Market regulator Securities and Exchange Board of India (Sebi) has sought clarifications on the proposed Rs 750-crore initial public offer (IPO) of construction major HCC’s realty arm Lavasa Corporation.

Without disclosing the details of clarifications sought, Sebi has said “clarifications (are) awaited from lead manager” for the proposed public issue.

Stockbrokers, who paid a deposit to become members of Multi Commodity Exchange-Stock Exchange (MCX-SX)'s equity segment, are asking the bourse to return their money, even as volumes in the segment have completely dried up.

They have also written to the Securities and Exchange Board of India (Sebi) on the issue, according to information from two persons familiar with the matter. "The brokers have asked for a refund," said a senior industry official.

With major car players in India introducing compact SUVs, country’s second largest carmaker Hyundai Motor India Limited (HMIL) does not want to be left behind. Hyundai is ‘serious’ about entering the compact SUV segment and studying the market which according to the company is the fastest growing at present.

The compact SUVs already in the market include Ford EcoSport, Renault Duster, Nissan Terrano and Toyota Etios Cross.

State-run BHEL's net profit shrunk to Rs 193.50 crore for the quarter ended June 30, mainly due to drop in sales from power and industry segments. The company had reported a net profit of Rs 465.43 crore during the same period the last financial year, BHEL said.

State-run Bharat Petroleum Corporation (BPCL) has reported an eight fold increase in net profit for the April-June quarter.

The company's net profit stood at Rs 1,216.3 crore, led by higher other income and lower finance cost. Net profit for the year-ago period was Rs 150.3 crore.

Tata Motors on Tuesday ended its four-year product launch drought, launching the Zest, a compact sedan priced at Rs 4.64 lakh (ex-showroom, Delhi). The car, the cheapest in its category, will compete against the Maruti Suzuki Dzire, the Honda Amaze, the Hyundai Xcent and the Tata Motors Indigo CS.

Tata Motors claims the Zest is loaded with 29 “segment-leading” features and will be available in nine variants across petrol and diesel engines. Tata Motors’ first new model launch after the Aria launch in 2010, the Zest sports a new 1.2-litre gasoline engine from the Revotron family. (DRIVING ZEST INTO MARKETS).

Hollywood star Robin Williams who was found dead from suspected suicide at his California residence last night was certainly one of the funniest men of his generation.

Actor Rekha attended the Rajya Sabha on Tuesday. She came during the Zero Hour. Seated next to nominated member Anu Aga, she watched the proceedings for about half an hour and left just before the House adjourned for lunch.

Prime Minister Narendra Modi on Tuesday announced special Central assistance of Rs 8,000 crore for construction of four important surface communication projects in Jammu and Kashmir while writing off the State’s liability of Rs 60 crore towards Food Corporation of India.

Shares of Tata Motors soared over 8 per cent in morning trade after the company reported over 3-fold jump in consolidated net profit for the June quarter.

The auto major's scrip jumped 8.18 per cent to Rs 484.00 on the BSE.

On the NSE, the stock climbed 7.93 per cent to Rs 482.

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