State-owned Bharat Petroleum Corp Ltd (BPCL) today said it has raised $500 million through fixed rate unsecured notes to fund its capital expenditure.

"BPCL has launched an issue of $500 million fixed rate unsecured notes due 2025, which were priced on April 29," the company said in BSE filing.

The benchmark Bombay Stock Exchange or BSE Sensex tanked over 240 points to slip below the 27,000-level in late morning trade today as participants indulged in offloading positions in view of April series expiry in the derivatives segment.

The 30-share barometer, which had lost 170.45 points in yesterday’s volatile session, dipped below the 27,000-mark by falling 224.34 points or 0.82 per cent to 27001.59.

MUMBAI: Markets regulator Sebi has ordered attachment of bank and securities accounts of over 40 entities so far this year to recover pending dues worth more than Rs 140 crore from defaulters.

The 44 defaulters against whom recovery proceedings were initiated by Sebi include — Wasankar Wealth Management and Kolkata Weir Industries — that had fraudulently raised funds from public.

Top mortgage lender HDFC today reported a tepid 9.6 per cent growth in consolidated net profit at Rs 2,646.35 crore for the three months to March as it had to set aside Rs 384 crore towards deferred tax liabilities during the period.

The deferred tax liability on special reserves for the year, amounting to Rs 384 crore, has been charged to the statement of profit and loss account in determining the consolidated profit, HDFC Vice-Chairman and Chief Executive Keki Mistry told reporters here.

Mumbai: Axis Bank Ltd shares rose as much as 5.3% on Thursday after the bank reported better-than-expected earnings. This is the third consecutive session of gains for the stock.

In intra-day trading, it touched a high of Rs.582—the last highest level was seen on 19 March. The stock has gained 11% in the last three sessions and 15% year-to-date.

SAN FRANCISCO: Microsoft hopes to get more people using the next version of its Windows software on all kinds of devices by giving them access to many of the same apps they're already using on Apple or Android phones.

In a major strategy shift, a top executive told an audience of several thousand software developers on Wednesday that Microsoft will release new tools to help them quickly adapt the apps they've built for Apple or Android gadgets, so they will work on smartphones, PCs and other devices that use the new Windows 10 operating system coming later this year.

Infosys Ltd is trying to improve the effectiveness of its sales team by incorporating elements of design thinking, among other measures, while making pitches to prospective clients in an effort to win more orders that exceed $100 million in annual revenue.

Chief executive officer Vishal Sikka has, however, told top company executives that any “meaningful impact” of all the current measures, including using design thinking and automation, on how Infosys writes code and rolls out technology solutions for its clients, will start reflecting in its earnings only from the October-December quarter, according to a senior company executive.

Shares of DLF were up nearly 3% at Rs 132 after the company said that ICRA has removed the rating frmo 'rating watch with negative implications' and reaffirmed the rating (ICRA)A on the real estae major's bank facilities and NCD programme.

ICRA has reaffirmed the long-term rating of ICRA A assigned to Rs 4,000 crore non-convertible debenture programme, Rs 8,542 crore fund-based facilities and Rs 1,160 crore non-fund based facilities of DLF Ltd, the company said in a release adding that the long term rating has been assigned a negative outlook.

Axis Bank on Wednesday reported an 18.36% growth in net profit for the fourth quarter ended March 31, 2015 on account of higher net interest income (NII). The bank had net profit of Rs 2180.6 crore for Q4 of FY15 compared to Rs 1842.3 crore posted in Q4 FY14.

Provisions for the fourth quarter were at Rs 709.8 crore compared to Rs 505.2 crore in same quarter previous fiscal, an increase of 40%. Net interest income in Q4 of FY15 was up by 20% at Rs 3799.2 crore.

JAIPUR: The refinery project would generate cash surplus for Hindustan Petroleum Corporation (HPCL) even without the Rajasthan government financial assistance of Rs 3,736 crore annually to the company for 15 years. The findings that have come out in the preliminary report of PwC has firmed up the state government stand for refusing to extend interest-free loan to HPCL.

From starting of operations, the profit earned by the main promoter HPCL would be above Rs 2,000 crore annually. Except in the second year, where cash surplus is estimated to be Rs 1500 crore, the company is expected to register increase in net profits every year.

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