German luxury carmaker Audi today launched a new version of its sports car Audi TT in India priced at Rs 60.34 lakh (ex-showroom Delhi) as it tries to retain top position in Indian luxury market.

"This is the first of the five launches that we have planned in the next five months. Despite economic downturn last year we have grown," Audi India Head Joe King told reporters here.

Stating that Reliance Industries (RIL) has no locus standi to raise dispute on the ONGC’s performance, the PSU explorer on Wednesday accused the firm of draining gas from its reservoirs at 98/2KG Basin block through the latter’s wells. RIL operates the adjacent block 98/3 KG Basin.

ONGC told the Delhi High Court that it wants to secure its rights, which are being jeopardised by continuous production activity from the four wells of RIL to its detriment. ONGC had earlier accused RIL of drawing natural gas worth an estimated Rs 30,000 crore from its fields adjacent to the latter’s KG-D6 block.

Markets continued to trade higher, amid firm global cues, led by financials while IT major TCS and index heavyweight Reliance Industries also witnessed renewed buying interest at lower levels in early trades.

At 9:35AM, the 30-share Sensex was up 119 points at 28,009 and the 50-share Nifty was up 48 points at 8,477.

Shares of YES Bank were trading higher by 4% at Rs 825, extending its previous day’s 1.5% gain on the National Stock Exchange (NSE), after reporting a 28% year-on-year (y-o-y) rise in net profit at Rs 551 crore for the quarter ended March 2015 (Q4), on back of higher interest income and a healthy growth in advances to retail and small and medium enterprises (SME).

Net interest income rose 36% to Rs 977 crore despite a flat net interest margin sequentially at 3.2%, marginally up from 3% from the year-ago period. The non-interest income grew 32% to Rs 590 crore on yoy basis.

ICICI Bank has launched iWear, a application for smart watches. This is available for Android watch users and can be downloaded from the Google Playstore. It will also be available on Apple watches.

A few days ago, HDFC Bank had said its mobile banking app will be available on the Apple Watch, which is yet to be launched in India. HDFC Bank’s mobile banking app has about 75 features and those commonly used will be available in the watch, such as balance enquiry, re-charge of pre-paid mobile phones, cheque book request, account statement as well as paying utility bills.

The Industrial Training Institute (ITI) set up by country's largest power producer, National Thermal Power Corporation (NTPC), in Korba was inaugurated to start the academic activities from the coming session.

The ITI had been set up by the company in the vicinity of the NTPC Korba power station. Built over an area of 10 acres at Chorbhati village near Korba, the company took up the project as part of Community Development initiatives.

Tax-free bonds for retail investors might soon be back, after a gap of one year.

National Highways Authority of India (NHAI) and Indian Railway Finance Corporation (IRFC) have received in-principle approval from the government to raise Rs 24,000 crore and Rs 6,000 crore, respectively, via this route.

As of today, rail commuters can use a mobile phone app to obtain tickets in the unreserved category as the Indian Railways takes forward its initiative for paperless ticketing.

“We have launched a mobile-based paperless unreserved ticketing application,” said a senior Railway Ministry official.

Mutual fund houses offloaded shares of pharmaceutical major Lupin Ltd, information technology (IT) giant Tata Consultancy Services (TCS) and Motilal Oswal Financial Services over the last two months.

While fund managers reduced their cash holdings and went on a buying spree over the last two months, they avoided these stocks.

The Indian rupee was trading marginally higher at 62.83 per dollar against previous day's closing value of 62.85 a dollar tracking gains in equities.

BSE Healthcare index was the top gainer up 1% followed by Capital Goods, FMCG, Metal, Oil and Gas indices.

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