Mumbai: The BSE Sensex rebounded over 150 points in opening trade on Thursday on value-buying in select bluechip stocks, recovery in rupee and fall in global crude oil prices, but pared some gains on mixed Asian trend.

The 30-share BSE index recovered by 164.46 points, or 0.43 per cent, to 38,182.77 in opening trade. It, however, lost some steam and was trading 48.46 points, or 0.13 per cent, higher at 38,066.87 at 0940 hrs.

Refunds due to as many as 1,500 Amazon customers have been siphoned off by hackers, according to a legal complaint filed by the e-commerce giant. The incident came to light after the legal cell of Amazon filed a complaint in Lucknow yesterday. Based on the complaint, an FIR was lodged against unknown hackers at Vibhuti Khand police station. Notably, many customers had initially complained that refunds were not being credited to their bank accounts.

Reliance Industries Ltd.’s recent gains are helping one of India’s most-valuable companies catch up with the benchmark index, which it had trailed for much of the past decade. The company’s shares have surged 135 percent since it launched telecom services in 2016, nearly four times the advance in the S&P BSE Sensex, making it the best performer in the 30-stock index. It has climbed 26 percent so far this quarter.

India’s efforts to sell a $1.6 billion stake in Oil & Natural Gas Corp. has run into concerns that government policies on fuel pricing would weigh on the state-run explorer’s share price, according to people with knowledge of the situation. Investors and fund managers that met with Indian government officials during a U.S. roadshow last month voiced concern that the government may reimpose fuel subsidies and that the nation’s state-set natural gas prices are too low,

Mahindra and Mahindra (M&M) managing director Pawan Goenka on Wednesday said tractor sales may be subdued during the July-September quarter because of floods in Kerala and several other parts of the country as well as a delayed start to the festival season which perks up buying.

However, Goenka added that sales are expected to pick up during the October-December quarter.

Over the past decade, L&T has experienced significant growth in its core E&C business’ working capital. Our analysis suggests that in the core E&C business, working capital has increased by Rs 148 billion for L&T over FY10- FY18 (a rise of ~5x). As a percentage of E&C sales, this number has risen from ~7.3% in FY10 to ~19.1% in FY18 (peaking in FY16 at ~23%). During the same time frame, the comparable E&C revenue base has gone up ~3x.

NEW DELHI: Reliance Communications (RCom) is pushing the department of telecommunications (DoT) to expedite its response to the telecom tribunal on the Spectrum Usage Charge (SUC) demand the financially stressed telco has disputed, people familiar with the matter said.

Lenders of Essar Steel, which has bad debts to the tune of nearly Rs 500 billion, are planning to offload some of the loans to an asset reconstruction company (ARC), as they face pressure to improve the status of their loan books before the end of the second quarter (Q2) of the current financial year (2018-19 or FY19).

The Securities and Exchange Board of India (Sebi) may soon bring in a slew of changes to make it attractive for startups to list on the bourses.

Among other things, the regulator may broaden the definition of startups to include non-tech companies and allow them to list directly on the main board of stock exchanges under a separate segment.

Falling for the sixth straight session, the BSE Sensex shed about 140 points on Wednesday to close at an over two-week low of 38,018.31 as investor sentiment remained bearish amid a plunging rupee and weak global cues.

The rupee crashed to a fresh record low of 71.96 against the US dollar in intra-day trade on the back of rising bond yields and crisis in emerging market currencies.

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