New Delhi: Shares of ICICI Bank Ltd on Wednesday slumped over 3% in early morning trade as the bank’s senior officials were summoned by the Serious Fraud Investigation Office (SFIO) with regard to the Punjab National Bank (PNB) scam.

It is the sixth straight session of fall for the stock and has slumped 12.75% since 26 February. Senior officials from private sector lenders ICICI Bank and Axis Bank appeared before SFIO on Tuesday with regard to a probe into the Rs12,636-crore PNB fraud.

New Delhi: India’s largest power utility NTPC Ltd on Tuesday joined hands with Indian Institute of Management-Ahmedabad (IIM-A) to establish a management school in Noida near Delhi that would offer specialized courses on energy management and work as a policy think tank.

“We have bigger plans...it will be a full-fledged B-School with a specialized focus on energy sector - both fossil and renewables,” said Saptarshi Roy, director (human resource) at NTPC.

Leaving the question of price aside, the best business to own is one that over an extended period can employ large amounts of incremental capital at very high rates of return. The worst business to own is one that (does) the opposite— that is, consistently employ ever-greater amounts of capital at very low rates of return,” Warren Buffett wrote in his letter to shareholders of Berkshire Hathaway Inc. in 1992.

Washington: The US and its international partners remain determined to achieve the goal of a denuclearized Korean Peninsula, President Donald Trump said on Tuesday.

“We remain determined to achieve a denuclearization of the Korean Peninsula,” Trump told reporters at a joint White House news conference with the Swedish prime minister. “There has been a lot of news on that today, he said referring to the news coming from the region that North Korea is willing to talk with the US.

Market benchmark BSE Sensex extended losses for sixth straight day by shedding about 133 points in early trade today on heavy selling in banking, metal and power stocks amid sustained selling by domestic institutional investors.

Also, a weak trend in other Asian markets after a key advocate for free trade in the White House announced his resignation, fanning fears that President Donald Trump would go ahead with import tariff hike and risk a trade war, weighed on the sentiment, brokers said.

Soon after ordering Axis Bank and HDFC Bank to launch a probe into the recent leak of price-sensitive financial information on WhatsApp, capital market regulator Securities and Exchange Board of India (SEBI) has directed Tata Motors to investigate the results leak in a order issued on Tuesday. Prescient price-sensitive information including earnings results of a few listed companies was found floating over WhatsApp messages just ahead of company’s earnings results for December quarter last year.

Reliance Communications (Rcom) has moved the Bombay High Court against an arbitration order passed a day before that had "restrained” the telco from selling or transferring its assets without its permission.

"The company has filed an appeal before the Hon'ble Bombay High Court to protect the interest of the secured lenders," said the telecom company in a statement to the stock exchanges late Tuesday evening.

BENGALURU: Having received the approval of the Securities and Exchange Board of India (Sebi) last week, Paytm Money is all set to commence operations in the next six to eight weeks along with a dozen or so asset management companies (AMCs).

A $93 million dollar yacht belonging to liquor baron Vijay Mallya was seized in Malta after he failed to pay more than $1 million in wages to the crew members.

The 95-meter ‘Indian Empress’ was boarded by the port officials and was blocked from leaving the port as part of the legal action against him, reported the UK’s Guardian.

Amazon founder Jeff Bezos tops this year's Forbes World's Billionaires list with a record fortune of $122 billion.

Bezos' fortune increased by $39.2 billion in 2017 - the largest up move in anyone's net worth recorded by Forbes last year - dethroning philanthropist and Microsoft co-founder Bill Gates, whose net worth is calculated at $90 billion, Efe reported.

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