Shares of oil exploration, equipment and services companies were trading higher on the bourses by up to 7% on Wednesday in otherwise subdued market after on higher crude oil prices.

Oil and Natural Gas Corporation (ONGC), Oil India, Aban Offshore, Jindal Drilling & Industries, Hindustan Oil Exploration and Deep Industries were up in the range of 3% to 7% on the BSE. On comparison, the S&P BSE Sensex was down 0.30% at 33,780 points at 10:07 AM.

NEW DELHI: The Telecom Regulatory Authority of India (Trai) is likely to seek more powers to regulate the flow of data from users to app makers, while defining what comprises personal information, as it finalises recommendations on data ownership, privacy and security that are likely to be released this month.

Mumbai: Debt-ridden Uttam Galva Steels Ltd Tuesday said the State Bank of India (SBI) has rejected its offer for a one-time settlement of dues.

The company, which is undergoing bankruptcy resolution, last month offered to pay Rs2,885 crore out of its total dues of Rs5,650 crore.

IT industry body National Association of Software and Services Companies (Nasscom) on Tuesday announced the appointment of Rishad Premji, chief strategy officer and member of the board, Wipro, as its chairman for 2018-19. Premji has been a member of Nasscom’s Executive Council and was the vice-chairman for 2017-18.

Axis Bank is likely to appoint global executive search firm Egon Zehnder to find a successor to its managing director and chief executive officer Shikha Sharma, who will step down at the end of the year, sources close to the development told FE.

“The board is likely to consider both external candidates as well as senior officials from within the bank. Egon Zehnder is expected to manage the succession,” a source said on condition of anonymity.

Maruti Suzuki India sold more utility vehicles (UVs) than Mahindra & Mahindra (M&M) in 2017-18 to emerge the top player in the domestic passenger vehicles market with a share of 50%. Its share in 2016-17 was 47.4%.

Society of Indian Automobile Manufacturers (SIAM) data released on Tuesday showed Maruti’s total sales of UVs in 2017-18 was 253,759 units, giving it a market share of 27.53% up from 25.7% in 2016-17.

NEW DELHI: Microsoft is looking at expanding its partner ecosystem – both in terms of numbers as well as domain expertise – given the huge potential of digital transformation in the country, Anant Maheshwari, president of Microsoft told ET.

It currently has the largest partner ecosystems with 9,000 partners across 250 cities in India.

EPFO has asked banks not to deny monthly pension to people for want of biometric national ID, Aadhaar, and said that alternate means for identification should be used if needed.

The Employee Provident Fund Organisation (EPFO), in a circular to all heads of pension disbursing banks and postal services on Monday, listed out alternate mechanism of handling pensioners who do not possess Aadhaar or those whose identity cannot be authenticated due to wear out of finger print.

The Securities and Exchange Board of India (Sebi) has tightened some Know Your Customer (KYC) rules for foreign investors.

A circular it issued on Tuesday sets stiffer rules for foreign portfolio investors (FPIs) from ‘high risk’ jurisdictions and also from People of Indian Origin (PIOs) who control an FPI. These measures have been taken to align Sebi’s rules around the Prevention of Money Laundering Act.

Indian stocks continue to be under selling pressure this year even as the benchmark indices have remained largely range-bound. According to data, 374 of the BSE 500 stocks have offered negative returns in 2018 despite the Sensex declining only 0.5 per cent during the year. As many as half of the BSE 500 companies saw their shares tumble over 10 per cent each.

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