Selecting from over 100 applications for the much-touted position of the chairman and managing director of NTPC, the country’s largest power generation company, the Cabinet's appointments committee approved Gurdeep Singh for the post.

Singh is currently the managing director of Gujarat State Electricity Company Limited (GESC). Having started his career in NTPC in 1987, Singh has a profile consisting of major names in the sector—both public and private companies. He was earlier associated with Calcutta Electric Supply Corporation, Powergen and IDFC Projects in different capacities.

ICICI Bank, the country’s largest private sector lender, has reported net profit of only four per cent in the October-December quarter at Rs 3,018 crore on account of higher provisioning.

It is for the first time in the last 23 quarters that the lender has reported a net profit of only four per cent. Prior to this, the bank had been posting net profit of anywhere between 44-12 per cent.

Microsoft India today announced that it has extended the maternity leave for its women employees to six months from the current three months.

The new maternity policy will be effective from February 1, 2016 and also benefit all women employees who are currently on maternity leave.

MUMBAI: Top mortgage lender HDFC Ltd on Wednesday reported an 11 per cent rise in consolidated net profit at Rs 2,419 crore for the December quarter, driven by an uptick in commercial lending and better performance by subsidiaries.

HDFC vice-chairman and chief executive Keki M Mistry attributed the lower rise in net to "lower profit on sale of investments at Rs 57 crore against Rs 113 crore, lower income from leased properties, other income and higher depreciation compared to the previous year."

Bengaluru: Infosys Ltd has bought a minority stake in Waterline Data Science Inc., a start-up based in Delaware, US, which helps companies make sense of large data sets, for $4 million.

Infosys investment allows it to have “a minority holding, not exceeding 20% of the outstanding share capital of the company” and it expects to close its investment by 4 February, the company said on Thursday.

The Supreme Court on Wednesday slammed Sebi over its move to hear afresh the Financial Planning Supervisory Foundation’s (FPSF) plea for grant of approval to act as a self-regulatory organisation (SRO) for distributors of mutual fund products.

A bench headed by Justice Ranjan Gogoi said since the apex court was hearing the matter, the market regulator could not have decided to initiate a parallel proceedings and hear the issue afresh.

Three Indians – Mukesh Ambani, Azim Premji and Dilip Shanghvi – have made it to a global list of 50 wealthiest people that is topped by Bill Gates.

According to a new list by Wealth-X in collaboration with Business Insider, Mukesh Ambani was ranked at the 27th place on the list with a net worth of $24.8 billion, while Azim Premji and Dilip Shanghvi were ranked at the 43rd and 44th place with assets worth $16.5 billion and $16.4 billion respectively.

The government is planning to opt for the buyback route, instead of an offer for sale (OFS), for divesting its stake in Bharat Heavy Electricals (BHEL) and National Aluminium Company (Nalco) so that it can get higher prices from the stake sale.

The government expects to garner around R9,000 crore from these buybacks whereas OFS is likely to fetch R5,600 crore at the current market valuations.

NEW DELHI: The oil price crash may turn out to be a lost opportunity for state-run Oil and Natural Gas Corporation, which may be forced to defer its plans to acquire overseas assets that are gradually turning cheaper, stifling the country's ambition to leverage low prices to enhance its energy security. The oil slump is hurting ONGC's income and cash flow. This may force the firm to borrow heavily, something it has avoided in the past, to fund its priority domestic projects, thereby squeezing financing prospects for overseas acquisitions.

Inderjit Singh Reyat, the lone person convicted for the 1985 Air India Kanishka bombing that killed all 329 people on board, was today released from prison in Canada after serving two decades behind bars.

Reyat was convicted of perjury in 2010 for lying to the court in 2003 during the trial of Ripudaman Singh Malik and Ajaib Singh Bagri, who were acquitted in the terrorist attack.

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