Mumbai: Baring Private Equity Asia Ltd is likely to acquire NIIT Technologies Ltd in a deal that may value the IT solutions company at ₹8,000-10,000 crore, said two people with direct knowledge of the matter. Credit Suisse has been given the mandate by NIIT to find a suitable buyer, the people said, requesting anonymity.

Extending gains for the third session, the BSE benchmark Sensex on January 17 rose over 100 points tracking sustained buying by domestic institutional investors(DII) and positive global cues.

After rising 147 points, the 30-share index was trading 72.16 points, or 0.20%, higher at 36,393.45 in early trade. Similarly, the NSE Nifty rose 24.50 points, or 0.22%, to 10,914.80.

Microsoft Corp. said it will spend $500 million to develop affordable housing and help alleviate homelessness in the Seattle area, responding to a growing regional housing crisis that has strained the finances of many lower- and middle-income residents.

Half the money will be spent to support low-income housing across King County with a further $225 million invested at lower than market rates to subsidize the preservation and construction of middle-income homes, the Redmond, Washington-based company said in a blog post.

In a first in the country, Hinduja Group-owned Ashok Leyland is all set to ply 50 electric buses by May for Ahmedabad Janmarg Limited (AJL), which manages Bus Rapid Transit System (BRTS) in the Gujarat’s biggest city.

As per the contract, Ashok Leyland would run entire fleet of electric buses for the first seven years with a provision of two years extension, said Karthick Athmanathan, head – EV & eMobility Solutions.

Shares of Reliance Industries (RIL) were trading higher for the third straight trading session, gaining 1.2 per cent to Rs 1,148 apiece on the BSE on Thursday in an otherwise range-bound market ahead of its December quarter (Q3FY19) result today.

In the past three trading sessions, RIL has risen 5 per cent, as compared to 1.3 per cent rise in the S&P BSE Sensex.

Even as the talks between Jet Airways and its lenders are learnt to have reached a stage of finality, the Naresh Goyal-led company issued an official statement to scotch any speculation around its foreign partner Etihad offering to raise its stake at a steep discount.

The statement, which came after the airline stock fell 7.95 per cent, closing at Rs 271 on the BSE,

The telecom department on Wednesday said no wrongdoing has been done to allot microwave spectrum, as the auction route is not for backhaul spectrum which is essential for maintaining connectivity.

“Supreme Court’s 2012 order was on access spectrum and not for backhaul spectrum, and even before and after the verdict, airwaves were allocated administratively,” Union telecom minister Manoj Sinha said.

The Securities and Exchange Board of India (Sebi), in a circular on Wednesday, said that mutual funds (MFs) may write call options under a covered call strategy.

Covered calls are a strategy in which an investor holds a long position in an asset and sells call options on that same asset to generate an income. A call option is a contract where the holder has the right, but not the obligation to buy the underlying asset.

Hyundai Motor Co and affiliate Kia Motors Corp said on Wednesday they will recall about 168,000 US vehicles at risk of fuel leaks, after recalling them in 2017 for engine fire risks, and will offer software upgrades for 3.7 million vehicles.

A high-pressure fuel pipe may have been damaged or improperly installed as part of an engine replacement during the prior recall, and that installation could increase the risk of fire, the companies said.

Mumbai: Equity indices ended marginally higher Wednesday after a see-saw session, tracking mixed cues from the global markets amid geopolitical uncertainties.

After swinging nearly 200 points, the 30-share BSE Sensex index settled 2.96 points, or 0.01 per cent, higher at 36,321.29. The broader NSE Nifty inched up 3.50 points, or 0.03 per cent, to 10,890.30.

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