Shares of Idea Cellular have moved higher by 6% to Rs 184, also its fresh 52-week high on the National Stock Exchange (NSE), in an otherwise weak market.

In past two-trading sessions, the stock 8% after the telecom services provider announced the launch of its 3G services on 900 MHz spectrum band in Delhi circle. The CNX Nifty falls 2.3% during the same period.

State-owned oil and gas explorer ONGC is making an investment of Rs 40,000 crore in the Krishna-Godavari basin in a phased manner in the next four years.

ONGC chief executive officer and managing director, DK Saraf, informed this to Andhra Pradesh chief minister N Chandrababu Naidu here on Wednesday.

With the production of thermal coal on the rise, the government is hopeful that state-owned Coal India will surpass its one billion tonne excavation target by 2020.

Power and Coal Minister Piyush Goyal today said: "We are expecting the companies to supersede coal production targets, I am hopeful that Coal India would exceed targets set for it by 2020."

Flush with funds, investors and venture capitalists have been increasingly eying the online classifieds space, allowing portals to use these funds for promotional activities aimed at enhancing their user base, according to an industry report released here today.

Online selling of used goods increased by more than three times in the last year, while online buying of used goods doubled during the same period, even as the amount of unused goods sitting idle at homes stands at Rs 56,200 crore, a Ficci-KPMG report on media and entertainment stated.

GMR Airports, a subsidiary of GMR Infrastructure, has upped its stake in Delhi International Airport (DIAL) by entering into an agreement to buy a 10% stake from Malaysia Airports (Mauritius) for $79 million. The stake purchase will take the group’s shareholding in the airport to 64%.

National carrier Air India is expected to cut its net loss by about a third to Rs 3,500 crore during Fy16 as a result of a significant reduction in fuel costs and improvement in operating performance, two airline officials told FE on Wednesday, quoting the airline’s recently released budget estimates.

The airline expects an operating profit of about Rs 10 crore during Fy16, its first annual operating profit since the implementation of the government-approved turnaround plan (TAP) in 2012.

Maintain buy on NTPC as the government allots previously de-allocated coal blocks to NTPC. We are reviewing our We maintain that NTPC should be able to achieve a 17%+ operating return on regulated equity (RoRE) under the new tariff regulations. At the current market price, the stock trades at FY16f 1.4x P/B (BPS of Rs 112.1) and 13.9x P/E (EPS of R11). As part of the ongoing coal block auctions/allotment, the government has notified the allotment of 37 coal blocks to central/state PSUs. While 43 coal blocks were envisaged to be allotted to central/state PSUs, the actual number is smaller.

SEBI has slapped Rs. 1 crore fine on one Sendhaji J. Thakor for failing to furnish information sought by the capital markets regulator in matters related to SEL Manufacturing.

Mr. Thakor failed to give necessary information including details of trading in the scrips of SEL, whether he was allotted any share of the company in the IPO (initial public offer) and copy of demat accounts among others sought by SEBI.

The Reserve Bank of India on Wednesday said entities, including Small Industries Development Bank of India (SIDBI) and Axis Bank, have applied for setting up an exchange-based trading platform to facilitate financing of bills.

Those who have applied to set up trade receivables discounting system (TReDS), include NSE Strategic Investment Corporation (NSIC) and SIDBI and Axis Bank, among others, the RBI said. Others include Mynd Solutions from Gurgaon, DICIC Bank of India from Kolkata, NSDL Database Management and Trade Receivables Exchange from the financial capital. The RBI had framed the final guidelines for TReDS in ecember last and had given time till March 9 for applications.

Mumbai: State Bank of India (SBI) will dilute its stake in its general insurance joint venture—SBI General Insurance—to 51% from 76% in favour of its existing partner Insurance Australia Group (IAG), the lender said in a notice to exchanges on Thursday.

The move comes after Parliament voted on 12 March to allow foreign investors to raise their stakes in domestic insurance joint ventures to 49% from the earlier permitted limit of 26%.

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