Mumbai: The benchmark BSE Sensex fell over 100 points in early session on Tuesday, breaking its three-day winning run as metal, IT, realty and banking stocks retreated, tracking sell-off in the global market.

The 30-share index dropped 104.41 points, or 0.29 per cent, to 35,670.47 points in opening trade. The gauge had rallied about 633 points in the previous three sessions.

Mumbai: Cash-strapped Air India Ltd expects to raise as much as $850 million (about 6,100 crore) by selling and leasing back seven wide-body aircraft over the next 15 days. The list includes six Boeing 787 (Dreamliner) and one Boeing 777 aircraft, which were delivered to the airline between November 2016 and March 2018, according to a tender posted on 16 November on the airline’s website.

New Delhi: Wipro Ltd has appointed former International Business Machines Corp. (IBM) executive Bill Stith to revive the fortunes of the Bengaluru-based company’s healthcare and life sciences division. Stith, who headed IBM’s healthcare and life sciences business in the US, is the third top external hire by chief executive officer Abidali Neemuchwala. His hiring is also Wipro’s third top-level management change in 2018.

New Delhi: The Cellular Operators Association of India (COAI) will work with the Department of Telecommunications (DoT) to launch an online portal to monitor applications and approvals for setting up telecom infrastructure, and whether state-wise Right of Way (RoW) rules are being complied with. The portal will enable the government and telecom infrastructure providers to keep a tab on the process, right from the time an application is filed till the final approval.

Mumbai: ICICI Bank Ltd has drawn up a plan to raise as much as ₹25,000 crore for on-lending as India’s second largest private lender seeks to fill in the vacuum left by non-banking financial companies (NBFCs), which are facing a liquidity squeeze. ICICI Bank intends to issue non-convertible debentures (NCDs) and other fixed-income securities for raising funds in the year ahead, according to a document sent recently to shareholders after its annual general meeting.

As a mutual fund investor, it is good to know how to get your complaints addressed. There are two levels of redressal available: one with the mutual fund itself and at the next stage with market regulator Securities and Exchange Board of India (Sebi).

The first step would be to use the redressal mechanism of the concerned mutual fund for resolution. The easiest way to proceed is contact the mutual fund on the designated helpline. All communication from the mutual fund and its website have the contact details.

Ford’s product development team in India will play an increasingly bigger role in the launch of new models in the country, according to Anurag Mehrotra, Ford India president and MD.

“India product development team is already playing a big role. Next year, we will launch our global technology and business centre. Once the centre comes into being, there will be more product development in India. In future, it will be much higher,” he said.

The H1 Ebitda at Rs 5 billion (up 30% year-on-year, in line) and PAT at Rs 1 billion (up 100% y-o-y) fortify our view that Apollo Hospitals is on track to achieve 20% Ebitda CAGR over FY18-21. An incremental Rs 6-billion swing in Ebitda to Rs 14 billion over FY18-21 will be led by (1) new hospital beds maturing, (2) matured hospitals’ Ebitda margin recovering to 23%, (3) margin expansion in pharmacies as stores mature and proportion of in-house brands rises, and (4) breakeven in clinics business.

State-run gas utility GAIL (India) and Gujarat Energy Transmission (Getco) have moved the Ahmedabad bench of National Company Law Tribunal (NCLT) seeking rejection of ArcelorMittal’s Rs 42,000-crore takeover plan for Essar Steel, saying operational creditors have been left out in the proposal.

Alternative asset manager SBICAP Ventures (SVL), the wholly-owned subsidiary of SBI Capital Markets, on Monday announced the launch of its small and medium enterprises (SME) and affordable housing funds that would target a corpus of Rs 400 crore and Rs 350 crore, respectively. The affordable housing fund would be focusing on eight cities that include Mumbai, Chennai, Kolkata, National Capital Region (NCR), Pune, Bengaluru, Hyderabad and Ahmedabad.

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