Axis Bank has put on sale a 600-megawatt (MW) thermal power plant in Madhya Pradesh set up by the Avantha Group-owned Jhabua Power, according to sources. The plant had availed loans worth Rs 3,018 crore from a consortium led by the private lender in December 2009. Axis Bank’s exposure stood at Rs 325 crore. Emails sent to spokespersons at Axis Bank and the Avantha Group did not elicit responses till the time of going to press. The plant became operational on May 3, 2016.

Abdul Gafur Khatri lives on the fringe of great salt marshes in far western India. He doesn’t own a smartphone. He’s never surfed the web. Still, the 53-year-old thinks the internet may be his last hope of reviving a fading art called Rogan that’s been passed down through eight generations of his family.

BENGALURU: Infosys has created a blockchain-based documenttracking system for trade finance and is implementing the solution with seven private banks in the country —Axis Bank, ICICI Bank, IndusInd Bank, Kotak Mahindra Bank, RBL Bank, South Indian Bank and Yes Bank.

NEW DELHI: Regulator Sebi has closed its adjudication proceedings against three group firms of defaulter businessman Vijay Mallya for alleged disclosure lapses in a 17-year-old case citing liquidation of a holding company, but did not rule out any penal action at a later date.

In line with Street estimates, diversified conglomerate ITC Ltd posted a 9.89 per cent rise in its net profit at Rs. 29.33 billion for the quarter ended March 31, 2018, with a total revenue, inclusive of other income, at Rs. 113.30 billion. The net profit during the corresponding quarter of the 2016-17 fiscal year stood at Rs. 26.69 billion, backed by a revenue of Rs. 154.11 billion.

WASHINGTON: NASA's first mini satellites to travel into deep space have beamed back an image of the Earth and the Moon, which appear as a 'pale blue dot' and a tiny white speck floating in space.

NASA set a new distance record for CubeSats on May 8 when a pair of CubeSats - tiny satellites - called Mars Cube One (MarCO) reached one million kilometre from Earth.

HYDERABAD: To implement insurance coverage to the farmers in the state, Telangana chief minister K Chandrasekhar Rao has directed officials to finalize the modalities of the scheme and fix the insurance premium for the famers by holding discussions with life insurance corporation officers.

Disinvestment-bound flag carrier Air India will phase out its remaining three Classic A320 planes, which are nearly three decade old, from the fleet by the end of this year. The airline had in April 2014 announced its plans to retire all 14 single-isle double-bogey wheel planes from its fleet in a phased manner after it decided to induct more fuel-efficient Airbus A320 neo planes into operations.

Global rating agency Fitch on Wednesday affirmed Reliance Industries' long-term foreign-currency rating at BBB-, with a stable outlook.

RIL's rating is supported by its strong business profile, which is driven by its robust refining and petrochemical operations, the agency said in a note.

TVS Motor Company profit grew 30.6 per cent to Rs 1.65 billion in the January-March quarter of 2017-18 from Rs 1.26 billion in the same quarter of 2016-17.

The company has reported a growth of 40.4% with total revenue excluding Excise Duty / GST going up from Rs 284.4 billion in the fourth quarter of 2016-17 to Rs 399.2 billion in the same quarter of 2017-18.

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