Kotak Mahindra Bank Market Capitalisation: In a major development in the stock market proceedings on Wednesday, India’s fourth-largest private sector lender Kotak Mahindra Bank market capitalisation surpassed that of ONGC to enter the top 10 club by market capitalisation in India. Shares of Uday Kotak-led Kotak Mahindra Bank was among the top gainers among the components of BSE Sensex since the morning trades on Wednesday.

India’s market regulator is examining the cause for the worst drop in seven months in InterGlobe Aviation Ltd.’s shares before the operator of the nation’s largest airline announced the resignation of its president, according to people with knowledge of the matter.

Former Microsoft Corp. Chief Executive Officer Steve Ballmer said he sold his entire stake in Twitter Inc. because he no longer wants to focus on being an investor and the price was attractive. “The price looked pretty good,” Ballmer said in an interview with Bloomberg TV at the Milken Conference. “I’m not really excited as a profession to be an investor.”

The Telecom Commission on Tuesday cleared the recommendations made by the Telecom Regulatory Authority of India (Trai) on the regulatory framework for internet telephony services in the country. The development allows internet telephony services to be offered by an operator to its subscribers who may be using internet of other access service providers.

Mahindra & Mahindra (M&M), the world’s largest tractor manufacturer by volume, said it plans to set up a Mahindra Ag Tech Centre in US at the Virginia Tech Corporate Research Center. The company said in a release on Tuesday that the research facility will focus on creating technology products for the North American agriculture market. Currently, M&M is ranked third in the 0-120 HP category of tractors in the US.

MUMBAI: A certain subset of the Rs 23,000-crore salty snacks market has come into the spotlight with leading packaged foods companies — PepsiCo India and ITC in a neck-and-neck race for the market leadership position.

The Rs 3,400-crore subset in question is ‘bridges’, where ITC’s Bingo Tedhe Medhe and Bingo Mad Angles compete with PepsiCo’s Kurkure.

Idea Cellular needs to improve its broadband subscriber base by grabbing more 4G customers, and increase investments if it does not want to lag way behind Bharti Airtel and Reliance Jio Infocomm and lose customers to these rivals, say analysts.

"Tight control on costs can only take Idea so far; ultimately the company would need to catch up with larger peers on investments, especially in non-core markets, to be able to stage a revenue recovery," JP Morgan said in a report.

BSE benchmark Sensex rose nearly 200 points in opening trade today only to turn cautious tracking negative global cues ahead of the US Federal Reserve policy announcement scheduled later in the day.

The 30-share index, which opened 196.79 points higher, pared most gains and was trading up by 7.63 points, or 0.02 per cent, at 35,167.99.

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.

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