NEW DELHI: Brokerage Reliance Securities in a note on Tuesday set the target price for the largest state-run lender SBI to Rs 240. The brokearge in a report cited that the stock closed below its 200-day simple moving average (SMA) on Monday, down 3.1 per cent.

The stock closed below its 200-day SMA of Rs 278 for the day. On Tuesday, the scrip was quoting 2 per cent higher.

State-run oil marketing companies surged over 4 per cent in intraday trade on Tuesday.

Indian Oil Corp gained as much as 2.48 per cent, Bharat Petroleum Corp was up 4.44 per cent and Hindustan Petroleum Corp surged 4.5 per cent in intraday trade.

The benchmark BSE Sensex rose over 70 points in early trade today as value-based buying in stocks of banking, auto, metal, PSUs, oil & gas and power sectors led the recovery amid a mixed trend at other Asian markets.

The 30-share index, which had lost 713.14 points in the previous three sessions, recovered by 70.92 points, or 0.26 per cent, at 27,247.91.

Mark Zuckerberg’s Facebook Inc said on Monday it added a video-calling feature to its standalone Messenger app.

The Facebook feature is currently available to users on iOS and Android operating systems, the company said.

Mumbai: The Indian rupee strengthened for the second consecutive session against the dollar on Tuesday ahead of the US Federal Reserve’s two-day policy meeting.

The local unit opened at 63.36 per dollar. At 9.11am, the rupee was trading at 63.40, up 0.13% from its previous close of 63.49.

Falling cash reserves and increasing debt are expected to reduce treasury income for Reliance Industries Ltd (RIL) in the current fiscal year as the company will have less cash to invest in instruments such as mutual funds and government bonds, among others.

RIL, which is in the midst of its biggest capital expenditure cycle, is investing up to $24 billion over a five-year period since fiscal 2013 across businesses ranging from refining, petrochemicals and fourth-generation telecom services.

New York: Microsoft Corp. lost a round in a potentially costly patent battle when a US International Trade Commission judge on Monday found that the software giant used InterDigital Inc.’s technology in its mobile phones without permission.

The judge, Theodore Essex, said that Microsoft infringed two wireless cellular patents owned by InterDigital, a patent licensor, and said it would not be against the public interest to ban the Microsoft devices from being imported into the US.

Private sector lender YES Bank announced its international foray by launching its first International representative office in Abu Dhabi, UAE.

Here, the bank will provide services for unique investment needs of the Indian diaspora in the Gulf city through their flagship Global Indian Banking program which comprises of NRE/ NRO savings account & fixed deposits, foreign currency fixed deposit and YES First wealth management programme among others.

Four-wheeler manufacturer Maruti Suzuki reported a 60% jump in net profit at Rs 1,284 crore for the quarter ending March 2015 as against Rs 800 crore in the same period a year ago.

The company said that higher volumes, lower material cost Contributed to its bottomline in Q4.

Private sector lender ICICI Bank on Monday reported a 10% rise in net profit on standalone basis at Rs 2,922 crore for the January-March quarter.

It had posted Rs 2,652 crore profit in the fourth quarter of the 2013-14 fiscal.

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