After Reliance launched the Jio Phone, many major players are planning to jump on the bandwagon of low-cost 4G phones. Recently it was reported that Bharti Airtel will soon launch its own cheap 4G smartphones in the market. But now, another big company seems to have set its target in the vast unexplored market of feature mobile with 4G VoLTE capacities. According to a report in The Economic Times, HMD Global may soon enter the 4G feature phone segment in India. HMD Global is a Finnish company which now manufacturers phones under the Nokia brand.

With the offering of Godrej Agrovert fully subscribed, fund-raising through initial public offerings (IPO) has crossed Rs 31,000 crore this year. Since the beginning of 2017, 25 companies have together raised an amount of Rs 31,996 crore. Market participants said fund-raising via IPOs could cross Rs 50,000 crore in 2017 and hit a record high.

The IPO of General Insurance Corporation (GIC Re) worth Rs 11,372 will begin on Wednesday. In the next few months at least ten companies are tipped to hit the market.

The International Olympic Committee (IOC) has suspended 2016 Rio Games chief Carlos Nuzman following his arrest on corruption charges.

Nuzman, who has denied any wrongdoing, is accused by Brazil's federal police of bribing IOC members to support Rio de Janeiro's candidacy to host the Games, reports Xinhua news agency.

New Delhi: To improve corporate governance at listed companies, a high-profile Sebi panel has recommended payments made by such entities to related parties for usage of brand and royalty should need approval from majority of non- promoter shareholders.

In case, where royalty payout levels exceed 5% of consolidated revenues, the panel headed by eminent banker Uday Kotak suggested the terms of conditions of such royalty must require shareholders’ approval.

Mumbai, Oct 07 () Stocks: Stocks finished higher for the week, snapping its previous two consecutive losses, the benchmark Sensex rallied 530.50 to close 31,814.22, while the broader Nifty regained the crucial 9,900-level to finish at 9,979.70 as all indices regained the lost sparkle.

The holiday-shortened week saw the market winning on positive vibes kindled by RBI policy outcome, positive macroeconomic datas release and firmness in global stocks.

The Commonwealth of Virgina on Thursday announced that the social networking giant Facebook would invest $1 billion to build a new facility in the US state. The bulding that will be built will be of a data center, which will require almost no person to operate, mashable.com said. According to the website, plenty of money spent on construction of the building, with only about 100 employees working in it.

State-owned Bank of Baroda on Friday reduced its marginal cost of funds-based lending rate (MCLR) by 5 basis points (bps) across tenures. The one-year MCLR at the bank now stands at 8.3%. The overnight rate is was reduced to 8.05%, the one-month rate to 8.1%, the three-month rate to 8.15%, the six-month rate to 8.25%, the three-year rate to 8.45% and the five-year rate to 8.6%.

The revised rates will come into effect on Saturday. Under the MCLR regime, banks review their lending rates every month based on their incremental cost of funds and a few other factors, as mandated by the Reserve Bank of India (RBI). This method of determining lending rates replaced the older base-rate regime in April 2016.

The Goods and Services Tax (GST) Council on Friday approved a number of steps to alleviate the new regime-related pains of small businesses and exporters and suspended the implementation of the cumbersome e-way bill and reverse charge mechanisms till the end of the current financial year. While the tax rates on some 27 high-consumer-interest items have been reduced — exactly a month ago, it had cut the rates on 30 items — the council also resolved to revisit the complex taxation structure it imposed on restaurant business.

Coal stocks at power plants across the country have declined to a point where they can meet the requirement for an average of only six days.

Close to 70 plants have enough stocks to see them out for just three days.

Coal stock indicates the slowing down of supply as the plants need to maintain a threshold of more than 20 days of their stipulated coal supply as reserve at their sites.

In what the company is terming the “first direct evidence” of hydrocarbon reserves in the Kutch offshore basin, state-run ONGC has come across flows while drilling the GK-28-12 well. “Though 700 metres are more to be drilled, we are getting flows and are hopeful to get more. There is possibility of oil and gas reserves or at least there is evidence of them passing through the area,” said an ONGC executive requesting not to be named.

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