After the mega PSU bank merger between Bank of Baroda, Vijaya Bank and Dena Bank received Union Cabinet approval yesterday, shares of BoB rallied while the other two lenders tanked in the morning trade on Thursday, as investors reacted to the merger swap ratio. Shares of Bank of Baroda rallied more than 3% to Rs 123.40 on NSE while, Vijaya Bank shares plunged by nearly 7.5% to hit the day’s low at Rs 51.05. Dena Bank shares tanked by 20% to Rs 14.40 in the morning trade.

National Highways Authority of India (NHAI) is considering putting the second package of Toll-Operate-Transfer (TOT) for rebid after tepid response, which may impact the sale of subsequent TOT packages.

"Undesired" response from the industry has prompted the authorities to discuss whether the second TOT package should be put through the entire auction process.

Apple Inc on Wednesday took the rare step of cutting its quarterly sales forecast, with Chief Executive Tim Cook blaming slowing iPhone sales in China, whose economy has been dragged down by uncertainty around U.S.-China trade relations.

The news, which comes as a spotlight grows on Beijing's attempts to revive stalling growth, sent Apple shares tumbling in after-hours trade, hammered Asian suppliers and triggered a broader selloff in global markets.

Congress president Rahul Gandhi Wednesday said Prime Minister Narendra Modi faces an open book exam on the Rafale deal in Parliament on Thursday and asked if he will show up at the exam or send a proxy.

He also sent a set of four questions to the prime minister for the "exam", asking him why an amount of Rs 1,600 crore was paid for each aircraft instead of Rs 560 crore and why the contract was given to "AA",

New Delhi: Bank of Baroda (BoB) on Wednesday finalised the share swap ratio for merger of Vijaya Bank and Dena Bank with itself. As per the Scheme of Amalgamation, shareholders of Vijaya Bank will get 402 equity shares of BoB for every 1,000 shares held. In case of Dena Bank, its shareholders will get 110 shares for every 1,000 shares of BoB.

The Reserve Bank of India (RBI) has given its approval to Paytm Payments Bank Ltd, which is co-owned by One97 Communications and Vijay Shekhar Sharma, to restart its know your customers (KYC) process as well as open fresh accounts. In June last year, the central bank directed Paytm Payments Bank to stop opening new accounts and e-wallets, after an audit in which the banking regulator observed that the company violated KYC norms.

Shares of TVS Motor Company dipped 6 per cent to Rs 531 on the BSE after the two and three- wheeler company reported a single- digit 6% year-on-year growth in sales in December 2018. The growth was lowest since October 2017.

The company registered 4 per cent growth in two-wheeler sales during December 2018 at 258,709 units as compared with 247,591 units, a year ago.

Ford India Wednesday reported 18 per cent decline in total sales at 24,420 units in December 2018.

The company had posted total sales of 29,795 units in the year-ago month, Ford India said in a statement.

India's biggest refiner Indian Oil Corp Ltd said on Wednesday that Iran may still invest in a refinery expansion project at one of its subsidiaries.

Indian Oil's chairman Sanjiv Singh said that Iran has not ruled out participating in the expansion at Chennai Petroleum Corp Ltd, a south India-based 20,000 barrels per day (bpd) refinery.

Debt-laden Jet Airways Ltd has delayed the payment to a consortium of Indian banks, led by State Bank of India Ltd, the airline said late Tuesday.

The payment of interest and principal instalment was delayed "due to temporary cash flow mismatch" and the company is in talks with the consortium. The deadline for the payment was Dec. 31, 2018, Jet said in a statement.

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