bengaluru – Trivandrum and Mumbai – Bhopal sector.

Frequency on the Delhi – Pune sector is also being enhanced with number of flights added to and from Pune.

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