Overseas investors plan to meet market regulator Securities and Exchange Board of India (Sebi) this week to seek clarity and highlight lacunae in the recent circular on foreign portfolio investors (FPIs).

In the circular, aimed to curb round-tripping, Sebi said the ultimate beneficiary of a fund will be determined by both shareholding and control.

Two days after taking oath as Chief Minister of Karnataka for the third time, Bharatiya Janata Party (BJP) leader BS Yeddyurappa resigned from his post ahead of the floor test. Yeddyurappa’s move came after it became clear that he would fail to prove majority in the house. Yeddyurappa’s resignation came in less than 48 hours after he took oath as the state chief minister, replacing Congress’ Siddaramiah.

New Delhi: State-run power giant NTPC has deferred auction of 2,000 MW solar capacities to the first week of June as developers have sought resolution of inter-state connectivity issue before going ahead with the sale, people familiar with the matter said.

Besides, the Solar Energy Corporation of India (SECI) is likely to extend the bid submission for 2,000 MW solar capacities scheduled for the first week of June, industry people with knowledge of the matter said.

More than 100 people were killed when a Boeing 737 crashed soon after taking off from Havana in what appeared to be Cuba's worst air disaster in nearly 30 years, and there were only three survivors, officials and State media said on Friday.

The passenger plane, on a domestic flight to Holguin in eastern Cuba, crashed at 12:08 p.m. (1608 GMT). There were 105 passengers, including five children, plus crew members, State media reported.

Axis Bank, the country’s third-largest private lender, on Friday raised marginal cost of funds-based lending rates (MCLRs) by 10-15 basis points (bps). The one-year MCLR at the bank now stands 10 bps higher than earlier at 8.5%, the highest among large banks. MCLRs for shorter tenures will range between 8% and 8.4%. The two-year and three-year MCLRs stand at 8.6% and 8.65% respectively.

The resolution professional (RP) for Lanco Teesta Hydro Power on Friday invited expressions of interest (EoIs) for the company from interested bidders under the corporate insolvency resolution process (CIRP). In March this year, the Hyderabad bench of the National Company Law Tribunal (NCLT) had admitted a petition filed by ICICI Bank to initiate insolvency proceedings against Lanco Teesta. The tribunal had appointed Huzefa Sitabkhan as the RP.

World’s richest man and only centibillionaire Jeff Bezos has a simple success mantra: If you don’t want to be misunderstood, then don’t do anything new or innovative. What he really suggests is that one has to stand firm on her/his ideas and convictions even when others express doubt.

Commercial vehicle manufacturer Ashok Leyland on Friday beat analysts’ estimates by posting a 40% year-on-year growth in its standalone net profit at Rs 667.4 crore in the January-March quarter. Net sales were, however, below Bloomberg estimates and grew 32% to Rs 8,772.5 crore. The company’s ebitda registered a growth of 42% to Rs 1,033 crore, also below estimates.

As part of its commitment to provide eco-friendly green services, electric vehicle (EV) charging stations would be set up at the Metro stations here by the the L&T Metro Rail (Hyderabad).

A contract had been signed with the Powergrid Corporation of India to promote EV Charging Stations at metro stations, LTMRHL said in a release here today.

Robust sales of motorcycles and three-wheelers in the domestic as well as export markets drove up Bajaj Auto’s net profit by 34.67 per cent in the March quarter over the year-ago period, the company said in a filing with the stock exchanges. The earnings are not comparable to the previous year’s because these are disclosed net of the goods and services tax (GST), introduced in July last year, it said.

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.