Following the curtailment of Axis Bank CEO Shikha Sharma’s term, many top market voices including global brokerage firm Nomura believe that its an opportune moment for Uday Kotak-run Kotak Mahindra Bank to takeover the private lender. “With a very short time left in the CEO’s term at Axis Bank, RBI’s pressure on Axis Bank’s management and with an asset quality clean-up exercise continuing, we believe this is the best opportunity for Kotak Bank to acquire or merge with Axis Bank,” Nomura said in its report.

The National Stock Exchange (NSE) on Friday will auction investment limits for overseas investors for the purchase of corporate bonds worth Rs 82.95 billion.

The auction will be conducted on NSE's e-bid platform from 3.30 pm to 5.30 pm after the close of market hours, the exchange said in a circular issued today.

Reliance Industries Ltd (RIL) said today that it has bid jointly with JM Financial Asset Reconstruction Company to acquire the debt ridden textile manufacturer Alok Industries.

In a clarification to stock exchanges, RIL said it is awaiting the outcome of the process.

Bengaluru: After struggling to close the gap with Flipkart Ltd, Amazon India plans to cut prices and increase spending over the next few quarters to increase its market share in the company’s most important international market, three people familiar with the matter said.

Amazon is simultaneously competing with its domestic rival Walmart Inc., the world’s largest retailer, to buy a majority stake in Flipkart.

Urging the Telecom Regulatory Authority of India (Trai) to devise an appropriate filtering mechanism to deal with samples of mobile speed data, the Cellular Operators Association of India (COAI) said the sample selected by the regulator in the white paper on mobile data speed was “spurious”.

Hyundai i30, a premium hatchback and an elder sibling to Hyundai i20, has been seen being tested on Indian roads again. A new set of images posted by Powerdrift show the Hyundai i30 yet again completely undisguised. The Hyundai i30 first made its public appearance at the 2016 Paris Motor Show, when the company's new design language debuted.

With Cabinet approving exploration and exploitation of coal bed methane (CBM) gas from areas under coal mining lease allotted to Coal India, the PSU mining major may soon conduct a global search for an experienced developer, sources told DNA Money.

In the domestic market, Essar Oil and Gas Exploration, which is currently producing about one million cubic meters of gas per day of CBM, would be among the interested bidders.

The BSE benchmark Sensex gained for the sixth straight session, reclaiming the crucial 34,000 level briefly in early today, ahead of IIP and inflation data scheduled to be released later in the day.

The government will issue Index of Industrial Production (IIP) numbers for February and inflation data for March based on consumer price index (CPI) today.

The Indian Space Research Organisation's navigation satellite INRSS-1I was today launched by PSLV-C41 from the spaceport here and successfully placed in the designated orbit.

PSLV-C41/IRNSS-1I Mission blasted off at 4.04 am from the first launchpad at the Sathish Dhawan Space Centre. It was a normal lift-off, ISRO officials said.

Axis Bank, which has the largest exposure to Echanda Urja Pvt Ltd, a subsidiary of NuPower Renewables Pvt Ltd, has sold part of its loans to government-owned Indian Renewable Energy Development Agency (IREDA) and Central Bank of India in 2017-18, in a bid to reduce exposure in the company.

With this, Axis Bank has reduced its exposure in Echanda Urja by Rs 2 billion to below Rs 3 billion, and the rest of the debt will also be sold in due course, said a source close to the development.

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