The government hinted on Tuesday that Life Insurance Corporation might seek an exemption from the Securities and Exchange Board of India (Sebi) from making an open offer to the minority shareholders of state-owned IDBI Bank, in which the insurer is set to buy a 51 per cent stake.

Markets regulator Sebi has slapped a total fine of Rs 7.45 million on 48 entities for fraudulent trading in the shares of Vandana Knitwear Ltd.

The entities have been fined for violating PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) regulations.

Two-and-a-half years after an under-construction flyover in north Kolkata came down and killed 26, a portion of a 40-year-old bridge in southwest Kolkata collapsed during the afternoon rush hour on Tuesday.

At least, 19 people were injured and five feared dead. At the time of the incident, at least five cars, a minibus and three two-wheelers were on the bridge, said witnesses.

Amazon.com Inc on Tuesday became the second US company to reach $1 trillion in stock market value, just weeks after Apple Inc hit the same milestone on Aug 2.

Shares in the world's largest online retailer last traded up 1.4 per cent at $2,041.68. Its shares hit the $2050.2677 level to give its stock a value of $1 trillion.

Only 10 per cent of India's 1.3 billion people know English. Yet most of the country's e-commerce services have been offered only in English, closing off online shopping to the vast majority of people here.

Now Amazon is aiming to break through that language barrier. The e-commerce giant on Tuesday offered a hearty “namaste” to this country’s half a billion Hindi speakers by making its local website and apps available in India’s most popular language.

As many as 15 people, who were borrowers in the Rs 600 million SBI loan scam in Virudhanagar and Theni districts of Tamil Nadu, have died under suspicious circumstances in the last six months, The Times of India reports. Another borrower has gone missing.

According to the ToI report, police has confirmed that all those found dead were from Virudhnagar and nearby villages and had loans in their name, however, there has not been a probe into these deaths.

Nashik: Mahindra and Mahindra Ltd is exploring the feasibility of entering emerging markets such as Indonesia and Russia in partnership with Ford Motor Co. “We are exploring various aspects with Ford; manufacturing, sourcing, engineering or even on the retail front. But things are at a very initial stage (in these markets) to conclude what aspect we will be partnering on,” said Mahindra managing director Pawan Goenka.

Mumbai: Tata Consultancy Services Ltd’s (TCS) market cap surged past the 8 trillion mark for the first time today, making it only the second Indian company after Reliance Industries Ltd (RIL) to achieve the milestone. TCS share price rose 1.7% to a record high of 2091 on the BSE today, imparting the IT bellwether a market cap of 8.01 trillion. Of the 50 brokers tracking the TCS stock on Bloomberg, as many as 22 recommend a “buy” rating, eight “sell” the stock 20 a “hold” rating.

The ICICI Bank raised its marginal cost of funds-based lending rates (MCLRs) by 15-25 basis points (bps) across tenures, following a similar move by larger rival State Bank of India (SBI). The one-month MCLR at ICICI Bank now stands at 8.55%, 15 bps higher than earlier, and 10 bps more than the corresponding rate at SBI.

Q1 PAT (Ind AS) rose 18.4% y-o-y to Rs 5.7 bn vs our Rs 5.4 bn est. (GAAP). Loan growth was muted and NIMs fell y-o-y, but this was offset by lower opex as per Ind AS. Asset quality disappointed.

We trim FY19-20e EPS by 1-2%. Spreads should improve q-o-q, but sharp increase appears unlikely. Competition may continue to weigh on AUM growth. Proj. loans have aided growth, but slippage remains high in this segment.

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