MUMBAI: In a bid to grow its deposits, HDFC Bank has hiked interest rates on term deposits by up to 100 basis points (1 percentage point). Following the increase, the bank is offering a flat return of 7per cent on all maturities of over one year, while senior citizens can earn up to 7.5 per cent and bulk depositors (Rs 1 crore and above) get even more.

New Delhi, Apr 26 () Ruia family-owned Essar Oil and Gas will invest Rs 900 crore in drilling 150 more wells on its Raniganj CBM block in West Bengal to more than double gas output to 2.3 million standard cubic metres per day by 2021, its Managing Director and CEO Vilas Tawde said.

Essar Oil and Gas Exploration and Production Ltd (EOGEPL) has so far drilled 348 wells on the blocks and is producing 1 mmscmd of gas from coal seams.

New Delhi: The National Highways Authority of India’s (NHAI’s) plan to float infrastructure investment trusts, or InvITs, to raise money from the market for its ambitious Rs5.97 trillion Bharatmala project has been halted in its tracks by the finance ministry.

The authority has been asked to wait till other central public sector enterprises (CPSE) issue their InvITs.

Cash is king, while debt puts you in a bind. Ask Idea Cellular Ltd, perhaps the most leveraged company among India’s surviving telcos. It’s in a catch-22 situation with the decision to monetize its 11.15% stake in Indus Towers Ltd.

Idea has been given two options for its stake in the proposed merger between Indus and Bharti Infratel Ltd. It can exchange it for shares in the combined entity, but this won’t address its high debt levels.

Benchmark BSE Sensex rebounded over 57 points in early trade on Thursday on sustained buying by domestic institutional investors amid mixed trend in other Asian bourses.

Short-covering of bets on Thursday being the last session of April expiry in the derivatives segment supported the recovery.

Singapore Airlines is set to launch the world’s first non-stop flight with almost 20 hours in the air, by the end of this year, the media reported on Thursday.

Singapore Airlines’ newest plane, the Airbus A350-900ULR — for Ultra Long-Range — will travel on a record-breaking, globe-spanning flight that will connect Singapore to New York, reports CNN,

Wipro share price target: Following weak Q4 results reported by India’s third largest software services exporter, brokerages have reduced Wipro share price target. The Bengaluru-headquartered company has reported a 20/3% drop in net profit to Rs 1,803 crore in the three months ended 31 March, missing street estimates. Analysts had expected the company to post a profit of Rs 2,132 crore, according to Thomson Reuters data.

In a re-jigging of its store network, Reliance Retail has shut around 100 Reliance Fresh stores over the past two years or so, with the shutters having been downed for 20 of them in the past 12 months. The move, coupled with new stores in more attractive catchment areas, should help arrest losses.

India’s adoption of Jan Dhan scheme as well as biometric Aadhaar cards-based account opening has led to a massive shrinkage of the gender gap in financial inclusion, the World Bank said in a report released late Thursday night. The Global Findex database collects data from across the world on how adults save, borrow, transact, and interact in the financial system.

Incessant changes to the goods and services tax (GST) rules, also affecting refunds, and procedural issues affect export from special economic zones (SEZs). The Export Promotion Council for Export Oriented Units & Special Economic Zones (EPCES) has listed a number of persisting procedural and regulatory obstacles.

“There have been a staggering 367 changes to the GST rules till April 15, since the new tax structure came into being last year,” EPCES Chairman Vinay Sharma said.

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