State-owned power equipment maker BHEL has signed a Memorandum of Understanding (MoU) with a Russian company INTMA, to set up a gas-based power project in Kazakhstan.

The MoU will further help BHEL in consolidating its presence in the CIS countries, the company said.

Mumbai: On 7 April, the readers of the national dailies—The Times of India and Hindustan Times—woke up to full-page advertisements from the Delhi-based two-wheeler market leader Hero MotoCorp Ltd.

“World’s most fuel-efficient bike,” announced the advertisement featuring the Splendor iSmart, a 110cc motorcycle with a claimed mileage of 102.5 km/l.

In a new twist to the high profile SEBI-Sahara case, the Indian capital markets regulator has approached a US court with a $12 million claim on proceeds from sale of a corporate jet owned by a Sahara Group firm.

The court has rejected the demand for now, saying that the Securities and Exchange Board of India (SEBI) could not “properly file a claim prior to the Bar Date and in accordance with the terms of the Court’s order“.

Inflation data, quarterly results of bluechips like TCS and RIL are expected to keep markets volatile in a holiday-shortened week ahead, say experts. Stock markets will remain closed on Tuesday for Baba Saheb Ambedkar Jayanti.

Besides, investment trend by foreign investors, movement of rupee against dollar and crude oil prices will also dictate trends on the bourses.

After reducing its base rate by 15 basis points (bps), India’s largest lender, State Bank of India (SBI), has cut the interest rate for new home loans by another 10 bps, to 9.9 per cent.

So, in effect, the interest rate for new home loans will be reduced by 25 bps. For the existing ones, 15 bps is the reduction.

Shares of Bharat Heavy Electricals (BHEL) were up over 2% at Rs 240 after the company said it has commissioned the second unit of the 600MW thermal unit in Chhattisgarh.

The second unit was commissioned at Dainik Bhaskar Power Ltd's upcoming 2x600MW thermal power project located at Dhabra in Jangir Champa District of Chhattisgarh, the company said in a release today.

Shares of Larsen & Toubro (L&T) were trading higher by 1% at Rs 1,783 on the BSE after the company said it has signed a memorandum of understanding (MoU) with French firm Areva for cooperation to maximise localisation for the EPR nuclear power plant to be built at Jaitapur in Maharashtra.

Areva’s EPR nuclear reactor is a third generation advanced pressurised water reactor.

Shares of Reliance Industries (RIL) were trading higher by 1% at Rs 916 on the National Stock Exchange (NSE), extending its past four-day’s gain on the bourses, on media reports that the company has discovered massive gas reserves at MJ-1 block in its KG-D6 basin.

Since April 6, 2015, the stock has rallied nearly 11% from Rs 825, compared with 1.8% rise in the CNX Nifty.

Rating agency ICRA has downgraded long-term loans to GMR group's power projects to default grade "D" on delay in loan repayments.

The loans, amounting to over Rs 11,000 crore, carried "BB" rating earlier.

Another tranche of share sale in state-run miner Coal India Ltd, the largest coal producer in the world, is "not ruled out", a finance ministry official told CNBC-TV18 television channel on Monday.

Aradhana Johri, divestment secretary at the ministry, did not specify any time-frame for the share sale in the company, which is nearly 80% owned by the government.

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