Domestic mutual fund houses loaded up on ICICI Bank shares buying 42 million shares in March, after concerns regarding impropriety involving CEO Chanda Kochhar in Videocon loan dragged the shares sharply last month. Notably, the shares had closed at Rs 313.28 on February 28th. At the end of March, the shares had fallen to Rs 278 as on March 28th (the last trading day in March), implying a near 12% fall.

The Mumbai-based Kotak Mahindra Bank led by Asia’s richest banker Uday Kotak became India’s second-largest bank by market capitalisation on Monday surpassing India’s largest bank by asset State Bank of India to grab the spot. Kotak Mahindra Bank is now behind the market capitalisation leader among all the banking scrips HDFC Bank which also features among the exhaustive club of Rs 5 lakh crore market capitalisation.

State Bank of India (SBI), India’s largest state-owned bank, lost its place in the list of the country’s 10 most valued companies in terms of market capitalisation after the stock price of bank declined for the fourth straight trading days on the BSE.

With the m-cap of Rs 2,229 billion (Rs 2.229 trillion), SBI is currently stands at 11th rank, behind of Kotak Mahindra Bank, which has m-cap of Rs 2,231 billion (Rs 2.231 trillion) at 02:18 pm, the BSE data shows.

Shares of Tata Motors fell more than 4 % in morning trade after Jaguar Land Rover said it is planning to cut jobs to scale back production at some of its UK sites.

Tata Motors-owned Jaguar Land Rover (JLR) on April 13 said it is planning to cut jobs as it scales back production at some of its UK sites amid what it termed as “headwinds” impacting the automotive industry.

ICICI Bank, on Monday, confirmed that the Securities and Exchange Board of India (SEBI) had sought clarification based on the news reports and that it had duly responde.

The BSE and NSE had sought a clarification from ICICI Bank on media reports suggesting that the Securities and Exchange Board of India (SEBI) had initiated a probe against the alleged lapses in corporate governance norms while extending loans to the Videocon Group of companies.

Life Insurance Corporation (LIC) had launched a cancer cover six months back. LIC’s flagship programme seems to have received a favourable response. It has sold 88,750 policies across the country, according to The Indian Express report. It has been learnt 58.5 per cent of those 88,750 policies were sold in Maharashtra, Kerala, Tamil Nadu and Gujarat.

The government’s decision to retain a 24% stake in Air India after the sale of 76% is deterring prospective buyers from bidding for the bankrupt airline, sources said. A 24% stake would give the government two nominees on the board which would mean continued interference in the running of the business, they said. While both domestic and international airlines were looking forward to the divestment of Air India, the conditions for the sale are onerous, they pointed out.

The Indian Railway Catering and Tourism Corporation (IRCTC) recently introduced new rules of booking Tatkal tickets or tickets that are booked at the last minute by those who want to travel on an urgent basis. And as the season of summer vacation is around the corner, we thought to give you a quick reminder of the new changes and the latest infrastructural development Indian railways is planning to introduced at the certain railway stations.

Key indices on Monday opened lower tracking mixed Asian cues. The 30-share BSE Sensex was down 229.59 points at 33,963.06 and the 50-share NSE Nifty fell 66.20 points to 10,414.40. Shares of reliance Industries and Infosys also pressurized the indices to trade in red.

The combined entity of Vodafone-Idea merger may lead to a massive layoffs. According to an Economic Times report, the ongoing merger process of Vodafone India and Idea Cellular could see about a fourth of the telcos’ combined 21,000-strong workforce lose jobs in the next few months as the companies look to save on costs, eliminate duplication and improve efficiency.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.