Shares of Larsen & Toubro Ltd opened over 3% lower on Monday after market regulator Securities Exchange Board of India denied the company permission for its first ever share buyback plan. However, the scrip pared all the losses and was trading 0.4% higher.

The stock had opened at ₹1,275 a share, or 3.3% lower than its Friday close. At 9.56 am, L&T was trading at ₹1,324 on the BSE, up 0.44% from its previous close. The Sensex rose 0.7% to 36,652.26 points.

HDFC Bank Ltd has a reputation of being a consistent performer and its third quarter results were no different.

The private sector lender reported a 20% year-on-year growth in net profit to ₹585.85 crore for the quarter ended 31 December, in line with analysts’ estimate of ₹5,605.70 crore in a Bloomberg survey of 19 brokerage firms.

Rising for the straight fifth session, the benchmark Sensex rallied 250 points after opening on a cautious note on January 21, on continued buying in select blue chips by domestic investors amid positive cues from other Asian bourses.

The 30-share BSE index jumped 228.12 points, or 0.63%, to 36,614.73 in early trade. The NSE Nifty, too, rose 53.10 points, or 0.49%, to 10,960.05.

The government is unlikely to extend the February 1 deadline for e-tailers like Amazon and Flipkart to comply with latest changes to the foreign direct investment (FDI) guidelines announced in late December.

Amazon has asked the government to extend the deadline by four months and Flipkart, too, reportedly wants more time to adapt to the new rules.

Reliance Industries has asked its partner Niko Resources to withdraw from eastern offshore KG-D6 gas block over default in payments for field development cost, but the Canadian firm has sought to stall the move by invoking arbitration, the companies said.

Niko, which defaulted on payment of loans to its lenders,

Today, more than 800 million people around the world suffer from hunger. In India, front-line health workers are responsible for tracking 40-60 kids within their intervention areas, but they don’t have the training or resources to accurately assess their overall nutrition. Towards this, a Germany-based private aid agency Welthungerhlife has launched a unique project in India to help address malnutrition in children with a cloud-based,

Digital technologies are transforming our world. Enterprises are adopting data-driven decision making models, while customers are communicating via mobile and social media platforms. In India too, we are seeing rapid adoption of mobile Internet, cloud technology, digital payments, digital identity, etc.

While private sector enterprises are at the forefront of this digital transformation, the good news is some of the state-owned entities are going full throttle to transition into this ‘Digital world’.

Mehul Choksi, one of the key architect of the Rs 14,000 crore PNB fraud has surrendered his Indian citizenship. Absconding Choksi is currently in Antigua where he took citizenship last year. He has deposited his Indian passport to the Antiguan authorities. Passport number Z. 3396732 has been deposited with cancelled pages. He has also deposited the mandatory $177 dollar for leaving Indian citizenship.

The rupee slipped 29 paise to 71.48 against the US dollar in early trade on Monday amid positive Asian equities and decline in crude oil prices. The domestic unit Friday weakened by 16 paise to close at 71.19 per dollar.

Rupee fell in the later half of the session on Friday primarily as global crude oil prices continued to rally after supply cuts led by OPEC supported prices, said Gaurang Somaiya, Research Analyst (Currency) at Motilal Oswal Financial Services (MOFSL).

Shares of Larsen & Toubro (L&T) recovered after falling 3 per cent to Rs 1,275 apiece on BSE even as the Securities and Exchange Board of India (Sebi) denied approval to the company’s Rs 9,000-crore share buyback plan, citing compliance issues over its post-buyback debt-equity ratio.

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