The equity markets on Friday snapped their two-day losing streak, and ended with robust gains. Markets gained largely due to the positive global cues. Markets participants say that measures taken by the government in the last one week are positive for long term, but some measures are also required to kick-start the economy.

Coal India (CIL) has estimated that coal supplies by it by the end of FY26 will be lower than what is required to meet 100% of its committed volumes to buyers by 53.3 million tonne (MT). Shortages would persist even if it is able to meet the FY26 production target of 1,000 MT.

However, the company would have a surplus availability of 40.8 MT in FY24, if it supplies at ‘trigger level’ — a technical jargon for assured minimum commitment volume. The surplus is contingent on CIL producing 880 MT in FY24.

ICICI Bank’s (ICICIBC’s) annual report reaffirms our view that the bank is progressing well in its endeavour to strengthen balance sheet with strong focus on retail franchise. While its retail portfolio has been leading overall loan growth, GNPA has remained stable at 1.7% for many years; also, retail fees contribute over 70% to total fees. Concentration of the top-20 advances/exposures improved by 206bp/208bp to 12.1%/ 11.9% during the year. On the liability side, concentration of the top-20 depositors improved by ~50bp to 5.7%.

E-tickets bought through IRCTC will get costlier as the Indian Railways has decided to restore service charges from September 1, according to an order.

The IRCTC will levy a service charge of Rs 15 per ticket for non-AC classes and Rs 30 for AC classes, including first class, according to the August 30 order issued by IRCTC.

New Delhi: Cash-strapped Bharat Sanchar Nigam Ltd (BSNL) is facing a challenge in crediting staff salaries for this month on August 30, a senior official admitted on Friday.

The official, who did not wish to be named, said that while the telecom company is generating monthly revenue of about Rs 1,400 crore, there are certain liabilities, including interest payments, which have to be taken into account.

Finance Minister Nirmala Sitharaman on Friday laid out the broad strokes for the recapitalisation plan for public sector banks, providing the approximate allocation breakup for about ₹55,000 crore of the ₹70,000 crore promised in the Budget.

Ms. Sitharaman, while speaking at a press conference to announce the merger of 10 public sector banks into four entities,

Larsen & Toubro (L&T), India’s largest engineering, procurement and construction (EPC) player, along with its joint venture partner Mitsubishi-Hitachi Power Systems has secured a large steam generator and associated packages contract for 2×660 (1320) MW thermal power project of UP government in Bulandshahar district. The order comes at a time when thermal power sector is undergoing severe stress and overall boiler, turbine, generator (BTG) orders have depleted consistently over the last four years.

The National Restaurant Association of India (NRAI) will meet online food delivery companies Swiggy and Zomato in the second week of September to take a step closer to resolving the issues of deep discounting and arbitrary commissions, which is a major bone of contention between restaurant associations and food aggregators.

The government on Friday announced the merger of Punjab National Bank, Oriental Bank of Commerce and United Bank of India to create the second-largest banking network in the country with 11,431 branches.

"Punjab National Bank, Oriental Bank of Commerce and United Bank will be brought together and they shall form the second largest public sector bank with the business of Rs 17.95 Lakh crore," Finance Minister Nirmala Sitharaman said at a press conference here.

Amazon.com defended its business strategies in India as it came under fire from a local trader group on Friday over discounted products on the global e-commerce giant's website.

New e-commerce foreign investment rules that took effect in India from February were designed to help small traders by curbing heavy online discounting, but traders have complained that big online retailers use complex business structures to circumvent the rules and continue to burn billions of dollars to offer discounts.

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