NEW DELHI: Infrastructure major Larsen and Toubro (L&T) Thursday said its power business has bagged orders worth Rs 1,400 crore in the domestic market.

The two orders are for setting up flue gas desulphurisation (FGD) systems from NTPC at its Vindhyachal super thermal power plant in Madhya Pradesh and Darlipali super thermal power project in Odisha.

Punjab National Bank (PNB) on Wednesday said it planned to seek Rs 5,431 crore capital support from the government a day after Finance Minister Arun Jaitley assured state-owned banks of all support from the government.

The meeting of the bank’s board will take place on Thursday for considering infusion of Rs 5,431 crore by the government by way of preferential issue of equity share and fixing date of extra-ordinary general meeting (EGM)

Two buyers, including a consortium of four funds, have evinced interest in buying or taking a controlling stake in the leftover businesses of Anil Ambani group’s embattled telecom arm, Reliance Communications (RCom), a top company official said on Wednesday.

The company, which exited the flagship wireless businesses due to financial pressures and is also selling its spectrum, is looking to sell off the enterprise-focused offerings including subsea cables, international fixed line and data centres businesses.

State Bank of India (SBI) on Wednesday decided to offload 4% of its stake in SBI General Insurance, its general insurance arm, for Rs 482 crore to an alternative investment fund promoted by Axis AMC and Premji Invest.

Post this transaction, SBI General Insurance will be valued at around Rs 12,000 crore.

Benchmark indices Sensex and Nifty gave up most of their initial gains after investors turned cautious ahead of September futures and options (F&O) expiry Thursday amid weak Asian cues after the US Fed raised interest rates for the third time this year.

The Reserve Bank of India (RBI) on Thursday said it was ready to provide necessary liquidity support in the banking system and allowed banks to borrow two percentage points more for their liquidity coverage ratio using government securities as collateral.

Money market rates have short up due to liquidity shortage in the system, and generally, the mutual fund (MF) industry is aversed to buying short-term papers of NBFCs after IL&FS started defaulting on its obligation.

The Securities and Exchange Board of India (Sebi) has issued a show-cause notice to 300 brokerages whose clients lost significant money in the infamous Rs 56-billion National Spot Exchange (NSEL) scam.

Sebi’s notice alleged that these brokerages no longer meet the “fit and proper person” criteria and hence should not be allowed to continue as intermediaries.

Soon, Indian Railways passengers on premium trains such as Rajdhani, Shatabdi and Duronto Express will be able to watch movies, listen to music on the go with the help of WiFi hotspots! Indian Railways is looking to up the entertainment quotient on trains with the help of WiFi hotspot devices that will allow passengers to play pre-loaded content on their smartphones, laptops and tablets. Financial Express Online has learnt that the new project will be implemented in Rajdhani, Shatabdi, Duronto and Gatimaan Express trains to begin with.

Badminton stars Saina Nehwal and Parupalli Kashyap are ready to enter into a new partnership, however, not on the court as the duo are set to tie the knot on December 16, according to reports.

The shuttlers are going to get married in a private ceremony which will be followed by a grand reception slated for December 21, a report in the Times of India said.

The government on Wednesday hailed the Supreme Court judgement upholding the constitutional validity of Aadhaar scheme.

It is a historic order, Aadhaar's concept has been accepted after judicial review, we welcome this decision of Supreme Court, Finance Minister Arun Jaitley said after the top court verdict.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.