Ramalinga Raju was his usual self, calm and unperturbed, even as the final verdict of seven years of rigorous imprisonment was being announced by a special court set up by the Central Bureau of Investigation (CBI) for his role in the multi-crore accounting fraud at the erstwhile Satyam Computer Services.

It was as if Raju, former chairman of Satyam, was aware ‘the tiger’ he had been ‘riding’ for several years was now about to throw him off its back and prey on him.

Mumbai: India’s central bank will continue to focus on targeting inflation and cannot drop guard, Reserve Bank of India governor Raghuram Rajan said in an interview to CNBC-TV18 on Thursday.

“This is where we cannot relax our guard quickly, we cannot say we are out of the inflation woods,” Rajan said, referring to the central bank’s achievement over bringing down retail inflation sharply from double digit level.

CHENNAI: Axis Bank and a couple of smaller private banks have decided to cut their lending rates a day after State Bank of India, ICICI Bank and HDFC Bank lowered their base rates.

On Wednesday, Axis Bank reduced its base rate by 20 basis points from 10.15% to 9.95% effective from April 13. Lakshmi Vilas Bank also has reduced its base rate, while other smaller private banks such as City Union Bank and Repco Bank are expected to follow suit. Rate cuts by the big banks are compelling smaller institutions to reprice their loans as they fear loss of business in an environment where credit growth is sluggish.

MUMBAI: Extending the winning run to fourth consecutive session on Thursday, the benchmark BSE Sensex rose by over 190 points to close at a three-week high of 28,707.75 mainly led by gains in RIL, Infosys and Coal India amid sustained foreign capital inflows.

The barometer has garnered 750.26 points in four-day gaining spree.

NEW DELHI: Flagship explorer ONGC may be one of the most valuable companies by market cap. But for long, it has carried the image of a lumbering government entity with a "chalta-hai" (business as usual) attitude towards falling oil production.

Not any more. With the Modi government fixing accountability and oil minister Dharmendra Pradhan keeping a hawk's eye on monthly performance, the country's biggest oil producer has succeeded in reversing the decline by posting positive growth in output for the first time in seven years.

Shares of Inox Wind listed at Rs 400, a 23% premium against its issue price of Rs 325 per share, on the National Stock Exchange (NSE).

It touched high of Rs 427 and has seen a combined 4.91 million shares changed hands on the counter on the NSE and BSE. At 1015 hours, the stock was trading at Rs 411 on the NSE.

A special court set up in Hyderabad to try the Satyam Computer Services multi-crore accounting fraud case, today convicted former chairman B Ramalinga Raju and other nine accused following a seven-year trial.

The court will announce the quantum of punishment on Friday.

As regulators try to contain one of India's most spectacular investment scandals, dozens of smaller but similar schemes continue to mushroom, employing tactics similar to the ones that enriched the Sahara group and later brought it to its knees.

Sahara began as a scheme for small depositors, but it grew over decades with investment plans that critics say were designed to avoid regulatory scrutiny. At its height, it was one of India's biggest business empires, stretching from Formula One motor racing to New York's Plaza Hotel.

NEW DELHI: State-owned Oil and Natural Gas Corporation (ONGC) has reversed a seven-year decline in its crude oil production, showing a marginal increase in output in 2014-15, a top official said.

ONGC produced 22.263 million tons (MT) of crude oil during April 2014 to March 31, 2015, up from 22.247 MT in the previous fiscal, company Director (Offshore) Tapas Kumar Sengupta told PTI here.

NEW DELHI: Wipro 0.31 % Chairman Azim Premji was today conferred an award by industry body CII for his outstanding contribution to the Indian industry and society.

"Padma Vibhushan Azim Premji was conferred with the CII President's Award at the CII National Conference and Annual Session 2015," the industry body said.

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.