Mumbai: The government will create a favourable environment to prevent any future stress in the power, steel, roads and ports sectors, top government officials said on Tuesday after a meeting with top bankers.

The officials met bankers at the Reserve Bank of India (RBI) headquarters to discuss about 85 large projects worth about Rs.3.5 trillion. About 4% of these projects have already been marked as bad debt.

Maruti Suzuki India Ltd will hand out special bonuses to its top-performing employees after posting a record profit in the year ended March.

The company has made a provision for the bonuses in its March quarter financial results, which was released on Monday, chief financial officer Ajay Seth said in a phone interview on Tuesday, without giving details.

The benchmark BSE Sensex fell over 200 points in late morning trade today as stocks of IT, FMCG, metal, oil & gas and auto companies succumbed to profit-booking by speculators ahead of tomorrow’s monthly expiry in derivatives segment amid a weak trend at other Asian bourses.

The 30-share index declined by 212.19 points, or 0.77 per cent, to 27184.19. The gauge had gained 219.39 points in the previous session.

Bharti Airtel will react after reporting 30.5% growth in net profit at Rs 1,255 crore for the quarter ended March this year, owing to growth in data revenue.

Idea Cellular is likely to firm up after its consolidated profit after tax increased 60% to Rs 942 crore for the fourth quarter ended March 2015 against Rs 589.8 crore for the same quarter March 2014.

Two wheeler manufacturer Bajaj Auto is now targeting emerging sport bike category with more offerings. The company today unveiled the Pulsar Adventure Sport series with Pulsar AS 200 and Pulsar AS150 along with Pulsar Rs 200. It will expand the category further in the next few months. The adventure sport bike category - AS200 and AS150 - are priced at Rs 80,570 and Rs 91000(ex-showroom Pune). The RS200 is priced at Rs 1.21 lakh for the non-ABS version and at Rs 1.33 lakh for the ABS version, ex-showroom, Pune.

Idea Cellular, India's third largest mobile operator, on Tuesday reported a 66 per cent year-on-year jump in its standalone net profit at Rs 1,077.7 crore for the fourth quarter, which was better than Street estimates of Rs 850 crore.

Revenues, too, beat Street estimates growing by 22 per cent in the fourth quarter over the corresponding quarter last year to Rs 8,541.3 crore. Various brokerages were expecting 19-20 per cent growth in revenues during the quarter.

K Nandakumar, 50, joined the Oil and Natural Gas Corporation (ONGC) as a security guard in Puducherry when he was 25. After serving for 25 years, it is only now that he is set to become a permanent employee of India's largest exploration and production company and be entitled to all the perks, allowances and benefits that come along with his job.

The quarter-of-a-century-old legal battle that ensued between the security guards and ONGC has been worth it, says Nandakumar. "Trips to the court and the struggle of 25 years have paid off. I am not sure how much I will get in terms of compensation from ONGC but whatever I get, I will invest for my future or probably buy a property," he said. Nearly 240 security guards had united to fight ONGC in 1988 when despite their 240 days in regular service, the company refused to consider them permanent, thus denying them the benefits.

Maruti Suzuki India plans to invest Rs 4,000 crore this fiscal on capital expenditure in order to enhance its leadership position in the market.

The company, which reported its highest ever annual profit and sales in the fiscal concluded March 31, 2015, said the amount would be utilised on enhancing marketing infrastructure, launching new products and on R&D.

Country's fourth largest telcom operator Reliance Communications (RCom) has mopped up $300 million from global investors by selling 5.5-year dollar debt at 6.5%.

"The company has launched, closed and priced the issue of Notes on April 27, 2015. The Notes have a tenor of 5-1/2 years due in 2020 and carry a coupon of 6.5 per cent per annum, payable semi annually. The Notes are expected to be settled by May 6, 2015. The Notes will be listed on the Singapore Stock Exchange," RCom said in a statement today.

NEW DELHI: ICICI Bank rallied as much as 6.7 per cent in trade on Tuesday to post its best percentage gain in a year on value buying, as analysts across Dalal Street remained positive on the stock despite weak asset quality concerns.

ICICI Bank, the country's largest private sector bank by assets, on Monday posted a 10% rise in March quarter earnings, in the previous session, but a jump in provision for bad loans and a surge in gross non-performing assets spoilt the show for the bank a bit.

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