A consortium that includes Bharat Petroleum and Videocon Industries has made a significant crude oil discovery off the Brazil’s Northeast coast.

The discovery was made in a well drilled in the BM-SEAL-11 exploration block in the Sergipe basin off Brazil’s Northeast coast, the two companies said in regulatory filings.

Maruti Suzuki, the leading passenger carmaker of the country is once again ready for a major release this season – Maruti Celerio diesel variant may soon see the light of the day in the second quarter of this year. The petrol variant of the vehicle is already available in the market that has done very well as far as sales figures are concerned.

Banking shares have extended losses for the second straight session on National Stock Exchange (NSE) after the Reserve Bank of India (RBI) Governor Raghuram Rajan decided to leave repo rate unchanged at its credit policy meet yesterday.

Bank Nifty, the banking share index is down 1.2% or 235 points at 19,148 at 10.15 hours. Meanwhile, the benchmark CNX Nifty is down 22 points at 8,734.75.

Shares of NTPC have slipped over 1% at Rs 143 on the NSE after the stock turned ex-dividend today.

The board of directors of the company has decided to pay interim dividend at the rate of 7.5% (Rs. 0.75 per share) on the face value of paid-up equity shares of Rs. 10 each for the financial year 2014-15. The date of payment / dispatch of dividend shall be February 13, 2015.

The oil marketing companies on Tuesday slashed petrol prices by Rs 2.42 a litre and diesel price by Rs 2.25 a litre in line with the decline in global oil prices.

After the price revision, to be effective from midnight, unbranded petrol will cost Rs 56.49 a liter in Delhi as compared to Rs 58.91 currently. Also, diesel will be priced at Rs 46.01 a liter, down from Rs 48.26 at present.

Private life insurer SBI Life Insurance posted net profit after tax of Rs 156 crore for the quarter ended December, an increase of 43 per cent over the year-ago period.

New business premium grew 25 per cent to Rs 1,633 crore during this period against Rs 1,303 crore in the corresponding period last year. The collection of renewal premiums recorded 33 per cent growth at Rs 1,958 crore from Rs 1,472 crore over the corresponding quarter last year.

For a second time in less than two weeks, Reliance Industries Ltd (RIL) is planning to hit the overseas debt market. The company today announced that it will raise $ 750 mn through unsecured notes due 2045. The Notes have been priced at 262.5 basis points over the 30-year US Treasury Note, at a price of 98.865 to yield 4.948%.

The Notes will bear fixed interest of 4.875% p.a. with interest payable semi-annually in arrears and shall rank pari passu with all other unsecured and unsbordinated obligations of the company. The funds will be utilised for its ongoing capital expenditure, RIL said.

MUMBAI: HDFC Bank Ltd is expected to sell shares worth up to Rs 100 billion ($1.6 billion) as early as this week, with an offering that will include overseas and domestic stock, sources with direct knowledge of the matter said on Tuesday.

India's largest lender by market capitalisation, which is also listed in New York, last week received government approval for the share sale on the condition that its foreign ownership should not exceed 74 per cent.

A group of global CEOs, including Dieter Zetsche of Daimler AG and Feffrey Jaensubhakiji of GIC AM, today expressed intention to increase investment in India.

Anshu Jain of Deutsche Bank AG, Kurt Bock of BASF, Heinrich Biersinger of Thyssen Krupp and Yngve Slyngstad of Norgos along with other two CEOs called on Prime Minister Narendra Modi here.

Homegrown auto major Tata Motors’ Rs 7,500 crore rights issue is credit positive as it will reduce its debt and fund business growth, according to ratings agency Moody’s.

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