Idea Cellular has dipped 5% to Rs 108, also its 52-week low on the BSE in otherwise firm market after the company reported a consolidated net profit of Rs 764 crore against an average analysts estimate of Rs 776 crore for the quarter ended December 2015 (Q3FY16).

The company had profit of Rs 767 crore in the same quarter year ago and Rs 809 crore in previous quarter.

The government will pay banks a 2.5% commission to unlock the country’s massive stash of gold under a new monetisation scheme, the RBI said, as the ambitious plan received a poor response from banks and customers.

Prime Minister Narendra Modi launched the Gold Monetisation Scheme on November 5 to lure an estimated 20,000 tonnes of gold hoarded in households and temples into the banking system and trim the import bill of the world’s second-biggest gold consumer after China.

Reliance Industries' domestic exploration and production segments could see an uptick with the company planning to begin production from its coal-bed methane (CBM) blocks in the next three months. In its financial presentation on the website, RIL stated that phase one development was nearing completion and the first gas was expected shortly. It plans to produce 3.5 million standard cubic meters per day of gas from the two Sohagpur blocks in the state. However, pricing could be an issue.

RIL, along with other private players Essar Oil and Great Eastern Energy Corporation, is seeking freedom to sell gas from their blocks at market price. CBM contracts allow sale of gas at arms-length price. But that freedom was taken away by the earlier government by bringing CBM gas under the purview of the gas utilisation policy, giving the pricing freedom to the government.

Engineering and construction major Larsen & Toubro (L&T) is in talks with the Ahmedabad-based Adani group to sell its power plant in Punjab at an estimated value of around Rs 3,000 crore. If the deal gets through, it will be Adani's third acquisition of a power project in 17 months.

A banker said the talks with Adani are at an advanced stage. However, no decision has been taken yet as due-diligence is currently on. The acquisition will play an important role in Gautam Adani's plan to become India's biggest power producer and port operator in India.

As the WEF debates ways to master the fourth industrial revolution, top banker Chanda Kochhar on Thursday said financial sector has rapidly adopted the new technology and ICICI bank is targeting total transactions worth Rs 80,000 crore through mobile banking by the end of this financial year.

The WEF Annual Meeting this year has the theme 'Mastering the Fourth Industrial Revolution' and the business as well as government leaders from across the globe here are discussing benefits and risks posed by this phenomenon to the state of the world.

Confident of utilising the headroom available to the Indian economy, Finance Minister Arun Jaitley today said it needs some additional growth engines and the focus now is on reviving private investments.

Inviting foreign players to invest in the infrastructure space, he exuded confidence that the stuck reform measures like GST would go through as the numbers in the Upper House will change favourably soon.

Market benchmark Sensex on Thursday sinked further to crack below the 24,000-mark after over 20 months by shedding 100 points to 23,962.21, bogged down by persistent selling in Asian shares, following fresh dip in oil prices.

The broader NSE Nifty also broke below the 7,300-mark. Profit-booking in blue-chips after early gains, caution ahead of earnings announcement from more key corporates and further weakening of the rupee, which again breached the 68 mark against the dollar also took its toll.

NEW DELHI: The Election Commission has asked the government to amend electoral rules to allow it to introduce a new device to enhance secrecy of votes during counting which prevents disclosure of voting pattern.

As per existing rules, votes in the electronic voting machines (EVMs) are to be counted polling station-wise, which leads to situations where voting patterns in various localities or pockets become known to everyone.

New Delhi: An advisory panel set up by the capital markets regulator has suggested a slew of tax reforms and changes in existing laws to facilitate capital-raising by alternative investment funds (AIFs) and boost entrepreneurship.

The committee formed by the Securities and Exchange Board of India (Sebi) and headed by Infosys founder N.R. Narayana Murthy put out a report on Wednesday suggesting ways to create a favourable tax environment for investors.

No further details of the deal have been disclosed by the company. Nonetheless, adding a comment on the development, Founder & CEO, FirstCry, Supam Maheshwari said, “The idea is to gain from his wisdom and it’s a vote of confidence, which boosts morale of both the entrepreneur and our team”.

As per the data stated on Google Play, the company has over 90000+ items from 1200+ top National & International and Indian brands like Mattel, Ben10, Pigeon, Funskool, Hotwheels, Nuby, Farlin, Medela, Pampers, Disney, Barbie, Gerber, Fisher Price, Mee Mee and so on. Its customer base is more than over 1 million.

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