Emerging markets’ output growth rose to a 5-month high in February, and manufacturing as well as services sector in India expanded at a faster pace than China during the month, an HSBC survey said today.

The HSBC Emerging Markets Index (EMI), a monthly indicator derived from Purchasing Managers’ Index surveys, rose to 51.9, from 51.2 in January, signalling fastest rate of expansion since last September, but still lagging the developed economies.

Rapping Jawaharlal Nehru Port Trust (JNPT) for continuing to reclaim land in violation of the Coastal Regulation Zone (CRZ) Notification, the National Green Tribunal (NGT) has ordered the City and Industrial Development Corporation(CIDCO), JNPT and Oil and Natural Gas Corporation Limited (ONGC) to pay Rs 95.19 crore to 1,630 fishermen families affected by JNPT’s project of creating an additional berth at the port in Navi Mumbai.

Top software exporter TCS has introduced a new platform which will increase the level of automation in underwriting for insurance business.

"The solution automates the ability to capture, analyse and make use of data in order to determine risk exposure and risk aggregation," the Tata group company said in a statement here.

Mumbai: GMR Infrastructure Ltd on Thursday said that its planned Rs.1,401.83 crore rights issue will run from 24 March to 8 April.

On 2 March, the company had said it will issue 934.5 million shares at Rs.15 apiece. Eligible shareholders will be offered three shares for every 14 they hold. The proceeds of the issue will be used for repaying debt. GMR had debt of over Rs.40,000 crore as on 30 September 2014.

Reliance Industries has restored the supply of gas in Sadasivapet, Telangana after the damage of a trunk pipeline and subsequent fire.

The company is now in the process of assessing the damage.

Sales of Tata Nano, billed to drive the company’s growth in the current decade, are set to plummet to a six-year low in the current financial year.

Sales of the car at 13,333 units till January this fiscal are less than a quarter of wholesale volumes of 53,848 units registered two years back and less than fifth of peak sales of 74,527 units seen in 2011-12.

The capital markets regulator, Securities and Exchange Board of India (Sebi), has simplified the rules for opening of trading and demat accounts by resident individual investors, to boost retail participation in the securities market.

It has introduced the concept of a ‘Saral (Simple) Account’, with much more relaxed Know Your Customer requirements as compared to a normal demat account. Such accounts are primarily aimed at investors who only participate in the cash market, without availing other facilities like internet, mobile banking or margin and derivative trading.

Axis Bank has priced a $250 million bond issue via a tap of its existing 3.2 per cent senior unsecured notes due 2020. The notes, issued in Reg-S format will be fungible with the existing 2020 maturity paper.

The notes are issued by Axis Bank’s DIFC branch, Dubai and are rated Baa2 by Moody's, BBB- by S&P and Fitch. The deal was launched at initial price guidance of US treasuries plus 150 basis points and attracted robust demand from investors with the books covered within an hour of announcement of transaction to the market.

In January, state-owned Bharat Heavy Electricals Ltd (BHEL) said it was looking for partners to manufacture mounted gun systems for the armed forces. The Indian Army is expected to hand out a contract for such guns in the near future, and BHEL needs a technology partner to participate in the bid. The order is expected to be worth Rs 50,000 crore. A month earlier, it had formed a consortium with two other state-owned companies, Mishra Dhatu Nigam and Hindustan Shipyard, to build submarines indigenously. The consortium plans to jointly bid for the proposed P-75 (I) project of the Indian Navy, under which six submarnies will be built at an Indian shipyard at a total cost of Rs 51,000 crore.

State Bank of India (SBI) today hinted that its biggest share sale issue, which may fetch a whopping Rs 10,000-15,000 crore, may hit the markets "anytime".

The nation's largest lender said it has all the approvals in place for the issue, but added timing for its launch has not been decided yet.

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