Mumbai: Reliance Communications Ltd (R-Com) is seeking to raise at least $300 million (around Rs.1,900 crore) by selling bonds to investors in Europe and Asia, said two people familiar with the deal who did not want to be named.

This is the first time that R-Com is tapping the overseas market as it seeks funds for capital expenditure and payments related to the recently concluded spectrum auctions, one of the persons cited above said.

NSE Nifty fell below its 200-day moving average for the first time in nearly 15 months, led by declines in blue-chip stocks on continued worries about retrospective taxes and lower-than-expected January-March earnings so far.

The 50-shares NSE index declined as much as 0.76 percent to break its 200 day moving average of 8,254.17 for the first time since Feb. 6, 2014, on Monday.

Emerging as one of the most-liked stocks by foreign funds, mortgage giant HDFC Ltd has seen overseas investors raise their stake in it to a record high of nearly 80 per cent during the quarter ended March 2015.

The mortgage financier has also become the first listed Indian company among 30 Sensex firms to have around 80 per cent shareholding by foreign institutional investors (FIIs).

The death toll in Nepal’s devastating earthquake today crossed 3,200 with another 6,000 people injured as rains and fresh tremors hampered rescue efforts to locate survivors trapped under tonnes of rubble of flattened homes and buildings.

“The death toll has reached 3,218 and over 6,500 are injured,” said Rameshwor Dangal, head of the home ministry’s national disaster management division.

BENGALURU: Wipro is rolling out aprogramme that aims to disproportionately reward and incentivise top technical talent irrespective of seniority and designation, replicating a model that International Business Machines and Intel have successfully adopted and made famous.

The nation's third largest software exporter has created a 'fellow' programme that will offer privileges usually given to vicepresident level executives to the selected few, who will be part of Wipro's Distinguished Members of Technical Staff. "Very clearly, these technical career paths that we've created ... are driven by people who are growing without having any people under them," Wipro's global human resources head, Saurabh Govil, said in an interview on Saturday. "That is a new thing we're doing - technical knowledge is driving that."

While announcing the March 2015 quarter results on Friday afternoon, Infosys' management team shared the company’s vision for FY20. Infosys aims to clock in $20 billion annual revenue by FY20 (currently $8.7 billion), improve employee productivity by 50% and take up the company’s EBIT margin to 30% from 25% currently.

Higher revenue contribution from new services such as design thinking, artificial intelligence and intellectual property; increased focus on inorganic growth and higher revenue per employee are the three areas which will help Infosys achieve these targets, according to the management.

Shares of Kotak Mahindra Bank are trading flat at Rs 1,373, recovering 1.5% from its early morning low on the National Stock Exchange (NSE), after new shares issued by the private sector lender on amalgamation of ING Vysya Bank were permitted for trade from today.

“The new securities of 139.21 million equity shares of Rs 5 each issued pursuant to the scheme of amalgamation of ING Vysya Bank with Kotak Mahindra Bank are listed and permitted for trading on the exchange with effect from Monday, April 27, 2015,” Kotak Mahindra Bank said in a notification to the BSE.

With liquor giant United Spirits asking its own chairman, Vijay Mallya, to quit, the Securities and Exchange Board of India (Sebi) and other regulatory agencies have started looking into suspected irregularities at the company, including about the alleged fund diversion and disclosure-related lapses.

United Spirits Ltd (USL), in which Mallya-led UB Group has sold controlling stake to UK-based Diageo Plc, asked Mallya to step down as chairman and director after an inquiry revealed fund diversion in the past to various UB Group firms including the now-defunct aviation venture Kingfisher.

Nearly a year into Narendra Modi’s rein, the Indian equity market is no longer the story it was. The benchmark S&P Sensex, up as much as eight per cent at one point during the year, has seen its entire 2015 gains erased.

After two weeks of losses, the 30-share index on Friday ended at 27,437.94, slightly below 27,499.42, where it started the year. The index had risen as high as 29,681.77, an all-time closing high, on January 29.

NEW DELHI: Government has allowed retirement fund body EPFO to invest 5 per cent of its corpus in exchange traded funds which will result into an inflow of around Rs 5,000 crore into the stock markets during this fiscal.

Labour ministry has notified new investment pattern for the Employees' Provident Fund Organization which allows the body to invest 5 per cent of its funds into ETFs.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.