HCL Technologies dipped 5% to Rs 1,002 on the BSE in early morning trade after the IT company reported a lower than expected 1.5% quarter on quarter rise in its net profit at Rs 22.27 billion in March quarter (Q4FY18). Revenue grew 2.9% at Rs 131.79 billion over the previous quarter.

Analysts on an average had expected profit of Rs 22.88 billion on revenue of Rs 132.19 billion for the quarter.

Shares of Tata Motors were trading 3% higher at Rs 352 per share on the BSE in early morning trade after the company reported a rise of 86% in its domestic sales at 53,511 units for April 2018. It had sold 28,844 units in the same month last year.

In April 2018, the registered an impressive growth over last year due to the continued strong sales performance of its commercial and passenger vehicles business in the domestic market, Tata Motors said in a press release.

The ongoing Open Acreage Licensing Policy round of oil and gas auctions is likely to be a battle between public sector undertakings and the Anil Agarwal-led Cairn India in many of the lucrative blocks.

According to sources close to the development, state-run Oil and Natural Gas Corporation (ONGC) and Oil India may even jointly bid for some blocks for which private parties have submitted expressions of interest (EoIs).

Punjab National Bank (PNB) on Tuesday said it is eyeing an 11 per cent growth in its total business to Rs 12 trillion in the current fiscal year, despite being hit by a Rs 140 billion fraud four months ago.

“The guidance from PNB leadership for financial year 2018-19 is total business of Rs 12 trillion, which will account for 10.8 per cent year-on-year growth,” PNB said in a press statement. The bank’s total business stood at over Rs 10 trillion in 2017-18.

The civil aviation ministry has extended the deadline for submitting expressions of interest (EoIs) for Air India by a fortnight to May 31 and has decided to allow shortlisted bidders to change partners in the consortium before submission of final offers.

The revision in bid conditions was announced on Tuesday following requests from prospective suitors.

In its biggest divestment so far, engineering conglomerate Larsen & Toubro (L&T) on Tuesday said it would sell its electrical and automation business (E&A) to France-headquartered Schneider Electric for a cash consideration of Rs 140 billion. The divestment plan, which was first discussed in the summer of 2015, took three years to mature, it is learnt.

Kotak Mahindra Bank on Friday reported 27 per cent rise in its fourth quarter consolidated net profit for 2017-18 on healthy growth in advances and higher base of low cost deposits.

Profit after tax on a consolidated level rose to Rs 17.89 billion for the quarter ended March 2018, from Rs 14.04 billion in the year ago period.

West Bengal Chief Minister and Trinamool Congress supremo Mamata Banerjee is likely to meet Prime Minister Narendra Modi on Wednesday. The crucial meeting is set to take place even as TMC and BJP are at loggerheads ahead of West Bengal Panchayat Elections. CM Banerjee is scheduled to travel to New Delhi on May Day. She will attend a meeting of the government committee formed to coordinate year-long celebrations of Mahatma Gandhi’s 150th birth anniversary. Prime Minister Narendra Modi heads the panel.

Wolfgang Prock Schauer, who quit GoAir as its chief executive officer following differences with its promoters, has been accused of data theft.

Prock Schauer joined rival IndiGo as its chief operating officer in January-end and GoAir sues him in the Bombay High Court within weeks of his appointment.

Police have arrested four youths on the charge of stripping and abusing a girl in Jehanabad district and sharing the video of the incident on social media.

The police also seized the bike used by the culprits, all said to be in the age group of 16-18.

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